BIV vs VCSH
Vanguard Intermediate-Term Bond ETF vs Vanguard Short Term Corporate Bond ETF
Which is better, BIV or VCSH?
VCSH has been ahead.
VCSH led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BIV | VCSH |
|---|---|---|
| Expense Ratio | 0.03%Tie | 0.03%Tie |
| AUM | $28.8B | $52.0B |
| Dividend Yield | 4.32% | 4.47% |
| Holdings | 2,336 | 3,023 |
| YTD Return | -2.85% | -0.02%Best |
| 1Y Return | -2.07% | +1.23%Best |
| 3Y Return (annualized) | +4.39% | +5.28%Best |
| 5Y Return (annualized) | -0.56% | +2.14%Best |
| Volatility (annualized) | 5.3% | 2.6%Best |
| Max Drawdown | -20.3% | -12.9%Best |
| $10,000 over 5 years | $9,723 | $11,117Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Fixed Income | Fixed Income |
| Style | - | Short Term Bond |
| Inception | Apr 3, 2007 | Nov 19, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 23, 2009 to Sep 23, 2026 (16.8 years).
BIV vs VCSH growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.8 years both funds cover.
BIV vs VCSH Performance
Vanguard Intermediate-Term Bond ETF (BIV) is an ETF from Vanguard (US) and Vanguard Short Term Corporate Bond ETF (VCSH) is an ETF from Vanguard (US). Over the past year BIV returned -2.07% while VCSH returned +1.23%. Year to date, BIV is down 2.85% versus a loss of 0.02% for VCSH.
Over three years, BIV compounded at +4.39% per year against +5.28% for VCSH; over five years the annualized figures are -0.56% and +2.14% respectively. Across the full 17-year window we track, VCSH has the edge at +1.23% annualized vs +0.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BIV has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 2.6% for VCSH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.3% for BIV and -12.9% for VCSH. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BIV charges 0.03% per year while VCSH charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, BIV currently yields 4.32% against 4.47% for VCSH.
Holdings Overlap
We hold position weights for 798 holdings in BIV and 1,545 in VCSH, totalling 60.9% and 62.8% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 9 positions appear in both.
9 positions in common, counted across the 798 positions we hold weights for in BIV and 1,545 in VCSH, against full books of 2,336 and 3,023.
Top Shared Holdings
| Stock | Weight in BIV | Weight in VCSH | Difference |
|---|---|---|---|
| CURVVanguard Market Liquidity Fund | 0.32% | 0.78% | 0.46% |
| GS V2.383 07/21/32Goldman Sachs Group Inc/The 2.38% 21Jul2032 | 0.02% | 0.13% | 0.11% |
| SCHW 2.3 05/13/31Charles Schwab Corp 2.3 05/13/2031 | 0.03% | 0.02% | 0.01% |
| STZ 2.25 08/01/31Constellation Brands Inc 2.25% 01Aug2031 | 0.01% | 0.03% | 0.02% |
| CATMED 5.205 12/01/3Commonspirit Health 5.21% 01Dec2031 | 0.02% | 0.01% | 0.01% |
| EA 1.85 02/15/31Electronic Arts Inc Sr Unsecured 02/31 1.85 | 0.00% | 0.02% | 0.02% |
| SUZANO 3.125 01/15/3Suzano AUStria Gmbh 3.13% 15Jan2032 | 0.02% | 0.00% | 0.02% |
| ICE 3.1 09/15/27Intercontinental Exchange, Inc. | 0.00% | 0.02% | 0.02% |
| MAR 4.5 10/15/31Marriott International Sr Unsecured 10/31 4.5 | 0.00% | 0.02% | 0.02% |
You are not choosing between two funds in isolation.
Whichever of BIV and VCSH you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BIV or VCSH?
BIV has an expense ratio of 0.03% while VCSH charges 0.03%. At the precision these are quoted to, they cost the same.
Which performed better, BIV or VCSH?
Over the past year BIV returned -2.07% vs +1.23% for VCSH, so VCSH leads on 1-year performance. Over the longest common window we track (17 years), BIV annualized +0.56% vs +1.23% for VCSH. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BIV or VCSH?
BIV has been the more volatile fund at 5.3% annualized versus 2.6% for VCSH. Worst drawdown: BIV -20.3% vs VCSH -12.9%.
Should I hold both BIV and VCSH?
BIV and VCSH have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BIV or VCSH?
BIV yields 4.32% while VCSH yields 4.47%, so VCSH currently pays the higher dividend yield.
Is VCSH better than BIV?
VCSH led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.