SPTS vs. VGSH
SPTS (SPDR Portfolio Short Term Treasury ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both Government Bonds funds tracking the Bloomberg U.S. Treasury 1-3 Year Index, from State Street and Vanguard respectively. Both are passively managed. Over the past 10 years, SPTS returned 1.67%/yr vs 1.74%/yr for VGSH. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.
Performance
SPTS vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, SPTS achieves a 0.45% return, which is significantly lower than VGSH's 0.48% return. Both investments have delivered pretty close results over the past 10 years, with SPTS having a 1.67% annualized return and VGSH not far ahead at 1.74%.
SPTS
- 1D
- -0.07%
- 1M
- 0.05%
- YTD
- 0.45%
- 6M
- 0.77%
- 1Y
- 3.45%
- 3Y*
- 4.18%
- 5Y*
- 1.81%
- 10Y*
- 1.67%
VGSH
- 1D
- -0.03%
- 1M
- 0.08%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 3.43%
- 3Y*
- 4.15%
- 5Y*
- 1.81%
- 10Y*
- 1.74%
SPTS vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 0.45% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
VGSH Vanguard Short-Term Treasury ETF | 0.48% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between SPTS and VGSH is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2011 | 0.70 |
Over the past year, SPTS and VGSH have become more correlated (0.91) than their long-term average of 0.70, meaning their price movements have been converging.
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Return for Risk
SPTS vs. VGSH — Risk / Return Rank
SPTS
VGSH
SPTS vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Short Term Treasury ETF (SPTS) 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.
| SPTS | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.57 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 3.90 | +0.23 |
| Martin ratioReturn relative to average drawdown | 16.52 | 15.52 | +1.01 |
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
| SPTS | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 2.68 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.93 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | 1.11 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.01 | -0.52 |
Drawdowns
SPTS vs. VGSH - Drawdown Comparison
The maximum SPTS drawdown since its inception was -5.83%, roughly equal to the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for SPTS and VGSH.
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Drawdown Indicators
| SPTS | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.83% | -5.70% | -0.13% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -0.88% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -0.97% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -5.66% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -5.70% | -0.01% |
Current DrawdownCurrent decline from peak | -0.28% | -0.29% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -0.60% | -1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.22% | -0.01% |
Volatility
SPTS vs. VGSH - Volatility Comparison
SPDR Portfolio Short Term Treasury ETF (SPTS) and Vanguard Short-Term Treasury ETF (VGSH) have volatilities of 0.34% and 0.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPTS | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.34% | 0.35% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.88% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.32% | 1.29% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 1.97% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.72% | 1.57% | +0.15% |
SPTS vs. VGSH - Expense Ratio Comparison
Both SPTS and VGSH have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPTS vs. VGSH - Dividend Comparison
SPTS's dividend yield for the trailing twelve months is around 3.91%, more than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTS SPDR Portfolio Short Term Treasury ETF | 3.91% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
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
With a correlation of 0.91, SPTS and VGSH 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.
VGSH has higher volatility (0.35%) compared to SPTS (0.34%). In terms of maximum drawdown, SPTS dropped -5.83% vs VGSH's -5.70%.
On 10-year performance, VGSH leads with 1.74% vs 1.67% for SPTS. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VGSH has performed better with a 1.74% return vs 1.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS and VGSH have the same expense ratio: 0.03% per year.
SPTS has the higher dividend yield at 3.91%, compared with 3.87% for VGSH.
Both ETFs track Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: State Street and Vanguard.
VGSH currently has the higher Sharpe Ratio (2.68 vs 2.63), 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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