VANGUARD LONG-TERM CORPORATE BOND INDEX FUND
U.S. bond index ETF · tracks Bloomberg U.S. 10+ Year Corporate Bond Index
As of its 2026 Q2 report, VANGUARD LONG-TERM CORPORATE BOND INDEX FUND held 2,780 positions with $9.22B in net assets. Its ten largest holdings made up 3.2% of the fund. The VCLT share class costs 0.03% a year. Over the 12 months to May 2026, VCLT returned 7.7%, with dividends reinvested. In 2026 Q2 it added 422 new positions and exited 220.
Vanguard Long-Term Corporate Bond Index Fund (the Fund) seeks to track the performance of a market-weighted corporate bond index with a long-term dollar-weighted average maturity.
The fund tracks the Bloomberg U.S. 10+ Year Corporate Bond Index using a sampling approach, holding a range of investment-grade corporate bonds with maturities over 10 years that collectively approximate the index's risk factors and characteristics. Because the fund samples rather than holds all index constituents, its returns may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 0.74% | $68.61M | — |
Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 4.90% · due 2046-02-01 | 0.37% | $34.24M | — |
CVS Health Corp 5.05% · due 2048-03-25 | 0.33% | $30.66M | — |
Meta Platforms Inc 5.63% · due 2055-11-15 | 0.28% | $26.26M | — |
The Boeing Co 5.80% · due 2050-05-01 | 0.27% | $24.60M | — |
Pfizer Investment Enterprises Pte Ltd 5.30% · due 2053-05-19 | 0.27% | $24.44M | — |
Amazon.com Inc 5.80% · due 2056-03-13 | 0.26% | $23.52M | — |
Oracle Corp 6.70% · due 2056-02-04 | 0.24% | $21.87M | — |
AT&T Inc 3.50% · due 2053-09-15 | 0.23% | $21.55M | — |
AT&T Inc 3.55% · due 2055-09-15 | 0.23% | $21.12M | — |
The 200 largest of 2,780 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.39% |
| Cash & short-term | 0.74% |
| Derivatives | -0.02% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Other
- 16.1%
- Utilities
- 14.2%
- Health Care
- 12.0%
- Financials
- 10.4%
- 11 other sectors
- 47.3%
- Other
- 16.1%
- Utilities
- 14.2%
- Health Care
- 12.0%
- Financials
- 10.4%
- Communication Services
- 9.3%
- Information Technology
- 8.1%
- Industrials
- 7.4%
- International
- 7.0%
- Consumer Staples
- 4.0%
- Energy
- 3.9%
- Consumer Discretionary
- 3.6%
- Materials
- 1.8%
- Real Estate
- 0.9%
- Cash
- 0.8%
- Government
- 0.3%
How it has done
VCLT share class · total returns with dividends reinvested
Volatility over the last 12 months: 6.12%. Past returns are a record, not a forecast.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.06% | +7.70% | +14.02% | -7.93% | -11.13% | |
| 0.03% | +7.69% | +14.06% | -7.89% | -11.13% | |
| 0.03% | +7.70% | +14.12% | -7.82% | -11.12% |
These classes hold the same portfolio, so the 0.11pp spread over 5 years is the cost difference between them — roughly 0.02pp a year — not a difference in what they own.
Fees & fund details
VANGUARD LONG-TERM CORPORATE BOND INDEX FUND is a U.S. bond index ETF that tracks the Bloomberg U.S. 10+ Year Corporate Bond Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Long duration
- Expense ratio, by class
- 0.03% – 0.06%· VCLT 0.03%
- Portfolio turnover
- 44.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
422 new· the largest 6
220 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 95.3% |
| Floating rate | 4.7% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 0.0% |
| 5-10y | 0.5% |
| 10y+ | 99.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 50% |
| Interest rates | 50% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +12.05 yr |
| High yield | +0.17 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.23 yr | 2% |
| 5 yr | 0.94 yr | 8% |
| 10 yr | 5.81 yr | 48% |
| 30 yr | 5.00 yr | 42% |
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.23 yr | 2% |
| 5 yr | 0.95 yr | 8% |
| 10 yr | 5.90 yr | 48% |
| 30 yr | 5.13 yr | 42% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.01 | +0.00 | $10.3k | $194 |
| 1 yr | +0.23 | +0.23 | +0.00 | $209.7k | $3.9k |
| 5 yr | +0.94 | +0.93 | +0.02 | $860.2k | $15.3k |
| 10 yr | +5.81 | +5.81 | +0.09 | $5.36m | $79.4k |
| 30 yr | +5.00 | +5.07 | +0.06 | $4.67m | $59.7k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
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