NUSA vs. VGSH

Last updated Jun 5, 2026

NUSA (Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - NUSA is a Short-Term Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond (1-5 Y), while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, NUSA returned 1.53%/yr vs 1.79%/yr for VGSH. A 0.70 correlation means they provide meaningful diversification when combined. NUSA charges 0.15%/yr vs 0.03%/yr for VGSH.

Performance

NUSA vs. VGSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF (NUSA) and Vanguard Short-Term Treasury ETF (VGSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUSA achieves a 0.48% return, which is significantly higher than VGSH's 0.36% return.

NUSA

• 1D: 0.09%
• 1M: 0.22%
• YTD: 0.48%
• 6M: 0.72%
• 1Y: 3.56%
• 3Y*: 4.37%
• 5Y*: 1.53%
• 10Y*: —

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)

NUSA vs. VGSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUSA Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF	0.48%	5.89%	3.52%	5.19%	-5.91%	-1.04%	4.85%	5.62%	1.40%	1.00%
VGSH Vanguard Short-Term Treasury ETF	0.36%	5.07%	4.00%	4.31%	-3.86%	-0.60%	3.04%	3.52%	1.55%	0.07%

Correlation

The correlation between NUSA and VGSH is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 4, 2017	0.70

The correlation between NUSA and VGSH shifts across timeframes, from 0.70 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NUSA vs. VGSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NUSA

NUSA Risk / Return Rank: 62
NUSA Sharpe Ratio Rank: 60
NUSA Sortino Ratio Rank: 70
NUSA Omega Ratio Rank: 66
NUSA Calmar Ratio Rank: 57
NUSA Martin Ratio Rank: 57

VGSH

VGSH Risk / Return Rank: 82
VGSH Sharpe Ratio Rank: 80
VGSH Sortino Ratio Rank: 90
VGSH Omega Ratio Rank: 87
VGSH Calmar Ratio Rank: 74
VGSH Martin Ratio Rank: 77

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.

NUSA vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF (NUSA) 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.

	NUSA	VGSH	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.53	-0.55
Sortino ratio: Return per unit of downside risk	3.13	4.11	-0.99
Omega ratio: Gain probability vs. loss probability	1.39	1.53	-0.14
Calmar ratio: Return relative to maximum drawdown	2.79	3.68	-0.88
Martin ratio: Return relative to average drawdown	9.89	14.60	-4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUSA vs. VGSH - Sharpe Ratio Comparison

The current NUSA Sharpe Ratio is 1.98, which is comparable to the VGSH Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of NUSA 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.

Sharpe Ratios by Period

	NUSA	VGSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.53	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.91	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	1.01	-0.19

Drawdowns

NUSA vs. VGSH - Drawdown Comparison

The maximum NUSA drawdown since its inception was -9.44%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for NUSA and VGSH.

Drawdown Indicators

	NUSA	VGSH	Difference
Max Drawdown Largest peak-to-trough decline	-9.44%	-5.70%	-3.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.28%	-0.88%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-1.62%	-0.97%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-9.44%	-5.66%	-3.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-5.70%	—
Current Drawdown Current decline from peak	-0.46%	-0.41%	-0.05%
Average Drawdown Average peak-to-trough decline	-1.65%	-0.60%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.22%	+0.14%

Volatility

NUSA vs. VGSH - Volatility Comparison

Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF (NUSA) has a higher volatility of 0.66% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.36%. This indicates that NUSA'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.

Volatility by Period

	NUSA	VGSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	0.36%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	1.33%	0.90%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	1.82%	1.29%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.80%	1.97%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.72%	1.58%	+1.14%

NUSA vs. VGSH - Expense Ratio Comparison

NUSA has a 0.15% 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

NUSA vs. VGSH - Dividend Comparison

NUSA's dividend yield for the trailing twelve months is around 3.86%, which matches VGSH's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NUSA Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF	3.86%	3.83%	3.93%	3.54%	2.44%	2.16%	2.51%	2.85%	3.22%	2.20%	0.00%	0.00%
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

Can I hold both NUSA and VGSH in my portfolio?

NUSA and VGSH have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUSA or VGSH?

NUSA has higher volatility (0.66%) compared to VGSH (0.36%). In terms of maximum drawdown, NUSA dropped -9.44% vs VGSH's -5.70%.

Which ETF is better, NUSA or VGSH?

On 5-year performance, VGSH leads with 1.79% vs 1.53% for NUSA. 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.

Which ETF has performed better, NUSA or VGSH?

Over the 5-year period, VGSH has performed better with a 1.79% return vs 1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUSA or VGSH?

VGSH is cheaper with a 0.03% expense ratio, compared with 0.15% for NUSA.

Which ETF pays a higher dividend yield, NUSA or VGSH?

VGSH has the higher dividend yield at 3.88%, compared with 3.86% for NUSA.

What is the main difference between NUSA and VGSH?

NUSA is categorized as Short-Term Bond, while VGSH is Government Bonds. NUSA tracks ICE BofA Enhanced Yield US Broad Bond (1-5 Y), while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.15% for NUSA and 0.03% for VGSH.

Which has better risk-adjusted returns?

VGSH currently has the higher Sharpe Ratio (2.53 vs 1.98), 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.