What does the expense ratio mean for these funds?

The expense ratio is the annual fee deducted from a fund's assets, directly impacting net returns. BLV and VCLT both charge an identical expense ratio of 0.03%, meaning the fee drag is negligible for each. This low cost structure provides a neutral baseline, allowing investors to compare other factors like dividend yields, asset scale, and underlying risk profiles without worrying about fee differences.

Why is net asset value scale important for ETFs?

Net assets reflect the total value of the fund’s holdings. VCLT stands at $8.8 billion, while BLV holds $5.5 billion. A larger asset base often suggests greater liquidity, potentially making it easier to trade large volumes of shares without affecting market price. Both funds are substantial in scale, ensuring reasonable liquidity for most investors, though VCLT offers slightly more depth due to its higher total assets.

How does the dividend yield differ between the two funds?

The dividend yield indicates income generated relative to share price. VCLT currently offers a yield of 5.74%, slightly higher than BLV’s 5.01%. Higher yields may appeal to those prioritising income. However, yields fluctuate with market interest rates. Understanding these differences requires considering that VCLT focuses on corporate bonds, which typically provide higher yields than government bonds, reflecting the additional credit risk associated with private issuers.

What role does the top holdings overlap play?

Top holdings overlap indicates portfolio similarity. The comparison data shows no shared top-10 holdings between BLV and VCLT. This suggests distinct underlying portfolios despite both being long-term bond funds. Limited overlap means each fund captures different segments of the bond market, leading to varied risk and return behaviours. Checking these details helps investors understand how two seemingly similar funds are actually quite different.

What are the typical goals associated with BLV?

BLV, tracking long-term government and investment-grade corporate bonds, generally suits investors seeking income generation and diversification across broader bond markets rather than focusing solely on corporate risk. It helps balance equity portfolios by adding a duration-sensitive component. Investors choosing BLV often aim for a standardised long-term bond exposure that captures the general bond market's performance while prioritising broad diversification over niche corporate yields.

What are the typical goals associated with VCLT?

VCLT focuses specifically on long-term investment-grade corporate bonds. This strategy typically attracts investors seeking higher yields compared to government-heavy funds. It suits those comfortable with taking on slightly more credit risk to boost income. Investors considering VCLT often look for enhanced income generation and specific exposure to the corporate debt segment of the market, distinct from broader general bond indices.

How does the lack of sector weight data affect analysis?

Neither BLV nor VCLT provides specific sector weight data or top holdings transparency in this dataset. This absence limits the ability to fully assess diversification. Without seeing exact sector weights, investors cannot determine concentration levels or verify the degree of corporate versus government bond exposure. This gap makes precise risk modelling more challenging, as standard diversification metrics remain unavailable for detailed due diligence.

What does 'index tracked: not available' mean?

The data indicates that the specific index tracked by neither BLV nor VCLT is available. This means the exact benchmark and methodology used to construct the bond portfolio are not provided in this dataset. Investors cannot review the precise rules for bond inclusion, maturity dates, or credit quality thresholds. Without these details, comparing the underlying construction logic and replicating the funds’ strategies becomes difficult.

How does VCLT's corporate focus influence credit risk?

VCLT targets corporate bonds, which inherently carry higher credit risk than government-only alternatives because private companies may face solvency issues. While specific holdings are unavailable, the nature of corporate debt implies exposure to issuer-specific default risks. Investors must consider that while this often results in higher yields, the potential for capital loss is elevated compared to funds holding strictly government-backed securities.

What does the inception date tell us?

BLV was established in April 2007, while VCLT started in November 2009. These dates highlight differing operational histories. BLV offers a longer record for observing performance through various economic cycles, while VCLT’s shorter history still spans over a decade, providing a substantial track record. Inception dates help assess stability and how each fund has managed its respective bond market segment over time.

How do long-term bond funds react to interest rate changes?

Long-term bond funds like BLV and VCLT are sensitive to interest rate movements due to their extended durations. Generally, when interest rates rise, bond prices fall, potentially reducing the value of these funds. Conversely, falling rates typically support bond prices. The degree of price movement depends on the specific portfolio composition, but the shared 'long-term' classification indicates heightened sensitivity to market rate shifts.

Where can I find the current holdings for these funds?

The provided data does not include specific holdings or sector weights. To find accurate, current holdings, investors should consult the official Vanguard websites for each fund. Those sources provide transparent, regularly updated lists of securities, maturity profiles, and credit quality ratings. Accessing primary data ensures you can make informed decisions based on the fund's actual current composition.

