UTEN vs. VGSH
Compare and contrast key facts about US Treasury 10 Year Note ETF (UTEN) and Vanguard Short-Term Treasury ETF (VGSH).
UTEN and VGSH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTEN is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. It was launched on Aug 8, 2022. VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009. Both UTEN and VGSH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UTEN vs. VGSH - Performance Comparison
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UTEN vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | -0.06% | 7.82% | -1.67% | 3.18% | -7.79% |
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 4.31% | -0.69% |
Returns By Period
In the year-to-date period, UTEN achieves a -0.06% return, which is significantly lower than VGSH's 0.28% return.
UTEN
- 1D
- 0.27%
- 1M
- -2.43%
- YTD
- -0.06%
- 6M
- 0.86%
- 1Y
- 3.78%
- 3Y*
- 1.65%
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- 0.09%
- 1M
- -0.49%
- YTD
- 0.28%
- 6M
- 1.37%
- 1Y
- 3.75%
- 3Y*
- 3.98%
- 5Y*
- 1.79%
- 10Y*
- 1.74%
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UTEN vs. VGSH - Expense Ratio Comparison
UTEN 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%.
Return for Risk
UTEN vs. VGSH — Risk / Return Rank
UTEN
VGSH
UTEN vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) 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.
| UTEN | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 2.62 | -1.98 |
Sortino ratioReturn per unit of downside risk | 0.95 | 4.21 | -3.27 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.57 | -0.46 |
Calmar ratioReturn relative to maximum drawdown | 1.04 | 4.26 | -3.22 |
Martin ratioReturn relative to average drawdown | 2.63 | 16.28 | -13.65 |
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
| UTEN | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 2.62 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.92 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 1.02 | -0.99 |
Correlation
The correlation between UTEN and VGSH is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
UTEN vs. VGSH - Dividend Comparison
UTEN's dividend yield for the trailing twelve months is around 4.44%, more than VGSH's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | 4.44% | 4.11% | 4.13% | 3.62% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.95% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Drawdowns
UTEN vs. VGSH - Drawdown Comparison
The maximum UTEN drawdown since its inception was -13.36%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for UTEN and VGSH.
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Drawdown Indicators
| UTEN | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -5.70% | -7.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.87% | -0.88% | -2.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -2.43% | -0.49% | -1.94% |
Average DrawdownAverage peak-to-trough decline | -4.93% | -0.60% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.23% | +1.30% |
Volatility
UTEN vs. VGSH - Volatility Comparison
US Treasury 10 Year Note ETF (UTEN) has a higher volatility of 2.09% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.52%. This indicates that UTEN'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
| UTEN | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 0.52% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 0.84% | +2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 1.44% | +4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.17% | 1.96% | +6.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.17% | 1.57% | +6.60% |