BSBIX vs. VCSH

Last updated Apr 1, 2026

Compare and contrast key facts about Baird Short-Term Bond Fund Institutional Class (BSBIX) and Vanguard Short-Term Corporate Bond ETF (VCSH).

BSBIX is a passively managed fund by Baird that tracks the performance of the Bloomberg Barclays 1-3 Year U.S. Government/Credit Bond Index. It was launched on Aug 31, 2004. VCSH is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. 1-5 Year Corporate Index. It was launched on Nov 19, 2009. Both BSBIX and VCSH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BSBIX vs. VCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baird Short-Term Bond Fund Institutional Class (BSBIX) and Vanguard Short-Term Corporate Bond ETF (VCSH). The values are adjusted to include any dividend payments, if applicable.

BSBIX vs. VCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BSBIX Baird Short-Term Bond Fund Institutional Class	0.27%	5.67%	4.99%	5.65%	-3.64%	-0.42%	4.23%	4.68%	1.49%	1.53%
VCSH Vanguard Short-Term Corporate Bond ETF	0.13%	6.77%	4.91%	6.20%	-5.62%	-0.63%	5.13%	7.02%	0.92%	2.17%

Returns By Period

In the year-to-date period, BSBIX achieves a 0.27% return, which is significantly higher than VCSH's 0.13% return. Over the past 10 years, BSBIX has underperformed VCSH with an annualized return of 2.51%, while VCSH has yielded a comparatively higher 2.72% annualized return.

BSBIX

• 1D: 0.21%
• 1M: -0.59%
• YTD: 0.27%
• 6M: 1.39%
• 1Y: 4.26%
• 3Y*: 5.01%
• 5Y*: 2.46%
• 10Y*: 2.51%

VCSH

• 1D: 0.29%
• 1M: -0.83%
• YTD: 0.13%
• 6M: 1.37%
• 1Y: 4.93%
• 3Y*: 5.36%
• 5Y*: 2.37%
• 10Y*: 2.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSBIX vs. VCSH - Expense Ratio Comparison

BSBIX has a 0.30% expense ratio, which is higher than VCSH's 0.04% expense ratio.

BSBIX

Baird Short-Term Bond Fund Institutional Class

VCSH

Vanguard Short-Term Corporate Bond ETF

Return for Risk

BSBIX vs. VCSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSBIX

BSBIX Risk / Return Rank: 98
BSBIX Sharpe Ratio Rank: 98
BSBIX Sortino Ratio Rank: 98
BSBIX Omega Ratio Rank: 98
BSBIX Calmar Ratio Rank: 98
BSBIX Martin Ratio Rank: 98

VCSH

VCSH Risk / Return Rank: 95
VCSH Sharpe Ratio Rank: 94
VCSH Sortino Ratio Rank: 96
VCSH Omega Ratio Rank: 95
VCSH Calmar Ratio Rank: 94
VCSH Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSBIX vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baird Short-Term Bond Fund Institutional Class (BSBIX) 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.

	BSBIX	VCSH	Difference
Sharpe ratio Return per unit of total volatility	3.02	2.17	+0.85
Sortino ratio Return per unit of downside risk	4.76	3.19	+1.57
Omega ratio Gain probability vs. loss probability	1.81	1.45	+0.36
Calmar ratio Return relative to maximum drawdown	4.66	3.52	+1.14
Martin ratio Return relative to average drawdown	20.97	14.44	+6.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSBIX vs. VCSH - Sharpe Ratio Comparison

The current BSBIX Sharpe Ratio is 3.02, which is higher than the VCSH Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BSBIX and VCSH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BSBIX	VCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.02	2.17	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	0.83	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.51	0.81	+0.69
Sharpe Ratio (All Time) Calculated using the full available price history	1.64	1.01	+0.62

Correlation

The correlation between BSBIX and VCSH is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BSBIX vs. VCSH - Dividend Comparison

BSBIX's dividend yield for the trailing twelve months is around 4.30%, less than VCSH's 4.41% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSBIX Baird Short-Term Bond Fund Institutional Class	4.30%	4.35%	4.34%	3.41%	1.79%	1.42%	2.61%	2.49%	2.20%	1.73%	1.60%	1.62%
VCSH Vanguard Short-Term Corporate Bond ETF	4.41%	4.35%	3.96%	3.09%	2.01%	1.81%	2.27%	2.87%	2.65%	2.26%	2.10%	2.08%

Drawdowns

BSBIX vs. VCSH - Drawdown Comparison

The maximum BSBIX drawdown since its inception was -5.95%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for BSBIX and VCSH.

Drawdown Indicators

	BSBIX	VCSH	Difference
Max Drawdown Largest peak-to-trough decline	-5.95%	-12.86%	+6.91%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-1.40%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-5.95%	-9.48%	+3.53%
Max Drawdown (10Y) Largest decline over 10 years	-5.95%	-12.86%	+6.91%
Current Drawdown Current decline from peak	-0.59%	-0.83%	+0.24%
Average Drawdown Average peak-to-trough decline	-0.55%	-0.97%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.34%	-0.13%

Volatility

BSBIX vs. VCSH - Volatility Comparison

The current volatility for Baird Short-Term Bond Fund Institutional Class (BSBIX) is 0.56%, while Vanguard Short-Term Corporate Bond ETF (VCSH) has a volatility of 0.94%. This indicates that BSBIX experiences smaller price fluctuations and is considered to be less risky than VCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BSBIX	VCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	0.94%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	0.86%	1.29%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	1.42%	2.28%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.93%	2.86%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.67%	3.35%	-1.68%