VPAIX vs. SGOV
Compare and contrast key facts about Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) and iShares 0-3 Month Treasury Bond ETF (SGOV).
VPAIX is managed by Vanguard. It was launched on Apr 7, 1986. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Securities Index. It was launched on May 26, 2020.
Performance
VPAIX vs. SGOV - Performance Comparison
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VPAIX vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | -0.60% | 5.27% | 2.59% | 7.25% | -10.20% | 1.97% | 4.81% |
SGOV iShares 0-3 Month Treasury Bond ETF | 0.88% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Returns By Period
In the year-to-date period, VPAIX achieves a -0.60% return, which is significantly lower than SGOV's 0.88% return.
VPAIX
- 1D
- 0.28%
- 1M
- -2.19%
- YTD
- -0.60%
- 6M
- 1.54%
- 1Y
- 4.27%
- 3Y*
- 3.81%
- 5Y*
- 1.17%
- 10Y*
- 2.65%
SGOV
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 0.88%
- 6M
- 1.89%
- 1Y
- 4.07%
- 3Y*
- 4.80%
- 5Y*
- 3.41%
- 10Y*
- —
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VPAIX vs. SGOV - Expense Ratio Comparison
VPAIX has a 0.17% expense ratio, which is higher than SGOV's 0.09% 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
VPAIX vs. SGOV — Risk / Return Rank
VPAIX
SGOV
VPAIX vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| VPAIX | SGOV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 20.61 | -19.72 |
Sortino ratioReturn per unit of downside risk | 1.22 | 283.87 | -282.66 |
Omega ratioGain probability vs. loss probability | 1.25 | 201.33 | -200.08 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 411.31 | -410.25 |
Martin ratioReturn relative to average drawdown | 3.26 | 4,618.08 | -4,614.82 |
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
| VPAIX | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 20.61 | -19.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 14.12 | -13.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 12.34 | -11.22 |
Correlation
The correlation between VPAIX and SGOV is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VPAIX vs. SGOV - Dividend Comparison
VPAIX's dividend yield for the trailing twelve months is around 3.68%, less than SGOV's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VPAIX Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares | 3.68% | 4.48% | 4.04% | 3.25% | 3.12% | 2.45% | 3.16% | 3.70% | 3.91% | 3.93% | 4.10% | 3.92% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.95% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VPAIX vs. SGOV - Drawdown Comparison
The maximum VPAIX drawdown since its inception was -19.51%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for VPAIX and SGOV.
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Drawdown Indicators
| VPAIX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.51% | -0.03% | -19.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -0.01% | -5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -15.76% | -0.03% | -15.73% |
Max Drawdown (10Y)Largest decline over 10 years | -15.76% | — | — |
Current DrawdownCurrent decline from peak | -2.55% | 0.00% | -2.55% |
Average DrawdownAverage peak-to-trough decline | -2.16% | 0.00% | -2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.00% | +1.69% |
Volatility
VPAIX vs. SGOV - Volatility Comparison
Vanguard Pennsylvania Long-Term Tax-Exempt Fund Investor Shares (VPAIX) has a higher volatility of 1.21% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that VPAIX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPAIX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.06% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 1.84% | 0.13% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 0.20% | +5.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.45% | 0.24% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.39% | 0.24% | +4.15% |