Vanguard ESG U.S. Corporate Bond ETF (VCEB) Performance
VCEB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.0% since Dec 31, 2025
- 1 year
- −2.4% total return
- 5 years
- −0.0% a year
- Since first price
- −0.1% a year since 2020
VCEB trailing returns vs AGG, TLT, SPY
| Period | VCEB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.2% | −0.2% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.9% | −2.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.3% | −4.6% | −1.5% | −3.8% | +7.8% |
| YTD | −2.0% | −5.4% | −1.0% | −3.4% | +12.3% |
| 1 year | −2.4% | −6.9% | −1.1% | −6.9% | +14.4% |
| 3 years | +18.3%+5.8%/yr | +3.2% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −0.2%−0.0%/yr | −18.0% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 24, 2020 | −0.4%−0.1%/yr | −19.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VCEB vs AGG
From Sep 24, 2020: VCEB grew to $9,960, AGG to $9,777.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VCEB returns by calendar year
3 of 5 full years positive. Best 2023 (+8.5%), worst 2022 (−15.1%). 2026 is year to date.
VCEB annual returns table
| Year | VCEB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −2.0% | −4.7% | −1.0% | −3.4% | +12.3% |
| 2025 | +7.5% | −2.7% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.2% | −3.7% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.5% | −6.9% | +5.7% | +2.8% | +26.2% |
| 2022 | −15.1% | −19.4% | −13.0% | −31.2% | −18.2% |
| 2021 | −2.0% | −5.1% | −1.8% | −4.6% | +28.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VCEB largest drawdowns
Now 3.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 31, 2020 | −21.6% | Oct 20, 2022 | Feb 12, 2026 | 1.8 years | 5.1 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
VCEB risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +4.7% | −0.4% | −0.3% |
| Volatility (annualized) | 6.1% | 7.8% | 7.4% |
| Sharpe ratio | 0.08 | -0.48 | -0.41 |
| Sortino ratio | 0.11 | -0.62 | -0.54 |
| Best month | +5.8% | +5.8% | +5.8% |
| Worst month | −2.7% | −5.5% | −5.5% |
| Best 12 months | +14.1% | +14.1% | +14.1% |
| Worst 12 months | −2.8% | −18.7% | −18.7% |
| Positive months | 64% | 53% | 53% |
| Beta vs S&P 500 | 0.28 | 0.35 | — |
| Correlation with S&P 500 | 0.58 | 0.70 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VCEB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −18.7% | +2.9% | +14.1% | 66% |
| 3-year (a year) | 38 | −5.5% | +2.0% | +7.4% | 55% |
| 5-year (a year) | 14 | −0.4% | +0.2% | +0.8% | 57% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
VCEB performance overview
Vanguard ESG U.S. Corporate Bond ETF (VCEB) returned −2.4% over the past year and −0.0% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned −0.1% a year, turning $10,000 into about $9,960. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −21.6%, from Dec 31, 2020 to Oct 20, 2022, and it took 3.3 years to get back to the old high. VCEB finished 3 of its 5 full calendar years with a gain; the best year was 2023 (+8.5%) and the worst 2022 (−15.1%). Volatility has been 7.4% a year.
Related: VCEB chart, VCEB dividends, VCEB bond profile. See the VCEB overview for the latest quote and fund facts.
VCEB performance FAQ
What is the VCEB return over the past year?
VCEB returned −2.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.9%.
What is the average annual return of VCEB?
VCEB has returned −0.0% a year over 5 years, −0.1% a year since September 24, 2020 (total return, distributions reinvested).
How much would $10,000 invested in VCEB be worth?
$10,000 invested in VCEB at its first recorded close on September 24, 2020 would be worth about $9,960 on October 23, 2026 with distributions reinvested.
What was the worst year for VCEB?
The worst calendar year was 2022, with a total return of −15.1%. The best was 2023 at +8.5%.
What is the biggest drawdown of VCEB?
The largest peak-to-trough decline was −21.6% between December 31, 2020 and October 20, 2022. It recovered to the old high on February 12, 2026, 3.3 years after the bottom.
How volatile is VCEB?
Over the past 3 years VCEB had an annualized volatility of 6.1% and a Sharpe ratio of 0.08 (excess return over 1–3 month T-bills per unit of risk).