VSBIX vs. GSGOX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) and Goldman Sachs Government Income Fund (GSGOX).

VSBIX is managed by Vanguard. It was launched on Aug 23, 2010. GSGOX is managed by Goldman Sachs. It was launched on Feb 9, 1993.

Performance

VSBIX vs. GSGOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) and Goldman Sachs Government Income Fund (GSGOX). The values are adjusted to include any dividend payments, if applicable.

VSBIX vs. GSGOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares	0.28%	5.11%	4.37%	4.28%	-3.87%	-0.67%	3.11%	3.53%	1.52%	0.40%
GSGOX Goldman Sachs Government Income Fund	1.75%	6.58%	0.07%	4.07%	-13.16%	-2.47%	6.34%	5.77%	0.30%	1.74%

Returns By Period

VSBIX

• 1D: 0.04%
• 1M: -0.33%
• YTD: 0.28%
• 6M: 1.24%
• 1Y: 3.69%
• 3Y*: 4.12%
• 5Y*: 1.86%
• 10Y*: 1.76%

GSGOX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VSBIX vs. GSGOX - Expense Ratio Comparison

VSBIX has a 0.05% expense ratio, which is lower than GSGOX's 0.82% expense ratio.

GSGOX

Goldman Sachs Government Income Fund

VSBIX

Vanguard Short-Term Treasury Index Fund Institutional Shares

Return for Risk

VSBIX vs. GSGOX — Risk / Return Rank

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

VSBIX

VSBIX Risk / Return Rank: 97
VSBIX Sharpe Ratio Rank: 97
VSBIX Sortino Ratio Rank: 98
VSBIX Omega Ratio Rank: 96
VSBIX Calmar Ratio Rank: 98
VSBIX Martin Ratio Rank: 97

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.

VSBIX vs. GSGOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Institutional Shares (VSBIX) and Goldman Sachs Government Income Fund (GSGOX). 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.

	VSBIX	GSGOX	Difference
Sharpe ratio Return per unit of total volatility	2.65	—	—
Sortino ratio Return per unit of downside risk	4.33	—	—
Omega ratio Gain probability vs. loss probability	1.58	—	—
Calmar ratio Return relative to maximum drawdown	4.70	—	—
Martin ratio Return relative to average drawdown	18.02	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VSBIX	GSGOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	—	—

Correlation

The correlation between VSBIX and GSGOX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VSBIX vs. GSGOX - Dividend Comparison

VSBIX's dividend yield for the trailing twelve months is around 3.59%, more than GSGOX's 3.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSBIX Vanguard Short-Term Treasury Index Fund Institutional Shares	3.59%	3.99%	4.52%	3.31%	1.14%	0.65%	1.74%	2.28%	1.81%	1.11%	0.80%	0.74%
GSGOX Goldman Sachs Government Income Fund	3.32%	3.03%	2.26%	2.09%	1.02%	2.30%	1.22%	2.03%	2.01%	1.73%	1.71%	1.53%

Drawdowns

Drawdown Indicators

	VSBIX	GSGOX	Difference
Max Drawdown Largest peak-to-trough decline	-5.74%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-5.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-5.74%	—	—
Current Drawdown Current decline from peak	-0.44%	—	—
Average Drawdown Average peak-to-trough decline	-0.59%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	—	—

Volatility

Volatility by Period

	VSBIX	GSGOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.42%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.94%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.53%	—	—