PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
PFIG vs. VCSH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PFIG vs. VCSH

Last updated Jun 4, 2026

PFIG (Invesco Fundamental Investment Grade Corporate Bond ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both Corporate Bonds funds - PFIG tracks the RAFI Bonds US Investment Grade 1-10 Index while VCSH tracks the Barclays Capital U.S. 1-5 Year Corporate Index. Both are passively managed. Over the past 10 years, PFIG returned 2.44%/yr vs 2.70%/yr for VCSH. A 0.64 correlation means they provide meaningful diversification when combined. PFIG charges 0.22%/yr vs 0.04%/yr for VCSH.

Performance

PFIG vs. VCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) and Vanguard Short-Term Corporate Bond ETF (VCSH). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PFIG achieves a 0.19% return, which is significantly lower than VCSH's 0.64% return. Over the past 10 years, PFIG has underperformed VCSH with an annualized return of 2.44%, while VCSH has yielded a comparatively higher 2.70% annualized return.

PFIG

1D
-0.19%
1M
0.10%
YTD
0.19%
6M
0.30%
1Y
4.83%
3Y*
5.21%
5Y*
1.35%
10Y*
2.44%

VCSH

1D
-0.08%
1M
0.20%
YTD
0.64%
6M
0.95%
1Y
4.59%
3Y*
5.52%
5Y*
2.32%
10Y*
2.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PFIG vs. VCSH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PFIG
Invesco Fundamental Investment Grade Corporate Bond ETF		0.19%7.87%3.13%6.93%-9.96%-1.43%7.72%9.69%-0.82%4.00%
VCSH
Vanguard Short-Term Corporate Bond ETF		0.64%6.77%4.91%6.20%-5.62%-0.63%5.13%7.02%0.92%2.17%

Correlation

The correlation between PFIG and VCSH is 0.87, 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

0.87

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

0.85

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

0.88

Correlation (10Y)
Calculated over the trailing 10-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2011

0.64

Over the past year, PFIG and VCSH have become more correlated (0.87) than their long-term average of 0.64, 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.

Invesco Fundamental Investment Grade Corporate Bond ETF

Vanguard Short-Term Corporate Bond ETF

Often compared with PFIG:
PFIG vs. SGOVPFIG vs. PGHYPFIG vs. GABFPFIG vs. XLFPFIG vs. GDEPFIG vs. DBEFPFIG vs. BSJP
Often compared with VCSH:
VCSH vs. VGSHVCSH vs. IGSBVCSH vs. BSVVCSH vs. BNDVCSH vs. VTIPVCSH vs. JPSTVCSH vs. VFSTX

Return for Risk

PFIG vs. VCSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PFIG
PFIG Risk / Return Rank: 4848
Overall Rank
PFIG Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
PFIG Sortino Ratio Rank: 4949
Sortino Ratio Rank
PFIG Omega Ratio Rank: 4444
Omega Ratio Rank
PFIG Calmar Ratio Rank: 5050
Calmar Ratio Rank
PFIG Martin Ratio Rank: 4949
Martin Ratio Rank
VCSH
VCSH Risk / Return Rank: 7474
Overall Rank
VCSH Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VCSH Sortino Ratio Rank: 8484
Sortino Ratio Rank
VCSH Omega Ratio Rank: 7979
Omega Ratio Rank
VCSH Calmar Ratio Rank: 6565
Calmar Ratio Rank
VCSH Martin Ratio Rank: 7171
Martin Ratio Rank
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.

PFIG vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) 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.

PFIGVCSHDifference
Sharpe ratioReturn per unit of total volatility
1.58
2.45

-0.87

Sortino ratioReturn per unit of downside risk
2.38
3.85

-1.47

Omega ratioGain probability vs. loss probability

1.28

1.48

-0.20

Calmar ratioReturn relative to maximum drawdown

2.49

3.29

-0.80

Martin ratioReturn relative to average drawdown

8.20

13.55

-5.35

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

PFIG vs. VCSH - Sharpe Ratio Comparison

The current PFIG Sharpe Ratio is 1.58, which is lower than the VCSH Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of PFIG 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.

Loading charts...

Sharpe Ratios by Period

PFIGVCSHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.58

2.45

-0.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

0.81

-0.53

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.81

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

1.02

-0.49

Drawdowns

PFIG vs. VCSH - Drawdown Comparison

The maximum PFIG drawdown since its inception was -15.58%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for PFIG and VCSH.

Loading charts...

Drawdown Indicators

PFIGVCSHDifference

Max Drawdown

Largest peak-to-trough decline

-15.58%

-12.86%

-2.72%

Max Drawdown (1Y)

Largest decline over 1 year

-1.94%

-1.40%

-0.54%

Max Drawdown (3Y)

Largest decline over 3 years

-3.52%

-1.40%

-2.12%

Max Drawdown (5Y)

Largest decline over 5 years

-15.58%

-9.48%

-6.10%

Max Drawdown (10Y)

Largest decline over 10 years

-15.58%

-12.86%

-2.72%

Current Drawdown

Current decline from peak

-0.98%

-0.32%

-0.66%

Average Drawdown

Average peak-to-trough decline

-2.46%

-0.97%

-1.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.59%

0.34%

+0.25%

Volatility

PFIG vs. VCSH - Volatility Comparison

Invesco Fundamental Investment Grade Corporate Bond ETF (PFIG) has a higher volatility of 0.92% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.57%. This indicates that PFIG'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

PFIGVCSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.92%

0.57%

+0.35%

Volatility (6M)

Calculated over the trailing 6-month period

2.19%

1.38%

+0.81%

Volatility (1Y)

Calculated over the trailing 1-year period

3.07%

1.88%

+1.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.92%

2.88%

+2.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.24%

3.35%

+1.89%

PFIG vs. VCSH - Expense Ratio Comparison

PFIG has a 0.22% 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

PFIG vs. VCSH - Dividend Comparison

PFIG's dividend yield for the trailing twelve months is around 4.40%, less than VCSH's 4.45% yield.

PositionTTM20252024202320222021202020192018201720162015
PFIG
Invesco Fundamental Investment Grade Corporate Bond ETF		4.40%4.15%4.12%3.54%2.58%3.34%2.81%2.92%2.88%2.54%2.58%2.57%
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

PFIG and VCSH have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PFIG has higher volatility (0.92%) compared to VCSH (0.57%). In terms of maximum drawdown, PFIG dropped -15.58% vs VCSH's -12.86%.

On 10-year performance, VCSH leads with 2.70% vs 2.44% for PFIG. On fees, VCSH is cheaper at 0.04% per year. On volatility, VCSH has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VCSH has performed better with a 2.70% return vs 2.44%. 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 0.22% for PFIG.

VCSH has the higher dividend yield at 4.45%, compared with 4.40% for PFIG.

PFIG tracks RAFI Bonds US Investment Grade 1-10 Index, while VCSH tracks Barclays Capital U.S. 1-5 Year Corporate Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.22% for PFIG and 0.04% for VCSH.

VCSH currently has the higher Sharpe Ratio (2.45 vs 1.58), 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.

Portfolio Optimizer

Find the right allocation for PFIG 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