PJT vs. VCSH
PJT (PJT Partners 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, PJT returned 23.00%/yr vs 2.64%/yr for VCSH. Their 0.04 correlation means their historical movements had little consistent relationship.
Performance
PJT vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, PJT achieves a 1.00% return, which is significantly higher than VCSH's 0.79% return. Over the past 10 years, PJT has outperformed VCSH with an annualized return of 23.00%, while VCSH has yielded a comparatively lower 2.64% annualized return.
PJT
- 1D
- 0.45%
- 1M
- 3.26%
- 6M
- -2.41%
- YTD
- 1.00%
- 1Y
- -5.40%
- 3Y*
- 28.82%
- 5Y*
- 18.58%
- 10Y*
- 23.00%
- ALL TIME*
- 21.10%
VCSH
- 1D
- -0.06%
- 1M
- -0.22%
- 6M
- 0.39%
- YTD
- 0.79%
- 1Y
- 3.07%
- 3Y*
- 5.46%
- 5Y*
- 2.30%
- 10Y*
- 2.64%
- ALL TIME*
- 2.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.97M | $77.62M | $67.92M | |
| $304.83M | $291.45M | $343.43M |
PJT vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PJT PJT Partners Inc. | 1.00% | 6.62% | 56.23% | 40.00% | 0.92% | 2.62% | 67.34% | 17.00% | -14.67% | 48.41% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.79% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
Correlation
The correlation between PJT and VCSH is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.17 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015 | 0.04 |
Over the past year, PJT and VCSH have become more correlated (0.25) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
PJT vs. VCSH — Risk / Return Rank
PJT
VCSH
PJT vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PJT Partners Inc. (PJT) 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.
| PJT | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.36 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.61 | -2.77 |
| Martin ratioReturn relative to average drawdown | -0.34 | 10.26 | -10.60 |
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Drawdowns
PJT vs. VCSH - Drawdown Comparison
The maximum PJT drawdown since its inception was -58.44%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for PJT and VCSH.
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Drawdown Indicators
| PJT | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.44% | -12.86% | -45.58% |
Max Drawdown (1Y)Largest decline over 1 year | -32.47% | -1.40% | -31.07% |
Max Drawdown (3Y)Largest decline over 3 years | -32.47% | -1.40% | -31.07% |
Max Drawdown (5Y)Largest decline over 5 years | -37.80% | -9.48% | -28.32% |
Max Drawdown (10Y)Largest decline over 10 years | -58.44% | -12.86% | -45.58% |
Current DrawdownCurrent decline from peak | -11.78% | -0.29% | -11.49% |
Average DrawdownAverage peak-to-trough decline | -13.03% | -0.96% | -12.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.29% | 0.36% | +14.93% |
Volatility
PJT vs. VCSH - Volatility Comparison
PJT Partners Inc. (PJT) has a higher volatility of 14.14% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.55%. This indicates that PJT'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.
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Volatility by Period
| PJT | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.14% | 0.55% | +13.59% |
Volatility (6M)Calculated over the trailing 6-month period | 24.74% | 1.56% | +23.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.09% | 1.94% | +30.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 2.90% | +27.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.61% | 3.35% | +30.26% |
Dividends
PJT vs. VCSH - Dividend Comparison
PJT's dividend yield for the trailing twelve months is around 0.59%, less than VCSH's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJT PJT Partners Inc. | 0.59% | 0.60% | 0.63% | 0.98% | 1.36% | 4.32% | 0.27% | 0.44% | 0.52% | 0.44% | 0.65% | 0.00% |
VCSH Vanguard Short-Term Corporate Bond ETF | 4.08% | 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
PJT and VCSH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PJT has higher volatility (14.14%) compared to VCSH (0.55%). In terms of maximum drawdown, PJT dropped -58.44% vs VCSH's -12.86%.
VCSH currently has the higher Sharpe Ratio (1.89 vs -0.16), 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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