GOVT vs. VUSXX
GOVT (iShares U.S. Treasury Bond ETF) and VUSXX (Vanguard Treasury Money Market Fund) are both funds - GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index, while VUSXX is a Money Market fund actively managed by Vanguard. GOVT is passively managed, while VUSXX is actively managed. Over the past 5 years, GOVT returned -0.43%/yr vs 1.56%/yr for VUSXX. At a 0.05 correlation, their price movements are largely independent. GOVT charges 0.05%/yr vs 0.07%/yr for VUSXX.
Performance
GOVT vs. VUSXX - Performance Comparison
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Returns By Period
In the year-to-date period, GOVT achieves a 0.02% return, which is significantly lower than VUSXX's 1.51% return.
GOVT
- 1D
- 0.13%
- 1M
- 0.14%
- YTD
- 0.02%
- 6M
- 0.01%
- 1Y
- 3.37%
- 3Y*
- 2.88%
- 5Y*
- -0.43%
- 10Y*
- 0.90%
VUSXX
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 1.51%
- 6M
- 1.84%
- 1Y
- 3.98%
- 3Y*
- 2.61%
- 5Y*
- 1.56%
- 10Y*
- —
GOVT vs. VUSXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 0.02% | 3.77% | 2.95% | 4.17% | -13.39% | 1.65% |
VUSXX Vanguard Treasury Money Market Fund | 1.51% | 4.25% | 1.65% | 0.43% | 0.00% | 0.00% |
Correlation
The correlation between GOVT and VUSXX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 26, 2021 | 0.05 |
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Return for Risk
GOVT vs. VUSXX — Risk / Return Rank
GOVT
VUSXX
GOVT vs. VUSXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and Vanguard Treasury Money Market Fund (VUSXX). 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.
| GOVT | VUSXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | — | — |
| Martin ratioReturn relative to average drawdown | 3.47 | — | — |
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
| GOVT | VUSXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 3.68 | -2.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 2.15 | -2.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 2.14 | -1.88 |
Drawdowns
GOVT vs. VUSXX - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, which is greater than VUSXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for GOVT and VUSXX.
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Drawdown Indicators
| GOVT | VUSXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | 0.00% | -19.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | 0.00% | -2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | 0.00% | -5.43% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | 0.00% | -16.60% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -7.05% | 0.00% | -7.05% |
Average DrawdownAverage peak-to-trough decline | -5.25% | 0.00% | -5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.00% | +0.97% |
Volatility
GOVT vs. VUSXX - Volatility Comparison
iShares U.S. Treasury Bond ETF (GOVT) has a higher volatility of 1.10% compared to Vanguard Treasury Money Market Fund (VUSXX) at 0.31%. This indicates that GOVT's price experiences larger fluctuations and is considered to be riskier than VUSXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVT | VUSXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.31% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.52% | 0.79% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 1.12% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 0.75% | +5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.22% | 0.75% | +4.47% |
GOVT vs. VUSXX - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is lower than VUSXX's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVT vs. VUSXX - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.58%, less than VUSXX's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
VUSXX Vanguard Treasury Money Market Fund | 3.89% | 4.15% | 1.63% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVT and VUSXX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVT has higher volatility (1.10%) compared to VUSXX (0.31%). In terms of maximum drawdown, GOVT dropped -19.07% vs VUSXX's 0.00%.
VUSXX currently has the higher Sharpe Ratio (3.68 vs 0.95), 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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