IMCV vs. VCSH
IMCV (iShares Morningstar Mid-Cap ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - IMCV is a Mid Cap Value Equities fund tracking the Morningstar US Mid Cap Broad Value Index, while VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, IMCV returned 10.78%/yr vs 2.70%/yr for VCSH. At a 0.06 correlation, their price movements are largely independent. IMCV charges 0.06%/yr vs 0.04%/yr for VCSH.
Performance
IMCV vs. VCSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IMCV achieves a 12.04% return, which is significantly higher than VCSH's 0.80% return. Over the past 10 years, IMCV has outperformed VCSH with an annualized return of 10.78%, while VCSH has yielded a comparatively lower 2.70% annualized return.
IMCV
- 1D
- 0.91%
- 1M
- 4.87%
- YTD
- 12.04%
- 6M
- 11.44%
- 1Y
- 26.22%
- 3Y*
- 16.21%
- 5Y*
- 9.22%
- 10Y*
- 10.78%
VCSH
- 1D
- -0.03%
- 1M
- 0.53%
- YTD
- 0.80%
- 6M
- 1.22%
- 1Y
- 4.60%
- 3Y*
- 5.69%
- 5Y*
- 2.33%
- 10Y*
- 2.70%
IMCV vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMCV iShares Morningstar Mid-Cap ETF | 12.04% | 13.52% | 12.28% | 11.89% | -6.98% | 33.56% | -4.11% | 24.72% | -10.93% | 12.60% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.80% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
Correlation
The correlation between IMCV and VCSH is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.06 |
Over the past year, IMCV and VCSH have become more correlated (0.36) than their long-term average of 0.06, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IMCV vs. VCSH — Risk / Return Rank
IMCV
VCSH
IMCV vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCV) 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.
| IMCV | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.47 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.18 | +0.42 |
| Martin ratioReturn relative to average drawdown | 13.41 | 12.95 | +0.47 |
Loading charts...
Drawdowns
IMCV vs. VCSH - Drawdown Comparison
The maximum IMCV drawdown since its inception was -64.74%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for IMCV and VCSH.
Loading charts...
Drawdown Indicators
| IMCV | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -12.86% | -51.88% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -1.40% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.63% | -1.40% | -17.23% |
Max Drawdown (5Y)Largest decline over 5 years | -19.87% | -9.48% | -10.39% |
Max Drawdown (10Y)Largest decline over 10 years | -46.33% | -12.86% | -33.47% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -0.97% | -7.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 0.34% | +1.51% |
Volatility
IMCV vs. VCSH - Volatility Comparison
iShares Morningstar Mid-Cap ETF (IMCV) has a higher volatility of 2.87% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.66%. This indicates that IMCV'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.
Loading charts...
Volatility by Period
| IMCV | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 0.66% | +2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.05% | 1.42% | +6.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 1.88% | +9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.65% | 2.88% | +13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.66% | 3.35% | +16.31% |
IMCV vs. VCSH - Expense Ratio Comparison
IMCV has a 0.06% 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
IMCV vs. VCSH - Dividend Comparison
IMCV's dividend yield for the trailing twelve months is around 1.90%, less than VCSH's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCV iShares Morningstar Mid-Cap ETF | 1.90% | 2.23% | 2.36% | 2.30% | 2.36% | 1.86% | 2.61% | 2.45% | 2.61% | 1.87% | 2.09% | 2.29% |
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
IMCV and VCSH have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMCV has higher volatility (2.87%) compared to VCSH (0.66%). In terms of maximum drawdown, IMCV dropped -64.74% vs VCSH's -12.86%.
On 10-year performance, IMCV leads with 10.78% vs 2.70% for VCSH. On fees, VCSH is cheaper at 0.04% per year. On volatility, VCSH has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IMCV has performed better with a 10.78% return vs 2.70%. 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 0.06% for IMCV.
VCSH has the higher dividend yield at 4.45%, compared with 1.90% for IMCV.
IMCV is categorized as Mid Cap Value Equities, while VCSH is Corporate Bonds. IMCV tracks Morningstar US Mid Cap Broad Value 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: 0.06% for IMCV and 0.04% for VCSH.
VCSH currently has the higher Sharpe Ratio (2.37 vs 2.11), 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.
Find the right allocation for IMCV and VCSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer