UTWO vs. VGSH
Compare and contrast key facts about US Treasury 2 Year Note ETF (UTWO) and Vanguard Short-Term Treasury ETF (VGSH).
UTWO and VGSH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UTWO is a passively managed fund by US Benchmark Series that tracks the performance of the ICE BofA Current 2 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 UTWO 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
UTWO vs. VGSH - Performance Comparison
Loading graphics...
UTWO vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UTWO US Treasury 2 Year Note ETF | 0.25% | 4.79% | 3.71% | 3.45% | -0.81% |
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, UTWO achieves a 0.25% return, which is significantly lower than VGSH's 0.28% return.
UTWO
- 1D
- 0.10%
- 1M
- -0.46%
- YTD
- 0.25%
- 6M
- 1.36%
- 1Y
- 3.47%
- 3Y*
- 3.60%
- 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%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
UTWO vs. VGSH - Expense Ratio Comparison
UTWO 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
UTWO vs. VGSH — Risk / Return Rank
UTWO
VGSH
UTWO vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 2 Year Note ETF (UTWO) 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.
| UTWO | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.31 | 2.62 | -0.31 |
Sortino ratioReturn per unit of downside risk | 3.69 | 4.21 | -0.53 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.57 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 3.92 | 4.26 | -0.33 |
Martin ratioReturn relative to average drawdown | 13.93 | 16.28 | -2.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| UTWO | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.62 | -0.31 |
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 | 1.49 | 1.02 | +0.47 |
Correlation
The correlation between UTWO and VGSH is 0.97, 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
UTWO vs. VGSH - Dividend Comparison
UTWO's dividend yield for the trailing twelve months is around 3.81%, less than VGSH's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTWO US Treasury 2 Year Note ETF | 3.81% | 3.63% | 4.22% | 4.39% | 1.22% | 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
UTWO vs. VGSH - Drawdown Comparison
The maximum UTWO drawdown since its inception was -2.04%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for UTWO and VGSH.
Loading graphics...
Drawdown Indicators
| UTWO | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.04% | -5.70% | +3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -0.90% | -0.88% | -0.02% |
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 | -0.46% | -0.49% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -0.60% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.23% | +0.02% |
Volatility
UTWO vs. VGSH - Volatility Comparison
US Treasury 2 Year Note ETF (UTWO) and Vanguard Short-Term Treasury ETF (VGSH) have volatilities of 0.54% and 0.52%, 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.
Loading graphics...
Volatility by Period
| UTWO | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 0.52% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 0.84% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 1.44% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 1.96% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.10% | 1.57% | +0.53% |