VCLT vs. VTINX
VCLT (Vanguard Long-Term Corporate Bond ETF) and VTINX (Vanguard Target Retirement Income Fund) are both funds - VCLT is a Corporate Bonds fund tracking the Bloomberg U.S. 10+ Year Corporate Bond Index, while VTINX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, VCLT returned 2.27%/yr vs 5.26%/yr for VTINX. At a 0.39 correlation, their price movements are largely independent. VCLT charges 0.03%/yr vs 0.08%/yr for VTINX.
Performance
VCLT vs. VTINX - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 1.41% return, which is significantly lower than VTINX's 3.82% return. Over the past 10 years, VCLT has underperformed VTINX with an annualized return of 2.27%, while VTINX has yielded a comparatively higher 5.26% annualized return.
VCLT
- 1D
- -0.09%
- 1M
- 2.37%
- YTD
- 1.41%
- 6M
- 1.82%
- 1Y
- 6.87%
- 3Y*
- 4.64%
- 5Y*
- -2.06%
- 10Y*
- 2.27%
VTINX
- 1D
- 0.99%
- 1M
- 0.99%
- YTD
- 3.82%
- 6M
- 4.32%
- 1Y
- 10.90%
- 3Y*
- 9.04%
- 5Y*
- 3.93%
- 10Y*
- 5.26%
VCLT vs. VTINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 1.41% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
VTINX Vanguard Target Retirement Income Fund | 3.82% | 11.31% | 6.66% | 10.66% | -12.75% | 5.24% | 10.02% | 13.16% | -1.98% | 7.46% |
Correlation
The correlation between VCLT and VTINX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.39 |
Over the past year, VCLT and VTINX have become more correlated (0.68) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
VCLT vs. VTINX — Risk / Return Rank
VCLT
VTINX
VCLT vs. VTINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Target Retirement Income Fund (VTINX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VCLT | VTINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.41 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.58 | -1.45 |
| Martin ratioReturn relative to average drawdown | 2.75 | 11.15 | -8.40 |
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Drawdowns
VCLT vs. VTINX - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, which is greater than VTINX's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for VCLT and VTINX.
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Drawdown Indicators
| VCLT | VTINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -19.96% | -14.35% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -4.14% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -5.26% | -7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -17.02% | -17.29% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -17.02% | -17.29% |
Current DrawdownCurrent decline from peak | -14.00% | -0.83% | -13.17% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -2.20% | -5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 0.96% | +1.20% |
Volatility
VCLT vs. VTINX - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) has a higher volatility of 2.48% compared to Vanguard Target Retirement Income Fund (VTINX) at 2.25%. This indicates that VCLT's price experiences larger fluctuations and is considered to be riskier than VTINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | VTINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.48% | 2.25% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 4.34% | +1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.95% | 5.15% | +2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 6.11% | +6.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 5.75% | +7.10% |
VCLT vs. VTINX - Expense Ratio Comparison
VCLT has a 0.03% expense ratio, which is lower than VTINX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCLT vs. VTINX - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.52%, more than VTINX's 4.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.52% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
VTINX Vanguard Target Retirement Income Fund | 4.84% | 5.02% | 5.89% | 4.01% | 3.08% | 8.63% | 3.42% | 2.62% | 4.19% | 1.56% | 2.27% | 3.53% |
Frequently Asked Questions
VCLT and VTINX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCLT has higher volatility (2.48%) compared to VTINX (2.25%). In terms of maximum drawdown, VCLT dropped -34.31% vs VTINX's -19.96%.
VTINX currently has the higher Sharpe Ratio (2.08 vs 0.75), 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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