VOX vs. VCLT
VOX (Vanguard Communication Services ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both exchange-traded funds - VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index, while VCLT is a Corporate Bonds fund tracking the Barclays U.S. 10+ Year Corporate Index. Both are passively managed. Over the past 10 years, VOX returned 8.96%/yr vs 2.14%/yr for VCLT. At a 0.06 correlation, their price movements are largely independent. VOX charges 0.09%/yr vs 0.04%/yr for VCLT.
Performance
VOX vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, VOX achieves a -3.11% return, which is significantly lower than VCLT's 0.19% return. Over the past 10 years, VOX has outperformed VCLT with an annualized return of 8.96%, while VCLT has yielded a comparatively lower 2.14% annualized return.
VOX
- 1D
- -0.72%
- 1M
- -5.33%
- YTD
- -3.11%
- 6M
- -2.48%
- 1Y
- 15.34%
- 3Y*
- 23.12%
- 5Y*
- 7.10%
- 10Y*
- 8.96%
VCLT
- 1D
- -0.30%
- 1M
- -0.62%
- YTD
- 0.19%
- 6M
- -0.19%
- 1Y
- 6.74%
- 3Y*
- 4.19%
- 5Y*
- -2.13%
- 10Y*
- 2.14%
VOX vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOX Vanguard Communication Services ETF | -3.11% | 26.27% | 33.12% | 44.81% | -38.85% | 13.83% | 29.12% | 28.03% | -16.75% | -5.50% |
VCLT Vanguard Long-Term Corporate Bond ETF | 0.19% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between VOX and VCLT is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.06 |
Over the past year, VOX and VCLT have become more correlated (0.35) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
VOX vs. VCLT — Risk / Return Rank
VOX
VCLT
VOX vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Communication Services ETF (VOX) and Vanguard Long-Term Corporate Bond ETF (VCLT). 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.
| VOX | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.29 | -0.15 |
| Martin ratioReturn relative to average drawdown | 4.29 | 3.15 | +1.13 |
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
| VOX | VCLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.99 | 0.86 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | -0.17 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.17 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.39 | +0.04 |
Drawdowns
VOX vs. VCLT - Drawdown Comparison
The maximum VOX drawdown since its inception was -57.18%, which is greater than VCLT's maximum drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for VOX and VCLT.
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Drawdown Indicators
| VOX | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.18% | -34.31% | -22.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.56% | -5.25% | -8.31% |
Max Drawdown (3Y)Largest decline over 3 years | -21.15% | -13.03% | -8.12% |
Max Drawdown (5Y)Largest decline over 5 years | -46.76% | -34.31% | -12.45% |
Max Drawdown (10Y)Largest decline over 10 years | -46.76% | -34.31% | -12.45% |
Current DrawdownCurrent decline from peak | -6.36% | -15.03% | +8.67% |
Average DrawdownAverage peak-to-trough decline | -11.91% | -8.16% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 2.14% | +1.45% |
Volatility
VOX vs. VCLT - Volatility Comparison
Vanguard Communication Services ETF (VOX) has a higher volatility of 4.39% compared to Vanguard Long-Term Corporate Bond ETF (VCLT) at 2.27%. This indicates that VOX's price experiences larger fluctuations and is considered to be riskier than VCLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOX | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 2.27% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 11.33% | 5.80% | +5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.53% | 7.88% | +7.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.17% | 12.77% | +8.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.90% | 12.85% | +8.05% |
VOX vs. VCLT - Expense Ratio Comparison
VOX has a 0.09% expense ratio, which is higher than VCLT's 0.04% 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
VOX vs. VCLT - Dividend Comparison
VOX's dividend yield for the trailing twelve months is around 1.01%, less than VCLT's 5.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.59% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
VOX Vanguard Communication Services ETF | 1.01% | 0.95% | 1.05% | 1.03% | 0.88% | 0.93% | 0.73% | 0.90% | 2.77% | 3.83% | 2.67% | 3.55% |
Frequently Asked Questions
VOX and VCLT have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOX has higher volatility (4.39%) compared to VCLT (2.27%). In terms of maximum drawdown, VOX dropped -57.18% vs VCLT's -34.31%.
On 10-year performance, VOX leads with 8.96% vs 2.14% for VCLT. On fees, VCLT is cheaper at 0.04% per year. On volatility, VCLT has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOX has performed better with a 8.96% return vs 2.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.04% expense ratio, compared with 0.09% for VOX.
VCLT has the higher dividend yield at 5.59%, compared with 1.01% for VOX.
VOX is categorized as Communications Equities, while VCLT is Corporate Bonds. VOX tracks MSCI US Investable Market Communication Services 25/50 Index, while VCLT tracks Barclays U.S. 10+ Year Corporate Index. Their fees differ too: 0.09% for VOX and 0.04% for VCLT.
VOX currently has the higher Sharpe Ratio (0.99 vs 0.86), 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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