INOD vs. VCSH

Last updated Aug 4, 2026

INOD (Innodata Inc.) is a stock, while VCSH (Vanguard Short-Term Corporate Bond ETF) is Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. Over the past 10 years, INOD returned 38.20%/yr vs 2.65%/yr for VCSH. Their 0.03 correlation means their historical movements had little consistent relationship.

Performance

INOD vs. VCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innodata Inc. (INOD) 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, INOD achieves a 24.16% return, which is significantly higher than VCSH's 0.92% return. Over the past 10 years, INOD has outperformed VCSH with an annualized return of 38.20%, while VCSH has yielded a comparatively lower 2.65% annualized return.

INOD

• 1D: 0.68%
• 1M: -8.16%
• 6M: 14.64%
• YTD: 24.16%
• 1Y: 40.72%
• 3Y*: 75.07%
• 5Y*: 55.27%
• 10Y*: 38.20%
• ALL TIME*: 11.62%

VCSH

• 1D: 0.13%
• 1M: -0.09%
• 6M: 0.60%
• YTD: 0.92%
• 1Y: 3.20%
• 3Y*: 5.42%
• 5Y*: 2.32%
• 10Y*: 2.65%
• ALL TIME*: 2.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INOD Innodata Inc.	$60.35M	$61.63M	$172.10M
VCSH Vanguard Short-Term Corporate Bond ETF	$313.19M	$294.57M	$337.26M

INOD vs. VCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INOD Innodata Inc.	24.16%	28.92%	385.50%	174.54%	-49.92%	11.70%	364.91%	-24.00%	10.29%	-44.49%
VCSH Vanguard Short-Term Corporate Bond ETF	0.92%	6.77%	4.91%	6.20%	-5.62%	-0.63%	5.13%	7.02%	0.92%	2.17%

Correlation

The correlation between INOD and VCSH is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.17
Correlation (3Y) Balances recent behavior with more history.	0.09
Correlation (5Y) Shows whether the relationship held over a longer period.	0.07
Correlation (10Y) Provides a long-term view across more market conditions.	0.06
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009	0.03

The correlation between INOD and VCSH shifts across timeframes, from 0.03 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

INOD vs. VCSH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INOD

INOD Risk / Return Rank: 63
INOD Sharpe Ratio Rank: 57
INOD Sortino Ratio Rank: 73
INOD Omega Ratio Rank: 69
INOD Calmar Ratio Rank: 60
INOD Martin Ratio Rank: 57

VCSH

VCSH Risk / Return Rank: 72
VCSH Sharpe Ratio Rank: 74
VCSH Sortino Ratio Rank: 76
VCSH Omega Ratio Rank: 74
VCSH Calmar Ratio Rank: 64
VCSH Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INOD vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innodata Inc. (INOD) 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.

	INOD	VCSH	Difference
Sharpe ratio: Return per unit of total volatility	0.34	1.72	-1.38
Sortino ratio: Return per unit of downside risk	1.69	2.50	-0.82
Omega ratio: Gain probability vs. loss probability	1.19	1.32	-0.13
Calmar ratio: Return relative to maximum drawdown	0.65	2.29	-1.64
Martin ratio: Return relative to average drawdown	1.09	9.01	-7.92

INOD vs. VCSH - Sharpe Ratio Comparison

The current INOD Sharpe Ratio is 0.34, which is lower than the VCSH Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of INOD and VCSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INOD vs. VCSH - Drawdown Comparison

The maximum INOD drawdown since its inception was -95.47%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for INOD and VCSH.

Drawdown Indicators

	INOD	VCSH	Difference
Max Drawdown Largest peak-to-trough decline	-95.47%	-12.86%	-82.61%
Max Drawdown (1Y) Largest decline over 1 year	-63.03%	-1.40%	-61.63%
Max Drawdown (3Y) Largest decline over 3 years	-63.03%	-1.40%	-61.63%
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	-9.41%	-65.03%
Max Drawdown (10Y) Largest decline over 10 years	-74.44%	-12.86%	-61.58%
Current Drawdown Current decline from peak	-47.93%	-0.17%	-47.76%
Average Drawdown Average peak-to-trough decline	-59.99%	-0.96%	-59.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.34%	0.36%	+36.98%

Volatility

INOD vs. VCSH - Volatility Comparison

Innodata Inc. (INOD) has a higher volatility of 19.03% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.55%. This indicates that INOD'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.

Volatility by Period

	INOD	VCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.03%	0.55%	+18.48%
Volatility (6M) Calculated over the trailing 6-month period	87.58%	1.57%	+86.01%
Volatility (1Y) Calculated over the trailing 1-year period	120.21%	1.87%	+118.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.26%	2.90%	+104.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.74%	3.35%	+86.39%

Dividends

INOD vs. VCSH - Dividend Comparison

INOD has not paid dividends to shareholders, while VCSH's dividend yield for the trailing twelve months is around 4.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INOD Innodata Inc.	0.00%	0.00%	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	4.47%	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 INOD and VCSH in my portfolio?

INOD and VCSH have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INOD or VCSH?

INOD has higher volatility (19.03%) compared to VCSH (0.55%). In terms of maximum drawdown, INOD dropped -95.47% vs VCSH's -12.86%.

Which has better risk-adjusted returns?

VCSH currently has the higher Sharpe Ratio (1.72 vs 0.34), 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.