XLG vs. VGSH
XLG (Invesco S&P 500 Top 50 ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, XLG returned 17.23%/yr vs 1.73%/yr for VGSH. At a correlation of -0.14, they often move in opposite directions. XLG charges 0.20%/yr vs 0.03%/yr for VGSH.
Performance
XLG vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, XLG achieves a 5.56% return, which is significantly higher than VGSH's 0.64% return. Over the past 10 years, XLG has outperformed VGSH with an annualized return of 17.23%, while VGSH has yielded a comparatively lower 1.73% annualized return.
XLG
- 1D
- 1.88%
- 1M
- -1.70%
- YTD
- 5.56%
- 6M
- 6.64%
- 1Y
- 25.51%
- 3Y*
- 22.53%
- 5Y*
- 15.57%
- 10Y*
- 17.23%
VGSH
- 1D
- 0.07%
- 1M
- 0.35%
- YTD
- 0.64%
- 6M
- 0.85%
- 1Y
- 3.43%
- 3Y*
- 4.27%
- 5Y*
- 1.87%
- 10Y*
- 1.73%
XLG vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLG Invesco S&P 500 Top 50 ETF | 5.56% | 19.51% | 33.49% | 38.16% | -24.29% | 30.77% | 24.15% | 32.04% | -3.59% | 23.04% |
VGSH Vanguard Short-Term Treasury ETF | 0.64% | 5.07% | 4.00% | 4.31% | -3.86% | -0.60% | 3.04% | 3.52% | 1.55% | 0.04% |
Correlation
The correlation between XLG and VGSH is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.14 |
The correlation between XLG and VGSH shifts across timeframes, from -0.14 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLG vs. VGSH — Risk / Return Rank
XLG
VGSH
XLG vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Top 50 ETF (XLG) and Vanguard Short-Term Treasury ETF (VGSH). 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.
| XLG | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.58 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 3.90 | -1.83 |
| Martin ratioReturn relative to average drawdown | 7.55 | 15.21 | -7.66 |
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Drawdowns
XLG vs. VGSH - Drawdown Comparison
The maximum XLG drawdown since its inception was -52.39%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for XLG and VGSH.
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Drawdown Indicators
| XLG | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -5.70% | -46.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -0.88% | -11.53% |
Max Drawdown (3Y)Largest decline over 3 years | -20.70% | -0.97% | -19.73% |
Max Drawdown (5Y)Largest decline over 5 years | -28.02% | -5.66% | -22.36% |
Max Drawdown (10Y)Largest decline over 10 years | -30.46% | -5.70% | -24.76% |
Current DrawdownCurrent decline from peak | -3.28% | -0.14% | -3.14% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -0.60% | -7.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 0.23% | +3.16% |
Volatility
XLG vs. VGSH - Volatility Comparison
Invesco S&P 500 Top 50 ETF (XLG) has a higher volatility of 4.58% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.37%. This indicates that XLG's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XLG | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 0.37% | +4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 0.90% | +9.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.78% | 1.28% | +12.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 1.97% | +16.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.88% | 1.58% | +17.30% |
XLG vs. VGSH - Expense Ratio Comparison
XLG has a 0.20% expense ratio, which is higher than VGSH's 0.03% 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%.
Dividends
XLG vs. VGSH - Dividend Comparison
XLG's dividend yield for the trailing twelve months is around 0.61%, less than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
XLG Invesco S&P 500 Top 50 ETF | 0.61% | 0.64% | 0.72% | 0.97% | 1.34% | 0.94% | 1.25% | 1.58% | 2.00% | 1.85% | 2.00% | 2.09% |
Frequently Asked Questions
XLG and VGSH have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLG has higher volatility (4.58%) compared to VGSH (0.37%). In terms of maximum drawdown, XLG dropped -52.39% vs VGSH's -5.70%.
On 10-year performance, XLG leads with 17.23% vs 1.73% for VGSH. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLG has performed better with a 17.23% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.20% for XLG.
VGSH has the higher dividend yield at 3.87%, compared with 0.61% for XLG.
XLG is categorized as S&P 500, while VGSH is Government Bonds. XLG tracks S&P 500 Top 50 Index, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.20% for XLG and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.71 vs 1.86), 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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