VGIT vs. SHV
VGIT (Vanguard Intermediate-Term Treasury ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both Government Bonds funds - VGIT tracks the Bloomberg U.S. Treasury 3-10 Year Index while SHV tracks the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, VGIT returned 1.23%/yr vs 2.23%/yr for SHV. At a 0.17 correlation, their price movements are largely independent. VGIT charges 0.03%/yr vs 0.15%/yr for SHV.
Performance
VGIT vs. SHV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VGIT achieves a -0.46% return, which is significantly lower than SHV's 1.42% return. Over the past 10 years, VGIT has underperformed SHV with an annualized return of 1.23%, while SHV has yielded a comparatively higher 2.23% annualized return.
VGIT
- 1D
- -0.19%
- 1M
- -0.16%
- YTD
- -0.46%
- 6M
- -0.60%
- 1Y
- 3.54%
- 3Y*
- 3.40%
- 5Y*
- 0.05%
- 10Y*
- 1.23%
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
VGIT vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGIT Vanguard Intermediate-Term Treasury ETF | -0.46% | 7.34% | 1.39% | 4.28% | -10.53% | -2.64% | 7.71% | 6.19% | 1.35% | 1.70% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between VGIT and SHV is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.17 |
The correlation between VGIT and SHV shifts across timeframes, from 0.17 (all time) to 0.32 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VGIT vs. SHV — Risk / Return Rank
VGIT
SHV
VGIT vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Treasury ETF (VGIT) and iShares 0-1 Year Treasury Bond ETF (SHV). 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.
| VGIT | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.44 | ||
| Sortino ratioReturn per unit of downside risk | -147.95 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 53.77 | -52.58 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 431.38 | -430.13 |
| Martin ratioReturn relative to average drawdown | 3.75 | 2,419.80 | -2,416.04 |
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 charts...
Sharpe Ratios by Period
| VGIT | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 19.49 | -18.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 11.56 | -11.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 8.09 | -7.81 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 4.50 | -4.00 |
Drawdowns
VGIT vs. SHV - Drawdown Comparison
The maximum VGIT drawdown since its inception was -16.05%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for VGIT and SHV.
Loading charts...
Drawdown Indicators
| VGIT | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.05% | -0.45% | -15.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.01% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -0.03% | -4.31% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | -0.40% | -14.62% |
Max Drawdown (10Y)Largest decline over 10 years | -16.05% | -0.45% | -15.60% |
Current DrawdownCurrent decline from peak | -2.39% | 0.00% | -2.39% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -0.03% | -3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.00% | +0.94% |
Volatility
VGIT vs. SHV - Volatility Comparison
Vanguard Intermediate-Term Treasury ETF (VGIT) has a higher volatility of 1.05% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that VGIT's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VGIT | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.05% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 0.12% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 0.20% | +3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.38% | 0.29% | +5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.50% | 0.28% | +4.22% |
VGIT vs. SHV - Expense Ratio Comparison
VGIT has a 0.03% expense ratio, which is lower than SHV's 0.15% 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
VGIT vs. SHV - Dividend Comparison
VGIT's dividend yield for the trailing twelve months is around 3.87%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.87% | 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
VGIT and SHV have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGIT has higher volatility (1.05%) compared to SHV (0.05%). In terms of maximum drawdown, VGIT dropped -16.05% vs SHV's -0.45%.
On 10-year performance, SHV leads with 2.23% vs 1.23% for VGIT. On fees, VGIT is cheaper at 0.03% per year. On volatility, SHV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SHV has performed better with a 2.23% return vs 1.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGIT is cheaper with a 0.03% expense ratio, compared with 0.15% for SHV.
VGIT has the higher dividend yield at 3.87%, compared with 3.83% for SHV.
VGIT tracks Bloomberg U.S. Treasury 3-10 Year Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VGIT and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 1.05), 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.
Find the right allocation for VGIT and SHV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer