VISTX vs. VCIT

Last updated Jun 23, 2026

VISTX (Vanguard Institutional Short-Term Bond Fund) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both funds - VISTX is a Short-Term Bond fund managed by Vanguard, while VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index. Over the past 10 years, VISTX returned 2.44%/yr vs 2.86%/yr for VCIT. A 0.66 correlation means they provide meaningful diversification when combined. VISTX charges 0.02%/yr vs 0.03%/yr for VCIT.

Performance

VISTX vs. VCIT - Performance Comparison

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

Returns By Period

In the year-to-date period, VISTX achieves a 0.81% return, which is significantly higher than VCIT's 0.22% return. Over the past 10 years, VISTX has underperformed VCIT with an annualized return of 2.44%, while VCIT has yielded a comparatively higher 2.86% annualized return.

VISTX

• 1D: 0.08%
• 1M: 0.22%
• YTD: 0.81%
• 6M: 0.97%
• 1Y: 3.89%
• 3Y*: 5.16%
• 5Y*: 2.53%
• 10Y*: 2.44%

VCIT

• 1D: -0.23%
• 1M: 0.50%
• YTD: 0.22%
• 6M: 0.37%
• 1Y: 5.37%
• 3Y*: 6.06%
• 5Y*: 1.14%
• 10Y*: 2.86%

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

VISTX vs. VCIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VISTX Vanguard Institutional Short-Term Bond Fund	0.81%	5.68%	5.56%	4.98%	-3.73%	-0.04%	3.92%	4.20%	1.83%	1.42%
VCIT Vanguard Intermediate-Term Corporate Bond ETF	0.22%	9.34%	3.20%	8.98%	-13.98%	-1.77%	9.46%	14.10%	-1.74%	5.31%

Correlation

The correlation between VISTX and VCIT is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.66

The correlation between VISTX and VCIT shifts across timeframes, from 0.66 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VISTX vs. VCIT — Risk / Return Rank

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

VISTX

VISTX Risk / Return Rank: 93
VISTX Sharpe Ratio Rank: 93
VISTX Sortino Ratio Rank: 95
VISTX Omega Ratio Rank: 93
VISTX Calmar Ratio Rank: 92
VISTX Martin Ratio Rank: 94

VCIT

VCIT Risk / Return Rank: 37
VCIT Sharpe Ratio Rank: 38
VCIT Sortino Ratio Rank: 39
VCIT Omega Ratio Rank: 36
VCIT Calmar Ratio Rank: 37
VCIT Martin Ratio Rank: 38

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.

VISTX vs. VCIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Short-Term Bond Fund (VISTX) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.

	VISTX	VCIT	Difference
Sharpe ratio: Return per unit of total volatility	2.93	1.31	+1.62
Sortino ratio: Return per unit of downside risk	4.65	1.95	+2.70
Omega ratio: Gain probability vs. loss probability	1.67	1.23	+0.44
Calmar ratio: Return relative to maximum drawdown	4.63	1.82	+2.81
Martin ratio: Return relative to average drawdown	19.21	5.78	+13.42

VISTX vs. VCIT - Sharpe Ratio Comparison

The current VISTX Sharpe Ratio is 2.93, which is higher than the VCIT Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of VISTX and VCIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VISTX vs. VCIT - Drawdown Comparison

The maximum VISTX drawdown since its inception was -5.64%, smaller than the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for VISTX and VCIT.

Drawdown Indicators

	VISTX	VCIT	Difference
Max Drawdown Largest peak-to-trough decline	-5.64%	-20.56%	+14.92%
Max Drawdown (1Y) Largest decline over 1 year	-0.86%	-2.96%	+2.10%
Max Drawdown (3Y) Largest decline over 3 years	-0.86%	-6.11%	+5.25%
Max Drawdown (5Y) Largest decline over 5 years	-5.64%	-20.56%	+14.92%
Max Drawdown (10Y) Largest decline over 10 years	-5.64%	-20.56%	+14.92%
Current Drawdown Current decline from peak	-0.23%	-1.32%	+1.09%
Average Drawdown Average peak-to-trough decline	-0.68%	-3.15%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.93%	-0.72%

Volatility

VISTX vs. VCIT - Volatility Comparison

The current volatility for Vanguard Institutional Short-Term Bond Fund (VISTX) is 0.56%, while Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a volatility of 1.23%. This indicates that VISTX experiences smaller price fluctuations and is considered to be less risky than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VISTX	VCIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	1.23%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	0.96%	3.18%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	1.36%	4.11%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.88%	6.62%	-4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.48%	6.29%	-4.81%

VISTX vs. VCIT - Expense Ratio Comparison

VISTX has a 0.02% expense ratio, which is lower than VCIT's 0.03% 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

VISTX vs. VCIT - Dividend Comparison

VISTX's dividend yield for the trailing twelve months is around 4.46%, less than VCIT's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VCIT Vanguard Intermediate-Term Corporate Bond ETF	4.80%	4.62%	4.43%	3.72%	3.03%	2.87%	2.78%	3.37%	3.61%	3.21%	3.29%	3.34%
VISTX Vanguard Institutional Short-Term Bond Fund	4.46%	4.53%	5.03%	3.91%	1.76%	1.85%	2.33%	2.72%	2.32%	1.78%	1.51%	0.00%

Frequently Asked Questions

Can I hold both VISTX and VCIT in my portfolio?

VISTX and VCIT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VISTX or VCIT?

VCIT has higher volatility (1.23%) compared to VISTX (0.56%). In terms of maximum drawdown, VISTX dropped -5.64% vs VCIT's -20.56%.

Which has better risk-adjusted returns?

VISTX currently has the higher Sharpe Ratio (2.93 vs 1.31), 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.