VTC vs. VCLT
VTC (Vanguard Total Corporate Bond ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds from Vanguard - VTC tracks the Bloomberg Barclays U.S. Corporate Bond Index while VCLT tracks the Barclays U.S. 10+ Year Corporate Index. Both are passively managed. Over the past 5 years, VTC returned 0.51%/yr vs -1.78%/yr for VCLT. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.
Performance
VTC vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, VTC achieves a 0.60% return, which is significantly lower than VCLT's 0.99% return.
VTC
- 1D
- -0.22%
- 1M
- 0.63%
- YTD
- 0.60%
- 6M
- 0.33%
- 1Y
- 5.99%
- 3Y*
- 5.22%
- 5Y*
- 0.51%
- 10Y*
- —
VCLT
- 1D
- -0.35%
- 1M
- 1.49%
- YTD
- 0.99%
- 6M
- -0.04%
- 1Y
- 7.69%
- 3Y*
- 4.34%
- 5Y*
- -1.78%
- 10Y*
- 2.31%
VTC vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTC Vanguard Total Corporate Bond ETF | 0.60% | 7.58% | 2.15% | 8.58% | -15.68% | -1.41% | 9.30% | 14.60% | -2.55% | 0.84% |
VCLT Vanguard Long-Term Corporate Bond ETF | 0.99% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 2.33% |
Correlation
The correlation between VTC and VCLT is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017 | 0.95 |
The correlation between VTC and VCLT has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
VTC vs. VCLT — Risk / Return Rank
VTC
VCLT
VTC vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Corporate Bond ETF (VTC) 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.
| VTC | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.17 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 1.47 | +0.62 |
| Martin ratioReturn relative to average drawdown | 6.63 | 3.62 | +3.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTC | VCLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 0.97 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | -0.14 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.39 | -0.08 |
Drawdowns
VTC vs. VCLT - Drawdown Comparison
The maximum VTC drawdown since its inception was -22.05%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for VTC and VCLT.
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Drawdown Indicators
| VTC | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.05% | -34.31% | +12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -5.25% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -13.03% | +6.57% |
Max Drawdown (5Y)Largest decline over 5 years | -22.05% | -34.31% | +12.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.31% | — |
Current DrawdownCurrent decline from peak | -0.99% | -14.36% | +13.37% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -8.16% | +2.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.13% | -1.23% |
Volatility
VTC vs. VCLT - Volatility Comparison
The current volatility for Vanguard Total Corporate Bond ETF (VTC) is 1.43%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 2.31%. This indicates that VTC experiences smaller price fluctuations and is considered to be less risky 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
| VTC | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 2.31% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 5.75% | -2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 7.92% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 12.78% | -5.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.68% | 12.84% | -5.16% |
VTC vs. VCLT - Expense Ratio Comparison
Both VTC and VCLT have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VTC vs. VCLT - Dividend Comparison
VTC's dividend yield for the trailing twelve months is around 4.93%, less than VCLT's 5.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.55% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
VTC Vanguard Total Corporate Bond ETF | 4.93% | 4.76% | 4.50% | 3.80% | 3.13% | 2.36% | 2.69% | 3.34% | 3.53% | 0.55% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, VTC and VCLT 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.
VCLT has higher volatility (2.31%) compared to VTC (1.43%). In terms of maximum drawdown, VTC dropped -22.05% vs VCLT's -34.31%.
On 5-year performance, VTC leads with 0.51% vs -1.78% for VCLT. Both ETFs have the same 0.04% expense ratio. On volatility, VTC has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VTC has performed better with a 0.51% return vs -1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTC and VCLT have the same expense ratio: 0.04% per year.
VCLT has the higher dividend yield at 5.55%, compared with 4.93% for VTC.
VTC tracks Bloomberg Barclays U.S. Corporate Bond Index, while VCLT tracks Barclays U.S. 10+ Year Corporate Index.
VTC currently has the higher Sharpe Ratio (1.38 vs 0.97), 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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