VCSH vs. AVSF
VCSH (Vanguard Short-Term Corporate Bond ETF) and AVSF (Avantis Short-Term Fixed Income ETF) are both exchange-traded funds - VCSH is a Corporate Bonds fund tracking the Barclays Capital U.S. 1-5 Year Corporate Index, while AVSF is a Short-Term Bond fund actively managed by Avantis. VCSH is passively managed, while AVSF is actively managed. Over the past 5 years, VCSH returned 2.32%/yr vs 1.83%/yr for AVSF. Their correlation of 0.95 suggests significant overlap in exposure. VCSH charges 0.04%/yr vs 0.15%/yr for AVSF.
Performance
VCSH vs. AVSF - Performance Comparison
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Returns By Period
In the year-to-date period, VCSH achieves a 0.64% return, which is significantly higher than AVSF's 0.43% return.
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%
AVSF
- 1D
- -0.09%
- 1M
- 0.10%
- YTD
- 0.43%
- 6M
- 0.72%
- 1Y
- 4.02%
- 3Y*
- 4.80%
- 5Y*
- 1.83%
- 10Y*
- —
VCSH vs. AVSF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 0.64% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 0.89% |
AVSF Avantis Short-Term Fixed Income ETF | 0.43% | 6.57% | 3.81% | 5.25% | -5.52% | -1.17% | 0.53% |
Correlation
The correlation between VCSH and AVSF is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020 | 0.95 |
The correlation between VCSH and AVSF has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
VCSH vs. AVSF — Risk / Return Rank
VCSH
AVSF
VCSH vs. AVSF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Avantis Short-Term Fixed Income ETF (AVSF). 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.
| VCSH | AVSF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.40 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 2.85 | +0.44 |
| Martin ratioReturn relative to average drawdown | 13.55 | 10.80 | +2.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCSH | AVSF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 2.15 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.69 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.66 | +0.35 |
Drawdowns
VCSH vs. AVSF - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, which is greater than AVSF's maximum drawdown of -8.85%. Use the drawdown chart below to compare losses from any high point for VCSH and AVSF.
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Drawdown Indicators
| VCSH | AVSF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -8.85% | -4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -1.42% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -1.42% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -8.85% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | -0.55% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -2.20% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.37% | -0.03% |
Volatility
VCSH vs. AVSF - Volatility Comparison
Vanguard Short-Term Corporate Bond ETF (VCSH) and Avantis Short-Term Fixed Income ETF (AVSF) have volatilities of 0.57% and 0.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCSH | AVSF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.56% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 1.35% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 1.88% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 2.65% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 2.52% | +0.83% |
VCSH vs. AVSF - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than AVSF'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
VCSH vs. AVSF - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, more than AVSF's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVSF Avantis Short-Term Fixed Income ETF | 4.02% | 4.31% | 4.34% | 3.93% | 1.78% | 0.48% | 0.10% | 0.00% | 0.00% | 0.00% | 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
With a correlation of 0.95, VCSH and AVSF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VCSH has higher volatility (0.57%) compared to AVSF (0.56%). In terms of maximum drawdown, VCSH dropped -12.86% vs AVSF's -8.85%.
On 5-year performance, VCSH leads with 2.32% vs 1.83% for AVSF. On fees, VCSH is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VCSH has performed better with a 2.32% return vs 1.83%. 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 0.15% for AVSF.
VCSH has the higher dividend yield at 4.45%, compared with 4.02% for AVSF.
VCSH is categorized as Corporate Bonds, while AVSF is Short-Term Bond. They also come from different issuers: Vanguard and Avantis. Their fees differ too: 0.04% for VCSH and 0.15% for AVSF.
VCSH currently has the higher Sharpe Ratio (2.45 vs 2.15), 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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