VCSH vs. IMCB
VCSH (Vanguard Short-Term Corporate Bond ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both exchange-traded funds - VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index, while IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap Index. Both are passively managed. Over the past 10 years, VCSH returned 2.70%/yr vs 11.53%/yr for IMCB. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.04% expense ratio.
Performance
VCSH vs. IMCB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCSH achieves a 0.80% return, which is significantly lower than IMCB's 15.22% return. Over the past 10 years, VCSH has underperformed IMCB with an annualized return of 2.70%, while IMCB has yielded a comparatively higher 11.53% annualized return.
VCSH
- 1D
- -0.03%
- 1M
- 0.53%
- YTD
- 0.80%
- 6M
- 1.22%
- 1Y
- 4.60%
- 3Y*
- 5.69%
- 5Y*
- 2.33%
- 10Y*
- 2.70%
IMCB
- 1D
- 1.00%
- 1M
- 5.50%
- YTD
- 15.22%
- 6M
- 14.34%
- 1Y
- 24.76%
- 3Y*
- 16.91%
- 5Y*
- 8.79%
- 10Y*
- 11.53%
VCSH vs. IMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 0.80% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
IMCB iShares Morningstar Mid-Cap ETF | 15.22% | 10.25% | 15.10% | 16.37% | -16.09% | 22.81% | 13.35% | 31.49% | -11.53% | 19.70% |
Correlation
The correlation between VCSH and IMCB is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.10 |
Over the past year, VCSH and IMCB have become more correlated (0.40) than their long-term average of 0.10, meaning their price movements have been converging.
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. IMCB — Risk / Return Rank
VCSH
IMCB
VCSH vs. IMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and iShares Morningstar Mid-Cap ETF (IMCB). 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 | IMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.31 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 2.92 | +0.25 |
| Martin ratioReturn relative to average drawdown | 12.95 | 11.45 | +1.50 |
Loading charts...
Drawdowns
VCSH vs. IMCB - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum IMCB drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for VCSH and IMCB.
Loading charts...
Drawdown Indicators
| VCSH | IMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -58.80% | +45.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -8.05% | +6.65% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -19.80% | +18.40% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -25.15% | +15.67% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | -40.99% | +28.13% |
Current DrawdownCurrent decline from peak | -0.17% | -0.26% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -7.72% | +6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 2.05% | -1.71% |
Volatility
VCSH vs. IMCB - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.66%, while iShares Morningstar Mid-Cap ETF (IMCB) has a volatility of 4.70%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than IMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCSH | IMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 4.70% | -4.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 10.18% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 13.25% | -11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 17.64% | -14.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 19.67% | -16.32% |
VCSH vs. IMCB - Expense Ratio Comparison
Both VCSH and IMCB have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCSH vs. IMCB - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, more than IMCB's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMCB iShares Morningstar Mid-Cap ETF | 1.21% | 1.42% | 1.43% | 1.55% | 1.70% | 1.08% | 1.12% | 1.32% | 1.80% | 1.31% | 1.79% | 1.47% |
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 IMCB have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMCB has higher volatility (4.70%) compared to VCSH (0.66%). In terms of maximum drawdown, VCSH dropped -12.86% vs IMCB's -58.80%.
On 10-year performance, IMCB leads with 11.53% vs 2.70% for VCSH. Both ETFs have the same 0.04% expense ratio. On volatility, VCSH has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IMCB has performed better with a 11.53% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCSH and IMCB have the same expense ratio: 0.04% per year.
VCSH has the higher dividend yield at 4.45%, compared with 1.21% for IMCB.
VCSH is categorized as Corporate Bonds, while IMCB is Mid Cap Blend Equities. VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index, while IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index. They also come from different issuers: Vanguard and iShares.
VCSH currently has the higher Sharpe Ratio (2.37 vs 1.77), 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 IMCB
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