VV vs. SHY

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Large-Cap ETF (VV) and iShares 1-3 Year Treasury Bond ETF (SHY).

VV and SHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VV is a passively managed fund by Vanguard that tracks the performance of the CRSP US Large Cap Index. It was launched on Jan 27, 2004. SHY is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 1-3 Year Treasury Bond Index. It was launched on Jul 22, 2002. Both VV and SHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VV vs. SHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Large-Cap ETF (VV) and iShares 1-3 Year Treasury Bond ETF (SHY). The values are adjusted to include any dividend payments, if applicable.

VV vs. SHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VV Vanguard Large-Cap ETF	-4.11%	18.11%	25.25%	27.18%	-19.91%	27.41%	21.04%	31.25%	-4.46%	22.00%
SHY iShares 1-3 Year Treasury Bond ETF	0.26%	4.95%	3.92%	4.16%	-3.88%	-0.71%	3.03%	3.38%	1.46%	0.26%

Returns By Period

In the year-to-date period, VV achieves a -4.11% return, which is significantly lower than SHY's 0.26% return. Over the past 10 years, VV has outperformed SHY with an annualized return of 14.13%, while SHY has yielded a comparatively lower 1.65% annualized return.

VV

• 1D: 0.72%
• 1M: -4.28%
• YTD: -4.11%
• 6M: -2.05%
• 1Y: 18.00%
• 3Y*: 18.78%
• 5Y*: 11.47%
• 10Y*: 14.13%

SHY

• 1D: -0.00%
• 1M: -0.29%
• YTD: 0.26%
• 6M: 1.22%
• 1Y: 3.57%
• 3Y*: 3.88%
• 5Y*: 1.70%
• 10Y*: 1.65%

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

VV vs. SHY - Expense Ratio Comparison

VV has a 0.04% expense ratio, which is lower than SHY's 0.15% 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%.

SHY

iShares 1-3 Year Treasury Bond ETF

VV

Vanguard Large-Cap ETF

Return for Risk

VV vs. SHY — Risk / Return Rank

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

VV

VV Risk / Return Rank: 58
VV Sharpe Ratio Rank: 52
VV Sortino Ratio Rank: 55
VV Omega Ratio Rank: 59
VV Calmar Ratio Rank: 58
VV Martin Ratio Rank: 67

SHY

SHY Risk / Return Rank: 96
SHY Sharpe Ratio Rank: 95
SHY Sortino Ratio Rank: 98
SHY Omega Ratio Rank: 96
SHY Calmar Ratio Rank: 95
SHY Martin Ratio Rank: 95

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.

VV vs. SHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap ETF (VV) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.

	VV	SHY	Difference
Sharpe ratio Return per unit of total volatility	0.97	2.48	-1.50
Sortino ratio Return per unit of downside risk	1.49	4.07	-2.58
Omega ratio Gain probability vs. loss probability	1.23	1.52	-0.29
Calmar ratio Return relative to maximum drawdown	1.52	4.06	-2.54
Martin ratio Return relative to average drawdown	7.05	15.56	-8.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VV vs. SHY - Sharpe Ratio Comparison

The current VV Sharpe Ratio is 0.97, which is lower than the SHY Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of VV and SHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VV	SHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	2.48	-1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.87	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	1.06	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	1.29	-0.73

Correlation

The correlation between VV and SHY is -0.18. 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

VV vs. SHY - Dividend Comparison

VV's dividend yield for the trailing twelve months is around 1.13%, less than SHY's 3.72% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VV Vanguard Large-Cap ETF	1.13%	1.08%	1.24%	1.41%	1.66%	1.19%	1.46%	1.81%	2.09%	1.75%	1.98%	1.96%
SHY iShares 1-3 Year Treasury Bond ETF	3.72%	3.81%	3.92%	2.99%	1.30%	0.26%	0.94%	2.12%	1.72%	0.98%	0.71%	0.54%

Drawdowns

VV vs. SHY - Drawdown Comparison

The maximum VV drawdown since its inception was -54.81%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for VV and SHY.

Drawdown Indicators

	VV	SHY	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-5.71%	-49.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-0.89%	-11.20%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	-5.71%	-19.95%
Max Drawdown (10Y) Largest decline over 10 years	-34.28%	-5.71%	-28.57%
Current Drawdown Current decline from peak	-5.85%	-0.47%	-5.38%
Average Drawdown Average peak-to-trough decline	-6.88%	-0.52%	-6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	0.23%	+2.38%

Volatility

VV vs. SHY - Volatility Comparison

Vanguard Large-Cap ETF (VV) has a higher volatility of 5.34% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.58%. This indicates that VV's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VV	SHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	0.58%	+4.76%
Volatility (6M) Calculated over the trailing 6-month period	9.60%	0.89%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	1.45%	+17.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.24%	1.97%	+15.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.18%	1.56%	+16.62%