BBLB vs. VGSH
BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both Government Bonds funds - BBLB tracks the ICE U.S. Treasury 20+ Year Bond Index while VGSH tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, BBLB returned -1.70%/yr vs 4.15%/yr for VGSH. A 0.64 correlation means they provide meaningful diversification when combined. BBLB charges 0.04%/yr vs 0.03%/yr for VGSH.
Performance
BBLB vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, BBLB achieves a -0.36% return, which is significantly lower than VGSH's 0.48% return.
BBLB
- 1D
- -0.40%
- 1M
- 0.77%
- YTD
- -0.36%
- 6M
- -1.96%
- 1Y
- 5.09%
- 3Y*
- -1.70%
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- -0.03%
- 1M
- 0.08%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 3.43%
- 3Y*
- 4.15%
- 5Y*
- 1.81%
- 10Y*
- 1.74%
BBLB vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | -0.36% | 4.26% | -7.84% | -2.91% |
VGSH Vanguard Short-Term Treasury ETF | 0.48% | 5.07% | 4.00% | 2.58% |
Correlation
The correlation between BBLB and VGSH is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2023 | 0.64 |
The correlation between BBLB and VGSH has been stable across timeframes, ranging from 0.63 to 0.64 - a consistent structural relationship.
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Return for Risk
BBLB vs. VGSH — Risk / Return Rank
BBLB
VGSH
BBLB vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Vanguard Short-Term Treasury ETF (VGSH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BBLB | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -3.61 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.57 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 3.90 | -3.22 |
| Martin ratioReturn relative to average drawdown | 1.70 | 15.52 | -13.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BBLB | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 2.68 | -2.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.93 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.17 | 1.01 | -1.18 |
Drawdowns
BBLB vs. VGSH - Drawdown Comparison
The maximum BBLB drawdown since its inception was -21.06%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for BBLB and VGSH.
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Drawdown Indicators
| BBLB | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -5.70% | -15.36% |
Max Drawdown (1Y)Largest decline over 1 year | -7.53% | -0.88% | -6.65% |
Max Drawdown (3Y)Largest decline over 3 years | -18.95% | -0.97% | -17.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -8.93% | -0.29% | -8.64% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -0.60% | -8.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.22% | +2.78% |
Volatility
BBLB vs. VGSH - Volatility Comparison
JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) has a higher volatility of 2.90% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that BBLB's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBLB | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 0.35% | +2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 0.88% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.80% | 1.29% | +8.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.83% | 1.97% | +11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.83% | 1.57% | +12.26% |
BBLB vs. VGSH - Expense Ratio Comparison
BBLB has a 0.04% expense ratio, which is higher than VGSH's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BBLB vs. VGSH - Dividend Comparison
BBLB's dividend yield for the trailing twelve months is around 5.00%, more than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | 5.00% | 5.03% | 5.34% | 2.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
BBLB and VGSH have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBLB has higher volatility (2.90%) compared to VGSH (0.35%). In terms of maximum drawdown, BBLB dropped -21.06% vs VGSH's -5.70%.
On 3-year performance, VGSH leads with 4.15% vs -1.70% for BBLB. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VGSH has performed better with a 4.15% return vs -1.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.04% for BBLB.
BBLB has the higher dividend yield at 5.00%, compared with 3.87% for VGSH.
BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.04% for BBLB and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.68 vs 0.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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