VTV vs. VCSH
VTV (Vanguard Value ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index, while VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, VTV returned 12.78%/yr vs 2.70%/yr for VCSH. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.04% expense ratio.
Performance
VTV vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, VTV achieves a 14.29% return, which is significantly higher than VCSH's 0.80% return. Over the past 10 years, VTV has outperformed VCSH with an annualized return of 12.78%, while VCSH has yielded a comparatively lower 2.70% annualized return.
VTV
- 1D
- 0.93%
- 1M
- 4.18%
- YTD
- 14.29%
- 6M
- 13.99%
- 1Y
- 26.89%
- 3Y*
- 18.16%
- 5Y*
- 11.76%
- 10Y*
- 12.78%
VCSH
- 1D
- -0.03%
- 1M
- 0.24%
- YTD
- 0.80%
- 6M
- 1.22%
- 1Y
- 4.43%
- 3Y*
- 5.69%
- 5Y*
- 2.33%
- 10Y*
- 2.70%
VTV vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTV Vanguard Value ETF | 14.29% | 15.27% | 15.95% | 9.32% | -2.09% | 26.53% | 2.33% | 25.66% | -5.47% | 17.15% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.80% | 6.77% | 4.91% | 6.20% | -5.62% | -0.63% | 5.13% | 7.02% | 0.92% | 2.17% |
Correlation
The correlation between VTV and VCSH is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.05 |
Over the past year, VTV and VCSH have become more correlated (0.37) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
VTV vs. VCSH — Risk / Return Rank
VTV
VCSH
VTV vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Value ETF (VTV) and Vanguard Short-Term Corporate Bond ETF (VCSH). 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.
| VTV | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.47 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.25 | 3.18 | +1.08 |
| Martin ratioReturn relative to average drawdown | 16.04 | 12.95 | +3.09 |
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Drawdowns
VTV vs. VCSH - Drawdown Comparison
The maximum VTV drawdown since its inception was -59.27%, which is greater than VCSH's maximum drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for VTV and VCSH.
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Drawdown Indicators
| VTV | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.27% | -12.86% | -46.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.35% | -1.40% | -4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -1.40% | -13.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -9.48% | -7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -36.78% | -12.86% | -23.92% |
Current DrawdownCurrent decline from peak | 0.00% | -0.17% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -0.97% | -6.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.34% | +1.34% |
Volatility
VTV vs. VCSH - Volatility Comparison
Vanguard Value ETF (VTV) has a higher volatility of 3.34% compared to Vanguard Short-Term Corporate Bond ETF (VCSH) at 0.66%. This indicates that VTV's price experiences larger fluctuations and is considered to be riskier than VCSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTV | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 0.66% | +2.68% |
Volatility (6M)Calculated over the trailing 6-month period | 7.82% | 1.42% | +6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.38% | 1.88% | +8.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.92% | 2.88% | +11.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 3.35% | +13.33% |
VTV vs. VCSH - Expense Ratio Comparison
Both VTV and VCSH 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
VTV vs. VCSH - Dividend Comparison
VTV's dividend yield for the trailing twelve months is around 1.83%, less than VCSH's 4.45% 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% |
VTV Vanguard Value ETF | 1.83% | 2.05% | 2.31% | 2.46% | 2.52% | 2.15% | 2.56% | 2.50% | 2.73% | 2.29% | 2.44% | 2.60% |
Frequently Asked Questions
VTV and VCSH have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTV has higher volatility (3.34%) compared to VCSH (0.66%). In terms of maximum drawdown, VTV dropped -59.27% vs VCSH's -12.86%.
On 10-year performance, VTV leads with 12.78% vs 2.70% for VCSH. Both ETFs have the same 0.04% expense ratio. On volatility, VCSH has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTV has performed better with a 12.78% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTV and VCSH have the same expense ratio: 0.04% per year.
VCSH has the higher dividend yield at 4.45%, compared with 1.83% for VTV.
VTV is categorized as Large Cap Value Equities, while VCSH is Corporate Bonds. VTV tracks CRSP US Large Cap Value Index, while VCSH tracks Bloomberg U.S. 1-5 Year Corporate Bond Index.
VTV currently has the higher Sharpe Ratio (2.61 vs 2.37), 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.
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