THLIX vs. VCSH

Last updated Jun 3, 2026

THLIX (Thrivent Limited Maturity Bond Fund) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both funds - THLIX is a Short-Term Bond fund managed by Thrivent, while VCSH is a Corporate Bonds fund tracking the Barclays Capital U.S. 1-5 Year Corporate Index. Over the past 10 years, THLIX returned 2.71%/yr vs 2.70%/yr for VCSH. A 0.64 correlation means they provide meaningful diversification when combined. THLIX charges 0.41%/yr vs 0.04%/yr for VCSH.

Performance

THLIX vs. VCSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Limited Maturity Bond Fund (THLIX) 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, THLIX achieves a 0.91% return, which is significantly higher than VCSH's 0.72% return. Both investments have delivered pretty close results over the past 10 years, with THLIX having a 2.71% annualized return and VCSH not far behind at 2.70%.

THLIX

• 1D: 0.00%
• 1M: 0.27%
• YTD: 0.91%
• 6M: 1.38%
• 1Y: 4.54%
• 3Y*: 5.47%
• 5Y*: 2.74%
• 10Y*: 2.71%

VCSH

• 1D: -0.01%
• 1M: 0.21%
• YTD: 0.72%
• 6M: 1.11%
• 1Y: 4.64%
• 3Y*: 5.54%
• 5Y*: 2.36%
• 10Y*: 2.70%

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

THLIX vs. VCSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THLIX Thrivent Limited Maturity Bond Fund	0.91%	6.15%	5.65%	5.84%	-4.29%	0.21%	4.06%	4.73%	0.90%	2.36%
VCSH Vanguard Short-Term Corporate Bond ETF	0.72%	6.77%	4.91%	6.20%	-5.62%	-0.63%	5.13%	7.02%	0.92%	2.17%

Correlation

The correlation between THLIX and VCSH is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009	0.64

The correlation between THLIX and VCSH shifts across timeframes, from 0.64 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

THLIX vs. VCSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

THLIX

THLIX Risk / Return Rank: 80
THLIX Sharpe Ratio Rank: 68
THLIX Sortino Ratio Rank: 93
THLIX Omega Ratio Rank: 85
THLIX Calmar Ratio Rank: 77
THLIX Martin Ratio Rank: 78

VCSH

VCSH Risk / Return Rank: 76
VCSH Sharpe Ratio Rank: 75
VCSH Sortino Ratio Rank: 86
VCSH Omega Ratio Rank: 80
VCSH Calmar Ratio Rank: 65
VCSH Martin Ratio Rank: 71

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.

THLIX vs. VCSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Limited Maturity Bond Fund (THLIX) 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.

	THLIX	VCSH	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.48	-0.06
Sortino ratio Return per unit of downside risk	4.67	3.90	+0.78
Omega ratio Gain probability vs. loss probability	1.58	1.49	+0.10
Calmar ratio Return relative to maximum drawdown	3.50	3.27	+0.23
Martin ratio Return relative to average drawdown	14.74	13.54	+1.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THLIX vs. VCSH - Sharpe Ratio Comparison

The current THLIX Sharpe Ratio is 2.42, which is comparable to the VCSH Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of THLIX 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.

Sharpe Ratios by Period

	THLIX	VCSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.48	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	0.82	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.42	0.81	+0.61
Sharpe Ratio (All Time) Calculated using the full available price history	1.61	1.02	+0.59

Drawdowns

THLIX vs. VCSH - Drawdown Comparison

The maximum THLIX drawdown since its inception was -9.42%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for THLIX and VCSH.

Drawdown Indicators

	THLIX	VCSH	Difference
Max Drawdown Largest peak-to-trough decline	-9.42%	-12.86%	+3.44%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-1.40%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-1.43%	-1.40%	-0.03%
Max Drawdown (5Y) Largest decline over 5 years	-6.75%	-9.48%	+2.73%
Max Drawdown (10Y) Largest decline over 10 years	-6.75%	-12.86%	+6.11%
Current Drawdown Current decline from peak	-0.02%	-0.24%	+0.22%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.97%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.34%	0.00%

Volatility

THLIX vs. VCSH - Volatility Comparison

The current volatility for Thrivent Limited Maturity Bond Fund (THLIX) is 0.53%, while Vanguard Short-Term Corporate Bond ETF (VCSH) has a volatility of 0.57%. This indicates that THLIX experiences smaller price fluctuations and is considered to be less risky than VCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THLIX	VCSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	0.57%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.46%	1.38%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	1.89%	1.88%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.17%	2.88%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.92%	3.35%	-1.43%

THLIX vs. VCSH - Expense Ratio Comparison

THLIX has a 0.41% expense ratio, which is higher than VCSH's 0.04% expense ratio.

Dividends

THLIX vs. VCSH - Dividend Comparison

THLIX's dividend yield for the trailing twelve months is around 4.30%, less than VCSH's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
THLIX Thrivent Limited Maturity Bond Fund	4.30%	4.18%	3.83%	2.53%	2.04%	1.48%	2.04%	2.59%	2.53%	1.93%	1.82%	1.64%
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

Can I hold both THLIX and VCSH in my portfolio?

THLIX and VCSH have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THLIX or VCSH?

VCSH has higher volatility (0.57%) compared to THLIX (0.53%). In terms of maximum drawdown, THLIX dropped -9.42% vs VCSH's -12.86%.

Which has better risk-adjusted returns?

VCSH currently has the higher Sharpe Ratio (2.48 vs 2.42), 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.