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Vanguard Short-Term Treasury ETF (VGSH)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Vanguard Short-Term Treasury ETF (VGSH)

ETF · Currency in USD · Last updated May 31, 2025

VGSH is a passive ETF by Vanguard tracking the investment results of the Barclays U.S. 1-3 Year Government Float Adjusted Index. VGSH launched on Nov 19, 2009 and has a 0.04% expense ratio.

ETF Info

ISIN

US92206C1027

CUSIP

92206C102

Issuer

Vanguard

Inception Date

Nov 19, 2009

Region

North America (U.S.)

Category

Government Bonds

Leveraged

1x

Index Tracked

Barclays U.S. 1-3 Year Government Float Adjusted Index

Home Page

advisors.vanguard.com

Asset Class

Bond

Expense Ratio

VGSH has an expense ratio of 0.04%, which is considered low.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Short-Term Treasury ETF

Popular comparisons:
VGSH vs. sgov VGSH vs. SHV VGSH vs. SHY VGSH vs. VCSH VGSH vs. VTIP VGSH vs. SCHO VGSH vs. BND VGSH vs. VUSB VGSH vs. USFR VGSH vs. BNDX
Popular comparisons:
VGSH vs. sgov VGSH vs. SHV VGSH vs. SHY VGSH vs. VCSH VGSH vs. VTIP VGSH vs. SCHO VGSH vs. BND VGSH vs. VUSB VGSH vs. USFR VGSH vs. BNDX

Performance

Performance Chart

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S&P 500

Returns By Period

Vanguard Short-Term Treasury ETF (VGSH) returned 2.18% year-to-date (YTD) and 5.81% over the past 12 months. Over the past 10 years, VGSH returned 1.50% annually, underperforming the S&P 500 benchmark at 10.85%.

VGSH

YTD

2.18%

1M

-0.24%

6M

2.42%

1Y

5.81%

3Y*

2.99%

5Y*

1.18%

10Y*

1.50%

^GSPC (Benchmark)

YTD

0.51%

1M

6.15%

6M

-2.00%

1Y

12.92%

3Y*

12.68%

5Y*

14.19%

10Y*

10.85%

*Annualized

Monthly Returns

The table below presents the monthly returns of VGSH, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.40%0.73%0.42%0.85%-0.24%2.18%
20240.36%-0.45%0.32%-0.38%0.73%0.57%1.20%0.86%0.79%-0.57%0.30%0.24%4.01%
20230.74%-0.75%1.69%0.23%-0.39%-0.48%0.29%0.47%-0.11%0.35%1.05%1.16%4.31%
2022-0.72%-0.40%-1.42%-0.48%0.56%-0.59%0.39%-0.75%-1.18%-0.14%0.67%0.16%-3.86%
20210.04%-0.02%-0.08%0.07%0.08%-0.20%0.18%-0.01%-0.12%-0.30%-0.06%-0.18%-0.60%
20200.56%0.89%1.34%0.03%0.08%0.00%0.10%-0.05%0.01%-0.02%0.03%0.02%3.04%
20190.20%0.07%0.62%0.22%0.78%0.45%-0.06%0.81%-0.17%0.37%-0.03%0.21%3.52%
2018-0.31%-0.04%0.18%-0.17%0.38%0.00%-0.04%0.36%-0.15%0.12%0.40%0.83%1.56%
2017-0.20%0.05%0.06%0.16%0.10%-0.06%0.17%0.20%-0.16%-0.12%-0.17%-0.02%0.03%
20160.58%0.09%0.16%0.03%-0.15%0.71%-0.12%-0.23%0.19%-0.09%-0.46%0.40%1.10%
20150.48%-0.22%0.20%0.10%0.07%0.01%0.12%-0.08%0.27%-0.15%-0.22%-0.06%0.51%
20140.11%0.06%-0.15%0.14%0.14%-0.07%-0.01%0.14%-0.06%0.24%0.14%-0.23%0.46%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 98, VGSH is among the top 2% of ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of VGSH is 9898
Overall Rank
The Sharpe Ratio Rank of VGSH is 9898
Sharpe Ratio Rank
The Sortino Ratio Rank of VGSH is 9898
Sortino Ratio Rank
The Omega Ratio Rank of VGSH is 9898
Omega Ratio Rank
The Calmar Ratio Rank of VGSH is 9898
Calmar Ratio Rank
The Martin Ratio Rank of VGSH is 9797
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Vanguard Short-Term Treasury ETF Sharpe ratios as of May 31, 2025 (values are recalculated daily):

  • 1-Year: 3.46
  • 5-Year: 0.63
  • 10-Year: 0.96
  • All Time: 0.92

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Vanguard Short-Term Treasury ETF compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Vanguard Short-Term Treasury ETF provided a 4.17% dividend yield over the last twelve months, with an annual payout of $2.45 per share. The fund has been increasing its distributions for 3 consecutive years.

0.00%1.00%2.00%3.00%4.00%$0.00$0.50$1.00$1.50$2.00$2.5020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$2.45$2.44$1.93$0.67$0.40$1.08$1.39$1.08$0.66$0.51$0.43$0.28

Dividend yield

4.17%4.19%3.32%1.15%0.66%1.75%2.28%1.79%1.10%0.84%0.71%0.46%

Monthly Dividends

The table displays the monthly dividend distributions for Vanguard Short-Term Treasury ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.21$0.19$0.21$0.20$0.80
2024$0.00$0.20$0.19$0.20$0.20$0.21$0.20$0.21$0.21$0.20$0.22$0.40$2.44
2023$0.00$0.13$0.12$0.14$0.14$0.15$0.16$0.17$0.17$0.18$0.19$0.38$1.93
2022$0.00$0.02$0.02$0.02$0.03$0.04$0.05$0.06$0.06$0.07$0.09$0.21$0.67
2021$0.00$0.03$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.22$0.40
2020$0.00$0.10$0.10$0.08$0.07$0.06$0.05$0.05$0.05$0.04$0.04$0.44$1.08
2019$0.00$0.13$0.11$0.13$0.12$0.12$0.12$0.12$0.11$0.11$0.11$0.21$1.39
2018$0.00$0.06$0.07$0.08$0.08$0.09$0.09$0.09$0.10$0.10$0.11$0.22$1.08
2017$0.00$0.03$0.05$0.05$0.05$0.05$0.06$0.05$0.06$0.06$0.06$0.14$0.66
2016$0.00$0.03$0.04$0.04$0.04$0.04$0.05$0.04$0.05$0.04$0.04$0.11$0.51
2015$0.00$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.11$0.43
2014$0.01$0.02$0.01$0.02$0.02$0.02$0.02$0.02$0.02$0.02$0.09$0.28

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Vanguard Short-Term Treasury ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Vanguard Short-Term Treasury ETF was 5.70%, occurring on Oct 20, 2022. Recovery took 393 trading sessions.

The current Vanguard Short-Term Treasury ETF drawdown is 0.24%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-5.7%Apr 21, 2021380Oct 20, 2022393May 15, 2024773
-1.09%Sep 8, 2017173May 16, 2018130Nov 19, 2018303
-0.97%Sep 25, 202435Nov 12, 202448Jan 24, 202583
-0.94%Jul 6, 2016115Dec 15, 2016154Jul 28, 2017269
-0.83%Nov 5, 201067Feb 10, 201158May 5, 2011125
Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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