VGSH vs. VFV.TO
VGSH (Vanguard Short-Term Treasury ETF) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VGSH returned 1.71%/yr vs 14.98%/yr for VFV.TO. At a correlation of -0.14, they often move in opposite directions. VGSH charges 0.03%/yr vs 0.09%/yr for VFV.TO.
Performance
VGSH vs. VFV.TO - Performance Comparison
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Different Trading Currencies
VGSH is traded in USD, while VFV.TO is traded in CAD. To make them comparable, the VFV.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VGSH achieves a 0.36% return, which is significantly lower than VFV.TO's 8.51% return. Over the past 10 years, VGSH has underperformed VFV.TO with an annualized return of 1.71%, while VFV.TO has yielded a comparatively higher 14.98% annualized return.
VGSH
- 1D
- 0.00%
- 1M
- -0.20%
- YTD
- 0.36%
- 6M
- 0.76%
- 1Y
- 3.41%
- 3Y*
- 4.14%
- 5Y*
- 1.79%
- 10Y*
- 1.71%
VFV.TO
- 1D
- 0.11%
- 1M
- 0.25%
- YTD
- 8.51%
- 6M
- 8.63%
- 1Y
- 24.44%
- 3Y*
- 21.24%
- 5Y*
- 13.20%
- 10Y*
- 14.98%
VGSH vs. VFV.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 0.36% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
VFV.TO Vanguard S&P 500 Index ETF | 8.51% | 17.55% | 24.68% | 26.24% | -17.79% | 27.57% | 18.42% | 30.52% | -5.03% | 21.94% |
Correlation
The correlation between VGSH and VFV.TO is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2012 | -0.14 |
The correlation between VGSH and VFV.TO shifts across timeframes, from -0.14 (all time) to 0.00 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VGSH vs. VFV.TO — Risk / Return Rank
VGSH
VFV.TO
VGSH vs. VFV.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) and Vanguard S&P 500 Index ETF (VFV.TO). 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.
| VGSH | VFV.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.36 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 2.71 | +1.16 |
| Martin ratioReturn relative to average drawdown | 15.29 | 12.01 | +3.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGSH | VFV.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 1.95 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.83 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.09 | 0.85 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.87 | +0.14 |
Drawdowns
VGSH vs. VFV.TO - Drawdown Comparison
The maximum VGSH drawdown since its inception was -5.70%, smaller than the maximum VFV.TO drawdown of -33.56%. Use the drawdown chart below to compare losses from any high point for VGSH and VFV.TO.
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Drawdown Indicators
| VGSH | VFV.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.70% | -33.56% | +27.86% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -9.04% | +8.16% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -18.94% | +17.97% |
Max Drawdown (5Y)Largest decline over 5 years | -5.66% | -24.33% | +18.67% |
Max Drawdown (10Y)Largest decline over 10 years | -5.70% | -33.56% | +27.86% |
Current DrawdownCurrent decline from peak | -0.41% | -2.69% | +2.28% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -3.86% | +3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 2.04% | -1.82% |
Volatility
VGSH vs. VFV.TO - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury ETF (VGSH) is 0.35%, while Vanguard S&P 500 Index ETF (VFV.TO) has a volatility of 3.80%. This indicates that VGSH experiences smaller price fluctuations and is considered to be less risky than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSH | VFV.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 3.80% | -3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 0.89% | 9.46% | -8.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 12.59% | -11.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.97% | 16.07% | -14.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 17.73% | -16.15% |
VGSH vs. VFV.TO - Expense Ratio Comparison
VGSH has a 0.03% expense ratio, which is lower than VFV.TO's 0.09% 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
VGSH vs. VFV.TO - Dividend Comparison
VGSH's dividend yield for the trailing twelve months is around 3.88%, more than VFV.TO's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFV.TO Vanguard S&P 500 Index ETF | 0.85% | 0.92% | 0.99% | 1.20% | 1.31% | 1.06% | 1.33% | 1.55% | 1.69% | 1.51% | 1.65% | 1.63% |
VGSH Vanguard Short-Term Treasury ETF | 3.88% | 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 VFV.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGSH is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.09% for VFV.TO.
VGSH is categorized as Government Bonds, while VFV.TO is S&P 500. VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index, while VFV.TO tracks S&P 500 Index. Their fees differ too: 0.03% for VGSH and 0.09% for VFV.TO.
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