HBDC vs. VCSH

Last updated Jun 6, 2026

HBDC (Hilton BDC Corporate Bond ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both Corporate Bonds funds. HBDC is actively managed, while VCSH is passively managed. At a 0.47 correlation, their price movements are largely independent. HBDC charges 0.39%/yr vs 0.04%/yr for VCSH.

Performance

HBDC vs. VCSH - Performance Comparison

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

Returns By Period

In the year-to-date period, HBDC achieves a -0.04% return, which is significantly lower than VCSH's 0.41% return.

HBDC

• 1D: -0.14%
• 1M: 0.27%
• YTD: -0.04%
• 6M: 0.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VCSH

• 1D: -0.29%
• 1M: -0.26%
• YTD: 0.41%
• 6M: 0.83%
• 1Y: 4.30%
• 3Y*: 5.47%
• 5Y*: 2.27%
• 10Y*: 2.67%

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

HBDC vs. VCSH - Yearly Performance Comparison

	2026 (YTD)	2025
HBDC Hilton BDC Corporate Bond ETF	-0.04%	2.66%
VCSH Vanguard Short-Term Corporate Bond ETF	0.41%	3.75%

Correlation

The correlation between HBDC and VCSH is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.47

Return for Risk

HBDC vs. VCSH — Risk / Return Rank

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

VCSH

VCSH Risk / Return Rank: 73
VCSH Sharpe Ratio Rank: 72
VCSH Sortino Ratio Rank: 81
VCSH Omega Ratio Rank: 77
VCSH Calmar Ratio Rank: 64
VCSH Martin Ratio Rank: 70

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.

HBDC vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hilton BDC Corporate Bond ETF (HBDC) 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.

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

Sharpe Ratios by Period

	HBDC	VCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.29	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.01	-0.12

Drawdowns

HBDC vs. VCSH - Drawdown Comparison

The maximum HBDC drawdown since its inception was -2.96%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for HBDC and VCSH.

Drawdown Indicators

	HBDC	VCSH	Difference
Max Drawdown Largest peak-to-trough decline	-2.96%	-12.86%	+9.90%
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	-0.67%	-0.55%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.68%	-0.97%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.34%	—

Volatility

Volatility by Period

	HBDC	VCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	1.90%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	2.88%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	3.35%	-0.37%

HBDC vs. VCSH - Expense Ratio Comparison

HBDC has a 0.39% expense ratio, which is higher than VCSH's 0.04% expense ratio.

Dividends

HBDC vs. VCSH - Dividend Comparison

HBDC's dividend yield for the trailing twelve months is around 4.53%, more than VCSH's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HBDC Hilton BDC Corporate Bond ETF	4.53%	2.42%	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	4.46%	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 HBDC and VCSH in my portfolio?

HBDC and VCSH have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBDC 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, HBDC or VCSH?

VCSH is cheaper with a 0.04% expense ratio, compared with 0.39% for HBDC.

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

HBDC has the higher dividend yield at 4.53%, compared with 4.46% for VCSH.

What is the main difference between HBDC and VCSH?

They also come from different issuers: Hilton and Vanguard. Their fees differ too: 0.39% for HBDC and 0.04% for VCSH.