VCSH vs. VBK
VCSH (Vanguard Short-Term Corporate Bond ETF) and VBK (Vanguard Small-Cap Growth ETF) are both exchange-traded funds - VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index, while VBK is a Small Cap Growth Equities fund tracking the CRSP US Small Cap Growth Index. Both are passively managed. Over the past 10 years, VCSH returned 2.70%/yr vs 11.82%/yr for VBK. At a 0.10 correlation, their price movements are largely independent. VCSH charges 0.04%/yr vs 0.05%/yr for VBK.
Performance
VCSH vs. VBK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCSH achieves a 0.80% return, which is significantly lower than VBK's 16.25% return. Over the past 10 years, VCSH has underperformed VBK with an annualized return of 2.70%, while VBK has yielded a comparatively higher 11.82% 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%
VBK
- 1D
- 0.33%
- 1M
- 3.93%
- YTD
- 16.25%
- 6M
- 14.67%
- 1Y
- 31.85%
- 3Y*
- 16.10%
- 5Y*
- 4.87%
- 10Y*
- 11.82%
VCSH vs. VBK - 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% |
VBK Vanguard Small-Cap Growth ETF | 16.25% | 8.50% | 16.50% | 21.45% | -28.44% | 5.66% | 35.44% | 32.75% | -5.70% | 21.87% |
Correlation
The correlation between VCSH and VBK is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.10 |
Over the past year, VCSH and VBK have become more correlated (0.37) 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. VBK — Risk / Return Rank
VCSH
VBK
VCSH vs. VBK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Small-Cap Growth ETF (VBK). 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 | VBK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.26 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 2.62 | +0.56 |
| Martin ratioReturn relative to average drawdown | 12.95 | 9.82 | +3.13 |
Loading charts...
Drawdowns
VCSH vs. VBK - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum VBK drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for VCSH and VBK.
Loading charts...
Drawdown Indicators
| VCSH | VBK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -58.68% | +45.82% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -11.44% | +10.04% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -27.54% | +26.14% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -38.39% | +28.91% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | -38.70% | +25.84% |
Current DrawdownCurrent decline from peak | -0.17% | -2.04% | +1.87% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -10.14% | +9.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 3.05% | -2.71% |
Volatility
VCSH vs. VBK - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.66%, while Vanguard Small-Cap Growth ETF (VBK) has a volatility of 7.31%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than VBK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCSH | VBK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.66% | 7.31% | -6.65% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 15.61% | -14.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 19.96% | -18.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 23.59% | -20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 22.92% | -19.57% |
VCSH vs. VBK - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than VBK'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. VBK - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, more than VBK's 0.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBK Vanguard Small-Cap Growth ETF | 0.45% | 0.54% | 0.54% | 0.68% | 0.55% | 0.36% | 0.44% | 0.57% | 0.79% | 0.82% | 1.08% | 0.98% |
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 VBK have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBK has higher volatility (7.31%) compared to VCSH (0.66%). In terms of maximum drawdown, VCSH dropped -12.86% vs VBK's -58.68%.
On 10-year performance, VBK leads with 11.82% vs 2.70% for VCSH. 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, VBK has performed better with a 11.82% return vs 2.70%. 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 VBK.
VCSH has the higher dividend yield at 4.45%, compared with 0.45% for VBK.
VCSH is categorized as Corporate Bonds, while VBK is Small Cap Growth Equities. VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index, while VBK tracks CRSP US Small Cap Growth Index. Their fees differ too: 0.04% for VCSH and 0.05% for VBK.
VCSH currently has the higher Sharpe Ratio (2.37 vs 1.50), 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 VBK
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