VIIGX vs. IEI
VIIGX (Vanguard Intermediate-Term Treasury Index Fund Institutional Shares) and IEI (iShares 3-7 Year Treasury Bond ETF) are both Government Bonds funds. Over the past 10 years, VIIGX returned 1.30%/yr vs 1.25%/yr for IEI. With a 0.98 correlation, they move nearly in lockstep. VIIGX charges 0.05%/yr vs 0.15%/yr for IEI.
Performance
VIIGX vs. IEI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIIGX achieves a -0.35% return, which is significantly higher than IEI's -0.71% return. Both investments have delivered pretty close results over the past 10 years, with VIIGX having a 1.30% annualized return and IEI not far behind at 1.25%.
VIIGX
- 1D
- 0.08%
- 1M
- -0.28%
- YTD
- -0.35%
- 6M
- -0.11%
- 1Y
- 4.04%
- 3Y*
- 3.53%
- 5Y*
- 0.12%
- 10Y*
- 1.30%
IEI
- 1D
- -0.38%
- 1M
- -0.66%
- YTD
- -0.71%
- 6M
- -0.46%
- 1Y
- 3.31%
- 3Y*
- 3.42%
- 5Y*
- 0.17%
- 10Y*
- 1.25%
VIIGX vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIIGX Vanguard Intermediate-Term Treasury Index Fund Institutional Shares | -0.35% | 7.38% | 1.62% | 4.39% | -10.65% | -2.38% | 7.65% | 6.32% | 1.36% | 1.60% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.71% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between VIIGX and IEI is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.98 |
The correlation between VIIGX and IEI has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIIGX vs. IEI — Risk / Return Rank
VIIGX
IEI
VIIGX vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Treasury Index Fund Institutional Shares (VIIGX) and iShares 3-7 Year Treasury Bond ETF (IEI). 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.
| VIIGX | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 1.13 | -0.01 |
| Martin ratioReturn relative to average drawdown | 3.35 | 3.32 | +0.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VIIGX | IEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.93 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.04 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.32 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.69 | -0.20 |
Drawdowns
VIIGX vs. IEI - Drawdown Comparison
The maximum VIIGX drawdown since its inception was -15.96%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for VIIGX and IEI.
Loading charts...
Drawdown Indicators
| VIIGX | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -14.60% | -1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.50% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -3.66% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -15.09% | -13.88% | -1.21% |
Max Drawdown (10Y)Largest decline over 10 years | -15.96% | -14.60% | -1.36% |
Current DrawdownCurrent decline from peak | -1.95% | -2.14% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -2.67% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.85% | +0.10% |
Volatility
VIIGX vs. IEI - Volatility Comparison
Vanguard Intermediate-Term Treasury Index Fund Institutional Shares (VIIGX) has a higher volatility of 1.07% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.92%. This indicates that VIIGX's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIIGX | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.92% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 2.16% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 3.03% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.77% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 3.93% | +0.52% |
VIIGX vs. IEI - Expense Ratio Comparison
VIIGX has a 0.05% expense ratio, which is lower than IEI's 0.15% 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
VIIGX vs. IEI - Dividend Comparison
VIIGX's dividend yield for the trailing twelve months is around 3.86%, more than IEI's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | 3.65% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
VIIGX Vanguard Intermediate-Term Treasury Index Fund Institutional Shares | 3.86% | 3.78% | 3.97% | 2.71% | 1.73% | 1.91% | 2.23% | 2.23% | 2.07% | 1.68% | 1.64% | 1.72% |
Frequently Asked Questions
With a correlation of 0.98, VIIGX and IEI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VIIGX has higher volatility (1.07%) compared to IEI (0.92%). In terms of maximum drawdown, VIIGX dropped -15.96% vs IEI's -14.60%.
VIIGX currently has the higher Sharpe Ratio (0.94 vs 0.93), 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.
Find the right allocation for VIIGX and IEI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer