VCLT vs. VTC
VCLT (Vanguard Long-Term Corporate Bond ETF) and VTC (Vanguard Total Corporate Bond ETF) are both Corporate Bonds funds from Vanguard - VCLT tracks the Barclays U.S. 10+ Year Corporate Index while VTC tracks the Bloomberg Barclays U.S. Corporate Bond Index. Both are passively managed. Over the past 5 years, VCLT returned -1.78%/yr vs 0.51%/yr for VTC. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.
Performance
VCLT vs. VTC - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 0.99% return, which is significantly higher than VTC's 0.60% return.
VCLT
- 1D
- -0.35%
- 1M
- 1.49%
- YTD
- 0.99%
- 6M
- -0.04%
- 1Y
- 7.69%
- 3Y*
- 4.34%
- 5Y*
- -1.78%
- 10Y*
- 2.31%
VTC
- 1D
- -0.22%
- 1M
- 0.63%
- YTD
- 0.60%
- 6M
- 0.33%
- 1Y
- 5.99%
- 3Y*
- 5.22%
- 5Y*
- 0.51%
- 10Y*
- —
VCLT vs. VTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 0.99% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 2.33% |
VTC Vanguard Total Corporate Bond ETF | 0.60% | 7.58% | 2.15% | 8.58% | -15.68% | -1.41% | 9.30% | 14.60% | -2.55% | 0.84% |
Correlation
The correlation between VCLT and VTC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017 | 0.95 |
The correlation between VCLT and VTC has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
VCLT vs. VTC — Risk / Return Rank
VCLT
VTC
VCLT vs. VTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Total Corporate Bond ETF (VTC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| VCLT | VTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.09 | -0.62 |
| Martin ratioReturn relative to average drawdown | 3.62 | 6.63 | -3.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCLT | VTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.38 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.07 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.32 | +0.08 |
Drawdowns
VCLT vs. VTC - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, which is greater than VTC's maximum drawdown of -22.05%. Use the drawdown chart below to compare losses from any high point for VCLT and VTC.
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Drawdown Indicators
| VCLT | VTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -22.05% | -12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -2.88% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -6.46% | -6.57% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -22.05% | -12.26% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | — | — |
Current DrawdownCurrent decline from peak | -14.36% | -0.99% | -13.37% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -5.84% | -2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.90% | +1.23% |
Volatility
VCLT vs. VTC - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) has a higher volatility of 2.31% compared to Vanguard Total Corporate Bond ETF (VTC) at 1.43%. This indicates that VCLT's price experiences larger fluctuations and is considered to be riskier than VTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | VTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 1.43% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 5.75% | 3.22% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 4.37% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 7.08% | +5.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 7.68% | +5.16% |
VCLT vs. VTC - Expense Ratio Comparison
Both VCLT and VTC have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCLT vs. VTC - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.55%, more than VTC's 4.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.55% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
VTC Vanguard Total Corporate Bond ETF | 4.93% | 4.76% | 4.50% | 3.80% | 3.13% | 2.36% | 2.69% | 3.34% | 3.53% | 0.55% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, VCLT and VTC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VCLT has higher volatility (2.31%) compared to VTC (1.43%). In terms of maximum drawdown, VCLT dropped -34.31% vs VTC's -22.05%.
On 5-year performance, VTC leads with 0.51% vs -1.78% for VCLT. Both ETFs have the same 0.04% expense ratio. On volatility, VTC has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VTC has performed better with a 0.51% return vs -1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT and VTC have the same expense ratio: 0.04% per year.
VCLT has the higher dividend yield at 5.55%, compared with 4.93% for VTC.
VCLT tracks Barclays U.S. 10+ Year Corporate Index, while VTC tracks Bloomberg Barclays U.S. Corporate Bond Index.
VTC currently has the higher Sharpe Ratio (1.38 vs 0.97), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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