VEDTX vs. VFIRX

Last updated Aug 1, 2026

VEDTX (Vanguard Extended Duration Treasury Index Fund) and VFIRX (Vanguard Short-Term Treasury Fund Admiral Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VEDTX returned -4.58%/yr vs 1.67%/yr for VFIRX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. VEDTX charges 0.06%/yr vs 0.10%/yr for VFIRX.

Performance

VEDTX vs. VFIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEDTX achieves a -5.74% return, which is significantly lower than VFIRX's 0.46% return. Over the past 10 years, VEDTX has underperformed VFIRX with an annualized return of -4.58%, while VFIRX has yielded a comparatively higher 1.67% annualized return.

VEDTX

• 1D: -0.28%
• 1M: -5.85%
• 6M: -5.11%
• YTD: -5.74%
• 1Y: -5.04%
• 3Y*: -6.09%
• 5Y*: -12.52%
• 10Y*: -4.58%
• ALL TIME*: 2.10%

VFIRX

• 1D: 0.10%
• 1M: -0.20%
• 6M: 0.24%
• YTD: 0.46%
• 1Y: 2.28%
• 3Y*: 4.18%
• 5Y*: 1.56%
• 10Y*: 1.67%
• ALL TIME*: 2.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VEDTX Vanguard Extended Duration Treasury Index Fund	$0.00	$0.00	$0.00
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares	$0.00	$0.00	$0.00

VEDTX vs. VFIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEDTX Vanguard Extended Duration Treasury Index Fund	-5.74%	1.34%	-13.35%	2.15%	-39.40%	-6.52%	24.20%	19.16%	-3.50%	12.69%
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares	0.46%	5.47%	3.85%	3.66%	-4.61%	-0.80%	4.06%	3.71%	1.47%	0.40%

Correlation

The correlation between VEDTX and VFIRX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (10Y) Provides a long-term view across more market conditions.	0.53
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.55

The correlation between VEDTX and VFIRX has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.

Return for Risk

VEDTX vs. VFIRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VEDTX

VEDTX Risk / Return Rank: 3
VEDTX Sharpe Ratio Rank: 3
VEDTX Sortino Ratio Rank: 2
VEDTX Omega Ratio Rank: 3
VEDTX Calmar Ratio Rank: 2
VEDTX Martin Ratio Rank: 3

VFIRX

VFIRX Risk / Return Rank: 68
VFIRX Sharpe Ratio Rank: 66
VFIRX Sortino Ratio Rank: 77
VFIRX Omega Ratio Rank: 74
VFIRX Calmar Ratio Rank: 71
VFIRX Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VEDTX vs. VFIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury Index Fund (VEDTX) and Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX). 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.

	VEDTX	VFIRX	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	1.54	-1.77
Sortino ratio: Return per unit of downside risk	-0.23	2.61	-2.84
Omega ratio: Gain probability vs. loss probability	0.97	1.32	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.27	2.26	-2.52
Martin ratio: Return relative to average drawdown	-0.53	6.74	-7.27

VEDTX vs. VFIRX - Sharpe Ratio Comparison

The current VEDTX Sharpe Ratio is -0.23, which is lower than the VFIRX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of VEDTX and VFIRX, 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

VEDTX vs. VFIRX - Drawdown Comparison

The maximum VEDTX drawdown since its inception was -60.00%, which is greater than VFIRX's maximum drawdown of -6.73%. Use the drawdown chart below to compare losses from any high point for VEDTX and VFIRX.

Drawdown Indicators

	VEDTX	VFIRX	Difference
Max Drawdown Largest peak-to-trough decline	-60.00%	-6.73%	-53.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-1.40%	-11.01%
Max Drawdown (3Y) Largest decline over 3 years	-22.83%	-1.40%	-21.43%
Max Drawdown (5Y) Largest decline over 5 years	-55.15%	-6.64%	-48.51%
Max Drawdown (10Y) Largest decline over 10 years	-60.00%	-6.73%	-53.27%
Current Drawdown Current decline from peak	-56.66%	-0.54%	-56.12%
Average Drawdown Average peak-to-trough decline	-23.75%	-0.71%	-23.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.18%	0.47%	+5.71%

Volatility

VEDTX vs. VFIRX - Volatility Comparison

Vanguard Extended Duration Treasury Index Fund (VEDTX) has a higher volatility of 4.08% compared to Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX) at 0.47%. This indicates that VEDTX's price experiences larger fluctuations and is considered to be riskier than VFIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEDTX	VFIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	0.47%	+3.61%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	1.59%	+8.70%
Volatility (1Y) Calculated over the trailing 1-year period	14.18%	2.06%	+12.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.78%	2.69%	+19.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	2.13%	+17.91%

VEDTX vs. VFIRX - Expense Ratio Comparison

VEDTX has a 0.06% expense ratio, which is lower than VFIRX's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VEDTX vs. VFIRX - Dividend Comparison

VEDTX's dividend yield for the trailing twelve months is around 5.42%, more than VFIRX's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEDTX Vanguard Extended Duration Treasury Index Fund	5.42%	4.94%	4.68%	3.55%	3.30%	1.96%	5.56%	3.53%	2.94%	2.23%	5.34%	4.28%
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares	3.51%	3.99%	4.49%	4.07%	2.03%	0.60%	2.30%	2.49%	2.21%	1.25%	1.28%	0.93%

Frequently Asked Questions

Can I hold both VEDTX and VFIRX in my portfolio?

VEDTX and VFIRX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEDTX or VFIRX?

VEDTX has higher volatility (4.08%) compared to VFIRX (0.47%). In terms of maximum drawdown, VEDTX dropped -60.00% vs VFIRX's -6.73%.

Which has better risk-adjusted returns?

VFIRX currently has the higher Sharpe Ratio (1.54 vs -0.23), 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.