VCLT:what it yields, how rates move it and what it holds
Vanguard Long-Term Corporate Bond ETF. Portfolio as of August 31, 2026, from the fund's SEC filing (Form N-PORT).
Investment-grade corporate. Company bonds rated BBB or better.
Yield to maturity (YTM)
6.11%
+1.02 points over US Treasuries of the same maturity
As of August 31, 2026, before the fund's costs.
- If rates rise 1 pointestimated from its duration, 11.7 years
- -11.7%
- Investment gradeof the credit risk, BBB or better
- 99%
- Size2,846 positions
- $9.6B
In a few words
VCLT holds 2,846 positions. 98% of the portfolio is corporate bonds. On August 31, 2026, the bonds it holds had a yield to maturity (YTM) of 6.11% a year, before the fund's costs. Its duration is 11.7 years: if rates rise by 1 percentage point, its price falls about 11.7%. In 2022, when rates rose sharply, its total return was -25.7%.
Every ETF in Investment-grade corporateIf rates change
A rough estimate, if rates moved at once and equally at every maturity.
Price, at once
-11.7%
Over 12 months, with the yield
-5.6%
Ready-made moves
| Change in rates | At once | 12 months |
|---|---|---|
| +11.7% | +17.8% | |
| +5.9% | +12.0% | |
| 0.0% | +6.1% | |
| -5.9% | +0.3% | |
| -11.7% | -5.6% | |
| -23.4% | -17.3% |
At a yield of 6.11% and a duration of 11.7 years, a rise in rates of about 0.52 points within the year would eat the whole year's yield.
Past returns
The ETF's total return, price change plus distributions, as the fund reports it to the SEC.
Last 12 months
+0.8%
3 years, average per year
+3.7%
Worst 12 months
-31.1%
Largest fall from a peak
-31.7%
100 at the start 95.3 at the end, distributions reinvested
What it holds
Portfolio as of August 31, 2026: who issued the bonds, when they mature and the largest issuers.
Largest issuers
The 10 largest are 15.8% of the fund.
When they mature
Details
- Issuer
- Companies, 97.9%
- Positions
- 2,846
- Average coupon
- 4.80%
- Floating rate
- 4.7%
- In other currencies
- 0.0%
- Mortgage-backed
- 0.0%
- In default
- 0.00%
- Hard to value
- 0.00%
- Cash and cash funds
- 0.4%
Maturities as stated on the bonds. Mortgage bonds, many corporate bonds and city bonds can be repaid early, so in practice they mature sooner.
Similar bond ETFs
Same kind as VCLT, nearest in rate sensitivity.
- IGLBiShares 10+ Year Investment Grade Corporate Bond ETFIf rates +1%-11.7%
- SPLBState Street SPDR Portfolio Long Term Corporate Bond ETFIf rates +1%-12.6%
- LQDiShares iBoxx $ Investment Grade Corporate Bond ETFIf rates +1%-7.8%
- USIGiShares Broad USD Investment Grade Corporate Bond ETFIf rates +1%-6.2%
- VCITVanguard Intermediate-Term Corporate Bond ETFIf rates +1%-6.0%
- IGIBiShares 5-10 Year Investment Grade Corporate Bond ETFIf rates +1%-5.9%
| ETF | Yield (YTM) | If rates +1% | 2022 | Size |
|---|---|---|---|---|
| IGLBiShares 10+ Year Investment Grade Corporate Bond ETF | 6.16% | -11.7% | -25.7% | $2.9B |
| SPLBState Street SPDR Portfolio Long Term Corporate Bond ETF | 5.83% | -12.6% | -25.9% | $1.2B |
| LQDiShares iBoxx $ Investment Grade Corporate Bond ETF | 5.67% | -7.8% | -18.0% | $32.0B |
| USIGiShares Broad USD Investment Grade Corporate Bond ETF | 5.47% | -6.2% | -15.4% | $17.8B |
| VCITVanguard Intermediate-Term Corporate Bond ETF | 5.44% | -6.0% | -14.1% | $72.0B |
| IGIBiShares 5-10 Year Investment Grade Corporate Bond ETF | 5.53% | -5.9% | -14.1% | $18.7B |
The full analysis
And what about stocks?
Bonds are only one side of investing. With Ploutos AI you can analyse a company through its official SEC filings, look into its financials and understand what lies behind the numbers. Every finding comes with a reference to its source, so you can check the data behind the analysis.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
How much would VCLT fall if rates rose?
With a duration of 11.7 years, an immediate one-point rise in rates would take about 11.7% off its price. An equal fall would add about the same.
What is VCLT's yield?
On August 31, 2026, according to its filing, the bonds it holds had a yield to maturity (YTM) of 6.11% a year, before the fund's costs. That is not the distribution the ETF pays, and it moves every day with prices.
How did VCLT do in 2022?
In 2022 VCLT returned -25.7% in total, as the fund reports it.
Is this VCLT's dividend yield?
No. The yield to maturity shown here is what the bonds the fund holds would earn a year if held to maturity, at the prices on the filing date. The dividend yield measures what the ETF paid over the last 12 months against its price, and it lags, because it depends on the coupons of bonds bought earlier. The SEC yield the issuer publishes is a standardised 30-day figure after costs, and usually lands close to the yield to maturity, a little below. When rates have risen, the dividend yield is usually lower than the other two.
Related pages
This page describes what bond ETFs hold, based on their SEC filings. Bond prices change every day and past returns do not say what comes next.