VFICX vs. VCIT
VFICX (Vanguard Intermediate-Term Investment-Grade Fund Investor Shares) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both funds - VFICX is a Total Bond Market fund managed by Vanguard, while VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index. Over the past 10 years, VFICX returned 2.66%/yr vs 2.86%/yr for VCIT. Their correlation of 0.86 suggests significant overlap in exposure. VFICX charges 0.20%/yr vs 0.03%/yr for VCIT.
Performance
VFICX vs. VCIT - Performance Comparison
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Returns By Period
In the year-to-date period, VFICX achieves a 0.15% return, which is significantly lower than VCIT's 0.22% return. Over the past 10 years, VFICX has underperformed VCIT with an annualized return of 2.66%, while VCIT has yielded a comparatively higher 2.86% annualized return.
VFICX
- 1D
- 0.23%
- 1M
- 0.77%
- YTD
- 0.15%
- 6M
- 0.67%
- 1Y
- 5.67%
- 3Y*
- 6.11%
- 5Y*
- 1.13%
- 10Y*
- 2.66%
VCIT
- 1D
- -0.23%
- 1M
- 0.50%
- YTD
- 0.22%
- 6M
- 0.37%
- 1Y
- 5.37%
- 3Y*
- 6.06%
- 5Y*
- 1.14%
- 10Y*
- 2.86%
VFICX vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 0.15% | 9.55% | 3.21% | 8.53% | -13.86% | -1.59% | 10.33% | 10.39% | -0.56% | 4.17% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.22% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
Correlation
The correlation between VFICX and VCIT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.86 |
The correlation between VFICX and VCIT has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
VFICX vs. VCIT — Risk / Return Rank
VFICX
VCIT
VFICX vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.
| VFICX | VCIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.82 | -0.08 |
| Martin ratioReturn relative to average drawdown | 5.69 | 5.78 | -0.10 |
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Drawdowns
VFICX vs. VCIT - Drawdown Comparison
The maximum VFICX drawdown since its inception was -20.24%, roughly equal to the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for VFICX and VCIT.
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Drawdown Indicators
| VFICX | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.24% | -20.56% | +0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.96% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -6.11% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.24% | -20.56% | +0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -20.24% | -20.56% | +0.32% |
Current DrawdownCurrent decline from peak | -1.32% | -1.32% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.49% | -3.15% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.93% | +0.09% |
Volatility
VFICX vs. VCIT - Volatility Comparison
Vanguard Intermediate-Term Investment-Grade Fund Investor Shares (VFICX) has a higher volatility of 1.38% compared to Vanguard Intermediate-Term Corporate Bond ETF (VCIT) at 1.23%. This indicates that VFICX's price experiences larger fluctuations and is considered to be riskier than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFICX | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 1.23% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 3.18% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 4.11% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.62% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 6.29% | -1.10% |
VFICX vs. VCIT - Expense Ratio Comparison
VFICX has a 0.20% expense ratio, which is higher than VCIT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VFICX vs. VCIT - Dividend Comparison
VFICX's dividend yield for the trailing twelve months is around 4.99%, more than VCIT's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.80% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
VFICX Vanguard Intermediate-Term Investment-Grade Fund Investor Shares | 4.99% | 4.81% | 4.57% | 3.81% | 3.09% | 3.53% | 5.70% | 3.03% | 3.20% | 2.96% | 3.84% | 3.54% |
Frequently Asked Questions
VFICX and VCIT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFICX has higher volatility (1.38%) compared to VCIT (1.23%). In terms of maximum drawdown, VFICX dropped -20.24% vs VCIT's -20.56%.
VFICX currently has the higher Sharpe Ratio (1.37 vs 1.31), 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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