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

Overview

The Vanguard Short-Term Corporate Bond Index Fund ETF Shares (VCSH) operates within the US Bonds - Corporate category, which ETFValuer currently tracks with five distinct funds. Issued by Vanguard, this fund has accumulated assets under management of $51.8 billion and trades at a price of $78.61. It holds an overall rank of #79 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 57.6 out of 100. The fund offers a low expense ratio of 0.03% while providing a dividend yield of 4.44%. The substantial asset size and low cost structure suggest significant investor adoption relative to the small number of peers in its specific category.

Over the most recent trading day, the fund declined by 0.08%, followed by a 0.17% drop over the past week. Gains emerged over the one-month period with a return of 0.37%, which extended to a 0.07% increase over three months. The six-month return stood at 0.26%, while the year-to-date performance matched the one-month gain at 0.37%. A more pronounced positive trend appeared over the one-year horizon with a return of 3.58%, and the three-year return reached 16.49%. This pattern indicates a divergence where short-term fluctuations were muted or negative compared to the stronger cumulative gains observed over longer holding periods.

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 -0.72, suggesting that the risk-adjusted returns have been negative over the measured period. The maximum drawdown was limited to -1.40%, reflecting a constrained downside during market stress. This combination of low beta and minimal drawdown contrasts with the negative Sharpe ratio, implying that while the fund effectively limited losses, the returns generated were insufficient to compensate for the risk taken over the specific timeframe analyzed.

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.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — 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): 16.13 (as of 2026-07-07) — 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: 2.67% (as of 2026-07-07) — 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 Performance History

How VCSH Compares to Other US Bonds - Corporate ETFs