VCSH vs. CERY
VCSH (Vanguard Short-Term Corporate Bond ETF) and CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) are both exchange-traded funds - VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index, while CERY is a Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Both are passively managed. Over the past year, VCSH returned 4.15% vs 26.17% for CERY. At a correlation of -0.09, they often move in opposite directions. VCSH charges 0.04%/yr vs 0.28%/yr for CERY.
Performance
VCSH vs. CERY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCSH achieves a 0.62% return, which is significantly lower than CERY's 19.54% return.
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%
CERY
- 1D
- -0.67%
- 1M
- -8.39%
- YTD
- 19.54%
- 6M
- 18.91%
- 1Y
- 26.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCSH vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 0.62% | 6.77% | 0.25% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 19.54% | 15.68% | 3.80% |
Correlation
The correlation between VCSH and CERY is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | -0.09 |
The correlation between VCSH and CERY shifts across timeframes, from -0.20 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VCSH vs. CERY — Risk / Return Rank
VCSH
CERY
VCSH vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). 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.
| VCSH | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.29 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.31 | +0.66 |
| Martin ratioReturn relative to average drawdown | 12.06 | 9.93 | +2.13 |
Loading charts...
Drawdowns
VCSH vs. CERY - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, which is greater than CERY's maximum drawdown of -11.37%. Use the drawdown chart below to compare losses from any high point for VCSH and CERY.
Loading charts...
Drawdown Indicators
| VCSH | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -11.37% | -1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -11.37% | +9.97% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -11.37% | +11.03% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -2.27% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 2.83% | -2.48% |
Volatility
VCSH vs. CERY - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.68%, while SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) has a volatility of 3.57%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCSH | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 3.57% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 1.48% | 13.57% | -12.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 15.63% | -13.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.89% | 14.73% | -11.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 14.73% | -11.38% |
VCSH vs. CERY - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than CERY's 0.28% expense ratio.
Dividends
VCSH vs. CERY - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, more than CERY's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.18% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 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
VCSH and CERY have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CERY has higher volatility (3.57%) compared to VCSH (0.68%). In terms of maximum drawdown, VCSH dropped -12.86% vs CERY's -11.37%.
On 1-year performance, CERY leads with 26.17% vs 4.15% for VCSH. On fees, VCSH is cheaper at 0.04% per year. On volatility, VCSH has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CERY has performed better with a 26.17% return vs 4.15%. 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 0.28% for CERY.
VCSH has the higher dividend yield at 4.45%, compared with 4.18% for CERY.
VCSH is categorized as Corporate Bonds, while CERY is Commodities. VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index, while CERY tracks Bloomberg Enhanced Roll Yield Total Return Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.04% for VCSH and 0.28% for CERY.
VCSH currently has the higher Sharpe Ratio (2.17 vs 1.68), 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.
Find the right allocation for VCSH and CERY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer