VWEHX vs. VLTCX
VWEHX (Vanguard High-Yield Corporate Fund Investor Shares) and VLTCX (Vanguard Long-Term Corporate Bond Index Fund Admiral Shares) are both mutual funds - VWEHX is a High Yield Bonds fund managed by Vanguard, while VLTCX is a Corporate Bonds fund managed by Vanguard. Over the past 10 years, VWEHX returned 5.13%/yr vs 2.37%/yr for VLTCX. At a 0.22 correlation, their price movements are largely independent. VWEHX charges 0.23%/yr vs 0.07%/yr for VLTCX.
Performance
VWEHX vs. VLTCX - Performance Comparison
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Returns By Period
In the year-to-date period, VWEHX achieves a 0.97% return, which is significantly higher than VLTCX's 0.77% return. Over the past 10 years, VWEHX has outperformed VLTCX with an annualized return of 5.13%, while VLTCX has yielded a comparatively lower 2.37% annualized return.
VWEHX
- 1D
- -0.18%
- 1M
- 0.35%
- YTD
- 0.97%
- 6M
- 1.67%
- 1Y
- 6.62%
- 3Y*
- 8.10%
- 5Y*
- 4.05%
- 10Y*
- 5.13%
VLTCX
- 1D
- -0.45%
- 1M
- 0.82%
- YTD
- 0.77%
- 6M
- 0.15%
- 1Y
- 6.39%
- 3Y*
- 4.51%
- 5Y*
- -1.75%
- 10Y*
- 2.37%
VWEHX vs. VLTCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 0.97% | 9.38% | 6.33% | 11.66% | -9.04% | 2.97% | 5.30% | 15.81% | -2.93% | 7.05% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 0.77% | 7.27% | -1.47% | 11.05% | -25.77% | -1.16% | 13.68% | 23.19% | -6.85% | 12.40% |
Correlation
The correlation between VWEHX and VLTCX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.22 |
Over the past year, VWEHX and VLTCX have become more correlated (0.47) than their long-term average of 0.22, meaning their price movements have been converging.
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Return for Risk
VWEHX vs. VLTCX — Risk / Return Rank
VWEHX
VLTCX
VWEHX vs. VLTCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) 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.
| VWEHX | VLTCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.17 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 1.46 | +1.26 |
| Martin ratioReturn relative to average drawdown | 13.82 | 3.57 | +10.25 |
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
| VWEHX | VLTCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 1.01 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | -0.15 | +0.98 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 0.22 | +0.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.45 | +0.43 |
Drawdowns
VWEHX vs. VLTCX - Drawdown Comparison
The maximum VWEHX drawdown since its inception was -30.17%, smaller than the maximum VLTCX drawdown of -34.56%. Use the drawdown chart below to compare losses from any high point for VWEHX and VLTCX.
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Drawdown Indicators
| VWEHX | VLTCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.17% | -34.56% | +4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -5.29% | +2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -3.33% | -12.87% | +9.54% |
Max Drawdown (5Y)Largest decline over 5 years | -13.83% | -34.56% | +20.73% |
Max Drawdown (10Y)Largest decline over 10 years | -19.69% | -34.56% | +14.87% |
Current DrawdownCurrent decline from peak | -0.18% | -14.18% | +14.00% |
Average DrawdownAverage peak-to-trough decline | -4.29% | -8.04% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 2.15% | -1.66% |
Volatility
VWEHX vs. VLTCX - Volatility Comparison
The current volatility for Vanguard High-Yield Corporate Fund Investor Shares (VWEHX) is 0.98%, while Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) has a volatility of 2.42%. This indicates that VWEHX experiences smaller price fluctuations and is considered to be less risky than VLTCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWEHX | VLTCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 2.42% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 5.46% | -2.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 7.67% | -4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.90% | 11.87% | -6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 10.60% | -5.33% |
VWEHX vs. VLTCX - Expense Ratio Comparison
VWEHX has a 0.23% expense ratio, which is higher than VLTCX's 0.07% 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
VWEHX vs. VLTCX - Dividend Comparison
VWEHX's dividend yield for the trailing twelve months is around 6.27%, more than VLTCX's 5.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 5.53% | 5.48% | 5.58% | 4.65% | 4.41% | 3.03% | 3.15% | 3.82% | 4.56% | 4.01% | 4.37% | 4.71% |
VWEHX Vanguard High-Yield Corporate Fund Investor Shares | 6.27% | 6.15% | 6.11% | 5.68% | 5.11% | 3.43% | 4.62% | 5.24% | 5.94% | 5.29% | 5.41% | 6.42% |
Frequently Asked Questions
VWEHX and VLTCX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLTCX has higher volatility (2.42%) compared to VWEHX (0.98%). In terms of maximum drawdown, VWEHX dropped -30.17% vs VLTCX's -34.56%.
VWEHX currently has the higher Sharpe Ratio (2.11 vs 1.01), 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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