VCSH vs. SCHR
VCSH (Vanguard Short-Term Corporate Bond ETF) and SCHR (Schwab Intermediate-Term U.S. Treasury ETF) are both exchange-traded funds - VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index, while SCHR is a Government Bonds fund tracking the Bloomberg US Treasury 3-10 Year Index. Both are passively managed. Over the past 10 years, VCSH returned 2.70%/yr vs 1.19%/yr for SCHR. A 0.72 correlation means they provide meaningful diversification when combined. VCSH charges 0.04%/yr vs 0.05%/yr for SCHR.
Performance
VCSH vs. SCHR - Performance Comparison
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Returns By Period
In the year-to-date period, VCSH achieves a 0.80% return, which is significantly higher than SCHR's -0.27% return. Over the past 10 years, VCSH has outperformed SCHR with an annualized return of 2.70%, while SCHR has yielded a comparatively lower 1.19% 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%
SCHR
- 1D
- -0.12%
- 1M
- 0.66%
- YTD
- -0.27%
- 6M
- 0.04%
- 1Y
- 3.42%
- 3Y*
- 3.71%
- 5Y*
- 0.02%
- 10Y*
- 1.19%
VCSH vs. SCHR - 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% |
SCHR Schwab Intermediate-Term U.S. Treasury ETF | -0.27% | 7.33% | 1.42% | 4.27% | -10.58% | -2.62% | 7.72% | 6.18% | 1.46% | 1.59% |
Correlation
The correlation between VCSH and SCHR is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2010 | 0.72 |
The correlation between VCSH and SCHR shifts across timeframes, from 0.72 (all time) to 0.91 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCSH vs. SCHR — Risk / Return Rank
VCSH
SCHR
VCSH vs. SCHR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Schwab Intermediate-Term U.S. Treasury ETF (SCHR). 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 | SCHR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.17 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 1.17 | +2.01 |
| Martin ratioReturn relative to average drawdown | 12.95 | 3.29 | +9.66 |
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Drawdowns
VCSH vs. SCHR - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum SCHR drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for VCSH and SCHR.
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Drawdown Indicators
| VCSH | SCHR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -16.11% | +3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -2.79% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -4.35% | +2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -15.07% | +5.59% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | -16.11% | +3.25% |
Current DrawdownCurrent decline from peak | -0.17% | -2.21% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -3.64% | +2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.99% | -0.65% |
Volatility
VCSH vs. SCHR - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.66%, while Schwab Intermediate-Term U.S. Treasury ETF (SCHR) has a volatility of 1.11%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than SCHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCSH | SCHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 1.11% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 2.40% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 3.38% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 5.38% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 4.47% | -1.12% |
VCSH vs. SCHR - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than SCHR's 0.05% 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. SCHR - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, more than SCHR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHR Schwab Intermediate-Term U.S. Treasury ETF | 3.91% | 3.85% | 3.77% | 3.16% | 2.02% | 1.00% | 1.62% | 2.31% | 2.11% | 1.65% | 1.45% | 1.56% |
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 SCHR have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHR has higher volatility (1.11%) compared to VCSH (0.66%). In terms of maximum drawdown, VCSH dropped -12.86% vs SCHR's -16.11%.
On 10-year performance, VCSH leads with 2.70% vs 1.19% for SCHR. On fees, VCSH is cheaper at 0.04% per year. 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, VCSH has performed better with a 2.70% return vs 1.19%. 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 0.05% for SCHR.
VCSH has the higher dividend yield at 4.45%, compared with 3.91% for SCHR.
VCSH is categorized as Corporate Bonds, while SCHR is Government Bonds. VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index, while SCHR tracks Bloomberg US Treasury 3-10 Year Index. They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.04% for VCSH and 0.05% for SCHR.
VCSH currently has the higher Sharpe Ratio (2.37 vs 0.97), 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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