VCSH vs. JMSIX

Last updated Jun 9, 2026

VCSH (Vanguard Short-Term Corporate Bond ETF) and JMSIX (JPMorgan Income Fund) are both funds - VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index, while JMSIX is a Multisector Bonds fund managed by JPMorgan. Over the past 10 years, VCSH returned 2.66%/yr vs 3.94%/yr for JMSIX. A 0.56 correlation means they provide meaningful diversification when combined. VCSH charges 0.04%/yr vs 0.40%/yr for JMSIX.

Performance

VCSH vs. JMSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Corporate Bond ETF (VCSH) and JPMorgan Income Fund (JMSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCSH achieves a 0.44% return, which is significantly lower than JMSIX's 1.11% return. Over the past 10 years, VCSH has underperformed JMSIX with an annualized return of 2.66%, while JMSIX has yielded a comparatively higher 3.94% annualized return.

VCSH

• 1D: 0.03%
• 1M: -0.26%
• YTD: 0.44%
• 6M: 0.92%
• 1Y: 4.56%
• 3Y*: 5.56%
• 5Y*: 2.26%
• 10Y*: 2.66%

JMSIX

• 1D: -0.12%
• 1M: 0.03%
• YTD: 1.11%
• 6M: 1.85%
• 1Y: 5.80%
• 3Y*: 7.04%
• 5Y*: 2.76%
• 10Y*: 3.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VCSH vs. JMSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCSH Vanguard Short-Term Corporate Bond ETF	0.44%	6.77%	4.91%	6.20%	-5.62%	-0.63%	5.13%	7.02%	0.92%	2.17%
JMSIX JPMorgan Income Fund	1.11%	7.68%	7.78%	6.14%	-8.24%	3.59%	3.07%	11.82%	1.03%	6.00%

Correlation

The correlation between VCSH and JMSIX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.56

The correlation between VCSH and JMSIX shifts across timeframes, from 0.56 (all time) to 0.75 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VCSH vs. JMSIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCSH

VCSH Risk / Return Rank: 82
VCSH Sharpe Ratio Rank: 84
VCSH Sortino Ratio Rank: 90
VCSH Omega Ratio Rank: 86
VCSH Calmar Ratio Rank: 72
VCSH Martin Ratio Rank: 77

JMSIX

JMSIX Risk / Return Rank: 79
JMSIX Sharpe Ratio Rank: 61
JMSIX Sortino Ratio Rank: 90
JMSIX Omega Ratio Rank: 86
JMSIX Calmar Ratio Rank: 78
JMSIX Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VCSH vs. JMSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and JPMorgan Income Fund (JMSIX). 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	JMSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	2.21	+0.24
Sortino ratio: Return per unit of downside risk	3.82	4.35	-0.53
Omega ratio: Gain probability vs. loss probability	1.48	1.58	-0.09
Calmar ratio: Return relative to maximum drawdown	3.27	3.43	-0.16
Martin ratio: Return relative to average drawdown	13.41	14.27	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCSH vs. JMSIX - Sharpe Ratio Comparison

The current VCSH Sharpe Ratio is 2.45, which is comparable to the JMSIX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of VCSH and JMSIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCSH	JMSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	2.21	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.74	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	1.02	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.78	+0.23

Drawdowns

VCSH vs. JMSIX - Drawdown Comparison

The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum JMSIX drawdown of -18.40%. Use the drawdown chart below to compare losses from any high point for VCSH and JMSIX.

Drawdown Indicators

	VCSH	JMSIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.86%	-18.40%	+5.54%
Max Drawdown (1Y) Largest decline over 1 year	-1.40%	-1.62%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-1.40%	-2.31%	+0.91%
Max Drawdown (5Y) Largest decline over 5 years	-9.48%	-11.39%	+1.91%
Max Drawdown (10Y) Largest decline over 10 years	-12.86%	-18.40%	+5.54%
Current Drawdown Current decline from peak	-0.52%	-0.24%	-0.28%
Average Drawdown Average peak-to-trough decline	-0.97%	-2.56%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	0.39%	-0.05%

Volatility

VCSH vs. JMSIX - Volatility Comparison

The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.61%, while JPMorgan Income Fund (JMSIX) has a volatility of 0.79%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than JMSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCSH	JMSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.79%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.41%	1.89%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	1.87%	2.53%	-0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.88%	3.73%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	3.87%	-0.52%

VCSH vs. JMSIX - Expense Ratio Comparison

VCSH has a 0.04% expense ratio, which is lower than JMSIX's 0.40% expense ratio.

Dividends

VCSH vs. JMSIX - Dividend Comparison

VCSH's dividend yield for the trailing twelve months is around 4.46%, less than JMSIX's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMSIX JPMorgan Income Fund	6.04%	5.95%	5.78%	4.43%	4.78%	4.00%	4.95%	5.10%	5.43%	5.42%	0.46%	0.00%
VCSH Vanguard Short-Term Corporate Bond ETF	4.46%	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

Can I hold both VCSH and JMSIX in my portfolio?

VCSH and JMSIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VCSH or JMSIX?

JMSIX has higher volatility (0.79%) compared to VCSH (0.61%). In terms of maximum drawdown, VCSH dropped -12.86% vs JMSIX's -18.40%.

Which has better risk-adjusted returns?

VCSH currently has the higher Sharpe Ratio (2.45 vs 2.21), 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.