^FVX vs. VCSH
^FVX (Treasury Yield 5 Years) is an index, while VCSH (Vanguard Short-Term Corporate Bond ETF) is Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. Over the past 10 years, ^FVX returned 15.29%/yr vs 2.64%/yr for VCSH. Their -0.63 correlation means they have often moved in opposite directions in the past.
Performance
^FVX vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, ^FVX achieves a 19.83% return, which is significantly higher than VCSH's 0.79% return. Over the past 10 years, ^FVX has outperformed VCSH with an annualized return of 15.29%, while VCSH has yielded a comparatively lower 2.64% annualized return.
^FVX
- 1D
- 1.94%
- 1M
- 5.44%
- 6M
- 17.46%
- YTD
- 19.83%
- 1Y
- 18.27%
- 3Y*
- 1.63%
- 5Y*
- 44.70%
- 10Y*
- 15.29%
- ALL TIME*
- -1.07%
VCSH
- 1D
- -0.06%
- 1M
- -0.22%
- 6M
- 0.39%
- YTD
- 0.79%
- 1Y
- 3.07%
- 3Y*
- 5.46%
- 5Y*
- 2.30%
- 10Y*
- 2.64%
- ALL TIME*
- 2.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $304.83M | $291.45M | $343.43M |
^FVX vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^FVX Treasury Yield 5 Years | 19.83% | -15.02% | 14.06% | -4.00% | 216.71% | 249.86% | -78.68% | -32.55% | 13.78% | 14.06% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.79% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
Correlation
The correlation between ^FVX and VCSH is -0.83, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.83 |
Correlation (3Y) Balances recent behavior with more history. | -0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.63 |
The correlation between ^FVX and VCSH shifts across timeframes, from -0.87 (3 years) to -0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^FVX vs. VCSH — Risk / Return Rank
^FVX
VCSH
^FVX vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 5 Years (^FVX) and Vanguard Short-Term Corporate Bond ETF (VCSH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^FVX | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.36 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.61 | -1.19 |
| Martin ratioReturn relative to average drawdown | 3.30 | 10.26 | -6.96 |
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Drawdowns
^FVX vs. VCSH - Drawdown Comparison
The maximum ^FVX drawdown since its inception was -98.80%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for ^FVX and VCSH.
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Drawdown Indicators
| ^FVX | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.80% | -12.86% | -85.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.97% | -1.40% | -7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -31.36% | -1.40% | -29.96% |
Max Drawdown (5Y)Largest decline over 5 years | -31.36% | -9.45% | -21.91% |
Max Drawdown (10Y)Largest decline over 10 years | -93.69% | -12.86% | -80.83% |
Current DrawdownCurrent decline from peak | -72.59% | -0.29% | -72.30% |
Average DrawdownAverage peak-to-trough decline | -58.57% | -0.96% | -57.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 0.36% | +5.18% |
Volatility
^FVX vs. VCSH - Volatility Comparison
Treasury Yield 5 Years (^FVX) has a higher volatility of 4.47% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.55%. This indicates that ^FVX's price experiences larger fluctuations and is considered to be riskier than VCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^FVX | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 0.55% | +3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 13.74% | 1.56% | +12.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.10% | 1.94% | +16.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.52% | 2.90% | +33.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.13% | 3.35% | +54.78% |
Frequently Asked Questions
^FVX and VCSH have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^FVX has higher volatility (4.47%) compared to VCSH (0.55%). In terms of maximum drawdown, ^FVX dropped -98.80% vs VCSH's -12.86%.
VCSH currently has the higher Sharpe Ratio (1.89 vs 0.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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