VTG vs. PIFI

Last updated Jun 5, 2026

VTG (Vanguard Total Treasury ETF) and PIFI (ClearShares Piton Intermediate Fixed Income ETF) are both Intermediate Core Bond funds. VTG is passively managed, while PIFI is actively managed. Their correlation of 0.94 suggests significant overlap in exposure. VTG charges 0.03%/yr vs 0.45%/yr for PIFI.

Performance

VTG vs. PIFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Treasury ETF (VTG) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTG achieves a 0.01% return, which is significantly lower than PIFI's 0.10% return.

VTG

• 1D: 0.11%
• 1M: 0.10%
• YTD: 0.01%
• 6M: 0.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIFI

• 1D: 0.24%
• 1M: 0.12%
• YTD: 0.10%
• 6M: 0.27%
• 1Y: 3.35%
• 3Y*: 3.80%
• 5Y*: 1.07%
• 10Y*: —

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

VTG vs. PIFI - Yearly Performance Comparison

	2026 (YTD)	2025
VTG Vanguard Total Treasury ETF	0.01%	2.88%
PIFI ClearShares Piton Intermediate Fixed Income ETF	0.10%	2.75%

Correlation

The correlation between VTG and PIFI is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.94

Return for Risk

VTG vs. PIFI — Risk / Return Rank

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

PIFI

PIFI Risk / Return Rank: 36
PIFI Sharpe Ratio Rank: 36
PIFI Sortino Ratio Rank: 39
PIFI Omega Ratio Rank: 35
PIFI Calmar Ratio Rank: 36
PIFI Martin Ratio Rank: 34

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.

VTG vs. PIFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Treasury ETF (VTG) and ClearShares Piton Intermediate Fixed Income ETF (PIFI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VTG	PIFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.30	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.23	+0.68

Drawdowns

VTG vs. PIFI - Drawdown Comparison

The maximum VTG drawdown since its inception was -2.89%, smaller than the maximum PIFI drawdown of -10.59%. Use the drawdown chart below to compare losses from any high point for VTG and PIFI.

Drawdown Indicators

	VTG	PIFI	Difference
Max Drawdown Largest peak-to-trough decline	-2.89%	-10.59%	+7.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.41%	—
Current Drawdown Current decline from peak	-1.78%	-1.21%	-0.57%
Average Drawdown Average peak-to-trough decline	-0.74%	-3.23%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.67%	—

Volatility

Volatility by Period

	VTG	PIFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	2.62%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.51%	3.66%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.51%	3.48%	+0.03%

VTG vs. PIFI - Expense Ratio Comparison

VTG has a 0.03% expense ratio, which is lower than PIFI's 0.45% expense ratio.

Dividends

VTG vs. PIFI - Dividend Comparison

VTG's dividend yield for the trailing twelve months is around 3.20%, less than PIFI's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021
PIFI ClearShares Piton Intermediate Fixed Income ETF	3.75%	3.16%	2.92%	2.29%	1.22%	0.25%
VTG Vanguard Total Treasury ETF	3.20%	1.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTG and PIFI in my portfolio?

With a correlation of 0.94, VTG and PIFI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VTG or PIFI?

On fees, VTG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VTG or PIFI?

VTG is cheaper with a 0.03% expense ratio, compared with 0.45% for PIFI.

Which ETF pays a higher dividend yield, VTG or PIFI?

PIFI has the higher dividend yield at 3.75%, compared with 3.20% for VTG.

What is the main difference between VTG and PIFI?

They also come from different issuers: Vanguard and ClearShares. Their fees differ too: 0.03% for VTG and 0.45% for PIFI.