ISHG vs. VOO
ISHG (iShares 1-3 Year International Treasury Bond ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, ISHG returned -0.20%/yr vs 15.16%/yr for VOO. At a 0.16 correlation, their price movements are largely independent. ISHG charges 0.35%/yr vs 0.03%/yr for VOO.
Performance
ISHG vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -1.71% return, which is significantly lower than VOO's 10.45% return. Over the past 10 years, ISHG has underperformed VOO with an annualized return of -0.20%, while VOO has yielded a comparatively higher 15.16% annualized return.
ISHG
- 1D
- -0.50%
- 1M
- -1.54%
- 6M
- -1.40%
- YTD
- -1.71%
- 1Y
- -1.04%
- 3Y*
- 2.52%
- 5Y*
- -0.96%
- 10Y*
- -0.20%
VOO
- 1D
- -0.77%
- 1M
- 1.25%
- 6M
- 8.34%
- YTD
- 10.45%
- 1Y
- 21.53%
- 3Y*
- 20.16%
- 5Y*
- 13.01%
- 10Y*
- 15.16%
ISHG vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | -1.71% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
VOO Vanguard S&P 500 ETF | 10.45% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between ISHG and VOO is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.16 |
Over the past year, ISHG and VOO have become more correlated (0.43) than their long-term average of 0.16, meaning their price movements have been converging.
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Return for Risk
ISHG vs. VOO — Risk / Return Rank
ISHG
VOO
ISHG vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) and Vanguard S&P 500 ETF (VOO). 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.
| ISHG | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.31 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.43 | -2.64 |
| Martin ratioReturn relative to average drawdown | -0.45 | 10.60 | -11.05 |
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Drawdowns
ISHG vs. VOO - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ISHG and VOO.
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Drawdown Indicators
| ISHG | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -33.99% | -3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -8.90% | +3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -18.69% | +10.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.29% | -24.52% | +2.23% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -33.99% | +8.43% |
Current DrawdownCurrent decline from peak | -23.56% | -1.11% | -22.45% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -3.68% | -14.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 2.04% | +0.27% |
Volatility
ISHG vs. VOO - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.65%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.16%. This indicates that ISHG experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISHG | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 4.16% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 9.97% | -5.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 12.53% | -6.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 16.93% | -9.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.92% | 18.00% | -11.08% |
ISHG vs. VOO - Expense Ratio Comparison
ISHG has a 0.35% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
ISHG vs. VOO - Dividend Comparison
ISHG's dividend yield for the trailing twelve months is around 1.48%, more than VOO's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.48% | 1.45% | 2.56% | 0.18% | 0.00% | 1.29% | 0.00% | 0.00% | 1.80% | 0.46% | 0.00% | 0.09% |
VOO Vanguard S&P 500 ETF | 1.07% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
ISHG and VOO have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.16%) compared to ISHG (1.65%). In terms of maximum drawdown, ISHG dropped -37.24% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.16% vs -0.20% for ISHG. On fees, VOO is cheaper at 0.03% per year. On volatility, ISHG has been the lower-risk option at 1.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.16% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.35% for ISHG.
ISHG has the higher dividend yield at 1.48%, compared with 1.07% for VOO.
ISHG is categorized as International Government Bonds, while VOO is S&P 500. ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while VOO tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.35% for ISHG and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (1.73 vs -0.16), 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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