VFSIX vs. GHYG
Compare and contrast key facts about Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) and iShares US & Intl High Yield Corp Bond ETF (GHYG).
VFSIX is managed by Vanguard. It was launched on Sep 30, 1997. GHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx Global Developed Markets High Yield Index. It was launched on Apr 3, 2012.
Performance
VFSIX vs. GHYG - Performance Comparison
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VFSIX vs. GHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | -0.38% | 6.89% | 5.12% | 5.88% | -5.72% | -0.59% | 5.28% | 5.88% | 1.00% | 2.15% |
GHYG iShares US & Intl High Yield Corp Bond ETF | -1.26% | 11.28% | 5.85% | 13.29% | -12.15% | 1.62% | 6.68% | 13.47% | -3.79% | 8.97% |
Returns By Period
In the year-to-date period, VFSIX achieves a -0.38% return, which is significantly higher than GHYG's -1.26% return. Over the past 10 years, VFSIX has underperformed GHYG with an annualized return of 2.59%, while GHYG has yielded a comparatively higher 5.01% annualized return.
VFSIX
- 1D
- 0.19%
- 1M
- -1.42%
- YTD
- -0.38%
- 6M
- 0.78%
- 1Y
- 4.38%
- 3Y*
- 5.16%
- 5Y*
- 2.28%
- 10Y*
- 2.59%
GHYG
- 1D
- 1.08%
- 1M
- -1.59%
- YTD
- -1.26%
- 6M
- -0.06%
- 1Y
- 7.61%
- 3Y*
- 8.08%
- 5Y*
- 3.27%
- 10Y*
- 5.01%
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VFSIX vs. GHYG - Expense Ratio Comparison
VFSIX has a 0.07% expense ratio, which is lower than GHYG's 0.40% expense ratio.
Return for Risk
VFSIX vs. GHYG — Risk / Return Rank
VFSIX
GHYG
VFSIX vs. GHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) and iShares US & Intl High Yield Corp Bond ETF (GHYG). 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.
| VFSIX | GHYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.94 | 1.38 | +0.56 |
Sortino ratioReturn per unit of downside risk | 3.20 | 2.07 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.29 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.98 | 1.96 | +1.02 |
Martin ratioReturn relative to average drawdown | 12.10 | 7.52 | +4.58 |
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
| VFSIX | GHYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.38 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.42 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.05 | 0.57 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.53 | 0.54 | +0.99 |
Correlation
The correlation between VFSIX and GHYG is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VFSIX vs. GHYG - Dividend Comparison
VFSIX's dividend yield for the trailing twelve months is around 4.32%, less than GHYG's 6.21% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFSIX Vanguard Short-Term Investment-Grade Fund Institutional Shares | 4.32% | 4.61% | 4.19% | 2.88% | 2.06% | 1.81% | 2.35% | 2.95% | 2.80% | 2.13% | 2.17% | 2.12% |
GHYG iShares US & Intl High Yield Corp Bond ETF | 6.21% | 6.03% | 6.11% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% |
Drawdowns
VFSIX vs. GHYG - Drawdown Comparison
The maximum VFSIX drawdown since its inception was -9.21%, smaller than the maximum GHYG drawdown of -27.36%. Use the drawdown chart below to compare losses from any high point for VFSIX and GHYG.
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Drawdown Indicators
| VFSIX | GHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.21% | -27.36% | +18.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -3.84% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -9.21% | -20.44% | +11.23% |
Max Drawdown (10Y)Largest decline over 10 years | -9.21% | -27.36% | +18.15% |
Current DrawdownCurrent decline from peak | -1.42% | -2.59% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -3.38% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 1.00% | -0.58% |
Volatility
VFSIX vs. GHYG - Volatility Comparison
The current volatility for Vanguard Short-Term Investment-Grade Fund Institutional Shares (VFSIX) is 0.75%, while iShares US & Intl High Yield Corp Bond ETF (GHYG) has a volatility of 2.47%. This indicates that VFSIX experiences smaller price fluctuations and is considered to be less risky than GHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFSIX | GHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 2.47% | -1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 3.43% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 5.55% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.95% | 7.74% | -4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.47% | 8.78% | -6.31% |