VCRB vs. VGVT

Last updated Jun 4, 2026

VCRB (Vanguard Core Bond ETF) and VGVT (Vanguard Government Securities Active ETF) are both Intermediate Core Bond funds from Vanguard. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

VCRB vs. VGVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core Bond ETF (VCRB) and Vanguard Government Securities Active ETF (VGVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCRB achieves a 0.47% return, which is significantly higher than VGVT's 0.11% return.

VCRB

• 1D: -0.18%
• 1M: 0.35%
• YTD: 0.47%
• 6M: 0.34%
• 1Y: 5.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGVT

• 1D: -0.15%
• 1M: 0.17%
• YTD: 0.11%
• 6M: 0.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VCRB vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
VCRB Vanguard Core Bond ETF	0.47%	3.55%
VGVT Vanguard Government Securities Active ETF	0.11%	3.28%

Correlation

The correlation between VCRB and VGVT is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.90

Return for Risk

VCRB vs. VGVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCRB

VCRB Risk / Return Rank: 42
VCRB Sharpe Ratio Rank: 42
VCRB Sortino Ratio Rank: 45
VCRB Omega Ratio Rank: 41
VCRB Calmar Ratio Rank: 42
VCRB Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCRB vs. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core Bond ETF (VCRB) and Vanguard Government Securities Active ETF (VGVT). 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.

	VCRB	VGVT	Difference
Sharpe ratio Return per unit of total volatility	1.52	—	—
Sortino ratio Return per unit of downside risk	2.27	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	2.13	—	—
Martin ratio Return relative to average drawdown	6.38	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VCRB	VGVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	1.17	-0.24

Drawdowns

VCRB vs. VGVT - Drawdown Comparison

The maximum VCRB drawdown since its inception was -4.59%, which is greater than VGVT's maximum drawdown of -2.77%. Use the drawdown chart below to compare losses from any high point for VCRB and VGVT.

Drawdown Indicators

	VCRB	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-2.77%	-1.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	—	—
Current Drawdown Current decline from peak	-1.40%	-1.76%	+0.36%
Average Drawdown Average peak-to-trough decline	-1.16%	-0.67%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	VCRB	VGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.22%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.74%	3.22%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	3.22%	+1.52%

VCRB vs. VGVT - Expense Ratio Comparison

Both VCRB and VGVT have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VCRB vs. VGVT - Dividend Comparison

VCRB's dividend yield for the trailing twelve months is around 4.60%, more than VGVT's 3.99% yield.

Position	TTM	2025	2024	2023
VCRB Vanguard Core Bond ETF	4.60%	4.55%	4.22%	0.16%
VGVT Vanguard Government Securities Active ETF	3.99%	2.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VCRB and VGVT in my portfolio?

With a correlation of 0.90, VCRB and VGVT 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.

Which ETF is better, VCRB or VGVT?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VCRB or VGVT?

VCRB and VGVT have the same expense ratio: 0.10% per year.

Which ETF pays a higher dividend yield, VCRB or VGVT?

VCRB has the higher dividend yield at 4.60%, compared with 3.99% for VGVT.