VGUS vs. SPTU

Last updated Jun 3, 2026

VGUS (Vanguard Ultra-Short Treasury ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds - VGUS tracks the Bloomberg Short Treasury Index while SPTU tracks the ICE BofA US Treasury Bill Index. Both are passively managed. At a 0.27 correlation, their price movements are largely independent. VGUS charges 0.07%/yr vs 0.05%/yr for SPTU.

Performance

VGUS vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Ultra-Short Treasury ETF (VGUS) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VGUS having a 1.43% return and SPTU slightly higher at 1.48%.

VGUS

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.43%
• 6M: 1.75%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGUS vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
VGUS Vanguard Ultra-Short Treasury ETF	1.43%	0.93%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between VGUS and SPTU is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.27

Return for Risk

VGUS vs. SPTU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VGUS

VGUS Risk / Return Rank: 100
VGUS Sharpe Ratio Rank: 100
VGUS Sortino Ratio Rank: 100
VGUS Omega Ratio Rank: 100
VGUS Calmar Ratio Rank: 99
VGUS Martin Ratio Rank: 100

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.

VGUS vs. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short Treasury ETF (VGUS) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

	VGUS	SPTU	Difference
Sharpe ratio Return per unit of total volatility	11.97	—	—
Sortino ratio Return per unit of downside risk	34.67	—	—
Omega ratio Gain probability vs. loss probability	10.52	—	—
Calmar ratio Return relative to maximum drawdown	54.40	—	—
Martin ratio Return relative to average drawdown	412.24	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VGUS	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.71	11.88	-0.17

Drawdowns

VGUS vs. SPTU - Drawdown Comparison

The maximum VGUS drawdown since its inception was -0.07%, which is greater than SPTU's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for VGUS and SPTU.

Drawdown Indicators

	VGUS	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.07%	-0.04%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	VGUS	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	0.32%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.34%	0.32%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.34%	0.32%	+0.02%

VGUS vs. SPTU - Expense Ratio Comparison

VGUS has a 0.07% expense ratio, which is higher than SPTU's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VGUS vs. SPTU - Dividend Comparison

VGUS's dividend yield for the trailing twelve months is around 3.61%, more than SPTU's 2.36% yield.

Position	TTM	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%
VGUS Vanguard Ultra-Short Treasury ETF	3.61%	3.12%

Frequently Asked Questions

Can I hold both VGUS and SPTU in my portfolio?

VGUS and SPTU have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGUS or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGUS or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.07% for VGUS.

Which ETF pays a higher dividend yield, VGUS or SPTU?

VGUS has the higher dividend yield at 3.61%, compared with 2.36% for SPTU.

What is the main difference between VGUS and SPTU?

VGUS tracks Bloomberg Short Treasury Index, while SPTU tracks ICE BofA US Treasury Bill Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.07% for VGUS and 0.05% for SPTU.