Data as of Oct 28, 2026.
TLT vs VCLT: Differences, Returns & Fees
TLT's duration was 15.1 years on Aug 31, 2026 and VCLT's 12.0 on May 31, 2026; VCLT charges 0.03% to TLT's 0.15%.
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Net assets: $47.4bn on Oct 27, 2026 for iShares 20+ Year Treasury Bond ETF, and $7.5bn on Sep 30, 2026 for Vanguard Long-Term Corporate Bond ETF.
Pair scorecard
VCLT costs 0.12 points a year less; their one-year returns differ by 2.0 points; TLT is 6.2 times larger.
| Measure | TLT | VCLT |
|---|---|---|
| Return | ||
| Total return, 1 year | −7.9% | −5.9% |
| Drawdown | ||
| Below its high | 42.6%, high on Aug 4, 2020 | 17.8%, high on Sep 22, 2021 |
| Benchmark | ||
| What it tracks | ICE U.S. Treasury 20+ Year Bond Index | Bloomberg U.S. 10+ Year Corporate Bond Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, as of Sep 30, 2026 | $46.2bn | $7.5bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Aug 31, 2026. Method
Risk and return
Dec 4, 2009 to Oct 23, 2026 · 881 weekly returnsVCLT returned more: +101.2% to +43.5%. VCLT swung less: 12.5% to 13.9%. VCLT fell less at its worst: −34.0% to −47.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | TLT | VCLT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +43.5% | +101.2% | VCLT | Price change plus distributions, reinvested. |
| Annualized | +2.2% | +4.2% | VCLT | Total return as a yearly rate. |
| Price return | −12.9% | −6.3% | VCLT | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 13.9% | 12.5% | VCLT | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.9% | 8.7% | VCLT | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −47.8% | −34.0% | VCLT | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.11 | 0.27 | VCLT | Return above Treasury bills per unit of volatility. |
| Sortino | 0.16 | 0.39 | VCLT | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.05 | 0.12 | VCLT | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 881 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, TLT and VCLT hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Aug 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
TLT and VCLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
TLT and VCLT do different jobs. What does each one do in a portfolio?
- What each follows. TLT follows ICE U.S. Treasury 20+ Year Bond Index and VCLT follows Bloomberg U.S. 10+ Year Corporate Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026 and May 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 TLT returned −7.9% and VCLT −5.9% with distributions reinvested, a gap of 2.0 points.
Data as of Oct 28, 2026.
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TLT
TLT tracks an index of 20+ year Treasuries. Over the year to Oct 28, 2026 it returned −7.9% with distributions reinvested, against −7.8% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. The prospectus expense ratio is 0.15% a year. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.
VCLT
VCLT tracks an index of Long-Term Corporate Bond. Over the year to Oct 28, 2026 it returned −5.9% with distributions reinvested. The prospectus expense ratio is 0.03% a year. It sat 17.8% below its high of Sep 22, 2021 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, TLT or VCLT?
- In the year to Oct 28, 2026, with distributions reinvested, TLT returned −7.9% and VCLT −5.9%.
- Which is cheaper, TLT or VCLT?
- VCLT is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, TLT against VCLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/tlt-vs-vclt
ETFIQ. (Oct 28, 2026). TLT against VCLT. Retrieved from https://etfiq.com/compare/any/tlt-vs-vclt
[TLT against VCLT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/tlt-vs-vclt)
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