TI5A.AS vs. VGSH

Last updated Jul 18, 2026

TI5A.AS (iShares USD TIPS 0-5 UCITS ETF USD Accumulating) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - TI5A.AS is a Inflation-Protected Bonds fund tracking the ICE US Treasury Inflation-Linked Bond 0-5 Years, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, TI5A.AS returned 5.15%/yr vs 4.25%/yr for VGSH. At a 0.37 correlation, their price movements are largely independent. TI5A.AS charges 0.10%/yr vs 0.03%/yr for VGSH.

Performance

TI5A.AS vs. VGSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD TIPS 0-5 UCITS ETF USD Accumulating (TI5A.AS) 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, TI5A.AS achieves a 1.96% return, which is significantly higher than VGSH's 0.83% return.

TI5A.AS

• 1D: 0.07%
• 1M: 0.07%
• 6M: 1.80%
• YTD: 1.96%
• 1Y: 3.55%
• 3Y*: 5.15%
• 5Y*: —
• 10Y*: —

VGSH

• 1D: 0.00%
• 1M: 0.44%
• 6M: 0.85%
• YTD: 0.83%
• 1Y: 3.25%
• 3Y*: 4.25%
• 5Y*: 1.90%
• 10Y*: 1.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TI5A.AS vs. VGSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TI5A.AS iShares USD TIPS 0-5 UCITS ETF USD Accumulating	1.96%	5.25%	5.59%	4.42%	-1.60%
VGSH Vanguard Short-Term Treasury ETF	0.83%	5.07%	4.00%	4.31%	-0.69%

Correlation

The correlation between TI5A.AS 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	0.37
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022	0.37

The correlation between TI5A.AS and VGSH shifts across timeframes, from 0.25 (1 year) to 0.37 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TI5A.AS vs. VGSH — Risk / Return Rank

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

TI5A.AS

TI5A.AS Risk / Return Rank: 76
TI5A.AS Sharpe Ratio Rank: 64
TI5A.AS Sortino Ratio Rank: 66
TI5A.AS Omega Ratio Rank: 76
TI5A.AS Calmar Ratio Rank: 88
TI5A.AS Martin Ratio Rank: 86

VGSH

VGSH Risk / Return Rank: 90
VGSH Sharpe Ratio Rank: 91
VGSH Sortino Ratio Rank: 94
VGSH Omega Ratio Rank: 93
VGSH Calmar Ratio Rank: 84
VGSH Martin Ratio Rank: 87

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.

TI5A.AS vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD TIPS 0-5 UCITS ETF USD Accumulating (TI5A.AS) 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.

	TI5A.AS	VGSH	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.48	-0.89
Sortino ratio: Return per unit of downside risk	2.31	3.94	-1.62
Omega ratio: Gain probability vs. loss probability	1.34	1.52	-0.18
Calmar ratio: Return relative to maximum drawdown	3.85	3.69	+0.16
Martin ratio: Return relative to average drawdown	13.49	14.24	-0.75

TI5A.AS vs. VGSH - Sharpe Ratio Comparison

The current TI5A.AS Sharpe Ratio is 1.58, which is lower than the VGSH Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of TI5A.AS 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.

Drawdowns

TI5A.AS vs. VGSH - Drawdown Comparison

The maximum TI5A.AS drawdown since its inception was -4.17%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for TI5A.AS and VGSH.

Drawdown Indicators

	TI5A.AS	VGSH	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-5.70%	+1.53%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	-0.88%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-1.28%	-0.97%	-0.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.70%	—
Current Drawdown Current decline from peak	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.59%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.23%	+0.03%

Volatility

TI5A.AS vs. VGSH - Volatility Comparison

The current volatility for iShares USD TIPS 0-5 UCITS ETF USD Accumulating (TI5A.AS) is 0.32%, while Vanguard Short-Term Treasury ETF (VGSH) has a volatility of 0.49%. This indicates that TI5A.AS experiences smaller price fluctuations and is considered to be less risky than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TI5A.AS	VGSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	0.49%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	1.76%	1.00%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	2.22%	1.32%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.04%	1.98%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.04%	1.58%	+1.46%

TI5A.AS vs. VGSH - Expense Ratio Comparison

TI5A.AS has a 0.10% 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

TI5A.AS vs. VGSH - Dividend Comparison

TI5A.AS has not paid dividends to shareholders, while VGSH's dividend yield for the trailing twelve months is around 3.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TI5A.AS iShares USD TIPS 0-5 UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VGSH Vanguard Short-Term Treasury ETF	3.84%	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 TI5A.AS and VGSH in my portfolio?

TI5A.AS 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.

Which ETF is better, TI5A.AS or VGSH?

On fees, VGSH is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TI5A.AS or VGSH?

VGSH is cheaper with a 0.03% expense ratio, compared with 0.10% for TI5A.AS.

What is the main difference between TI5A.AS and VGSH?

TI5A.AS is categorized as Inflation-Protected Bonds, while VGSH is Government Bonds. TI5A.AS tracks ICE US Treasury Inflation-Linked Bond 0-5 Years, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for TI5A.AS and 0.03% for VGSH.