VCSH vs VOE
Vanguard Short Term Corporate Bond ETF vs Vanguard Mid-Cap Value ETF
Quick Verdict
VCSH has a lower expense ratio. VOE delivered stronger 1-year returns. VCSH offers more diversification with 2440 holdings.
Side-by-Side Comparison
| Metric | VCSH | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $44.9B | $22.9B | |
| Dividend Yield | 4.44% | 2.31% | |
| Holdings | 2,719 | 177 | |
| YTD Return | +0.86% | +18.67% | |
| 1Y Return | +2.85% | +25.06% | |
| 3Y Return (annualized) | +5.57% | +17.05% | |
| 5Y Return (annualized) | +2.33% | +10.16% | |
| Volatility (annualized) | 2.6% | 17.6% | |
| Max Drawdown | -12.9% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Nov 19, 2009 | Aug 17, 2006 |
VCSH vs VOE Performance
Vanguard Short Term Corporate Bond ETF (VCSH) is a ETF from Vanguard (US) and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VCSH returned +2.85% while VOE returned +25.06%. Year to date, VCSH is up 0.86% versus a gain of 18.67% for VOE.
Over three years, VCSH compounded at +5.57% per year against +17.05% for VOE; over five years the annualized figures are +2.33% and +10.16% respectively. Across the full 17-year window we track, VOE has the edge at +8.02% annualized vs +1.29%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -12.9% for VCSH and -63.4% for VOE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.48. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
VCSH charges 0.03% per year while VOE charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, VCSH currently yields 4.44% against 2.31% for VOE.
Holdings Overlap
VCSH and VOE share 3 holdings out of 2606 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in VCSH | Weight in VOE | Difference |
|---|---|---|---|
| KDP | 0.02% | 0.73% | 0.71% |
| HUBB | 0.01% | 0.12% | 0.11% |
| LEN 4.75 11/29/27 | 0.01% | 0.03% | 0.02% |
Frequently Asked Questions
Which is cheaper, VCSH or VOE?
VCSH has an expense ratio of 0.03% while VOE charges 0.05%. VCSH is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, VCSH or VOE?
Over the past year VCSH returned +2.85% vs +25.06% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (17 years), VCSH annualized +1.29% vs +8.02% for VOE. Past performance does not guarantee future results.
Which is riskier, VCSH or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 2.6% for VCSH. Worst drawdown: VCSH -12.9% vs VOE -63.4%.
Should I hold both VCSH and VOE?
VCSH and VOE have a monthly-return correlation of 0.48, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VCSH and VOE?
VCSH and VOE share 3 common holdings with a 0.0% weight overlap. Combined, they hold 2606 unique securities.
Which pays a higher dividend, VCSH or VOE?
VCSH yields 4.44% while VOE yields 2.31%, so VCSH currently pays the higher dividend yield.
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