VCSH vs. OVT
Compare and contrast key facts about Vanguard Short-Term Corporate Bond ETF (VCSH) and Overlay Shares Short Term Bond ETF (OVT).
VCSH and OVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VCSH is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. 1-5 Year Corporate Index. It was launched on Nov 19, 2009. OVT is an actively managed fund by Liquid Strategies. It was launched on Jan 14, 2021.
Performance
VCSH vs. OVT - Performance Comparison
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VCSH vs. OVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 0.13% | 6.77% | 4.91% | 6.20% | -5.62% | -0.46% |
OVT Overlay Shares Short Term Bond ETF | 1.21% | 7.61% | 7.44% | 7.73% | -9.68% | 2.07% |
Returns By Period
In the year-to-date period, VCSH achieves a 0.13% return, which is significantly lower than OVT's 1.21% return.
VCSH
- 1D
- 0.29%
- 1M
- -0.83%
- YTD
- 0.13%
- 6M
- 1.37%
- 1Y
- 4.93%
- 3Y*
- 5.36%
- 5Y*
- 2.37%
- 10Y*
- 2.72%
OVT
- 1D
- 0.59%
- 1M
- -0.82%
- YTD
- 1.21%
- 6M
- 3.29%
- 1Y
- 8.33%
- 3Y*
- 7.22%
- 5Y*
- 3.05%
- 10Y*
- —
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VCSH vs. OVT - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than OVT's 0.80% expense ratio.
Return for Risk
VCSH vs. OVT — Risk / Return Rank
VCSH
OVT
VCSH vs. OVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Overlay Shares Short Term Bond ETF (OVT). 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 | OVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.17 | 2.10 | +0.08 |
Sortino ratioReturn per unit of downside risk | 3.19 | 3.00 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.42 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.52 | 4.46 | -0.94 |
Martin ratioReturn relative to average drawdown | 14.44 | 16.27 | -1.84 |
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 | OVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.10 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.66 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.64 | +0.37 |
Correlation
The correlation between VCSH and OVT is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
VCSH vs. OVT - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.41%, less than OVT's 8.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 4.41% | 4.35% | 3.96% | 3.09% | 2.01% | 1.81% | 2.27% | 2.87% | 2.65% | 2.26% | 2.10% | 2.08% |
OVT Overlay Shares Short Term Bond ETF | 8.80% | 7.21% | 6.15% | 5.11% | 4.12% | 4.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VCSH vs. OVT - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum OVT drawdown of -13.59%. Use the drawdown chart below to compare losses from any high point for VCSH and OVT.
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Drawdown Indicators
| VCSH | OVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -13.59% | +0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -1.94% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -13.59% | +4.11% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | — | — |
Current DrawdownCurrent decline from peak | -0.83% | -0.82% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -3.50% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.53% | -0.19% |
Volatility
VCSH vs. OVT - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.94%, while Overlay Shares Short Term Bond ETF (OVT) has a volatility of 1.46%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than OVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCSH | OVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.46% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 1.29% | 2.83% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 3.99% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.86% | 4.63% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 4.59% | -1.24% |