VCSH — Vanguard Short-Term Corporate Bond Index Fund ETF Shares

VCSH Price Performance — Growth of $10,000

Value of a $10,000 investment in VCSH over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

VCSH Drawdown

The "underwater" chart: VCSH's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Vanguard Short-Term Corporate Bond Index Fund ETF Shares (VCSH) operates within the US Bonds - Corporate category, which ETFValuer tracks with a total of 17 funds. Issued by Vanguard, this ETF has accumulated assets under management of $51.8 billion while trading at a price of $78.62. It holds an overall rank of #254 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 59.9 out of 100. The fund offers a low cost structure with an expense ratio of 0.03% and provides a dividend yield of 4.44%. The substantial asset size and low expense ratio suggest significant investor adoption relative to the category average. These metrics position the fund as a widely held option within its specific bond sector despite its mid-tier overall ranking.

Over the most recent trading day, the fund posted a return of +0.15%, followed by a +0.04% gain over the one-week period. The one-month return shows a decline of -0.27%, though the three-month horizon recovers to a +0.15% gain. Year-to-date performance stands at +0.76%, while the six-month return accelerates to +0.60%. The one-year return reaches +3.59%, and the three-year return extends significantly to +17.35%. This pattern indicates a divergence where short-term fluctuations have been muted or negative, while longer-term horizons demonstrate positive accumulation. The data shows a general upward trajectory when comparing the one-month decline against the stronger three-year results.

The fund carries a Very Low volatility label and a beta of 0.41, indicating that its price movements are generally less sensitive to broader market shifts. Despite this lower volatility, the Sharpe ratio is recorded at -0.73, suggesting that the risk-adjusted returns have been negative over the measured period. The maximum drawdown for the fund is -1.40%, reflecting a limited peak-to-trough decline during the observation window. This combination of low beta and a small maximum drawdown implies the fund experiences smaller absolute swings compared to higher-beta assets. However, the negative Sharpe ratio indicates that these lower volatility characteristics have not translated into positive excess returns relative to the risk-free rate in the current environment.

AI-generated summary based on the data on this page.

VCSH Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 2.2% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how VCSH's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With VCSH

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with VCSH's top 10 — VCLT overlaps most, holding 5 of the same companies as VCSH's top 10 (1.2% of VCSH's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

High-Yield Credit Spread: 2.81% (as of 2026-07-27) — The extra yield investors demand to hold high-yield corporate bonds over Treasuries — a real-time gauge of credit risk appetite relevant to this fund’s holdings.

VCSH Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.14% and average daily volume is 4.3M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $51.8B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: VCSH is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

VCSH Performance History

How VCSH Compares to Other US Bonds - Corporate ETFs