IEI vs. VIIGX
IEI (iShares 3-7 Year Treasury Bond ETF) and VIIGX (Vanguard Intermediate-Term Treasury Index Fund Institutional Shares) are both Government Bonds funds. Over the past 10 years, IEI returned 1.28%/yr vs 1.30%/yr for VIIGX. With a 0.98 correlation, they move nearly in lockstep. IEI charges 0.15%/yr vs 0.05%/yr for VIIGX.
Performance
IEI vs. VIIGX - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.42% return, which is significantly lower than VIIGX's -0.27% return. Both investments have delivered pretty close results over the past 10 years, with IEI having a 1.28% annualized return and VIIGX not far ahead at 1.30%.
IEI
- 1D
- -0.13%
- 1M
- -0.17%
- YTD
- -0.42%
- 6M
- -0.49%
- 1Y
- 3.28%
- 3Y*
- 3.52%
- 5Y*
- 0.23%
- 10Y*
- 1.28%
VIIGX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- -0.27%
- 6M
- -0.42%
- 1Y
- 3.74%
- 3Y*
- 3.58%
- 5Y*
- 0.20%
- 10Y*
- 1.30%
IEI vs. VIIGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.42% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
VIIGX Vanguard Intermediate-Term Treasury Index Fund Institutional Shares | -0.27% | 7.38% | 1.62% | 4.39% | -10.65% | -2.38% | 7.65% | 6.32% | 1.36% | 1.60% |
Correlation
The correlation between IEI and VIIGX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.98 |
The correlation between IEI and VIIGX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IEI vs. VIIGX — Risk / Return Rank
IEI
VIIGX
IEI vs. VIIGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) and Vanguard Intermediate-Term Treasury Index Fund Institutional Shares (VIIGX). 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.
| IEI | VIIGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.30 | +0.02 |
| Martin ratioReturn relative to average drawdown | 3.96 | 3.94 | +0.02 |
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
| IEI | VIIGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.08 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.04 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.29 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.50 | +0.20 |
Drawdowns
IEI vs. VIIGX - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, smaller than the maximum VIIGX drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for IEI and VIIGX.
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Drawdown Indicators
| IEI | VIIGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -15.96% | +1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.83% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -4.30% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -13.88% | -15.09% | +1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | -15.96% | +1.36% |
Current DrawdownCurrent decline from peak | -1.85% | -1.87% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -2.67% | -3.42% | +0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.93% | -0.10% |
Volatility
IEI vs. VIIGX - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 0.91%, while Vanguard Intermediate-Term Treasury Index Fund Institutional Shares (VIIGX) has a volatility of 1.10%. This indicates that IEI experiences smaller price fluctuations and is considered to be less risky than VIIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEI | VIIGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.10% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 2.40% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.04% | 3.42% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 5.34% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 4.45% | -0.52% |
IEI vs. VIIGX - Expense Ratio Comparison
IEI has a 0.15% expense ratio, which is higher than VIIGX's 0.05% 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
IEI vs. VIIGX - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.64%, less than VIIGX's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.64% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
VIIGX Vanguard Intermediate-Term Treasury Index Fund Institutional Shares | 3.85% | 3.78% | 3.97% | 2.71% | 1.73% | 1.91% | 2.23% | 2.23% | 2.07% | 1.68% | 1.64% | 1.72% |
Frequently Asked Questions
With a correlation of 0.99, IEI and VIIGX 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.
VIIGX has higher volatility (1.10%) compared to IEI (0.91%). In terms of maximum drawdown, IEI dropped -14.60% vs VIIGX's -15.96%.
IEI currently has the higher Sharpe Ratio (1.09 vs 1.08), 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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