VGIT vs. HSGFX

Last updated Jun 14, 2026

VGIT (Vanguard Intermediate-Term Treasury ETF) and HSGFX (Hussman Strategic Growth Fund) are both funds - VGIT is a Government Bonds fund tracking the Bloomberg U.S. Treasury 3-10 Year Index, while HSGFX is a Long-Short fund managed by Hussman Funds. Over the past 10 years, VGIT returned 1.20%/yr vs -2.67%/yr for HSGFX. At a 0.18 correlation, their price movements are largely independent. VGIT charges 0.03%/yr vs 1.15%/yr for HSGFX.

Performance

VGIT vs. HSGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Treasury ETF (VGIT) and Hussman Strategic Growth Fund (HSGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGIT achieves a -0.29% return, which is significantly higher than HSGFX's -6.15% return. Over the past 10 years, VGIT has outperformed HSGFX with an annualized return of 1.20%, while HSGFX has yielded a comparatively lower -2.67% annualized return.

VGIT

• 1D: -0.12%
• 1M: 0.16%
• YTD: -0.29%
• 6M: 0.04%
• 1Y: 3.43%
• 3Y*: 3.69%
• 5Y*: 0.01%
• 10Y*: 1.20%

HSGFX

• 1D: -1.29%
• 1M: 4.50%
• YTD: -6.15%
• 6M: -7.07%
• 1Y: -14.76%
• 3Y*: -3.11%
• 5Y*: -2.88%
• 10Y*: -2.67%

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

VGIT vs. HSGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGIT Vanguard Intermediate-Term Treasury ETF	-0.29%	7.34%	1.39%	4.28%	-10.53%	-2.64%	7.71%	6.19%	1.35%	1.70%
HSGFX Hussman Strategic Growth Fund	-6.15%	6.24%	-6.99%	-11.60%	17.33%	-0.23%	14.52%	-18.87%	8.78%	-12.72%

Correlation

The correlation between VGIT and HSGFX is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009	0.18

The correlation between VGIT and HSGFX shifts across timeframes, from -0.06 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VGIT vs. HSGFX — Risk / Return Rank

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

VGIT

VGIT Risk / Return Rank: 28
VGIT Sharpe Ratio Rank: 30
VGIT Sortino Ratio Rank: 31
VGIT Omega Ratio Rank: 27
VGIT Calmar Ratio Rank: 26
VGIT Martin Ratio Rank: 26

HSGFX

HSGFX Risk / Return Rank: 0
HSGFX Sharpe Ratio Rank: 0
HSGFX Sortino Ratio Rank: 0
HSGFX Omega Ratio Rank: 0
HSGFX Calmar Ratio Rank: 0
HSGFX Martin Ratio Rank: 0

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.

VGIT vs. HSGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Treasury ETF (VGIT) and Hussman Strategic Growth Fund (HSGFX). 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.

	VGIT	HSGFX	Difference
Sharpe ratio: Return per unit of total volatility	0.96	-1.22	+2.18
Sortino ratio: Return per unit of downside risk	1.47	-1.82	+3.29
Omega ratio: Gain probability vs. loss probability	1.17	0.81	+0.35
Calmar ratio: Return relative to maximum drawdown	1.13	-0.79	+1.92
Martin ratio: Return relative to average drawdown	3.18	-1.58	+4.76

VGIT vs. HSGFX - Sharpe Ratio Comparison

The current VGIT Sharpe Ratio is 0.96, which is higher than the HSGFX Sharpe Ratio of -1.22. The chart below compares the historical Sharpe Ratios of VGIT and HSGFX, 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

VGIT vs. HSGFX - Drawdown Comparison

The maximum VGIT drawdown since its inception was -16.05%, smaller than the maximum HSGFX drawdown of -60.61%. Use the drawdown chart below to compare losses from any high point for VGIT and HSGFX.

Drawdown Indicators

	VGIT	HSGFX	Difference
Max Drawdown Largest peak-to-trough decline	-16.05%	-60.61%	+44.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-18.43%	+15.60%
Max Drawdown (3Y) Largest decline over 3 years	-4.34%	-24.22%	+19.88%
Max Drawdown (5Y) Largest decline over 5 years	-15.02%	-24.22%	+9.20%
Max Drawdown (10Y) Largest decline over 10 years	-16.05%	-33.41%	+17.36%
Current Drawdown Current decline from peak	-2.22%	-55.29%	+53.07%
Average Drawdown Average peak-to-trough decline	-3.52%	-26.88%	+23.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	9.18%	-8.17%

Volatility

VGIT vs. HSGFX - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Treasury ETF (VGIT) is 1.15%, while Hussman Strategic Growth Fund (HSGFX) has a volatility of 5.27%. This indicates that VGIT experiences smaller price fluctuations and is considered to be less risky than HSGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIT	HSGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	5.27%	-4.12%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	9.70%	-7.30%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	11.89%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	11.22%	-5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.50%	10.78%	-6.28%

VGIT vs. HSGFX - Expense Ratio Comparison

VGIT has a 0.03% expense ratio, which is lower than HSGFX's 1.15% expense ratio.

Dividends

VGIT vs. HSGFX - Dividend Comparison

VGIT's dividend yield for the trailing twelve months is around 3.86%, more than HSGFX's 2.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSGFX Hussman Strategic Growth Fund	2.48%	2.33%	3.00%	3.10%	1.08%	0.42%	0.16%	1.84%	1.19%	0.50%	0.28%	0.56%
VGIT Vanguard Intermediate-Term Treasury ETF	3.86%	3.79%	3.67%	2.73%	1.74%	1.69%	2.23%	2.24%	2.05%	1.67%	1.69%	1.69%

Frequently Asked Questions

Can I hold both VGIT and HSGFX in my portfolio?

VGIT and HSGFX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGIT or HSGFX?

HSGFX has higher volatility (5.27%) compared to VGIT (1.15%). In terms of maximum drawdown, VGIT dropped -16.05% vs HSGFX's -60.61%.

Which has better risk-adjusted returns?

VGIT currently has the higher Sharpe Ratio (0.96 vs -1.22), 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.