BOND vs. VGSH
BOND (PIMCO Active Bond ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. BOND is actively managed, while VGSH is passively managed. Over the past 10 years, BOND returned 2.08%/yr vs 1.71%/yr for VGSH. A 0.62 correlation means they provide meaningful diversification when combined. BOND charges 0.54%/yr vs 0.03%/yr for VGSH.
Performance
BOND vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, BOND achieves a -0.03% return, which is significantly lower than VGSH's 0.36% return. Over the past 10 years, BOND has outperformed VGSH with an annualized return of 2.08%, while VGSH has yielded a comparatively lower 1.71% annualized return.
BOND
- 1D
- -0.12%
- 1M
- -0.86%
- YTD
- -0.03%
- 6M
- 0.53%
- 1Y
- 6.21%
- 3Y*
- 4.91%
- 5Y*
- 0.34%
- 10Y*
- 2.08%
VGSH
- 1D
- 0.00%
- 1M
- -0.20%
- YTD
- 0.36%
- 6M
- 0.76%
- 1Y
- 3.41%
- 3Y*
- 4.14%
- 5Y*
- 1.79%
- 10Y*
- 1.71%
BOND vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | -0.03% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
VGSH Vanguard Short-Term Treasury ETF | 0.36% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between BOND and VGSH is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012 | 0.62 |
The correlation between BOND and VGSH shifts across timeframes, from 0.62 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOND vs. VGSH — Risk / Return Rank
BOND
VGSH
BOND vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Active Bond ETF (BOND) 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.
| BOND | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.57 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 3.88 | -1.81 |
| Martin ratioReturn relative to average drawdown | 6.47 | 15.29 | -8.82 |
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
| BOND | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 2.69 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.91 | -0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 1.09 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.01 | -0.38 |
Drawdowns
BOND vs. VGSH - Drawdown Comparison
The maximum BOND drawdown since its inception was -19.71%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for BOND and VGSH.
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Drawdown Indicators
| BOND | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.71% | -5.70% | -14.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -0.88% | -2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.12% | -0.97% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -5.66% | -14.05% |
Max Drawdown (10Y)Largest decline over 10 years | -19.71% | -5.70% | -14.01% |
Current DrawdownCurrent decline from peak | -2.06% | -0.41% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -0.60% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.22% | +0.74% |
Volatility
BOND vs. VGSH - Volatility Comparison
PIMCO Active Bond ETF (BOND) has a higher volatility of 1.42% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that BOND'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
| BOND | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 0.35% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 0.89% | +2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.93% | 1.28% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.77% | 1.97% | +3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 1.58% | +3.51% |
BOND vs. VGSH - Expense Ratio Comparison
BOND has a 0.54% expense ratio, which is higher than VGSH's 0.03% expense ratio.
Dividends
BOND vs. VGSH - Dividend Comparison
BOND's dividend yield for the trailing twelve months is around 5.21%, more than VGSH's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 5.21% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
VGSH Vanguard Short-Term Treasury ETF | 3.88% | 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
BOND and VGSH have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOND has higher volatility (1.42%) compared to VGSH (0.35%). In terms of maximum drawdown, BOND dropped -19.71% vs VGSH's -5.70%.
On 10-year performance, BOND leads with 2.08% vs 1.71% for VGSH. 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 10-year period, BOND has performed better with a 2.08% return vs 1.71%. 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 0.54% for BOND.
BOND has the higher dividend yield at 5.21%, compared with 3.88% for VGSH.
BOND is categorized as Intermediate Core-Plus Bond, while VGSH is Government Bonds. They also come from different issuers: PIMCO and Vanguard. Their fees differ too: 0.54% for BOND and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.69 vs 1.59), 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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