VCIT vs. SHV
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, VCIT returned 2.93%/yr vs 2.23%/yr for SHV. At a 0.13 correlation, their price movements are largely independent. VCIT charges 0.03%/yr vs 0.15%/yr for SHV.
Performance
VCIT vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a 0.41% return, which is significantly lower than SHV's 1.53% return. Over the past 10 years, VCIT has outperformed SHV with an annualized return of 2.93%, while SHV has yielded a comparatively lower 2.23% annualized return.
VCIT
- 1D
- -0.07%
- 1M
- 0.96%
- YTD
- 0.41%
- 6M
- 0.89%
- 1Y
- 6.00%
- 3Y*
- 6.37%
- 5Y*
- 1.11%
- 10Y*
- 2.93%
SHV
- 1D
- 0.03%
- 1M
- 0.26%
- YTD
- 1.53%
- 6M
- 1.73%
- 1Y
- 3.86%
- 3Y*
- 4.63%
- 5Y*
- 3.34%
- 10Y*
- 2.23%
VCIT vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.41% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.53% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between VCIT and SHV is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.13 |
The correlation between VCIT and SHV shifts across timeframes, from 0.13 (all time) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCIT vs. SHV — Risk / Return Rank
VCIT
SHV
VCIT vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and iShares 0-1 Year Treasury Bond ETF (SHV). 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.
| VCIT | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.13 | ||
| Sortino ratioReturn per unit of downside risk | -147.52 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 53.77 | -52.52 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 431.38 | -429.50 |
| Martin ratioReturn relative to average drawdown | 6.07 | 2,419.80 | -2,413.72 |
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Drawdowns
VCIT vs. SHV - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for VCIT and SHV.
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Drawdown Indicators
| VCIT | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -0.45% | -20.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -0.01% | -2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -0.03% | -6.08% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -0.39% | -20.17% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | -0.45% | -20.11% |
Current DrawdownCurrent decline from peak | -1.13% | 0.00% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -0.03% | -3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.00% | +0.92% |
Volatility
VCIT vs. SHV - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a higher volatility of 1.48% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.04%. This indicates that VCIT's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIT | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.04% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 0.12% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 0.20% | +3.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 0.29% | +6.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 0.28% | +6.00% |
VCIT vs. SHV - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than SHV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCIT vs. SHV - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.79%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.79% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Frequently Asked Questions
VCIT and SHV have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCIT has higher volatility (1.48%) compared to SHV (0.04%). In terms of maximum drawdown, VCIT dropped -20.56% vs SHV's -0.45%.
On 10-year performance, VCIT leads with 2.93% vs 2.23% for SHV. On fees, VCIT is cheaper at 0.03% per year. On volatility, SHV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCIT has performed better with a 2.93% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.03% expense ratio, compared with 0.15% for SHV.
VCIT has the higher dividend yield at 4.79%, compared with 3.83% for SHV.
VCIT is categorized as Corporate Bonds, while SHV is Government Bonds. VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VCIT and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 1.36), 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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