MYCL vs VBCC

MYCLFState Street My2032 Corporate Bond ETF

VBCCAVanguard Target Maturity 2029 Corporate Bond ETF

In short

MYCL A corporate bond fund with an expiration date: it holds bonds maturing in 2032, then winds up around December 15, 2032 and pays out what is left. The twist is that State Street runs this rung actively rather than by index rulebook.

VBCC Vanguard's version of a single rung on a bond ladder: investment-grade corporates that all mature in 2029, wrapped in an ETF at 0.08% a year, under the typical fee in the target-maturity aisle.

Stated mandate

MYCL The fund uses an actively managed target-maturity strategy focused primarily on corporate bonds maturing in 2032, with liquidation planned around December 15, 2032 after distributing remaining principal.

VBCC The fund seeks to follow a market-weighted index of U.S.-dollar-denominated, investment-grade corporate bonds scheduled to mature in 2029.

Why people hold it

• MYCL Behaves like a bond you can trade: corporate bonds maturing in 2032, liquidation planned for around December 15, 2032, remaining principal distributed to holders.ssga.com
• Actively managed target-maturity strategy with the ICE 2032 Maturity US Corporate Index as its reference point, so a manager makes the credit calls inside a fixed maturity year.
• Pays monthly, and the credit risk sits across roughly a hundred corporate bonds instead of one issuer's balance sheet.

• VBCC At 0.08% a year it undercuts the target-maturity median and the established 2029 corporate rungs from iShares (IBDU) and Invesco (BSCT), both at 0.10%.
• Every bond in the index is scheduled to mature in 2029, so the portfolio has an end date instead of rolling on forever like a standard bond fund.
• Investment-grade US dollar corporates, market-weighted. No high-yield sleeve, no manager leaning on favorite issuers.
• Stacks up among the stronger builds in a crowded target-maturity field, on the back of low cost and a straightforward investment-grade portfolio.

Worth knowing

• MYCL 0.15% a year is above the big index rungs (IBDU and BSCT at 0.10%, VBCB at 0.08%). The active hand is what the extra buys.
• Small and lightly traded next to the entrenched ladder franchises, which can mean wider spreads at the point of trade.
• Launched in 2024, so the track record is short and the strategy has not yet run through a full credit cycle.

• VBCC Launched in 2026, so live history is short and it trades less actively than the long-running iShares and Invesco ladders. Limit orders matter more here.
• Corporate credit, not Treasuries. An investment-grade issuer can still be downgraded or miss a payment, and a 2029 maturity date does not erase that.
• Income is paid quarterly, so cash arrives four times a year rather than monthly.

Full MYCL profile⁠

Full VBCC profile⁠