VSBSX vs. VFIRX
VSBSX (Vanguard Short-Term Treasury Index Fund Admiral Shares) and VFIRX (Vanguard Short-Term Treasury Fund Admiral Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VSBSX returned 1.75%/yr vs 1.67%/yr for VFIRX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VSBSX charges 0.06%/yr vs 0.10%/yr for VFIRX.
Performance
VSBSX vs. VFIRX - Performance Comparison
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Returns By Period
In the year-to-date period, VSBSX achieves a 0.81% return, which is significantly higher than VFIRX's 0.46% return. Both investments have delivered pretty close results over the past 10 years, with VSBSX having a 1.75% annualized return and VFIRX not far behind at 1.67%.
VSBSX
- 1D
- 0.05%
- 1M
- 0.15%
- 6M
- 0.61%
- YTD
- 0.81%
- 1Y
- 2.66%
- 3Y*
- 4.39%
- 5Y*
- 1.92%
- 10Y*
- 1.75%
- ALL TIME*
- 1.41%
VFIRX
- 1D
- 0.10%
- 1M
- -0.20%
- 6M
- 0.24%
- YTD
- 0.46%
- 1Y
- 2.28%
- 3Y*
- 4.18%
- 5Y*
- 1.56%
- 10Y*
- 1.67%
- ALL TIME*
- 2.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VSBSX vs. VFIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 0.81% | 5.08% | 4.39% | 4.23% | -3.87% | -0.69% | 3.09% | 3.51% | 1.52% | 0.35% |
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares | 0.46% | 5.47% | 3.85% | 3.66% | -4.61% | -0.80% | 4.06% | 3.71% | 1.47% | 0.40% |
Correlation
The correlation between VSBSX and VFIRX is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.79 |
The correlation between VSBSX and VFIRX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
VSBSX vs. VFIRX — Risk / Return Rank
VSBSX
VFIRX
VSBSX vs. VFIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) and Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VSBSX | VFIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.32 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 2.26 | +1.49 |
| Martin ratioReturn relative to average drawdown | 14.92 | 6.74 | +8.18 |
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Drawdowns
VSBSX vs. VFIRX - Drawdown Comparison
The maximum VSBSX drawdown since its inception was -5.77%, smaller than the maximum VFIRX drawdown of -6.73%. Use the drawdown chart below to compare losses from any high point for VSBSX and VFIRX.
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Drawdown Indicators
| VSBSX | VFIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.77% | -6.73% | +0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.84% | -1.40% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -0.84% | -1.40% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -5.72% | -6.64% | +0.92% |
Max Drawdown (10Y)Largest decline over 10 years | -5.77% | -6.73% | +0.96% |
Current DrawdownCurrent decline from peak | 0.00% | -0.54% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -0.71% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.47% | -0.26% |
Volatility
VSBSX vs. VFIRX - Volatility Comparison
The current volatility for Vanguard Short-Term Treasury Index Fund Admiral Shares (VSBSX) is 0.36%, while Vanguard Short-Term Treasury Fund Admiral Shares (VFIRX) has a volatility of 0.47%. This indicates that VSBSX experiences smaller price fluctuations and is considered to be less risky than VFIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSBSX | VFIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.47% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.99% | 1.59% | -0.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.30% | 2.06% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 2.69% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.54% | 2.13% | -0.59% |
VSBSX vs. VFIRX - Expense Ratio Comparison
VSBSX has a 0.06% expense ratio, which is lower than VFIRX's 0.10% 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
VSBSX vs. VFIRX - Dividend Comparison
VSBSX's dividend yield for the trailing twelve months is around 3.47%, less than VFIRX's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFIRX Vanguard Short-Term Treasury Fund Admiral Shares | 3.51% | 3.99% | 4.49% | 4.07% | 2.03% | 0.60% | 2.30% | 2.49% | 2.21% | 1.25% | 1.28% | 0.93% |
VSBSX Vanguard Short-Term Treasury Index Fund Admiral Shares | 3.47% | 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
VSBSX and VFIRX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFIRX has higher volatility (0.47%) compared to VSBSX (0.36%). In terms of maximum drawdown, VSBSX dropped -5.77% vs VFIRX's -6.73%.
VSBSX currently has the higher Sharpe Ratio (2.41 vs 1.54), 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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