USTB vs. VCSH
USTB (VictoryShares Short-Term Bond ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - USTB is a Short-Term Bond fund tracking the Bloomberg 1–3 Year Credit 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 5 years, USTB returned 3.50%/yr vs 2.36%/yr for VCSH. A 0.72 correlation means they provide meaningful diversification when combined. USTB charges 0.34%/yr vs 0.04%/yr for VCSH.
Performance
USTB vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, USTB achieves a 1.24% return, which is significantly higher than VCSH's 0.62% return.
USTB
- 1D
- -0.08%
- 1M
- 0.28%
- YTD
- 1.24%
- 6M
- 1.42%
- 1Y
- 4.43%
- 3Y*
- 6.10%
- 5Y*
- 3.50%
- 10Y*
- —
VCSH
- 1D
- -0.10%
- 1M
- 0.25%
- YTD
- 0.62%
- 6M
- 0.82%
- 1Y
- 4.15%
- 3Y*
- 5.56%
- 5Y*
- 2.36%
- 10Y*
- 2.64%
USTB vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USTB VictoryShares Short-Term Bond ETF | 1.24% | 6.08% | 6.49% | 6.69% | -2.82% | 0.90% | 5.12% | 5.10% | 1.08% | 0.35% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.62% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | -0.23% |
Correlation
The correlation between USTB and VCSH is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.72 |
The correlation between USTB and VCSH shifts across timeframes, from 0.72 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USTB vs. VCSH — Risk / Return Rank
USTB
VCSH
USTB vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares Short-Term Bond ETF (USTB) 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.
| USTB | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.80 | 1.42 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 5.27 | 2.98 | +2.29 |
| Martin ratioReturn relative to average drawdown | 23.86 | 12.06 | +11.80 |
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Drawdowns
USTB vs. VCSH - Drawdown Comparison
The maximum USTB drawdown since its inception was -5.32%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for USTB and VCSH.
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Drawdown Indicators
| USTB | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.32% | -12.86% | +7.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -1.40% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -1.02% | -1.40% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -4.96% | -9.48% | +4.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.86% | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.34% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -0.65% | -0.96% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.35% | -0.16% |
Volatility
USTB vs. VCSH - Volatility Comparison
The current volatility for VictoryShares Short-Term Bond ETF (USTB) is 0.42%, while Vanguard Short-Term Corporate Bond ETF (VCSH) has a volatility of 0.68%. This indicates that USTB 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.
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Volatility by Period
| USTB | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.68% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.90% | 1.48% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.24% | 1.92% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.02% | 2.89% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.00% | 3.35% | -1.35% |
USTB vs. VCSH - Expense Ratio Comparison
USTB has a 0.34% expense ratio, which is higher than VCSH's 0.04% expense ratio.
Dividends
USTB vs. VCSH - Dividend Comparison
USTB's dividend yield for the trailing twelve months is around 4.57%, more than VCSH's 4.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USTB VictoryShares Short-Term Bond ETF | 4.57% | 4.62% | 5.05% | 4.49% | 2.54% | 1.84% | 2.59% | 2.69% | 2.32% | 0.43% | 0.00% | 0.00% |
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
USTB and VCSH have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCSH has higher volatility (0.68%) compared to USTB (0.42%). In terms of maximum drawdown, USTB dropped -5.32% vs VCSH's -12.86%.
On 5-year performance, USTB leads with 3.50% vs 2.36% for VCSH. On fees, VCSH is cheaper at 0.04% per year. On volatility, USTB has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USTB has performed better with a 3.50% return vs 2.36%. 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 0.34% for USTB.
USTB has the higher dividend yield at 4.57%, compared with 4.45% for VCSH.
USTB is categorized as Short-Term Bond, while VCSH is Corporate Bonds. USTB tracks Bloomberg 1–3 Year Credit Index, while VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index. They also come from different issuers: Victory and Vanguard. Their fees differ too: 0.34% for USTB and 0.04% for VCSH.
USTB currently has the higher Sharpe Ratio (3.61 vs 2.17), 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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