BLV vs VCLT

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare BLV and VCLT, two Vanguard long-term bond ETFs. Review fees, holdings, dividends and tracking to understand how each fund captures market returns. Both funds share an identical 0.03% expense ratio, offering a neutral baseline for your research into income generation and risk profiles. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

BLV

Metric

VCLT

0.03%

Expense Ratio

0.03%

5.01%

Dividend Yield

5.74%

$5.51B

Net Assets

$8.82B

2,932

Holdings

2,861

Apr 3, 2007

Inception Date

Nov 19, 2009

–

Index Tracked

–

Long-Term Bond

Fund Category

Long-Term Bond

Both funds charge the same annual fee.

Shared Top Holdings

These funds do not share any of their top holdings.

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BLV vs VGLT

Compare BLV and VGLT. Review fees, dividends, holdings, and tracking. Both have 0.03% expense ratios. Data includes assets and yields. Neutral analysis.

VCIT vs VCLT

Compare VCIT and VCLT: both 0.03% expense ratios, $68.3bn vs $8.8bn assets, 4.97% vs 5.74% yields, intermediate vs long-term corporate bond focus and tracking.

Investment Analysis

BLV

Pros

BLV benefits from an exceptionally low expense ratio of 0.03 percent, minimising ongoing cost drag.
The fund holds $5.5 billion in net assets, providing reasonable liquidity and scale for investors.
Inception in April 2007 gives BLV a long operational history for assessing tracking stability.

Considerations

Specific index methodology and top holdings are not available, limiting transparency into risk factors.
Dividend yield of 5.01 percent is lower than many alternative long-term bond ETFs.
Absence of sector weight data makes it difficult to assess diversification across the bond market.

VCLT

Pros

VCLT offers a higher dividend yield of 5.74 percent, appealing to income-focused investors.
Net assets stand at $8.8 billion, indicating a larger scale and potentially enhanced liquidity.
Inception in November 2009 provides a substantial track record for evaluating long-term performance.

Considerations

Index methodology and specific holdings details are not available, reducing transparency for due diligence.
Sector weights are not disclosed, making it hard to verify concentration in corporate bonds.
VCLT may hold slightly higher credit risk than government-only alternatives, though this cannot be quantified.

About BLV and VCLT

BLV (BLV)

The Vanguard Long-Term Bond Index Fund ETF (BLV) is an exchange-traded fund designed to offer exposure to a broad, diversified portfolio of long-term, higher-quality U.S. bonds. With a remarkably low expense ratio of 0.03%, it aims to match the performance of the long-term investment-grade bond market. As of its inception in April 2007, the fund has accumulated net assets of USD 5.51 billion, holding a diversified selection of 2,932 bonds. Investors seeking income might note its dividend yield of 5.01%. It is essential to remember that bond values can fluctuate with interest rate changes, and returns are not guaranteed. This fund serves as a general investment vehicle for those interested in long-duration fixed-income markets.

VCLT (VCLT)

The Vanguard Long-Term Corporate Bond ETF aims to track the investment results of an index composed of long-duration corporate bonds. It provides exposure to investment-grade corporate debt with maturities typically exceeding ten years. With a low expense ratio of 0.03%, this ETF offers a cost-efficient way for investors to gain access to the corporate bond market. It holds a diversified portfolio of over 2,800 bonds, managed by Vanguard. While the fund does not have a specified market cap as it is an ETF, its net assets stand at approximately USD 8.82 billion. Investors should note that while the fund offers a dividend yield of 5.74%, bond prices are sensitive to interest rate changes, meaning the value can fluctuate significantly. This fund is designed for those seeking long-term fixed-income exposure rather than short-term capital gains.

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BLV vs VCLT

Fund Snapshot

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Investment Analysis

BLV

Pros

Considerations

VCLT

Pros

Considerations

About BLV and VCLT

Buy BLV or VCLT in Nemo

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Trusted & Regulated

6% Interest on Cash

Frequently asked questions

What does the expense ratio mean for these funds?

Why is net asset value scale important for ETFs?

How does the dividend yield differ between the two funds?

What role does the top holdings overlap play?

What are the typical goals associated with BLV?

What are the typical goals associated with VCLT?

How does the lack of sector weight data affect analysis?

What does 'index tracked: not available' mean?

How does VCLT's corporate focus influence credit risk?

What does the inception date tell us?

How do long-term bond funds react to interest rate changes?

Where can I find the current holdings for these funds?

Fund Snapshot

About BLV and VCLT

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BLV vs VGLT

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