O vs. VGSH
O (Realty Income Corporation) is a stock, while VGSH (Vanguard Short-Term Treasury ETF) is Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Over the past 10 years, O returned 4.89%/yr vs 1.73%/yr for VGSH. At a 0.11 correlation, their price movements are largely independent.
Performance
O vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, O achieves a 13.70% return, which is significantly higher than VGSH's 0.57% return. Over the past 10 years, O has outperformed VGSH with an annualized return of 4.89%, while VGSH has yielded a comparatively lower 1.73% annualized return.
O
- 1D
- 1.31%
- 1M
- 3.07%
- YTD
- 13.70%
- 6M
- 11.57%
- 1Y
- 14.88%
- 3Y*
- 6.59%
- 5Y*
- 3.49%
- 10Y*
- 4.89%
VGSH
- 1D
- -0.03%
- 1M
- 0.28%
- YTD
- 0.57%
- 6M
- 0.83%
- 1Y
- 3.36%
- 3Y*
- 4.25%
- 5Y*
- 1.83%
- 10Y*
- 1.73%
O vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 13.70% | 12.20% | -2.11% | -4.55% | -7.38% | 23.95% | -11.60% | 21.27% | 15.94% | 3.67% |
VGSH Vanguard Short-Term Treasury ETF | 0.57% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between O and VGSH is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.11 |
The correlation between O and VGSH shifts across timeframes, from 0.11 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
O vs. VGSH — Risk / Return Rank
O
VGSH
O vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Realty Income Corporation (O) 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.
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.
| O | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.55 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 3.76 | -2.47 |
| Martin ratioReturn relative to average drawdown | 3.12 | 14.67 | -11.55 |
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Drawdowns
O vs. VGSH - Drawdown Comparison
The maximum O drawdown since its inception was -48.45%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for O and VGSH.
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Drawdown Indicators
| O | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.45% | -5.70% | -42.75% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -0.88% | -10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -26.49% | -0.97% | -25.52% |
Max Drawdown (5Y)Largest decline over 5 years | -34.48% | -5.66% | -28.82% |
Max Drawdown (10Y)Largest decline over 10 years | -48.28% | -5.70% | -42.58% |
Current DrawdownCurrent decline from peak | -5.94% | -0.21% | -5.73% |
Average DrawdownAverage peak-to-trough decline | -9.20% | -0.60% | -8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.58% | 0.23% | +4.35% |
Volatility
O vs. VGSH - Volatility Comparison
Realty Income Corporation (O) has a higher volatility of 5.29% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.37%. This indicates that O'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
| O | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 0.37% | +4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 11.98% | 0.90% | +11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 1.28% | +14.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 1.97% | +16.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.64% | 1.58% | +24.06% |
Dividends
O vs. VGSH - Dividend Comparison
O's dividend yield for the trailing twelve months is around 5.16%, more than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
O Realty Income Corporation | 5.16% | 6.19% | 5.37% | 5.33% | 4.68% | 3.87% | 4.51% | 3.69% | 4.19% | 4.45% | 4.18% | 4.41% |
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
O and VGSH have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
O has higher volatility (5.29%) compared to VGSH (0.37%). In terms of maximum drawdown, O dropped -48.45% vs VGSH's -5.70%.
VGSH currently has the higher Sharpe Ratio (2.61 vs 0.88), 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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