EVMO vs. VCSH

Last updated Jun 24, 2026

EVMO (Eaton Vance Mortgage Opportunities ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - EVMO is a Mortgage Backed Securities fund actively managed by Eaton Vance, while VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. EVMO is actively managed, while VCSH is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. EVMO charges 0.45%/yr vs 0.04%/yr for VCSH.

Performance

EVMO vs. VCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Mortgage Opportunities ETF (EVMO) and Vanguard Short-Term Corporate Bond ETF (VCSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EVMO having a 0.71% return and VCSH slightly higher at 0.72%.

EVMO

• 1D: 0.16%
• 1M: 0.36%
• YTD: 0.71%
• 6M: 1.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VCSH

• 1D: 0.10%
• 1M: 0.35%
• YTD: 0.72%
• 6M: 0.95%
• 1Y: 4.09%
• 3Y*: 5.59%
• 5Y*: 2.37%
• 10Y*: 2.65%

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

EVMO vs. VCSH - Yearly Performance Comparison

	2026 (YTD)	2025
EVMO Eaton Vance Mortgage Opportunities ETF	0.71%	3.37%
VCSH Vanguard Short-Term Corporate Bond ETF	0.72%	2.26%

Correlation

The correlation between EVMO and VCSH is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 4, 2025	0.58

Return for Risk

EVMO vs. VCSH — Risk / Return Rank

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

EVMO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VCSH

VCSH Risk / Return Rank: 70
VCSH Sharpe Ratio Rank: 69
VCSH Sortino Ratio Rank: 78
VCSH Omega Ratio Rank: 74
VCSH Calmar Ratio Rank: 62
VCSH Martin Ratio Rank: 67

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.

EVMO vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) 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.

	EVMO	VCSH	Difference
Sharpe ratio: Return per unit of total volatility	—	2.14	—
Sortino ratio: Return per unit of downside risk	—	3.30	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	2.93	—
Martin ratio: Return relative to average drawdown	—	11.86	—

Drawdowns

EVMO vs. VCSH - Drawdown Comparison

The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for EVMO and VCSH.

Drawdown Indicators

	EVMO	VCSH	Difference
Max Drawdown Largest peak-to-trough decline	-1.89%	-12.86%	+10.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.40%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-12.86%	—
Current Drawdown Current decline from peak	-0.93%	-0.24%	-0.69%
Average Drawdown Average peak-to-trough decline	-0.42%	-0.96%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	EVMO	VCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.86%	1.92%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.86%	2.89%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.86%	3.35%	-0.49%

EVMO vs. VCSH - Expense Ratio Comparison

EVMO has a 0.45% expense ratio, which is higher than VCSH's 0.04% expense ratio.

Dividends

EVMO vs. VCSH - Dividend Comparison

EVMO's dividend yield for the trailing twelve months is around 4.07%, less than VCSH's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VCSH Vanguard Short-Term Corporate Bond ETF	4.45%	4.35%	3.96%	3.09%	2.01%	1.81%	2.27%	2.87%	2.65%	2.26%	2.10%	2.08%

Frequently Asked Questions

Can I hold both EVMO and VCSH in my portfolio?

EVMO and VCSH have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVMO or VCSH?

On fees, VCSH is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVMO or VCSH?

VCSH is cheaper with a 0.04% expense ratio, compared with 0.45% for EVMO.

Which ETF pays a higher dividend yield, EVMO or VCSH?

VCSH has the higher dividend yield at 4.45%, compared with 4.07% for EVMO.

What is the main difference between EVMO and VCSH?

EVMO is categorized as Mortgage Backed Securities, while VCSH is Corporate Bonds. They also come from different issuers: Eaton Vance and Vanguard. Their fees differ too: 0.45% for EVMO and 0.04% for VCSH.