VLCIX vs. SPTL
VLCIX (Vanguard Long-Term Corporate Bond Index Fund Institutional Shares) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both funds - VLCIX is a Corporate Bonds fund managed by Vanguard, while SPTL is a Government Bonds fund tracking the Bloomberg Long U.S. Treasury Index. Over the past 10 years, VLCIX returned 1.58%/yr vs -1.81%/yr for SPTL. Their correlation of 0.92 means they have usually moved in the same direction. VLCIX charges 0.05%/yr vs 0.03%/yr for SPTL.
Performance
VLCIX vs. SPTL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VLCIX achieves a -2.33% return, which is significantly higher than SPTL's -3.28% return. Over the past 10 years, VLCIX has outperformed SPTL with an annualized return of 1.58%, while SPTL has yielded a comparatively lower -1.81% annualized return.
VLCIX
- 1D
- 0.17%
- 1M
- -3.26%
- 6M
- -2.71%
- YTD
- -2.33%
- 1Y
- 0.15%
- 3Y*
- 2.94%
- 5Y*
- -3.39%
- 10Y*
- 1.58%
- ALL TIME*
- 4.39%
SPTL
- 1D
- -0.67%
- 1M
- -3.50%
- 6M
- -3.17%
- YTD
- -3.28%
- 1Y
- -1.73%
- 3Y*
- -0.59%
- 5Y*
- -7.09%
- 10Y*
- -1.81%
- ALL TIME*
- 3.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $141.08M | $126.11M | $146.73M | |
| $0.00 | $0.00 | $0.00 |
VLCIX vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares | -2.33% | 7.27% | -1.43% | 11.06% | -25.75% | -1.24% | 13.74% | 23.18% | -6.86% | 12.42% |
SPTL SPDR Portfolio Long Term Treasury ETF | -3.28% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between VLCIX and SPTL is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2009 | 0.92 |
The correlation between VLCIX and SPTL has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VLCIX vs. SPTL — Risk / Return Rank
VLCIX
SPTL
VLCIX vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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.
| VLCIX | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.00 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | -0.06 | +0.27 |
| Martin ratioReturn relative to average drawdown | 0.45 | -0.14 | +0.58 |
Loading charts...
Drawdowns
VLCIX vs. SPTL - Drawdown Comparison
The maximum VLCIX drawdown since its inception was -34.56%, smaller than the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for VLCIX and SPTL.
Loading charts...
Drawdown Indicators
| VLCIX | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.56% | -46.20% | +11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -5.31% | -7.09% | +1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -10.10% | -13.39% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -34.56% | -41.02% | +6.46% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -46.20% | +11.64% |
Current DrawdownCurrent decline from peak | -16.77% | -38.71% | +21.94% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -14.43% | +6.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 3.21% | -0.79% |
Volatility
VLCIX vs. SPTL - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) is 1.99%, while SPDR Portfolio Long Term Treasury ETF (SPTL) has a volatility of 2.26%. This indicates that VLCIX experiences smaller price fluctuations and is considered to be less risky than SPTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VLCIX | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 2.26% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.69% | 6.39% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.46% | 8.51% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.84% | 14.50% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.59% | 13.88% | -3.29% |
VLCIX vs. SPTL - Expense Ratio Comparison
VLCIX has a 0.05% expense ratio, which is higher than SPTL'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
VLCIX vs. SPTL - Dividend Comparison
VLCIX's dividend yield for the trailing twelve months is around 5.17%, more than SPTL's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 3.99% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares | 5.17% | 5.50% | 5.60% | 4.67% | 4.43% | 2.95% | 3.17% | 3.83% | 4.58% | 4.03% | 4.39% | 4.73% |
Frequently Asked Questions
With a correlation of 0.93, VLCIX and SPTL 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.
SPTL has higher volatility (2.26%) compared to VLCIX (1.99%). In terms of maximum drawdown, VLCIX dropped -34.56% vs SPTL's -46.20%.
VLCIX currently has the higher Sharpe Ratio (0.15 vs -0.05), 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.
Find the right allocation for VLCIX and SPTL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer