VIIGX vs. VSBSX
VIIGX (Vanguard Intermediate-Term Treasury Index Fund Institutional Shares) and VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VIIGX returned 1.28%/yr vs 1.75%/yr for VSBSX. Their correlation of 0.81 suggests significant overlap in exposure. VIIGX charges 0.05%/yr vs 0.07%/yr for VSBSX.
Performance
VIIGX vs. VSBSX - Performance Comparison
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Returns By Period
In the year-to-date period, VIIGX achieves a -0.43% return, which is significantly lower than VSBSX's 0.45% return. Over the past 10 years, VIIGX has underperformed VSBSX with an annualized return of 1.28%, while VSBSX has yielded a comparatively higher 1.75% annualized return.
VIIGX
- 1D
- -0.16%
- 1M
- -0.20%
- YTD
- -0.43%
- 6M
- -0.34%
- 1Y
- 3.07%
- 3Y*
- 3.53%
- 5Y*
- 0.10%
- 10Y*
- 1.28%
VSBSX
- 1D
- -0.05%
- 1M
- 0.06%
- YTD
- 0.45%
- 6M
- 0.78%
- 1Y
- 3.25%
- 3Y*
- 4.26%
- 5Y*
- 1.86%
- 10Y*
- 1.75%
VIIGX vs. VSBSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIIGX Vanguard Intermediate-Term Treasury Index Fund Institutional Shares | -0.43% | 7.38% | 1.62% | 4.39% | -10.65% | -2.38% | 7.65% | 6.32% | 1.36% | 1.60% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.45% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | 0.35% |
Correlation
The correlation between VIIGX and VSBSX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.81 |
The correlation between VIIGX and VSBSX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
VIIGX vs. VSBSX — Risk / Return Rank
VIIGX
VSBSX
VIIGX vs. VSBSX - 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 Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX). 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 | VSBSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.57 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 4.09 | -2.82 |
| Martin ratioReturn relative to average drawdown | 3.81 | 16.83 | -13.02 |
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
| VIIGX | VSBSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 2.68 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.96 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 1.14 | -0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 1.07 | -0.58 |
Drawdowns
VIIGX vs. VSBSX - Drawdown Comparison
The maximum VIIGX drawdown since its inception was -15.96%, which is greater than VSBSX's maximum drawdown of -5.77%. Use the drawdown chart below to compare losses from any high point for VIIGX and VSBSX.
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Drawdown Indicators
| VIIGX | VSBSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -5.77% | -10.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.84% | -1.99% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -0.84% | -3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -15.09% | -5.77% | -9.32% |
Max Drawdown (10Y)Largest decline over 10 years | -15.96% | -5.77% | -10.19% |
Current DrawdownCurrent decline from peak | -2.03% | -0.27% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -0.59% | -2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.20% | +0.74% |
Volatility
VIIGX vs. VSBSX - Volatility Comparison
Vanguard Intermediate-Term Treasury Index Fund Institutional Shares (VIIGX) has a higher volatility of 1.07% compared to Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) at 0.36%. This indicates that VIIGX's price experiences larger fluctuations and is considered to be riskier than VSBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIIGX | VSBSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.36% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 0.87% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 1.28% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 1.95% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 1.54% | +2.91% |
VIIGX vs. VSBSX - Expense Ratio Comparison
VIIGX has a 0.05% expense ratio, which is lower than VSBSX's 0.07% 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. VSBSX - Dividend Comparison
VIIGX's dividend yield for the trailing twelve months is around 3.86%, which matches VSBSX's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.85% | 3.98% | 4.50% | 3.29% | 1.12% | 0.63% | 1.72% | 2.26% | 1.80% | 1.10% | 0.76% | 0.71% |
Frequently Asked Questions
VIIGX and VSBSX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIIGX has higher volatility (1.07%) compared to VSBSX (0.36%). In terms of maximum drawdown, VIIGX dropped -15.96% vs VSBSX's -5.77%.
VSBSX currently has the higher Sharpe Ratio (2.68 vs 1.05), 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.
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