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VGSH vs. EFV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGSH vs. EFV

Last updated Jun 4, 2026

VGSH (Vanguard Short-Term Treasury ETF) and EFV (iShares MSCI EAFE Value ETF) are both exchange-traded funds - VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while EFV is a Foreign Large Cap Equities fund tracking the MSCI EAFE Value Index. Both are passively managed. Over the past 10 years, VGSH returned 1.74%/yr vs 9.75%/yr for EFV. At a correlation of -0.08, they often move in opposite directions. VGSH charges 0.03%/yr vs 0.39%/yr for EFV.

Performance

VGSH vs. EFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Treasury ETF (VGSH) and iShares MSCI EAFE Value ETF (EFV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VGSH achieves a 0.48% return, which is significantly lower than EFV's 9.13% return. Over the past 10 years, VGSH has underperformed EFV with an annualized return of 1.74%, while EFV has yielded a comparatively higher 9.75% annualized return.

VGSH

1D
-0.03%
1M
0.08%
YTD
0.48%
6M
0.74%
1Y
3.43%
3Y*
4.15%
5Y*
1.81%
10Y*
1.74%

EFV

1D
-0.78%
1M
2.26%
YTD
9.13%
6M
12.94%
1Y
27.83%
3Y*
21.99%
5Y*
12.07%
10Y*
9.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGSH vs. EFV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGSH
Vanguard Short-Term Treasury ETF		0.48%5.07%4.00%4.31%-3.86%-0.60%3.04%3.52%1.55%0.04%
EFV
iShares MSCI EAFE Value ETF		9.13%42.22%5.35%18.85%-5.22%11.08%-2.97%15.80%-14.67%21.22%

Correlation

The correlation between VGSH and EFV is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.22

Correlation (5Y)
Calculated over the trailing 5-year period

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

-0.03

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2009

-0.08

The correlation between VGSH and EFV shifts across timeframes, from -0.08 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Vanguard Short-Term Treasury ETF

iShares MSCI EAFE Value ETF

Often compared with VGSH:
VGSH vs. sgovVGSH vs. SHVVGSH vs. SHYVGSH vs. SGOVVGSH vs. BNDVGSH vs. VTIPVGSH vs. VCSH
Often compared with EFV:
EFV vs. VEAEFV vs. EFAVEFV vs. DFIVXEFV vs. FIVAEFV vs. VOOEFV vs. SCHFEFV vs. VTRIX

Return for Risk

VGSH vs. EFV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGSH
VGSH Risk / Return Rank: 8383
Overall Rank
VGSH Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
VGSH Sortino Ratio Rank: 9191
Sortino Ratio Rank
VGSH Omega Ratio Rank: 8888
Omega Ratio Rank
VGSH Calmar Ratio Rank: 7676
Calmar Ratio Rank
VGSH Martin Ratio Rank: 7878
Martin Ratio Rank
EFV
EFV Risk / Return Rank: 5555
Overall Rank
EFV Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
EFV Sortino Ratio Rank: 5656
Sortino Ratio Rank
EFV Omega Ratio Rank: 5757
Omega Ratio Rank
EFV Calmar Ratio Rank: 5151
Calmar Ratio Rank
EFV Martin Ratio Rank: 5555
Martin Ratio Rank
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.

VGSH vs. EFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) and iShares MSCI EAFE Value ETF (EFV). 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.

VGSHEFVDifference

Sharpe ratio

Return per unit of total volatility

2.68

1.97

+0.71

Sortino ratio

Return per unit of downside risk

4.43

2.73

+1.70

Omega ratio

Gain probability vs. loss probability

1.57

1.36

+0.21

Calmar ratio

Return relative to maximum drawdown

3.90

2.57

+1.33

Martin ratio

Return relative to average drawdown

15.52

9.57

+5.94

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGSH vs. EFV - Sharpe Ratio Comparison

The current VGSH Sharpe Ratio is 2.68, which is higher than the EFV Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of VGSH and EFV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VGSHEFVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.68

1.97

+0.71

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.93

0.76

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.11

0.55

+0.56

Sharpe Ratio (All Time)

Calculated using the full available price history

1.01

0.27

+0.75

Drawdowns

VGSH vs. EFV - Drawdown Comparison

The maximum VGSH drawdown since its inception was -5.70%, smaller than the maximum EFV drawdown of -63.94%. Use the drawdown chart below to compare losses from any high point for VGSH and EFV.

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Drawdown Indicators

VGSHEFVDifference

Max Drawdown

Largest peak-to-trough decline

-5.70%

-63.94%

+58.24%

Max Drawdown (1Y)

Largest decline over 1 year

-0.88%

-10.90%

+10.02%

Max Drawdown (3Y)

Largest decline over 3 years

-0.97%

-13.72%

+12.75%

Max Drawdown (5Y)

Largest decline over 5 years

-5.66%

-25.84%

+20.18%

Max Drawdown (10Y)

Largest decline over 10 years

-5.70%

-43.16%

+37.46%

Current Drawdown

Current decline from peak

-0.29%

-2.51%

+2.22%

Average Drawdown

Average peak-to-trough decline

-0.60%

-14.83%

+14.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.22%

2.91%

-2.69%

Volatility

VGSH vs. EFV - Volatility Comparison

The current volatility for Vanguard Short-Term Treasury ETF (VGSH) is 0.35%, while iShares MSCI EAFE Value ETF (EFV) has a volatility of 4.52%. This indicates that VGSH experiences smaller price fluctuations and is considered to be less risky than EFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGSHEFVDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.35%

4.52%

-4.17%

Volatility (6M)

Calculated over the trailing 6-month period

0.88%

11.56%

-10.68%

Volatility (1Y)

Calculated over the trailing 1-year period

1.29%

14.21%

-12.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.97%

15.96%

-13.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.57%

17.86%

-16.29%

VGSH vs. EFV - Expense Ratio Comparison

VGSH has a 0.03% expense ratio, which is lower than EFV's 0.39% expense ratio.

Dividends

VGSH vs. EFV - Dividend Comparison

VGSH's dividend yield for the trailing twelve months is around 3.87%, more than EFV's 3.81% yield.

PositionTTM20252024202320222021202020192018201720162015
EFV
iShares MSCI EAFE Value ETF		3.81%4.16%4.66%4.36%4.17%4.07%2.42%4.62%4.56%3.56%3.28%3.59%
VGSH
Vanguard Short-Term Treasury ETF		3.87%4.00%4.18%3.31%1.15%0.66%1.74%2.28%1.79%1.10%0.84%0.69%

Frequently Asked Questions

VGSH and EFV have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EFV has higher volatility (4.52%) compared to VGSH (0.35%). In terms of maximum drawdown, VGSH dropped -5.70% vs EFV's -63.94%.

On 10-year performance, EFV leads with 9.75% vs 1.74% for VGSH. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EFV has performed better with a 9.75% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGSH is cheaper with a 0.03% expense ratio, compared with 0.39% for EFV.

VGSH has the higher dividend yield at 3.87%, compared with 3.81% for EFV.

VGSH is categorized as Government Bonds, while EFV is Foreign Large Cap Equities. VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index, while EFV tracks MSCI EAFE Value Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VGSH and 0.39% for EFV.

VGSH currently has the higher Sharpe Ratio (2.68 vs 1.97), 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.

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