BTT vs. VGSH

Last updated Jun 4, 2026

BTT (Blackrock Municipal 2030 Target Term Trust) is a stock, while VGSH (Vanguard Short-Term Treasury ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Over the past 10 years, BTT returned 2.76%/yr vs 1.74%/yr for VGSH. At a 0.27 correlation, their price movements are largely independent.

Performance

BTT vs. VGSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Municipal 2030 Target Term Trust (BTT) and Vanguard Short-Term Treasury ETF (VGSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTT achieves a 0.14% return, which is significantly lower than VGSH's 0.48% return. Over the past 10 years, BTT has outperformed VGSH with an annualized return of 2.76%, while VGSH has yielded a comparatively lower 1.74% annualized return.

BTT

• 1D: -0.79%
• 1M: -0.19%
• YTD: 0.14%
• 6M: 1.41%
• 1Y: 8.35%
• 3Y*: 5.87%
• 5Y*: 0.12%
• 10Y*: 2.76%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTT vs. VGSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTT Blackrock Municipal 2030 Target Term Trust	0.14%	13.71%	1.64%	0.76%	-15.16%	3.94%	9.51%	21.85%	-4.63%	6.52%
VGSH Vanguard Short-Term Treasury ETF	0.48%	5.07%	4.00%	4.31%	-3.86%	-0.60%	3.04%	3.52%	1.55%	0.04%

Correlation

The correlation between BTT and VGSH is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 31, 2012	0.27

The correlation between BTT and VGSH shifts across timeframes, from 0.21 (1 year) to 0.38 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BTT vs. VGSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTT

BTT Risk / Return Rank: 82
BTT Sharpe Ratio Rank: 81
BTT Sortino Ratio Rank: 79
BTT Omega Ratio Rank: 77
BTT Calmar Ratio Rank: 84
BTT Martin Ratio Rank: 88

VGSH

VGSH Risk / Return Rank: 83
VGSH Sharpe Ratio Rank: 81
VGSH Sortino Ratio Rank: 91
VGSH Omega Ratio Rank: 88
VGSH Calmar Ratio Rank: 76
VGSH Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTT vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Municipal 2030 Target Term Trust (BTT) 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.

	BTT	VGSH	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.68	-1.18
Sortino ratio: Return per unit of downside risk	2.28	4.43	-2.15
Omega ratio: Gain probability vs. loss probability	1.28	1.57	-0.29
Calmar ratio: Return relative to maximum drawdown	3.25	3.90	-0.65
Martin ratio: Return relative to average drawdown	10.71	15.52	-4.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTT vs. VGSH - Sharpe Ratio Comparison

The current BTT Sharpe Ratio is 1.50, which is lower than the VGSH Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of BTT and VGSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTT	VGSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	2.68	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.93	-0.91
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	1.11	-0.82
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	1.01	-0.72

Drawdowns

BTT vs. VGSH - Drawdown Comparison

The maximum BTT drawdown since its inception was -30.71%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for BTT and VGSH.

Drawdown Indicators

	BTT	VGSH	Difference
Max Drawdown Largest peak-to-trough decline	-30.71%	-5.70%	-25.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.58%	-0.88%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-9.63%	-0.97%	-8.66%
Max Drawdown (5Y) Largest decline over 5 years	-23.36%	-5.66%	-17.70%
Max Drawdown (10Y) Largest decline over 10 years	-23.36%	-5.70%	-17.66%
Current Drawdown Current decline from peak	-2.25%	-0.29%	-1.96%
Average Drawdown Average peak-to-trough decline	-7.76%	-0.60%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.22%	+0.56%

Volatility

BTT vs. VGSH - Volatility Comparison

Blackrock Municipal 2030 Target Term Trust (BTT) has a higher volatility of 1.72% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that BTT'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.

Volatility by Period

	BTT	VGSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	0.35%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	4.46%	0.88%	+3.58%
Volatility (1Y) Calculated over the trailing 1-year period	5.60%	1.29%	+4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.20%	1.97%	+6.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.72%	1.57%	+8.15%

Dividends

BTT vs. VGSH - Dividend Comparison

BTT's dividend yield for the trailing twelve months is around 2.46%, less than VGSH's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTT Blackrock Municipal 2030 Target Term Trust	2.46%	2.44%	2.70%	3.11%	3.50%	2.89%	2.92%	3.10%	3.93%	4.08%	4.40%	4.46%
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

Can I hold both BTT and VGSH in my portfolio?

BTT and VGSH have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTT or VGSH?

BTT has higher volatility (1.72%) compared to VGSH (0.35%). In terms of maximum drawdown, BTT dropped -30.71% vs VGSH's -5.70%.

Which has better risk-adjusted returns?

VGSH currently has the higher Sharpe Ratio (2.68 vs 1.50), 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.