VCSH vs. VTC
VCSH (Vanguard Short-Term Corporate Bond ETF) and VTC (Vanguard Total Corporate Bond ETF) are both Corporate Bonds funds from Vanguard - VCSH tracks the Barclays Capital U.S. 1-5 Year Corporate Index while VTC tracks the Bloomberg Barclays U.S. Corporate Bond Index. Both are passively managed. Over the past 5 years, VCSH returned 2.32%/yr vs 0.51%/yr for VTC. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.
Performance
VCSH vs. VTC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCSH achieves a 0.64% return, which is significantly higher than VTC's 0.60% return.
VCSH
- 1D
- -0.08%
- 1M
- 0.20%
- YTD
- 0.64%
- 6M
- 0.95%
- 1Y
- 4.59%
- 3Y*
- 5.52%
- 5Y*
- 2.32%
- 10Y*
- 2.70%
VTC
- 1D
- -0.22%
- 1M
- 0.63%
- YTD
- 0.60%
- 6M
- 0.33%
- 1Y
- 5.99%
- 3Y*
- 5.22%
- 5Y*
- 0.51%
- 10Y*
- —
VCSH vs. VTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCSH Vanguard Short-Term Corporate Bond ETF | 0.64% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | -0.14% |
VTC Vanguard Total Corporate Bond ETF | 0.60% | 7.58% | 2.15% | 8.58% | -15.68% | -1.41% | 9.30% | 14.60% | -2.55% | 0.84% |
Correlation
The correlation between VCSH and VTC is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017 | 0.82 |
The correlation between VCSH and VTC has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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. VTC — Risk / Return Rank
VCSH
VTC
VCSH vs. VTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Corporate Bond ETF (VCSH) and Vanguard Total Corporate Bond ETF (VTC). 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 | VTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.24 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 2.09 | +1.20 |
| Martin ratioReturn relative to average drawdown | 13.55 | 6.63 | +6.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VCSH | VTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.45 | 1.38 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.07 | +0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.32 | +0.70 |
Drawdowns
VCSH vs. VTC - Drawdown Comparison
The maximum VCSH drawdown since its inception was -12.86%, smaller than the maximum VTC drawdown of -22.05%. Use the drawdown chart below to compare losses from any high point for VCSH and VTC.
Loading charts...
Drawdown Indicators
| VCSH | VTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.86% | -22.05% | +9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -1.40% | -2.88% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.40% | -6.46% | +5.06% |
Max Drawdown (5Y)Largest decline over 5 years | -9.48% | -22.05% | +12.57% |
Max Drawdown (10Y)Largest decline over 10 years | -12.86% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | -0.99% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -5.84% | +4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.90% | -0.56% |
Volatility
VCSH vs. VTC - Volatility Comparison
The current volatility for Vanguard Short-Term Corporate Bond ETF (VCSH) is 0.57%, while Vanguard Total Corporate Bond ETF (VTC) has a volatility of 1.43%. This indicates that VCSH experiences smaller price fluctuations and is considered to be less risky than VTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCSH | VTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 1.43% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 3.22% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.88% | 4.37% | -2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.88% | 7.08% | -4.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 7.68% | -4.33% |
VCSH vs. VTC - Expense Ratio Comparison
Both VCSH and VTC 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%.
Dividends
VCSH vs. VTC - Dividend Comparison
VCSH's dividend yield for the trailing twelve months is around 4.45%, less than VTC's 4.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VTC Vanguard Total Corporate Bond ETF | 4.93% | 4.76% | 4.50% | 3.80% | 3.13% | 2.36% | 2.69% | 3.34% | 3.53% | 0.55% | 0.00% | 0.00% |
Frequently Asked Questions
VCSH and VTC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTC has higher volatility (1.43%) compared to VCSH (0.57%). In terms of maximum drawdown, VCSH dropped -12.86% vs VTC's -22.05%.
On 5-year performance, VCSH leads with 2.32% vs 0.51% for VTC. Both ETFs have the same 0.04% expense ratio. On volatility, VCSH has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VCSH has performed better with a 2.32% return vs 0.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCSH and VTC have the same expense ratio: 0.04% per year.
VTC has the higher dividend yield at 4.93%, compared with 4.45% for VCSH.
VCSH tracks Barclays Capital U.S. 1-5 Year Corporate Index, while VTC tracks Bloomberg Barclays U.S. Corporate Bond Index.
VCSH currently has the higher Sharpe Ratio (2.45 vs 1.38), 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 VTC
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