VCSH
Vanguard Short-Term Corporate Bond ETF
Vanguard Short-Term Corporate Bond ETF is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the Barclays Capital US 1-5 Year Corporate Bond Index.
Corporate
FIXED INCOME
Passive
MANAGEMENT STYLE
39.6 B
ASSETS UNDER MGMT
4 bp
EXPENSES
Fund Basics
| Fund sponsor | Vanguard Group Inc/The |
| Category | Corporate |
| Asset class | Fixed Income |
| Website | link... |
| Inception date | Nov 19, 2009 |
| Assets (mns) | $39,574 |
| Expense ratio | 4 bp |
Constituent Breakdown
| No. of constituents | 2,455 |
| No. of distinct issuers | 843 |
| Coverage | 117% |
| Fixed/floating rate | 82% / 18% |
| Investment grade | 99% |
| Inflation protected | 0% |
| Non-standard maturity (callable, etc.) | 79% |
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Monthly |
| Taxation | 1099 |
| Bond selection | |
| Weighting | Market Cap |
| Smart-beta | No |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| U.S. TREASURY NOTES | 0.3 % |
| U.S. TREASURY NOTES | 0.3 % |
| BANK OF AMERICA CORP. | 0.3 % |
| BANK OF AMERICA CORP. | 0.2 % |
| CVS HEALTH CORP | 0.2 % |
| ABBVIE INC. | 0.2 % |
| WELLS FARGO & CO. | 0.2 % |
| ANHEUSER-BUSCH INBEV WORLDWIDE INC. | 0.2 % |
| BANK OF AMERICA CORP. | 0.2 % |
| GOLDMAN SACHS GROUP, INC. | 0.2 % |
Issuer Type Breakdown
Top Issuers
| BANK OF AMERICA CORPORATION | 3.4 % |
| JPMORGAN CHASE & CO. | 3.3 % |
| MORGAN STANLEY | 2.9 % |
| GOLDMAN SACHS GROUP, INC. | 2.4 % |
| WELLS FARGO & COMPANY | 2.3 % |
Historical Performance
Standardized Performance (as of 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 2.5% | 0.6% | 3.1% | 2.5% | -0.7% | 0.0% | -- | 0.4% |
| Dividend Yield | 0.8% | 1.8% | 2.9% | 2.9% | 2.4% | 2.5% | -- | 2.4% |
| Total Returns | 3.2% | 2.5% | 6.0% | 5.4% | 1.7% | 2.5% | -- | 2.7% | Ann. Volatility | 2.6% | 2.5% | 2.6% | 3.0% | 2.9% | 3.4% | -- | 2.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.12 | 29% |
| MSCI EAFE | 0.13 | 45% |
| MSCI Emg Mkts | 0.13 | 45% |
Liquidity Measures
| Avg. volume (000) | 5,330 |
| ADV traded (mns) | $426 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.01% |
Technical Indicators
| Recent close | $79.96 |
| 30d moving avg. | $79.62 |
| Annualized volatility | 3.0% |
| Relative strength (RSI) | 62 |
| Short interest | 1.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Credit Quality
Duration
Macaulay Duration
Modified Duration
SHORT
MED.
LONG TERM
2.9 yrs
Modified Duration
◁ INSENSITIVE
EXTREMELY SENSITIVE ▷
2.8%
ⓘ Our analysis shows this fund is likely to be relatively insensitive to changes in interest rates
Interest Rate Sensitivity Analysis
| Change in YTM |
New YTM |
Est. Price Change |
New Price |
|---|---|---|---|
| +300 bp | --% | --% | $-- |
| +200 bp | --% | --% | $-- |
| +150 bp | --% | --% | $-- |
| +100 bp | --% | --% | $-- |
| +75 bp | --% | --% | $-- |
| +50 bp | --% | --% | $-- |
| +25 bp | --% | --% | $-- |
| 0 bp | --% | --% | $-- |
| -25 bp | --% | --% | $-- |
| -50 bp | --% | --% | $-- |
| -75 bp | --% | --% | $-- |
| -100 bp | --% | --% | $-- |
| -150 bp | --% | --% | $-- |
| -200 bp | --% | --% | $-- |
| - 300bp | --% | --% | $-- |
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Yields
Disposition of YTM
Distribution Yield (Trailing 12 Months)
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ETF Research Center Fund Rating
The ALTAR Score™ is our measure of an ETF's overall investment merit. For fixed income funds, the Score is an estimate of risk-adjusted yield to maturity (calculation shown below). In effecient markets, the plot of ALTAR Scores™ vs. Duration should resemble the familiar yield curve. Funds that sit above the curve may offer better risk-adjusted returns than those that sit below the curve.
ALTAR Score™
VCSH
3.4%
Cat. Avg
3.8%
Fund Category: Corporate
| Adj. Yield to Maturity | -- bp |
| Less: Annual "default factor" | -- bp |
| Less: Expenses | 4 bp |
| Equals: ALTAR Score™ | 3.4% |
ALTAR Score™ vs. Duration (Corporate Bond ETFs)
Expense Analysis
| Peer Group | Passive Corporate Fixed Income ETFs |
| # of ETFs | 24 |
| Avg. Expense Ratio | 19.3 bp |
| Std. Deviation | 17.4 bp |
| VCSH (4 bp) Percentile rank | 19 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| VCSH | 4.0 | 1.3 | 5.3 |
| Peer Avg. | 19.3 | 9.5 | 28.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .