VLTCX vs. QLTA
VLTCX (Vanguard Long-Term Corporate Bond Index Fund Admiral Shares) and QLTA (iShares Aaa - A Rated Corporate Bond ETF) are both Corporate Bonds funds. Over the past 10 years, VLTCX returned 2.42%/yr vs 2.00%/yr for QLTA. Their correlation of 0.85 suggests significant overlap in exposure. VLTCX charges 0.07%/yr vs 0.15%/yr for QLTA.
Performance
VLTCX vs. QLTA - Performance Comparison
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Returns By Period
In the year-to-date period, VLTCX achieves a 1.22% return, which is significantly higher than QLTA's 0.31% return. Over the past 10 years, VLTCX has outperformed QLTA with an annualized return of 2.42%, while QLTA has yielded a comparatively lower 2.00% annualized return.
VLTCX
- 1D
- 0.10%
- 1M
- 1.99%
- YTD
- 1.22%
- 6M
- 0.35%
- 1Y
- 8.16%
- 3Y*
- 4.67%
- 5Y*
- -1.46%
- 10Y*
- 2.42%
QLTA
- 1D
- -0.19%
- 1M
- 0.50%
- YTD
- 0.31%
- 6M
- 0.04%
- 1Y
- 5.42%
- 3Y*
- 4.51%
- 5Y*
- 0.10%
- 10Y*
- 2.00%
VLTCX vs. QLTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 1.22% | 7.27% | -1.47% | 11.05% | -25.77% | -1.16% | 13.68% | 23.19% | -6.85% | 12.40% |
QLTA iShares Aaa - A Rated Corporate Bond ETF | 0.31% | 7.36% | 1.23% | 7.60% | -15.14% | -2.32% | 9.62% | 12.54% | -2.27% | 5.69% |
Correlation
The correlation between VLTCX and QLTA is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2012 | 0.85 |
The correlation between VLTCX and QLTA shifts across timeframes, from 0.85 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VLTCX vs. QLTA — Risk / Return Rank
VLTCX
QLTA
VLTCX vs. QLTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) and iShares Aaa - A Rated Corporate Bond ETF (QLTA). 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.
| VLTCX | QLTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.94 | -0.33 |
| Martin ratioReturn relative to average drawdown | 3.93 | 5.80 | -1.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VLTCX | QLTA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 1.25 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.01 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.29 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.40 | +0.05 |
Drawdowns
VLTCX vs. QLTA - Drawdown Comparison
The maximum VLTCX drawdown since its inception was -34.56%, which is greater than QLTA's maximum drawdown of -22.27%. Use the drawdown chart below to compare losses from any high point for VLTCX and QLTA.
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Drawdown Indicators
| VLTCX | QLTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.56% | -22.27% | -12.29% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -2.81% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -12.87% | -6.66% | -6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -34.56% | -21.36% | -13.20% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | -22.27% | -12.29% |
Current DrawdownCurrent decline from peak | -13.80% | -3.41% | -10.39% |
Average DrawdownAverage peak-to-trough decline | -8.04% | -4.68% | -3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.94% | +1.21% |
Volatility
VLTCX vs. QLTA - Volatility Comparison
Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) has a higher volatility of 2.46% compared to iShares Aaa - A Rated Corporate Bond ETF (QLTA) at 1.37%. This indicates that VLTCX's price experiences larger fluctuations and is considered to be riskier than QLTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLTCX | QLTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 1.37% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 3.19% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 4.37% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.87% | 7.22% | +4.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.60% | 7.02% | +3.58% |
VLTCX vs. QLTA - Expense Ratio Comparison
VLTCX has a 0.07% expense ratio, which is lower than QLTA's 0.15% 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%.
Dividends
VLTCX vs. QLTA - Dividend Comparison
VLTCX's dividend yield for the trailing twelve months is around 5.50%, more than QLTA's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLTA iShares Aaa - A Rated Corporate Bond ETF | 4.47% | 4.33% | 4.11% | 3.39% | 2.79% | 1.96% | 2.31% | 2.99% | 3.09% | 2.67% | 2.59% | 2.99% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 5.50% | 5.48% | 5.58% | 4.65% | 4.41% | 3.03% | 3.15% | 3.82% | 4.56% | 4.01% | 4.37% | 4.71% |
Frequently Asked Questions
With a correlation of 0.95, VLTCX and QLTA 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.
VLTCX has higher volatility (2.46%) compared to QLTA (1.37%). In terms of maximum drawdown, VLTCX dropped -34.56% vs QLTA's -22.27%.
QLTA currently has the higher Sharpe Ratio (1.25 vs 1.11), 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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