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IVE vs. VGSH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVE vs. VGSH

Last updated Jun 6, 2026

IVE (iShares S&P 500 Value ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - IVE is a Large Cap Value Equities fund tracking the S&P 500 Value Index, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, IVE returned 11.62%/yr vs 1.72%/yr for VGSH. At a correlation of -0.15, they often move in opposite directions. IVE charges 0.18%/yr vs 0.03%/yr for VGSH.

Performance

IVE vs. VGSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Value ETF (IVE) and Vanguard Short-Term Treasury ETF (VGSH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IVE achieves a 7.22% return, which is significantly higher than VGSH's 0.36% return. Over the past 10 years, IVE has outperformed VGSH with an annualized return of 11.62%, while VGSH has yielded a comparatively lower 1.72% annualized return.

IVE

1D
-1.15%
1M
0.79%
YTD
7.22%
6M
7.77%
1Y
21.32%
3Y*
15.38%
5Y*
10.49%
10Y*
11.62%

VGSH

1D
-0.17%
1M
-0.22%
YTD
0.36%
6M
0.74%
1Y
3.24%
3Y*
4.11%
5Y*
1.79%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVE vs. VGSH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVE
iShares S&P 500 Value ETF		7.22%13.02%12.03%22.07%-5.41%24.72%1.22%31.62%-9.22%15.24%
VGSH
Vanguard Short-Term Treasury ETF		0.36%5.07%4.00%4.31%-3.86%-0.60%3.04%3.52%1.55%0.04%

Correlation

The correlation between IVE and VGSH is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.17

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.07

Correlation (10Y)
Calculated over the trailing 10-year period

-0.10

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2009

-0.15

The correlation between IVE and VGSH shifts across timeframes, from -0.15 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 Value ETF

Vanguard Short-Term Treasury ETF

Often compared with IVE:
IVE vs. IVWIVE vs. IVVIVE vs. SPYIVE vs. VTVIVE vs. QQQIVE vs. VOOIVE vs. VOOV
Often compared with VGSH:
VGSH vs. sgovVGSH vs. SHVVGSH vs. SHYVGSH vs. SGOVVGSH vs. BNDVGSH vs. VTIPVGSH vs. VCSH

Return for Risk

IVE vs. VGSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVE
IVE Risk / Return Rank: 6969
Overall Rank
IVE Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
IVE Sortino Ratio Rank: 6767
Sortino Ratio Rank
IVE Omega Ratio Rank: 6666
Omega Ratio Rank
IVE Calmar Ratio Rank: 7171
Calmar Ratio Rank
IVE Martin Ratio Rank: 7272
Martin Ratio Rank
VGSH
VGSH Risk / Return Rank: 8282
Overall Rank
VGSH Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
VGSH Sortino Ratio Rank: 9090
Sortino Ratio Rank
VGSH Omega Ratio Rank: 8787
Omega Ratio Rank
VGSH Calmar Ratio Rank: 7474
Calmar Ratio Rank
VGSH Martin Ratio Rank: 7777
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IVE vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Value ETF (IVE) 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.

IVEVGSHDifference
Sharpe ratioReturn per unit of total volatility
2.17
2.53

-0.36

Sortino ratioReturn per unit of downside risk
3.01
4.11

-1.10

Omega ratioGain probability vs. loss probability

1.39

1.53

-0.14

Calmar ratioReturn relative to maximum drawdown

3.46

3.68

-0.22

Martin ratioReturn relative to average drawdown

13.19

14.60

-1.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVE vs. VGSH - Sharpe Ratio Comparison

The current IVE Sharpe Ratio is 2.17, which is comparable to the VGSH Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IVE and VGSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IVEVGSHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

2.53

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.91

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

1.10

-0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

1.01

-0.61

Drawdowns

IVE vs. VGSH - Drawdown Comparison

The maximum IVE drawdown since its inception was -61.32%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for IVE and VGSH.

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Drawdown Indicators

IVEVGSHDifference

Max Drawdown

Largest peak-to-trough decline

-61.32%

-5.70%

-55.62%

Max Drawdown (1Y)

Largest decline over 1 year

-6.19%

-0.88%

-5.31%

Max Drawdown (3Y)

Largest decline over 3 years

-17.58%

-0.97%

-16.61%

Max Drawdown (5Y)

Largest decline over 5 years

-18.04%

-5.66%

-12.38%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-5.70%

-31.34%

Current Drawdown

Current decline from peak

-1.15%

-0.41%

-0.74%

Average Drawdown

Average peak-to-trough decline

-10.10%

-0.60%

-9.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.62%

0.22%

+1.40%

Volatility

IVE vs. VGSH - Volatility Comparison

iShares S&P 500 Value ETF (IVE) has a higher volatility of 2.39% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.36%. This indicates that IVE'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

IVEVGSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.39%

0.36%

+2.03%

Volatility (6M)

Calculated over the trailing 6-month period

7.17%

0.90%

+6.27%

Volatility (1Y)

Calculated over the trailing 1-year period

9.88%

1.29%

+8.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.41%

1.97%

+12.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.96%

1.58%

+15.38%

IVE vs. VGSH - Expense Ratio Comparison

IVE has a 0.18% 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

IVE vs. VGSH - Dividend Comparison

IVE's dividend yield for the trailing twelve months is around 1.52%, less than VGSH's 3.88% yield.

PositionTTM20252024202320222021202020192018201720162015
IVE
iShares S&P 500 Value ETF		1.52%1.61%2.04%1.65%2.10%1.81%2.37%2.11%2.74%2.12%2.26%2.44%
VGSH
Vanguard Short-Term Treasury ETF		3.88%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

IVE and VGSH have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVE has higher volatility (2.39%) compared to VGSH (0.36%). In terms of maximum drawdown, IVE dropped -61.32% vs VGSH's -5.70%.

On 10-year performance, IVE leads with 11.62% vs 1.72% for VGSH. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVE has performed better with a 11.62% return vs 1.72%. 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 0.18% for IVE.

VGSH has the higher dividend yield at 3.88%, compared with 1.52% for IVE.

IVE is categorized as Large Cap Value Equities, while VGSH is Government Bonds. IVE tracks S&P 500 Value 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: 0.18% for IVE and 0.03% for VGSH.

VGSH currently has the higher Sharpe Ratio (2.53 vs 2.17), 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.

Portfolio Optimizer

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