VUBFX vs. ICSH
VUBFX (Vanguard Ultra-Short-Term Bond Fund Investor Shares) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both funds - VUBFX is a Total Bond Market fund managed by Vanguard, while ICSH is a Ultrashort Bond fund actively managed by iShares. Over the past 10 years, VUBFX returned 2.65%/yr vs 2.80%/yr for ICSH. Their 0.27 correlation means their historical movements had little consistent relationship. VUBFX charges 0.20%/yr vs 0.08%/yr for ICSH.
Performance
VUBFX vs. ICSH - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VUBFX having a 1.93% return and ICSH slightly higher at 2.00%. Over the past 10 years, VUBFX has underperformed ICSH with an annualized return of 2.65%, while ICSH has yielded a comparatively higher 2.80% annualized return.
VUBFX
- 1D
- 0.10%
- 1M
- 0.30%
- 6M
- 1.53%
- YTD
- 1.93%
- 1Y
- 3.96%
- 3Y*
- 5.24%
- 5Y*
- 3.50%
- 10Y*
- 2.65%
- ALL TIME*
- 2.60%
ICSH
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 1.65%
- YTD
- 2.00%
- 1Y
- 3.95%
- 3Y*
- 5.06%
- 5Y*
- 3.78%
- 10Y*
- 2.80%
- ALL TIME*
- 2.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $93.24M | $85.27M | $75.54M | |
| $0.00 | $0.00 | $0.00 |
VUBFX vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares | 1.93% | 5.04% | 5.99% | 5.43% | -0.53% | 0.03% | 1.95% | 3.34% | 1.94% | 1.23% |
ICSH iShares Ultra Short Duration Bond Active ETF | 2.00% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
Correlation
The correlation between VUBFX and ICSH is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.27 |
The correlation between VUBFX and ICSH shifts across timeframes, from 0.27 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VUBFX vs. ICSH — Risk / Return Rank
VUBFX
ICSH
VUBFX vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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.
| VUBFX | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.64 | ||
| Sortino ratioReturn per unit of downside risk | -11.48 | ||
| Omega ratioGain probability vs. loss probability | 3.36 | 5.20 | -1.84 |
| Calmar ratioReturn relative to maximum drawdown | 13.96 | 41.60 | -27.63 |
| Martin ratioReturn relative to average drawdown | 73.43 | 224.79 | -151.36 |
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Drawdowns
VUBFX vs. ICSH - Drawdown Comparison
The maximum VUBFX drawdown since its inception was -1.86%, smaller than the maximum ICSH drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for VUBFX and ICSH.
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Drawdown Indicators
| VUBFX | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.86% | -3.94% | +2.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -0.10% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.30% | -0.10% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -1.86% | -0.73% | -1.13% |
Max Drawdown (10Y)Largest decline over 10 years | -1.86% | -3.94% | +2.08% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -0.08% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 0.02% | +0.04% |
Volatility
VUBFX vs. ICSH - Volatility Comparison
Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) has a higher volatility of 0.33% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.12%. This indicates that VUBFX's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUBFX | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.12% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.63% | 0.33% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.83% | 0.42% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.00% | 0.49% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.84% | 1.05% | -0.21% |
VUBFX vs. ICSH - Expense Ratio Comparison
VUBFX has a 0.20% expense ratio, which is higher than ICSH's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VUBFX vs. ICSH - Dividend Comparison
VUBFX's dividend yield for the trailing twelve months is around 3.99%, less than ICSH's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 3.87% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares | 3.99% | 4.62% | 5.42% | 4.06% | 1.28% | 0.43% | 1.52% | 2.58% | 2.13% | 1.43% | 0.98% | 0.00% |
Frequently Asked Questions
VUBFX and ICSH have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VUBFX has higher volatility (0.33%) compared to ICSH (0.12%). In terms of maximum drawdown, VUBFX dropped -1.86% vs ICSH's -3.94%.
ICSH currently has the higher Sharpe Ratio (9.70 vs 5.05), 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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