YEAR vs. VCSH
YEAR (AB Ultra Short Income ETF) and VCSH (Vanguard Short-Term Corporate Bond ETF) are both exchange-traded funds - YEAR is a Ultrashort Bond fund actively managed by AllianceBernstein, while VCSH is a Corporate Bonds fund tracking the Bloomberg U.S. 1-5 Year Corporate Bond Index. YEAR is actively managed, while VCSH is passively managed. Over the past 3 years, YEAR returned 4.94%/yr vs 5.56%/yr for VCSH. A 0.64 correlation means they provide meaningful diversification when combined. YEAR charges 0.25%/yr vs 0.04%/yr for VCSH.
Performance
YEAR vs. VCSH - Performance Comparison
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Returns By Period
In the year-to-date period, YEAR achieves a 1.22% return, which is significantly higher than VCSH's 0.62% return.
YEAR
- 1D
- -0.05%
- 1M
- 0.19%
- YTD
- 1.22%
- 6M
- 1.34%
- 1Y
- 3.66%
- 3Y*
- 4.94%
- 5Y*
- —
- 10Y*
- —
VCSH
- 1D
- -0.10%
- 1M
- 0.25%
- YTD
- 0.62%
- 6M
- 0.82%
- 1Y
- 4.15%
- 3Y*
- 5.56%
- 5Y*
- 2.36%
- 10Y*
- 2.64%
YEAR vs. VCSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
YEAR AB Ultra Short Income ETF | 1.22% | 4.69% | 5.41% | 5.85% | 1.07% |
VCSH Vanguard Short-Term Corporate Bond ETF | 0.62% | 6.77% | 4.91% | 6.20% | 0.25% |
Correlation
The correlation between YEAR and VCSH is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2022 | 0.64 |
The correlation between YEAR and VCSH has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.
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Return for Risk
YEAR vs. VCSH — Risk / Return Rank
YEAR
VCSH
YEAR vs. VCSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AB Ultra Short Income ETF (YEAR) 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.
| YEAR | VCSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +5.07 | ||
| Omega ratioGain probability vs. loss probability | 2.10 | 1.42 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 16.17 | 2.98 | +13.19 |
| Martin ratioReturn relative to average drawdown | 69.73 | 12.06 | +57.67 |
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Drawdowns
YEAR vs. VCSH - Drawdown Comparison
The maximum YEAR drawdown since its inception was -0.64%, smaller than the maximum VCSH drawdown of -12.86%. Use the drawdown chart below to compare losses from any high point for YEAR and VCSH.
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Drawdown Indicators
| YEAR | VCSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.64% | -12.86% | +12.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.23% | -1.40% | +1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -0.43% | -1.40% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.86% | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.34% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -0.96% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.35% | -0.30% |
Volatility
YEAR vs. VCSH - Volatility Comparison
The current volatility for AB Ultra Short Income ETF (YEAR) is 0.28%, while Vanguard Short-Term Corporate Bond ETF (VCSH) has a volatility of 0.68%. This indicates that YEAR experiences smaller price fluctuations and is considered to be less risky 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
| YEAR | VCSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.68% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 0.54% | 1.48% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 1.92% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.15% | 2.89% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.15% | 3.35% | -2.20% |
YEAR vs. VCSH - Expense Ratio Comparison
YEAR has a 0.25% expense ratio, which is higher than VCSH's 0.04% 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
YEAR vs. VCSH - Dividend Comparison
YEAR's dividend yield for the trailing twelve months is around 4.14%, 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% |
YEAR AB Ultra Short Income ETF | 4.14% | 4.33% | 5.16% | 5.00% | 1.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YEAR and VCSH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCSH has higher volatility (0.68%) compared to YEAR (0.28%). In terms of maximum drawdown, YEAR dropped -0.64% vs VCSH's -12.86%.
On 3-year performance, VCSH leads with 5.56% vs 4.94% for YEAR. On fees, VCSH is cheaper at 0.04% per year. On volatility, YEAR has been the lower-risk option at 0.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VCSH has performed better with a 5.56% return vs 4.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCSH is cheaper with a 0.04% expense ratio, compared with 0.25% for YEAR.
VCSH has the higher dividend yield at 4.45%, compared with 4.14% for YEAR.
YEAR is categorized as Ultrashort Bond, while VCSH is Corporate Bonds. They also come from different issuers: AllianceBernstein and Vanguard. Their fees differ too: 0.25% for YEAR and 0.04% for VCSH.
YEAR currently has the higher Sharpe Ratio (4.66 vs 2.17), 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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