VPLS vs. IUSB
VPLS (Vanguard Core-Plus Bond ETF) and IUSB (iShares Core Universal USD Bond ETF) are both Intermediate Core-Plus Bond funds. VPLS is actively managed, while IUSB is passively managed. Over the past year, VPLS returned 5.14% vs 4.68% for IUSB. With a 0.97 correlation, they move nearly in lockstep. VPLS charges 0.20%/yr vs 0.06%/yr for IUSB.
Performance
VPLS vs. IUSB - Performance Comparison
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Returns By Period
In the year-to-date period, VPLS achieves a 0.90% return, which is significantly higher than IUSB's 0.67% return.
VPLS
- 1D
- 0.10%
- 1M
- 0.72%
- YTD
- 0.90%
- 6M
- 1.01%
- 1Y
- 5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IUSB
- 1D
- 0.13%
- 1M
- 0.70%
- YTD
- 0.67%
- 6M
- 0.76%
- 1Y
- 4.68%
- 3Y*
- 4.52%
- 5Y*
- 0.42%
- 10Y*
- 1.90%
VPLS vs. IUSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VPLS Vanguard Core-Plus Bond ETF | 0.90% | 7.86% | 2.72% | 2.83% |
IUSB iShares Core Universal USD Bond ETF | 0.67% | 7.38% | 2.11% | 2.30% |
Correlation
The correlation between VPLS and IUSB is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023 | 0.97 |
The correlation between VPLS and IUSB has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
VPLS vs. IUSB — Risk / Return Rank
VPLS
IUSB
VPLS vs. IUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) and iShares Core Universal USD Bond ETF (IUSB). 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.
| VPLS | IUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.86 | +0.04 |
| Martin ratioReturn relative to average drawdown | 5.92 | 5.36 | +0.56 |
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Drawdowns
VPLS vs. IUSB - Drawdown Comparison
The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum IUSB drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for VPLS and IUSB.
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Drawdown Indicators
| VPLS | IUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.17% | -17.90% | +13.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.53% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.90% | — |
Current DrawdownCurrent decline from peak | -0.96% | -1.09% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -3.58% | +2.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.88% | -0.01% |
Volatility
VPLS vs. IUSB - Volatility Comparison
The current volatility for Vanguard Core-Plus Bond ETF (VPLS) is 0.96%, while iShares Core Universal USD Bond ETF (IUSB) has a volatility of 1.08%. This indicates that VPLS experiences smaller price fluctuations and is considered to be less risky than IUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPLS | IUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.08% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.72% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 3.58% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.59% | 5.80% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.59% | 5.04% | -0.45% |
VPLS vs. IUSB - Expense Ratio Comparison
VPLS has a 0.20% expense ratio, which is higher than IUSB's 0.06% 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
VPLS vs. IUSB - Dividend Comparison
VPLS's dividend yield for the trailing twelve months is around 4.75%, more than IUSB's 4.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 4.22% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
VPLS Vanguard Core-Plus Bond ETF | 4.75% | 4.78% | 4.52% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, VPLS and IUSB 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.
IUSB has higher volatility (1.08%) compared to VPLS (0.96%). In terms of maximum drawdown, VPLS dropped -4.17% vs IUSB's -17.90%.
On 1-year performance, VPLS leads with 5.14% vs 4.68% for IUSB. On fees, IUSB is cheaper at 0.06% per year. On volatility, VPLS has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VPLS has performed better with a 5.14% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.20% for VPLS.
VPLS has the higher dividend yield at 4.75%, compared with 4.22% for IUSB.
They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.20% for VPLS and 0.06% for IUSB.
VPLS currently has the higher Sharpe Ratio (1.44 vs 1.32), 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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