VLCIX vs. VLTCX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) and Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX).

VLCIX is managed by Vanguard. It was launched on Nov 19, 2009. VLTCX is managed by Vanguard. It was launched on Jan 19, 2010.

Performance

VLCIX vs. VLTCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) and Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX). The values are adjusted to include any dividend payments, if applicable.

VLCIX vs. VLTCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares	-0.93%	7.27%	-1.43%	11.06%	-25.75%	-1.24%	13.74%	23.18%	-6.86%	12.42%
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares	-0.92%	7.27%	-1.47%	11.05%	-25.77%	-1.16%	13.68%	23.19%	-6.85%	12.40%

Returns By Period

The year-to-date returns for both investments are quite close, with VLCIX having a -0.93% return and VLTCX slightly higher at -0.92%. Both investments have delivered pretty close results over the past 10 years, with VLCIX having a 2.58% annualized return and VLTCX not far behind at 2.57%.

VLCIX

• 1D: 0.53%
• 1M: -2.55%
• YTD: -0.93%
• 6M: -1.70%
• 1Y: 3.27%
• 3Y*: 3.22%
• 5Y*: -1.59%
• 10Y*: 2.58%

VLTCX

• 1D: 0.55%
• 1M: -2.53%
• YTD: -0.92%
• 6M: -1.67%
• 1Y: 3.25%
• 3Y*: 3.20%
• 5Y*: -1.61%
• 10Y*: 2.57%

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

VLCIX vs. VLTCX - Expense Ratio Comparison

VLCIX has a 0.05% expense ratio, which is lower than VLTCX's 0.07% 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%.

VLTCX

Vanguard Long-Term Corporate Bond Index Fund Admiral Shares

VLCIX

Vanguard Long-Term Corporate Bond Index Fund Institutional Shares

Return for Risk

VLCIX vs. VLTCX — Risk / Return Rank

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

VLCIX

VLCIX Risk / Return Rank: 15
VLCIX Sharpe Ratio Rank: 13
VLCIX Sortino Ratio Rank: 11
VLCIX Omega Ratio Rank: 10
VLCIX Calmar Ratio Rank: 24
VLCIX Martin Ratio Rank: 16

VLTCX

VLTCX Risk / Return Rank: 16
VLTCX Sharpe Ratio Rank: 14
VLTCX Sortino Ratio Rank: 12
VLTCX Omega Ratio Rank: 11
VLTCX Calmar Ratio Rank: 25
VLTCX Martin Ratio Rank: 17

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.

VLCIX vs. VLTCX - 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 Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX). 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.

	VLCIX	VLTCX	Difference
Sharpe ratio Return per unit of total volatility	0.42	0.42	0.00
Sortino ratio Return per unit of downside risk	0.62	0.62	0.00
Omega ratio Gain probability vs. loss probability	1.08	1.08	0.00
Calmar ratio Return relative to maximum drawdown	0.81	0.80	0.00
Martin ratio Return relative to average drawdown	1.88	1.87	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLCIX vs. VLTCX - Sharpe Ratio Comparison

The current VLCIX Sharpe Ratio is 0.42, which is comparable to the VLTCX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of VLCIX and VLTCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VLCIX	VLTCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.42	0.42	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	-0.14	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.24	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.44	0.00

Correlation

The correlation between VLCIX and VLTCX is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VLCIX vs. VLTCX - Dividend Comparison

VLCIX's dividend yield for the trailing twelve months is around 5.15%, which matches VLTCX's 5.13% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLCIX Vanguard Long-Term Corporate Bond Index Fund Institutional Shares	5.15%	5.50%	5.60%	4.67%	4.43%	2.95%	3.17%	3.83%	4.58%	4.03%	4.39%	4.73%
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares	5.13%	5.48%	5.58%	4.65%	4.41%	3.03%	3.15%	3.82%	4.56%	4.01%	4.37%	4.71%

Drawdowns

VLCIX vs. VLTCX - Drawdown Comparison

The maximum VLCIX drawdown since its inception was -34.56%, roughly equal to the maximum VLTCX drawdown of -34.56%. Use the drawdown chart below to compare losses from any high point for VLCIX and VLTCX.

Drawdown Indicators

	VLCIX	VLTCX	Difference
Max Drawdown Largest peak-to-trough decline	-34.56%	-34.56%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-5.26%	-5.29%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-34.56%	-34.56%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-34.56%	-34.56%	0.00%
Current Drawdown Current decline from peak	-15.57%	-15.61%	+0.04%
Average Drawdown Average peak-to-trough decline	-7.97%	-7.97%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.28%	-0.02%

Volatility

VLCIX vs. VLTCX - Volatility Comparison

Vanguard Long-Term Corporate Bond Index Fund Institutional Shares (VLCIX) and Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) have volatilities of 3.49% and 3.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLCIX	VLTCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	3.50%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	5.24%	5.27%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	8.92%	8.94%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.88%	11.87%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.60%	10.60%	0.00%