VMVLX vs. VGSH
Compare and contrast key facts about Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) and Vanguard Short-Term Treasury ETF (VGSH).
VMVLX is managed by Vanguard. It was launched on Mar 5, 2008. 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.
Performance
VMVLX vs. VGSH - Performance Comparison
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VMVLX vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 1.60% | 15.60% | 16.87% | 9.14% | -1.21% | 25.92% | 2.48% | 25.71% | -4.09% | 16.81% |
VGSH Vanguard Short-Term Treasury ETF | 0.28% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Returns By Period
In the year-to-date period, VMVLX achieves a 1.60% return, which is significantly higher than VGSH's 0.28% return. Over the past 10 years, VMVLX has outperformed VGSH with an annualized return of 11.81%, while VGSH has yielded a comparatively lower 1.74% annualized return.
VMVLX
- 1D
- -0.09%
- 1M
- -6.34%
- YTD
- 1.60%
- 6M
- 4.74%
- 1Y
- 13.17%
- 3Y*
- 14.85%
- 5Y*
- 11.09%
- 10Y*
- 11.81%
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%
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VMVLX vs. VGSH - Expense Ratio Comparison
VMVLX has a 0.06% expense ratio, which is higher than VGSH's 0.03% 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%.
Return for Risk
VMVLX vs. VGSH — Risk / Return Rank
VMVLX
VGSH
VMVLX vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| VMVLX | VGSH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 2.62 | -1.62 |
Sortino ratioReturn per unit of downside risk | 1.44 | 4.21 | -2.77 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.57 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | 1.20 | 4.26 | -3.05 |
Martin ratioReturn relative to average drawdown | 5.27 | 16.28 | -11.00 |
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
| VMVLX | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 2.62 | -1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.92 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 1.11 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.02 | -0.58 |
Correlation
The correlation between VMVLX and VGSH is -0.17. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
VMVLX vs. VGSH - Dividend Comparison
VMVLX's dividend yield for the trailing twelve months is around 2.11%, less than VGSH's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMVLX Vanguard Mega Cap Value Index Fund Institutional Shares | 2.11% | 2.05% | 2.32% | 2.49% | 2.46% | 2.18% | 2.47% | 2.70% | 2.66% | 2.36% | 1.90% | 2.62% |
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% |
Drawdowns
VMVLX vs. VGSH - Drawdown Comparison
The maximum VMVLX drawdown since its inception was -55.79%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for VMVLX and VGSH.
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Drawdown Indicators
| VMVLX | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.79% | -5.70% | -50.09% |
Max Drawdown (1Y)Largest decline over 1 year | -10.93% | -0.88% | -10.05% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -5.70% | -10.90% |
Max Drawdown (10Y)Largest decline over 10 years | -35.57% | -5.70% | -29.87% |
Current DrawdownCurrent decline from peak | -6.41% | -0.49% | -5.92% |
Average DrawdownAverage peak-to-trough decline | -7.72% | -0.60% | -7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 0.23% | +2.26% |
Volatility
VMVLX vs. VGSH - Volatility Comparison
Vanguard Mega Cap Value Index Fund Institutional Shares (VMVLX) has a higher volatility of 3.13% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.52%. This indicates that VMVLX's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMVLX | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.52% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 7.30% | 0.84% | +6.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 1.44% | +13.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.55% | 1.96% | +11.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.46% | 1.57% | +14.89% |