IBIT vs. VGSH
IBIT (iShares Bitcoin Trust ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past year, IBIT returned -39.67% vs 3.36% for VGSH. At a correlation of -0.04, they often move in opposite directions. IBIT charges 0.25%/yr vs 0.03%/yr for VGSH.
Performance
IBIT vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -27.41% return, which is significantly lower than VGSH's 0.57% return.
IBIT
- 1D
- -0.03%
- 1M
- -21.94%
- YTD
- -27.41%
- 6M
- -29.61%
- 1Y
- -39.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- -0.03%
- 1M
- 0.16%
- YTD
- 0.57%
- 6M
- 0.83%
- 1Y
- 3.36%
- 3Y*
- 4.25%
- 5Y*
- 1.83%
- 10Y*
- 1.73%
IBIT vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -27.41% | -6.41% | 89.87% |
VGSH Vanguard Short-Term Treasury ETF | 0.57% | 5.07% | 4.11% |
Correlation
The correlation between IBIT and VGSH is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.04 |
The correlation between IBIT and VGSH shifts across timeframes, from -0.04 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBIT vs. VGSH — Risk / Return Rank
IBIT
VGSH
IBIT vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBIT | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.54 | ||
| Sortino ratioReturn per unit of downside risk | -5.61 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.55 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.76 | -4.54 |
| Martin ratioReturn relative to average drawdown | -1.37 | 14.67 | -16.04 |
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Drawdowns
IBIT vs. VGSH - Drawdown Comparison
The maximum IBIT drawdown since its inception was -52.11%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for IBIT and VGSH.
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Drawdown Indicators
| IBIT | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.11% | -5.70% | -46.41% |
Max Drawdown (1Y)Largest decline over 1 year | -52.11% | -0.88% | -51.23% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.97% | — |
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 | -49.45% | -0.21% | -49.24% |
Average DrawdownAverage peak-to-trough decline | -16.53% | -0.60% | -15.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.64% | 0.23% | +29.41% |
Volatility
IBIT vs. VGSH - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 12.07% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.37%. This indicates that IBIT'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
| IBIT | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.07% | 0.37% | +11.70% |
Volatility (6M)Calculated over the trailing 6-month period | 34.45% | 0.90% | +33.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.10% | 1.28% | +42.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.26% | 1.97% | +48.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.26% | 1.58% | +48.68% |
IBIT vs. VGSH - Expense Ratio Comparison
IBIT has a 0.25% 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
IBIT vs. VGSH - Dividend Comparison
IBIT has not paid dividends to shareholders, while VGSH's dividend yield for the trailing twelve months is around 3.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 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
IBIT and VGSH have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (12.07%) compared to VGSH (0.37%). In terms of maximum drawdown, IBIT dropped -52.11% vs VGSH's -5.70%.
On 1-year performance, VGSH leads with 3.36% vs -39.67% for IBIT. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VGSH has performed better with a 3.36% return vs -39.67%. 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 0.25% for IBIT.
VGSH has the higher dividend yield at 3.87%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while VGSH is Government Bonds. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for IBIT and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.61 vs -0.92), 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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