VCSH vs. VFSTX
Compare and contrast key facts about Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX).
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. VFSTX is managed by Vanguard. It was launched on Oct 29, 1982.
Performance
VCSH vs. VFSTX - Performance Comparison
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VCSH vs. VFSTX - 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% |
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | -0.40% | 6.75% | 4.98% | 6.06% | -5.84% | -0.70% | 5.16% | 5.75% | 0.87% | 2.02% |
Returns By Period
In the year-to-date period, VCSH achieves a 0.13% return, which is significantly higher than VFSTX's -0.40% return. Over the past 10 years, VCSH has outperformed VFSTX with an annualized return of 2.72%, while VFSTX has yielded a comparatively lower 2.49% 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%
VFSTX
- 1D
- 0.19%
- 1M
- -1.42%
- YTD
- -0.40%
- 6M
- 0.73%
- 1Y
- 4.26%
- 3Y*
- 5.14%
- 5Y*
- 2.21%
- 10Y*
- 2.49%
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VCSH vs. VFSTX - Expense Ratio Comparison
VCSH has a 0.04% expense ratio, which is lower than VFSTX's 0.20% 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%.
Return for Risk
VCSH vs. VFSTX — Risk / Return Rank
VCSH
VFSTX
VCSH vs. VFSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX). 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 | VFSTX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.17 | 1.90 | +0.28 |
Sortino ratioReturn per unit of downside risk | 3.19 | 3.11 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.42 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.90 | +0.62 |
Martin ratioReturn relative to average drawdown | 14.44 | 11.78 | +2.66 |
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 | VFSTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 1.90 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.75 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 1.02 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 1.51 | -0.49 |
Correlation
The correlation between VCSH and VFSTX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VCSH vs. VFSTX - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.41%, more than VFSTX's 4.20% 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% |
VFSTX Vanguard Short-Term Investment-Grade Fund Investor Shares | 4.20% | 4.48% | 4.06% | 3.05% | 1.93% | 1.70% | 2.24% | 2.83% | 2.68% | 2.00% | 2.04% | 1.99% |
Drawdowns
VCSH vs. VFSTX - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, which is greater than VFSTX's maximum drawdown of -9.35%. Use the drawdown chart below to compare losses from any high point for VCSH and VFSTX.
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Drawdown Indicators
| VCSH | VFSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -9.35% | -3.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -1.71% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -9.35% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | -9.35% | -3.51% |
Current DrawdownCurrent decline from peak | -0.83% | -1.42% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -1.12% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.42% | -0.08% |
Volatility
VCSH vs. VFSTX - Volatility Comparison
Vanguard Short-Term Corporate Bond ETF (VCSH) has a higher volatility of 0.94% compared to Vanguard Short-Term Investment-Grade Fund Investor Shares (VFSTX) at 0.75%. This indicates that VCSH's price experiences larger fluctuations and is considered to be riskier than VFSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCSH | VFSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 0.75% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.29% | 1.49% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.28% | 2.51% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.86% | 2.94% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 2.46% | +0.89% |