VCSH vs. VCLT

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Long-Term Corporate Bond ETF (VCLT).

VCSH and VCLT 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. VCLT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 10+ Year Corporate Index. It was launched on Nov 19, 2009. Both VCSH and VCLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VCSH vs. VCLT - Performance Comparison

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

VCSH vs. VCLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCSH Vanguard Short-Term Corporate Bond ETF	0.13%	6.77%	4.91%	6.20%	-5.62%	-0.63%	5.13%	7.02%	0.92%	2.17%
VCLT Vanguard Long-Term Corporate Bond ETF	-0.63%	7.18%	-1.90%	11.17%	-25.50%	-1.73%	13.27%	23.89%	-7.04%	11.70%

Returns By Period

In the year-to-date period, VCSH achieves a 0.13% return, which is significantly higher than VCLT's -0.63% return. Over the past 10 years, VCSH has outperformed VCLT with an annualized return of 2.72%, while VCLT has yielded a comparatively lower 2.46% annualized 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%

VCLT

• 1D: 0.78%
• 1M: -2.90%
• YTD: -0.63%
• 6M: -1.22%
• 1Y: 4.03%
• 3Y*: 3.07%
• 5Y*: -1.73%
• 10Y*: 2.46%

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

VCSH vs. VCLT - Expense Ratio Comparison

Both VCSH and VCLT 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%.

VCSH

Vanguard Short-Term Corporate Bond ETF

VCLT

Vanguard Long-Term Corporate Bond ETF

Return for Risk

VCSH vs. VCLT — Risk / Return Rank

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

VCSH

VCSH Risk / Return Rank: 95
VCSH Sharpe Ratio Rank: 94
VCSH Sortino Ratio Rank: 96
VCSH Omega Ratio Rank: 95
VCSH Calmar Ratio Rank: 94
VCSH Martin Ratio Rank: 95

VCLT

VCLT Risk / Return Rank: 27
VCLT Sharpe Ratio Rank: 25
VCLT Sortino Ratio Rank: 23
VCLT Omega Ratio Rank: 23
VCLT Calmar Ratio Rank: 36
VCLT Martin Ratio Rank: 26

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. VCLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Long-Term Corporate Bond ETF (VCLT). 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	VCLT	Difference
Sharpe ratio Return per unit of total volatility	2.17	0.40	+1.78
Sortino ratio Return per unit of downside risk	3.19	0.59	+2.60
Omega ratio Gain probability vs. loss probability	1.45	1.08	+0.37
Calmar ratio Return relative to maximum drawdown	3.52	0.82	+2.69
Martin ratio Return relative to average drawdown	14.44	1.92	+12.52
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. VCLT - Sharpe Ratio Comparison

The current VCSH Sharpe Ratio is 2.17, which is higher than the VCLT Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of VCSH and VCLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VCSH	VCLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	0.40	+1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	-0.14	+0.97
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.19	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.39	+0.63

Correlation

The correlation between VCSH and VCLT is 0.63, 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. VCLT - Dividend Comparison

VCSH's dividend yield for the trailing twelve months is around 4.41%, less than VCLT's 5.62% 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%
VCLT Vanguard Long-Term Corporate Bond ETF	5.62%	5.51%	5.19%	4.67%	4.44%	3.07%	3.16%	3.81%	4.55%	4.01%	4.33%	4.68%

Drawdowns

VCSH vs. VCLT - Drawdown Comparison

The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for VCSH and VCLT.

Drawdown Indicators

	VCSH	VCLT	Difference
Max Drawdown Largest peak-to-trough decline	-12.86%	-34.31%	+21.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.40%	-5.39%	+3.99%
Max Drawdown (5Y) Largest decline over 5 years	-9.48%	-34.31%	+24.83%
Max Drawdown (10Y) Largest decline over 10 years	-12.86%	-34.31%	+21.45%
Current Drawdown Current decline from peak	-0.83%	-15.73%	+14.90%
Average Drawdown Average peak-to-trough decline	-0.97%	-8.08%	+7.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	2.32%	-1.98%

Volatility

VCSH vs. VCLT - Volatility Comparison

The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.94%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 3.98%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than VCLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCSH	VCLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	3.98%	-3.04%
Volatility (6M) Calculated over the trailing 6-month period	1.29%	5.62%	-4.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.28%	10.22%	-7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.86%	12.81%	-9.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	12.84%	-9.49%