IBDY vs. VCSH
IBDY (iShares iBonds Dec 2033 Term Corporate ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both Corporate Bonds funds - IBDY tracks the Bloomberg December 2033 Maturity Corporate Index while VCSH tracks the Bloomberg U.S. 1-5 Year Corporate Bond Index. Both are passively managed. Over the past year, IBDY returned 5.45% vs 4.30% for VCSH. Their correlation of 0.89 suggests significant overlap in exposure. IBDY charges 0.10%/yr vs 0.04%/yr for VCSH.
Performance
IBDY vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, IBDY achieves a -0.23% return, which is significantly lower than VCSH's 0.41% return.
IBDY
- 1D
- -0.49%
- 1M
- -0.73%
- YTD
- -0.23%
- 6M
- 0.14%
- 1Y
- 5.45%
- 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%
IBDY vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBDY iShares iBonds Dec 2033 Term Corporate ETF | -0.23% | 9.41% | 2.02% | 5.75% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.41% | 6.77% | 4.91% | 4.34% |
Correlation
The correlation between IBDY and VCSH is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.89 |
The correlation between IBDY and VCSH has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
IBDY vs. VCSH — Risk / Return Rank
IBDY
VCSH
IBDY vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2033 Term Corporate ETF (IBDY) 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.
| IBDY | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.44 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 3.08 | -1.15 |
| Martin ratioReturn relative to average drawdown | 6.14 | 12.69 | -6.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBDY | VCSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 2.29 | -0.98 |
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 | -0.11 |
Drawdowns
IBDY vs. VCSH - Drawdown Comparison
The maximum IBDY drawdown since its inception was -7.53%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for IBDY and VCSH.
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Drawdown Indicators
| IBDY | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.53% | -12.86% | +5.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.84% | -1.40% | -1.44% |
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 DrawdownCurrent decline from peak | -1.76% | -0.55% | -1.21% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -0.97% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.34% | +0.55% |
Volatility
IBDY vs. VCSH - Volatility Comparison
iShares iBonds Dec 2033 Term Corporate ETF (IBDY) has a higher volatility of 1.33% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.62%. This indicates that IBDY'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
| IBDY | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 0.62% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 1.41% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 1.90% | +2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 2.88% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 3.35% | +3.00% |
IBDY vs. VCSH - Expense Ratio Comparison
IBDY has a 0.10% expense ratio, which is higher than VCSH's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBDY vs. VCSH - Dividend Comparison
IBDY's dividend yield for the trailing twelve months is around 4.91%, more than VCSH's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBDY iShares iBonds Dec 2033 Term Corporate ETF | 4.91% | 4.87% | 5.02% | 2.20% | 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
With a correlation of 0.91, IBDY and VCSH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBDY has higher volatility (1.33%) compared to VCSH (0.62%). In terms of maximum drawdown, IBDY dropped -7.53% vs VCSH's -12.86%.
On 1-year performance, IBDY leads with 5.45% vs 4.30% for VCSH. On fees, VCSH is cheaper at 0.04% per year. On volatility, VCSH has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBDY has performed better with a 5.45% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCSH is cheaper with a 0.04% expense ratio, compared with 0.10% for IBDY.
IBDY has the higher dividend yield at 4.91%, compared with 4.46% for VCSH.
IBDY tracks Bloomberg December 2033 Maturity Corporate Index, while VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for IBDY and 0.04% for VCSH.
VCSH currently has the higher Sharpe Ratio (2.29 vs 1.31), 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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