BSCS vs VBCB: Grades, Fees and Holdings Compared

Invesco BulletShares 2028 Corporate Bond ETF

BSCSANasdaq

Vanguard Target Maturity 2028 Corporate Bond ETF

VBCBANasdaq

Overlap

No data

Expense ratio

VBCB −0.02pt a year

BSCS0.10%VBCB0.08%

Avg volume · 30D

BSCS 26.9×the volume

BSCS720KVBCB26.8K

BSCS vs VBCB Performance

Aug 7, 2026 – Nov 9, 2026

+0.5%BSCS+0.5%VBCB

Expense ratio: BSCS 0.10%; VBCB 0.08%, better
Fund size: BSCS $3.55B; VBCB $117M
1Y total return: BSCS +2.8%; VBCB No data
Yield (12M): BSCS 4.44%; VBCB No data
Holdings: BSCS 492; VBCB 667
Avg volume (30D): BSCS 720K sh, better; VBCB 26.8K sh
NAV per share: BSCS $20.22; VBCB $75.01
52W range

ETF.net Grade

Pillar letters and Scores for BSCS, VBCB, with each pillar’s weight
Pillar	BSCS	VBCB
Cost30% weight	C50	A89Higher
Mission25% weight	A100	A100
Risk15% weight	A70	A88Higher
Tradability15% weight	A71Higher	C40
Holdings10% weight	A81	A84Higher
Durability5% weight	A72Higher	C54

Rank among Defined-Maturity Investment Grade Corporate funds

How we build Categories ›

Same Category. BSCS and VBCB are both graded against the same 42 Defined-Maturity Investment Grade Corporate funds, so their Grades compare head to head.

Defined-Maturity Investment Grade Corporate⁠

Category · 42 funds

See all 42 ›

VBCB ranks 1st and BSCS 9th of 42 funds in the Defined-Maturity Investment Grade Corporate Category.

Rank 1AVBCBVanguard Target Maturity 2028 Corporate Bond ETFScore 81
Rank 2AVBCCVanguard Target Maturity 2029 Corporate Bond ETFScore 78
Rank 8AIBDRiShares iBonds Dec 2026 Term Corporate ETFScore 73
Rank 9ABSCSInvesco BulletShares 2028 Corporate Bond ETFScore 72
Rank 9AIBDSiShares iBonds Dec 2027 Term Corporate ETFScore 72

Our read on each fund

ETF.net Research

BSCSAInvesco BulletShares 2028 Corporate Bond ETF

VBCBAVanguard Target Maturity 2028 Corporate Bond ETF

In short

BSCS One rung of a corporate bond ladder in a single ticket: roughly 500 investment-grade corporates that effectively mature in 2028, held to maturity, with income paid monthly along the way.

VBCB Vanguard finally showed up to the bond-ladder party. VBCB owns U.S. investment-grade corporate bonds that all mature in 2028, and it undercuts the typical target-maturity rung on fees.

Stated mandate

BSCS The fund seeks to track a held-to-maturity portfolio of U.S.-dollar investment-grade corporate bonds with effective maturities in 2028. It invests at least 80% of assets in bonds comprising its underlying index.

VBCB The fund seeks to track a market-weighted index of U.S.-dollar-denominated, investment-grade corporate bonds that mature in 2028.

Why people hold it

BSCS Behaves more like a bond than a bond fund: the portfolio is built to be held to maturity, with all its bonds effectively maturing in 2028.invesco.com
About 500 investment-grade corporate bonds, so no single issuer's stumble decides the outcome.
0.10% a year, level with the median target-maturity bond fund and the same rate Invesco charges on its 2029 and 2030 rungs (BSCT, BSCU).
Pays monthly, runs in the billions, and trades actively, a useful combination when you are building a ladder year by year.

