VGVT vs. VCRB

Last updated Jun 4, 2026

VGVT (Vanguard Government Securities Active ETF) and VCRB (Vanguard Core Bond 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

VGVT vs. VCRB - Performance Comparison

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

Returns By Period

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

VGVT

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

VCRB

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

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

VGVT vs. VCRB - Yearly Performance Comparison

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

Correlation

The correlation between VGVT and VCRB 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

VGVT vs. VCRB — 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.

VGVT vs. VCRB - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

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

Drawdowns

VGVT vs. VCRB - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

	VGVT	VCRB	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	3.22%	3.69%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.22%	4.74%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.22%	4.74%	-1.52%

VGVT vs. VCRB - Expense Ratio Comparison

Both VGVT and VCRB 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

VGVT vs. VCRB - Dividend Comparison

VGVT's dividend yield for the trailing twelve months is around 3.99%, less than VCRB's 4.60% 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 VGVT and VCRB in my portfolio?

With a correlation of 0.90, VGVT and VCRB 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, VGVT or VCRB?

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, VGVT or VCRB?

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

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

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