VGSH vs. VMVLX
Compare and contrast key facts about Vanguard Short-Term Treasury ETF (VGSH) and Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX).
VGSH is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury 1-3 Year Index. It was launched on Nov 19, 2009. VMVLX is managed by Vanguard. It was launched on Mar 5, 2008.
Performance
VGSH vs. VMVLX - Performance Comparison
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Returns By Period
In the year-to-date period, VGSH achieves a 0.34% return, which is significantly lower than VMVLX's 3.65% return. Over the past 10 years, VGSH has underperformed VMVLX with an annualized return of 1.74%, while VMVLX has yielded a comparatively higher 12.07% annualized return.
VGSH
- 1D
- 0.09%
- 1M
- -0.11%
- YTD
- 0.34%
- 6M
- 1.33%
- 1Y
- 3.34%
- 3Y*
- 3.98%
- 5Y*
- 1.80%
- 10Y*
- 1.74%
VMVLX
- 1D
- 0.11%
- 1M
- -2.14%
- YTD
- 3.65%
- 6M
- 6.31%
- 1Y
- 27.07%
- 3Y*
- 15.24%
- 5Y*
- 11.42%
- 10Y*
- 12.07%
VGSH vs. VMVLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 0.34% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 3.65% | 15.60% | 16.87% | 9.14% | -1.21% | 25.92% | 2.48% | 25.71% | -4.09% | 16.81% |
Correlation
The correlation between VGSH and VMVLX is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management — when one declines, the other has historically tended to hold steady or rise, cushioning overall portfolio drawdowns.
VGSH vs. VMVLX - Expense Ratio Comparison
VGSH has a 0.03% expense ratio, which is lower than VMVLX's 0.06% 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%.
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Return for Risk
VGSH vs. VMVLX — Risk / Return Rank
VGSH
VMVLX
VGSH vs. VMVLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) and Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX). 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 | VMVLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.67 | 1.06 | +1.61 |
Sortino ratioReturn per unit of downside risk | 4.30 | 1.51 | +2.78 |
Omega ratioGain probability vs. loss probability | 1.58 | 1.23 | +0.35 |
Calmar ratioReturn relative to maximum drawdown | 4.26 | 1.44 | +2.81 |
Martin ratioReturn relative to average drawdown | 16.01 | 6.20 | +9.81 |
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 | VMVLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.67 | 1.06 | +1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.85 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | 0.73 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.44 | +0.57 |
Drawdowns
VGSH vs. VMVLX - Drawdown Comparison
The maximum VGSH drawdown since its inception was -5.70%, smaller than the maximum VMVLX drawdown of -55.79%. Use the drawdown chart below to compare losses from any high point for VGSH and VMVLX.
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Drawdown Indicators
| VGSH | VMVLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.70% | -55.79% | +50.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -6.41% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -16.60% | +10.90% |
Max Drawdown (10Y)Largest decline over 10 years | -5.70% | -35.57% | +29.87% |
Current DrawdownCurrent decline from peak | -0.43% | -4.52% | +4.09% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -7.72% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 2.55% | -2.31% |
Volatility
VGSH vs. VMVLX - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury ETF (VGSH) is 0.52%, while Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) has a volatility of 3.54%. This indicates that VGSH experiences smaller price fluctuations and is considered to be less risky than VMVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSH | VMVLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 3.54% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.83% | 7.47% | -6.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 14.51% | -13.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 13.56% | -11.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 16.46% | -14.89% |
Dividends
VGSH vs. VMVLX - Dividend Comparison
VGSH's dividend yield for the trailing twelve months is around 3.92%, more than VMVLX's 2.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.92% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 2.06% | 2.05% | 2.32% | 2.49% | 2.46% | 2.18% | 2.47% | 2.70% | 2.66% | 2.36% | 1.90% | 2.62% |