VGSH vs. VUSB
Compare and contrast key facts about Vanguard Short-Term Treasury ETF (VGSH) and Vanguard Ultra-Short Bond ETF (VUSB).
VGSH and VUSB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. VUSB is an actively managed fund by Vanguard. It was launched on Apr 5, 2021.
Performance
VGSH vs. VUSB - Performance Comparison
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VGSH vs. VUSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 4.31% | -3.86% | -0.56% |
VUSB Vanguard Ultra-Short Bond ETF | 0.59% | 5.20% | 5.68% | 5.52% | -0.36% | 0.00% |
Returns By Period
In the year-to-date period, VGSH achieves a 0.28% return, which is significantly lower than VUSB's 0.59% return.
VGSH
- 1D
- 0.09%
- 1M
- -0.49%
- YTD
- 0.28%
- 6M
- 1.37%
- 1Y
- 3.75%
- 3Y*
- 3.98%
- 5Y*
- 1.79%
- 10Y*
- 1.74%
VUSB
- 1D
- 0.09%
- 1M
- -0.12%
- YTD
- 0.59%
- 6M
- 1.76%
- 1Y
- 4.48%
- 3Y*
- 5.28%
- 5Y*
- —
- 10Y*
- —
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VGSH vs. VUSB - Expense Ratio Comparison
VGSH has a 0.03% expense ratio, which is lower than VUSB's 0.10% 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%.
Return for Risk
VGSH vs. VUSB — Risk / Return Rank
VGSH
VUSB
VGSH vs. VUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury ETF (VGSH) and Vanguard Ultra-Short Bond ETF (VUSB). 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 | VUSB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.62 | 5.84 | -3.22 |
Sortino ratioReturn per unit of downside risk | 4.21 | 9.33 | -5.11 |
Omega ratioGain probability vs. loss probability | 1.57 | 2.86 | -1.29 |
Calmar ratioReturn relative to maximum drawdown | 4.26 | 9.75 | -5.50 |
Martin ratioReturn relative to average drawdown | 16.28 | 50.27 | -33.99 |
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 | VUSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 5.84 | -3.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 4.00 | -2.99 |
Correlation
The correlation between VGSH and VUSB is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VGSH vs. VUSB - Dividend Comparison
VGSH's dividend yield for the trailing twelve months is around 3.95%, less than VUSB's 4.53% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.95% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
VUSB Vanguard Ultra-Short Bond ETF | 4.53% | 4.63% | 5.16% | 4.45% | 1.56% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VGSH vs. VUSB - Drawdown Comparison
The maximum VGSH drawdown since its inception was -5.70%, which is greater than VUSB's maximum drawdown of -1.79%. Use the drawdown chart below to compare losses from any high point for VGSH and VUSB.
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Drawdown Indicators
| VGSH | VUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.70% | -1.79% | -3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -0.88% | -0.46% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.70% | — | — |
Current DrawdownCurrent decline from peak | -0.49% | -0.12% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -0.28% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.09% | +0.14% |
Volatility
VGSH vs. VUSB - Volatility Comparison
Vanguard Short-Term Treasury ETF (VGSH) has a higher volatility of 0.52% compared to Vanguard Ultra-Short Bond ETF (VUSB) at 0.37%. This indicates that VGSH's price experiences larger fluctuations and is considered to be riskier than VUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSH | VUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.37% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.84% | 0.49% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 0.77% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 0.83% | +1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 0.83% | +0.74% |