What this ETF is trying to do

The Vanguard Long-Term Corporate Bond Index Fund ETF Shares (VCLT) is an exchange-traded fund (ETF) that focuses on long-term corporate bonds.

What the numbers show

As of September 18, 2026, the current price of one share is $71.19. An estimated price from roughly one year ago was about $77.89.

When looking at this ETF, it is important to understand two different types of returns:

• Price Return: This only measures how much the share price itself changes. For the past year, the price return was -8.60%. The year-to-date (YTD) price return was -6.14%.

• Total Return: This measures the overall change, including both the share price and any cash payments made to investors. Over the last year, the total return was -3.47%. However, looking further back, the three-year total return was 12.12%.

Income and distribution explanation

This ETF provides regular cash payments to investors, known as distributions. The distribution yield is approximately 5.77%. These payments usually happen monthly, and there were 12 payments made over the last year.

It is important to remember that a high distribution yield does not mean an investor will earn that same percentage as their total return. Total return is the more complete picture of how much money was made or lost.

NAV erosion explanation

"NAV erosion" refers to a decline in the value of the fund's underlying assets. This ETF has an erosion-risk score of 75, which is described as "mild price erosion." This means there is a mild risk level regarding how the price has been moving.

Pros

• The ETF provides regular cash income, usually on a monthly basis.

• The three-year total return was positive at 12.12%.

Cons

• The share price has seen a decline recently, with negative price returns for the year-to-date and one-year periods.

• The five-year total return is -16.57%.

• No top holdings were provided in the current data.

Beginner takeaway

When studying an ETF like VCLT, always look at both the share price and the total return. A fund might pay out regular cash (the distribution yield), but the actual price of the shares can still go down. This is why understanding the difference between a "price return" and a "total return" is so important for new investors.