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IGSB vs. VMRXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGSB vs. VMRXX

Last updated Jun 9, 2026

IGSB (iShares Short-Term Corporate Bond ETF) and VMRXX (Vanguard Cash Reserves Federal Money Market Fund Admiral Shares) are both funds - IGSB is a Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index, while VMRXX is a Money Market fund actively managed by Vanguard. IGSB is passively managed, while VMRXX is actively managed. Over the past 5 years, IGSB returned 2.36%/yr vs 2.76%/yr for VMRXX. At a 0.07 correlation, their price movements are largely independent. IGSB charges 0.06%/yr vs 0.10%/yr for VMRXX.

Performance

IGSB vs. VMRXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short-Term Corporate Bond ETF (IGSB) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGSB achieves a 0.52% return, which is significantly lower than VMRXX's 1.50% return.

IGSB

1D
0.04%
1M
-0.25%
YTD
0.52%
6M
1.00%
1Y
4.70%
3Y*
5.70%
5Y*
2.36%
10Y*
2.71%

VMRXX

1D
0.00%
1M
0.30%
YTD
1.50%
6M
1.83%
1Y
3.96%
3Y*
3.96%
5Y*
2.76%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGSB vs. VMRXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IGSB
iShares Short-Term Corporate Bond ETF		0.52%6.96%4.97%6.40%-5.63%-0.70%
VMRXX
Vanguard Cash Reserves Federal Money Market Fund Admiral Shares		1.50%4.25%3.45%4.65%0.00%0.01%

Correlation

The correlation between IGSB and VMRXX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.09

Correlation (3Y)
Calculated over the trailing 3-year period

0.05

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (All Time)
Calculated using the full available price history since May 26, 2021

0.07

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iShares Short-Term Corporate Bond ETF

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares

Often compared with IGSB:
IGSB vs. VCSHIGSB vs. LQDIGSB vs. SPSBIGSB vs. IGIBIGSB vs. SLQDIGSB vs. FLDRIGSB vs. AGG
Often compared with VMRXX:
VMRXX vs. VMFXXVMRXX vs. VUSXXVMRXX vs. SWVXXVMRXX vs. VGSHVMRXX vs. FCSSXVMRXX vs. VYMVMRXX vs. USFR

Return for Risk

IGSB vs. VMRXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGSB
IGSB Risk / Return Rank: 8282
Overall Rank
IGSB Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IGSB Sortino Ratio Rank: 9090
Sortino Ratio Rank
IGSB Omega Ratio Rank: 8888
Omega Ratio Rank
IGSB Calmar Ratio Rank: 7171
Calmar Ratio Rank
IGSB Martin Ratio Rank: 7676
Martin Ratio Rank
VMRXX
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.

IGSB vs. VMRXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term Corporate Bond ETF (IGSB) and Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX). 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.

IGSBVMRXXDifference
Sharpe ratioReturn per unit of total volatility
2.47
3.67

-1.20

Sortino ratioReturn per unit of downside risk
3.83

—

—

Omega ratioGain probability vs. loss probability

1.50

—

—

Calmar ratioReturn relative to maximum drawdown

3.24

—

—

Martin ratioReturn relative to average drawdown

13.12

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGSB vs. VMRXX - Sharpe Ratio Comparison

The current IGSB Sharpe Ratio is 2.47, which is lower than the VMRXX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of IGSB and VMRXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IGSBVMRXXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.47

3.67

-1.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.81

2.77

-1.96

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.78

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

2.76

-2.06

Drawdowns

IGSB vs. VMRXX - Drawdown Comparison

The maximum IGSB drawdown since its inception was -13.38%, which is greater than VMRXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for IGSB and VMRXX.

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Drawdown Indicators

IGSBVMRXXDifference

Max Drawdown

Largest peak-to-trough decline

-13.38%

0.00%

-13.38%

Max Drawdown (1Y)

Largest decline over 1 year

-1.46%

0.00%

-1.46%

Max Drawdown (3Y)

Largest decline over 3 years

-1.46%

0.00%

-1.46%

Max Drawdown (5Y)

Largest decline over 5 years

-9.46%

0.00%

-9.46%

Max Drawdown (10Y)

Largest decline over 10 years

-13.38%

—

—

Current Drawdown

Current decline from peak

-0.51%

0.00%

-0.51%

Average Drawdown

Average peak-to-trough decline

-0.85%

0.00%

-0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

0.00%

+0.36%

Volatility

IGSB vs. VMRXX - Volatility Comparison

iShares Short-Term Corporate Bond ETF (IGSB) has a higher volatility of 0.61% compared to Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) at 0.30%. This indicates that IGSB's price experiences larger fluctuations and is considered to be riskier than VMRXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IGSBVMRXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.61%

0.30%

+0.31%

Volatility (6M)

Calculated over the trailing 6-month period

1.44%

0.79%

+0.65%

Volatility (1Y)

Calculated over the trailing 1-year period

1.91%

1.12%

+0.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.93%

1.02%

+1.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.47%

1.02%

+2.45%

IGSB vs. VMRXX - Expense Ratio Comparison

IGSB has a 0.06% expense ratio, which is lower than VMRXX's 0.10% 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

IGSB vs. VMRXX - Dividend Comparison

IGSB's dividend yield for the trailing twelve months is around 4.59%, more than VMRXX's 3.88% yield.

PositionTTM20252024202320222021202020192018201720162015
IGSB
iShares Short-Term Corporate Bond ETF		4.59%4.44%4.02%3.26%2.07%1.82%2.36%3.06%2.46%1.65%1.45%1.18%
VMRXX
Vanguard Cash Reserves Federal Money Market Fund Admiral Shares		3.88%4.15%3.38%4.54%0.00%0.01%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IGSB and VMRXX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IGSB has higher volatility (0.61%) compared to VMRXX (0.30%). In terms of maximum drawdown, IGSB dropped -13.38% vs VMRXX's 0.00%.

VMRXX currently has the higher Sharpe Ratio (3.67 vs 2.47), 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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