INVG vs VTC: Grades, Fees and Holdings Compared

GMO Systematic Investment Grade Credit ETF

INVGBNYSE Arca

Vanguard Total Corporate Bond ETF

VTCANasdaq

Overlap

No data

Expense ratio

VTC −0.22pt a year

INVG0.25%VTC0.03%

Avg volume · 30D

VTC 31.5×the volume

INVG4.12KVTC129K

INVG vs VTC Performance

Oct 31, 2025 – Oct 30, 2026

−0.2%INVG−0.6%VTC

Expense ratio: INVG 0.25%; VTC 0.03%, better
Fund size: INVG $29M; VTC $1.6B
1Y total return: INVG −0.2%, better; VTC −0.6%
Yield (12M): INVG 5.35%, better; VTC 5.13%
Holdings: INVG 145; VTC 5209
Avg volume (30D): INVG 4.12K sh; VTC 129K sh, better
NAV per share: INVG $24.56; VTC $74.09
52W range

ETF.net Grade

Pillar letters and Scores for INVG, VTC, with each pillar’s weight
Pillar	INVG	VTC
Cost30% weight	C51	A98Higher
Mission25% weight	A100	A100
Risk15% weight	B58Higher	D35
Tradability15% weight	C46	A70Higher
Holdings10% weight	B65	A94Higher
Durability5% weight	F15	A87Higher

Rank among Investment Grade Corporate funds

How we build Categories ›

Same Category. INVG and VTC are both graded against the same 49 Investment Grade Corporate funds, so their Grades compare head to head.

Investment Grade Corporate⁠

Category · 49 funds

See all 49 ›

VTC ranks 3rd and INVG 20th of 49 funds in the Investment Grade Corporate Category.

Rank 1AUSIGiShares Broad USD Investment Grade Corporate Bond ETFScore 90
Rank 2ASPBOState Street SPDR Portfolio Corporate Bond ETFScore 89
Rank 3AVTCVanguard Total Corporate Bond ETFScore 83
Rank 4AGIGBGoldman Sachs Access Investment Grade Corporate Bond ETFScore 80
Rank 18BMIGVanEck Moody’s Analytics IG Corporate Bond ETFScore 64
Rank 20BINVGGMO Systematic Investment Grade Credit ETFScore 63
Rank 21BAVGBAvantis Credit ETFScore 62

Our read on each fund

ETF.net Research

INVGBGMO Systematic Investment Grade Credit ETF

VTCAVanguard Total Corporate Bond ETF

In short

INVG No data

VTC Most cheap corporate bond funds sell you one slice of the maturity curve. VTC buys the whole investment-grade corporate market, short to long, for 0.03% a year, and since 2025 it owns the bonds directly instead of stacking three Vanguard funds.

Stated mandate

INVG No data

VTC The Fund seeks to track a broad, market-weighted corporate bond index, specifically the Bloomberg U.S. Corporate Bond Index. It uses an indexing approach focused on investment-grade, fixed-rate, taxable corporate bonds.

Why people hold it

INVG No data

VTC 0.03% a year against a 0.19% median for investment-grade corporate ETFs. On this exact Bloomberg index, nothing in the group charges less.
One ticker, the full corporate curve. Top-graded rivals like VCIT, IGIB and IGSB each buy a single maturity band; VTC's index spans short, intermediate and long fixed-rate corporates.
No overlays, no active tilts, no credit guesswork. Market-weighted indexing of investment-grade, fixed-rate, taxable corporates, and the portfolio hews tightly to that mandate.
Income lands monthly, not quarterly, which matters if bond coupons are doing real work in your cash flow.

Worth knowing

INVG No data

VTC Whole-curve means long bonds in the mix, so prices move more with interest rates than a 1-5 year slice like IGSB does.
The plumbing changed in March 2025: Vanguard moved it from holding three underlying corporate bond ETFs to buying the index bonds directly. Same objective, same index.sec.gov
Moderately traded rather than a volume heavyweight, so spreads can run wider than the busiest corporate bond funds, particularly in choppy markets.

Full INVG profile⁠

Full VTC profile⁠

INVG vs VTC Holdings

How INVG and VTC differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile91.6%
Asset classFixed Income100%

Sector

No Sector split for INVG and VTC.

Country, concentration and asset class

Country by domicile

Country weights in INVG and VTC, widest gap first
Country	More in INVGMore in VTC	INVG	VTC
Canada	INVG +4.2 points	7.1%	2.9%
Bermuda	INVG +1.6 points	1.6%	0.0%
United Kingdom	VTC +1.6 points	2.1%	3.7%
United States	VTC +1.3 points	84.9%	86.2%
Japan	VTC +1.3 points	0.7%	2.0%
Netherlands	INVG +1.3 points	1.7%	0.4%
Australia	VTC +0.9 points	0.0%	0.9%
Ireland	INVG +0.8 points	1.3%	0.5%
Other countries (15)	VTC +2.7 points	0.7%	3.4%

Concentration

Weight in the 10 largest Holdings

INVG10.1%
VTC1.6%

Securities held

INVG103
VTC5,204

Asset class

INVG: Fixed Income
VTC: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. INVG holds 103 securities, VTC 5,204.

All INVG holdings⁠All VTC 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.

INVG vs VTC Cost

Overpaying INVG vs VTC

$4,521

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

INVG 0.25%
$5,159
VTC 0.03%
$638

Amount$10,000

Years30 years

Cost over time

INVG 0.25%
VTC 0.03%
Overpaying

Year by year

Year	INVG	VTC	Overpaying
10	$455	$55	$400
20	$1,769	$216	$1,553
30	$5,159	$638	$4,521

Expense ratio

0.25%INVG
0.03%VTC, cheaper

VTC0.03%INVG0.25%

0.03%0.53%

Middle half of Investment Grade Corporate funds
Median 0.25%

VTC cheapest of 49 funds

INVG 24th cheapest of 49 funds

INVG vs VTC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): INVG 5.35%, better; VTC 5.13%
Payout (12M): INVG $1.31; VTC $3.80
Last payment: INVG $0.08; VTC $0.32
Ex-dividend: INVG Oct 30, 2026; VTC Oct 1, 2026
Paid on: INVG Pays Nov 2, 2026; VTC Oct 5, 2026
Frequency: INVG Monthly; VTC Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

INVGMonthly · 17 paymentsAll INVG payments⁠

VTCMonthly · 45 paymentsAll VTC payments⁠

INVG vs VTC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: INVG 4.7%since Jul 2025VTC 6.3%
Return per unit of riskSharpe ratio, 3 years: INVG −0.39since Jul 2025VTC 0.31
Worst fallMax drawdown, 5 years: INVG −4.5%since Jun 2025VTC −21.7%
Market sensitivityBeta, 5 years: INVG 0.16VTC 1.12; Market = 1

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