VISTX vs. VSCSX

Last updated Aug 4, 2026

VISTX (Vanguard Institutional Short-Term Bond Fund) and VSCSX (Vanguard Short-Term Corporate Bond Index Fund Admiral Shares) are both Short-Term Bond funds from Vanguard. Over the past 10 years, VISTX returned 2.44%/yr vs 2.64%/yr for VSCSX. Their correlation of 0.81 means they have usually moved in the same direction. VISTX charges 0.02%/yr vs 0.06%/yr for VSCSX.

Performance

VISTX vs. VSCSX - Performance Comparison

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

Returns By Period

In the year-to-date period, VISTX achieves a 1.18% return, which is significantly higher than VSCSX's 0.79% return. Over the past 10 years, VISTX has underperformed VSCSX with an annualized return of 2.44%, while VSCSX has yielded a comparatively higher 2.64% annualized return.

VISTX

• 1D: -0.08%
• 1M: 0.08%
• 6M: 0.90%
• YTD: 1.18%
• 1Y: 3.32%
• 3Y*: 5.19%
• 5Y*: 2.56%
• 10Y*: 2.44%
• ALL TIME*: 2.48%

VSCSX

• 1D: -0.05%
• 1M: -0.14%
• 6M: 0.46%
• YTD: 0.79%
• 1Y: 3.08%
• 3Y*: 5.55%
• 5Y*: 2.35%
• 10Y*: 2.64%
• ALL TIME*: 2.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VISTX Vanguard Institutional Short-Term Bond Fund	$0.00	$0.00	$0.00
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	$0.00	$0.00	$0.00

VISTX vs. VSCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VISTX Vanguard Institutional Short-Term Bond Fund	1.18%	5.68%	5.56%	4.98%	-3.73%	-0.04%	3.92%	4.20%	1.83%	1.42%
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	0.79%	6.75%	5.36%	6.11%	-5.72%	-0.43%	5.06%	6.85%	0.88%	2.46%

Correlation

The correlation between VISTX and VSCSX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.81

The correlation between VISTX and VSCSX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

VISTX vs. VSCSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VISTX

VISTX Risk / Return Rank: 96
VISTX Sharpe Ratio Rank: 97
VISTX Sortino Ratio Rank: 97
VISTX Omega Ratio Rank: 96
VISTX Calmar Ratio Rank: 95
VISTX Martin Ratio Rank: 96

VSCSX

VSCSX Risk / Return Rank: 80
VSCSX Sharpe Ratio Rank: 82
VSCSX Sortino Ratio Rank: 83
VSCSX Omega Ratio Rank: 81
VSCSX Calmar Ratio Rank: 77
VSCSX Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VISTX vs. VSCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Short-Term Bond Fund (VISTX) and Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX). 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	VSCSX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.00	+0.85
Sortino ratio: Return per unit of downside risk	4.55	2.97	+1.59
Omega ratio: Gain probability vs. loss probability	1.64	1.39	+0.25
Calmar ratio: Return relative to maximum drawdown	4.42	2.62	+1.80
Martin ratio: Return relative to average drawdown	18.29	10.01	+8.28

VISTX vs. VSCSX - Sharpe Ratio Comparison

The current VISTX Sharpe Ratio is 2.85, which is higher than the VSCSX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of VISTX and VSCSX, 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. VSCSX - Drawdown Comparison

The maximum VISTX drawdown since its inception was -5.64%, smaller than the maximum VSCSX drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for VISTX and VSCSX.

Drawdown Indicators

	VISTX	VSCSX	Difference
Max Drawdown Largest peak-to-trough decline	-5.64%	-9.36%	+3.72%
Max Drawdown (1Y) Largest decline over 1 year	-0.86%	-1.36%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-0.86%	-1.36%	+0.50%
Max Drawdown (5Y) Largest decline over 5 years	-5.64%	-9.27%	+3.63%
Max Drawdown (10Y) Largest decline over 10 years	-5.64%	-9.36%	+3.72%
Current Drawdown Current decline from peak	-0.08%	-0.28%	+0.20%
Average Drawdown Average peak-to-trough decline	-0.68%	-0.97%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	0.36%	-0.15%

Volatility

VISTX vs. VSCSX - Volatility Comparison

The current volatility for Vanguard Institutional Short-Term Bond Fund (VISTX) is 0.38%, while Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX) has a volatility of 0.50%. This indicates that VISTX experiences smaller price fluctuations and is considered to be less risky than VSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VISTX	VSCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	0.50%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	1.00%	1.43%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	1.33%	1.78%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.88%	2.73%	-0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.48%	2.37%	-0.89%

VISTX vs. VSCSX - Expense Ratio Comparison

VISTX has a 0.02% expense ratio, which is lower than VSCSX's 0.06% 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. VSCSX - Dividend Comparison

VISTX's dividend yield for the trailing twelve months is around 4.06%, which matches VSCSX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VISTX Vanguard Institutional Short-Term Bond Fund	4.06%	4.53%	5.03%	3.91%	1.76%	1.85%	2.33%	2.72%	2.32%	1.78%	1.51%	0.00%
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares	4.05%	4.32%	4.27%	3.07%	1.98%	1.78%	2.25%	2.85%	2.66%	2.26%	1.93%	2.21%

Frequently Asked Questions

Can I hold both VISTX and VSCSX in my portfolio?

VISTX and VSCSX have a correlation of 0.87, 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 VSCSX?

VSCSX has higher volatility (0.50%) compared to VISTX (0.38%). In terms of maximum drawdown, VISTX dropped -5.64% vs VSCSX's -9.36%.

Which has better risk-adjusted returns?

VISTX currently has the higher Sharpe Ratio (2.85 vs 2.00), 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.