VBCB Charges 0.08% a year, below the 0.10% typical for target-maturity bond funds and below the iBonds and BulletShares rungs (IBDU, BSCT, BSCU) it lines up against.
Every bond in the index is dollar-denominated investment grade maturing in 2028: one rung of a bond ladder in one ticker, with income paid quarterly.
A plain market-weighted ICE index run through Vanguard's index plumbing, and one of the stronger builds in the target-maturity bond group.

Worth knowing

BSCS Corporate credit, not government paper. Investment-grade issuers can still be downgraded or default, and a fixed maturity year does not change that.
As 2028 approaches, bonds roll off and the portfolio's remaining life shortens, so its character shifts toward short-dated cash-like holdings.
Vanguard's 2028 corporate rung (VBCB) charges 0.08%, slightly less for the same maturity year.

VBCB Launched in 2026 and still small, it trades thinly, so spreads can run wider than on the long-established corporate ladders.
Corporate credit, not Treasuries. Investment grade lowers the odds of trouble, but downgrades and defaults stay in the mix.
One maturity year, not a whole curve. This is a rung, not a stand-in for a broad bond fund.

Full BSCS profile⁠

Full VBCB profile⁠

BSCS vs VBCB Holdings

How BSCS and VBCB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile92.3%
Asset classBonds100%
Sector1 Sector100%

Sector

Sector weights in BSCS and VBCB, widest gap first
Sector	More in BSCSMore in VBCB	Gap	BSCS	VBCB
Corporate		Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

Country weights in BSCS and VBCB, widest gap first
Country	Gap	BSCS	VBCB
United States	BSCS +5.8 points	86.4%	80.6%
United Kingdom	VBCB +3.1 points	1.8%	4.9%
Australia	VBCB +2.0 points	0.0%	2.0%
Germany	VBCB +1.0 points	0.0%	0.9%
Netherlands	VBCB +0.6 points	0.1%	0.7%
Switzerland	VBCB +0.6 points	0.0%	0.6%
Other countries (11)	BSCS +1.4 points	11.7%	10.3%

Concentration

Weight in the 10 largest Holdings

BSCS8.1%
VBCB6.2%

Securities held

BSCS490
VBCB662

Asset class

BSCS: Bonds
VBCB: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BSCS holds 490 securities, VBCB 662.

All 490 BSCS holdings⁠All 664 VBCB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BSCS vs VBCB Cost

Overpaying BSCS vs VBCB

$417

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BSCS 0.10%
$2,106
VBCB 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

BSCS 0.10%
VBCB 0.08%
Overpaying

Year by year

Year	BSCS	VBCB	Overpaying
10	$183	$147	$36
20	$717	$575	$142
30	$2,106	$1,689	$417

Expense ratio

0.10%BSCS
0.08%VBCB, cheaper

VBCB0.08%BSCS0.10%

0.08%0.15%

Middle half of Defined-Maturity Investment Grade Corporate funds
Median 0.10%

VBCB cheapest of 42 funds

BSCS 11th cheapest of 42 funds

BSCS vs VBCB Dividends

Last 12 months to Nov 9, 2026

Yield (12M): BSCS 4.44%; VBCB No data
Payout (12M): BSCS $0.90; VBCB No data
Last payment: BSCS $0.08; VBCB $0.26
Ex-dividend: BSCS Oct 19, 2026; VBCB Nov 2, 2026
Paid on: BSCS Oct 23, 2026; VBCB Nov 4, 2026
Frequency: BSCS Monthly; VBCB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BSCSMonthly · 46 paymentsAll BSCS payments⁠

VBCBMonthly · 7 paymentsAll VBCB payments⁠

BSCS vs VBCB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BSCS 3.4%VBCB No data
Return per unit of riskSharpe ratio, 3 years: BSCS 0.55VBCB No data
Worst fallMax drawdown, 5 years: BSCS −16.4%VBCB No data
Market sensitivityBeta, 5 years: BSCS 0.59VBCB 0.05; Market = 1

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