ICSH vs. VUBFX

Last updated Jun 4, 2026

ICSH (iShares Ultra Short Duration Bond Active ETF) and VUBFX (Vanguard Ultra-Short-Term Bond Fund Investor Shares) are both funds - ICSH is a Ultrashort Bond fund tracking the ICE BofA US 6-Month Treasury Bill Index (USD), while VUBFX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, ICSH returned 2.76%/yr vs 2.61%/yr for VUBFX. At a 0.27 correlation, their price movements are largely independent. ICSH charges 0.08%/yr vs 0.20%/yr for VUBFX.

Performance

ICSH vs. VUBFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ultra Short Duration Bond Active ETF (ICSH) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICSH achieves a 1.45% return, which is significantly higher than VUBFX's 1.37% return. Over the past 10 years, ICSH has outperformed VUBFX with an annualized return of 2.76%, while VUBFX has yielded a comparatively lower 2.61% annualized return.

ICSH

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.45%
• 6M: 1.79%
• 1Y: 4.36%
• 3Y*: 5.20%
• 5Y*: 3.67%
• 10Y*: 2.76%

VUBFX

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.37%
• 6M: 1.75%
• 1Y: 4.40%
• 3Y*: 5.33%
• 5Y*: 3.40%
• 10Y*: 2.61%

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

ICSH vs. VUBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICSH iShares Ultra Short Duration Bond Active ETF	1.45%	4.96%	5.52%	5.58%	0.97%	0.16%	1.61%	3.17%	2.25%	1.63%
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	1.37%	5.04%	5.99%	5.43%	-0.53%	0.03%	1.95%	3.34%	1.94%	1.23%

Correlation

The correlation between ICSH and VUBFX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.27

The correlation between ICSH and VUBFX shifts across timeframes, from 0.27 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.

ICSH vs. VUBFX - Sectors Allocation Comparison

Sectors	ICSH	VUBFX
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

ICSH vs. VUBFX — Risk / Return Rank

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

ICSH

ICSH Risk / Return Rank: 99
ICSH Sharpe Ratio Rank: 99
ICSH Sortino Ratio Rank: 100
ICSH Omega Ratio Rank: 100
ICSH Calmar Ratio Rank: 99
ICSH Martin Ratio Rank: 99

VUBFX

VUBFX Risk / Return Rank: 100
VUBFX Sharpe Ratio Rank: 100
VUBFX Sortino Ratio Rank: 100
VUBFX Omega Ratio Rank: 100
VUBFX Calmar Ratio Rank: 99
VUBFX Martin Ratio Rank: 100

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.

ICSH vs. VUBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX). 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.

	ICSH	VUBFX	Difference
Sharpe ratio: Return per unit of total volatility	11.22	5.71	+5.51
Sortino ratio: Return per unit of downside risk	28.46	12.83	+15.63
Omega ratio: Gain probability vs. loss probability	6.79	4.52	+2.27
Calmar ratio: Return relative to maximum drawdown	44.30	14.79	+29.51
Martin ratio: Return relative to average drawdown	297.17	83.04	+214.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICSH vs. VUBFX - Sharpe Ratio Comparison

The current ICSH Sharpe Ratio is 11.22, which is higher than the VUBFX Sharpe Ratio of 5.71. The chart below compares the historical Sharpe Ratios of ICSH and VUBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ICSH	VUBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.22	5.71	+5.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	7.64	3.47	+4.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.62	3.14	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	3.11	-1.17

Drawdowns

ICSH vs. VUBFX - Drawdown Comparison

The maximum ICSH drawdown since its inception was -3.94%, which is greater than VUBFX's maximum drawdown of -1.86%. Use the drawdown chart below to compare losses from any high point for ICSH and VUBFX.

Drawdown Indicators

	ICSH	VUBFX	Difference
Max Drawdown Largest peak-to-trough decline	-3.94%	-1.86%	-2.08%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.30%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	-0.30%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-0.73%	-1.86%	+1.13%
Max Drawdown (10Y) Largest decline over 10 years	-3.94%	-1.86%	-2.08%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.17%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.05%	-0.04%

Volatility

ICSH vs. VUBFX - Volatility Comparison

The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.15%, while Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) has a volatility of 0.17%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than VUBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICSH	VUBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	0.17%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	0.30%	0.54%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	0.39%	0.77%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.48%	0.99%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.06%	0.83%	+0.23%

ICSH vs. VUBFX - Expense Ratio Comparison

ICSH has a 0.08% expense ratio, which is lower than VUBFX's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ICSH vs. VUBFX - Dividend Comparison

ICSH's dividend yield for the trailing twelve months is around 4.34%, less than VUBFX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICSH iShares Ultra Short Duration Bond Active ETF	4.34%	4.55%	5.24%	4.78%	1.66%	0.42%	1.21%	2.61%	2.20%	1.36%	0.88%	0.54%
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	4.42%	4.62%	5.42%	4.06%	1.28%	0.43%	1.52%	2.58%	2.13%	1.43%	0.98%	0.00%

Frequently Asked Questions

Can I hold both ICSH and VUBFX in my portfolio?

ICSH and VUBFX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICSH or VUBFX?

VUBFX has higher volatility (0.17%) compared to ICSH (0.15%). In terms of maximum drawdown, ICSH dropped -3.94% vs VUBFX's -1.86%.

Which has better risk-adjusted returns?

ICSH currently has the higher Sharpe Ratio (11.22 vs 5.71), 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.