IBTI vs. VGSH
IBTI (iShares iBonds Dec 2028 Term Treasury ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both Government Bonds funds - IBTI tracks the ICE 2028 Maturity US Treasury Index while VGSH tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, IBTI returned 0.19%/yr vs 1.81%/yr for VGSH. Their correlation of 0.81 suggests significant overlap in exposure. IBTI charges 0.07%/yr vs 0.03%/yr for VGSH.
Performance
IBTI vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, IBTI achieves a 0.31% return, which is significantly lower than VGSH's 0.48% return.
IBTI
- 1D
- -0.05%
- 1M
- 0.05%
- YTD
- 0.31%
- 6M
- 0.52%
- 1Y
- 3.59%
- 3Y*
- 3.72%
- 5Y*
- 0.19%
- 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%
IBTI vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.31% | 6.15% | 2.52% | 4.65% | -11.32% | -3.50% | 3.65% |
VGSH Vanguard Short-Term Treasury ETF | 0.48% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 1.57% |
Correlation
The correlation between IBTI and VGSH is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.81 |
The correlation between IBTI and VGSH shifts across timeframes, from 0.81 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBTI vs. VGSH — Risk / Return Rank
IBTI
VGSH
IBTI vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Treasury ETF (IBTI) 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.
| IBTI | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.57 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 3.90 | -0.62 |
| Martin ratioReturn relative to average drawdown | 11.08 | 15.52 | -4.43 |
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
| IBTI | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 2.68 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.93 | -0.89 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 1.01 | -0.97 |
Drawdowns
IBTI vs. VGSH - Drawdown Comparison
The maximum IBTI drawdown since its inception was -18.45%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for IBTI and VGSH.
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Drawdown Indicators
| IBTI | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.45% | -5.70% | -12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -0.88% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -0.97% | -2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -5.66% | -10.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -3.91% | -0.29% | -3.62% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -0.60% | -7.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 0.22% | +0.10% |
Volatility
IBTI vs. VGSH - Volatility Comparison
iShares iBonds Dec 2028 Term Treasury ETF (IBTI) has a higher volatility of 0.37% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that IBTI'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
| IBTI | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.37% | 0.35% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 0.88% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.76% | 1.29% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 1.97% | +3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.17% | 1.57% | +3.60% |
IBTI vs. VGSH - Expense Ratio Comparison
IBTI has a 0.07% 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
IBTI vs. VGSH - Dividend Comparison
IBTI's dividend yield for the trailing twelve months is around 3.81%, less than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.81% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% | 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
With a correlation of 0.94, IBTI and VGSH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IBTI has higher volatility (0.37%) compared to VGSH (0.35%). In terms of maximum drawdown, IBTI dropped -18.45% vs VGSH's -5.70%.
On 5-year performance, VGSH leads with 1.81% vs 0.19% for IBTI. On fees, VGSH is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VGSH has performed better with a 1.81% return vs 0.19%. 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 0.07% for IBTI.
VGSH has the higher dividend yield at 3.87%, compared with 3.81% for IBTI.
IBTI tracks ICE 2028 Maturity US Treasury Index, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IBTI and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.68 vs 2.05), 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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