ZCBA vs. VGSH

Last updated Jun 6, 2026

ZCBA (Global X Zero Coupon Bond 2030 ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both Government Bonds funds - ZCBA tracks the FTSE Zero Coupon U.S. Treasury STRIPS 2030 Maturity Index while VGSH tracks the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. With a 0.95 correlation, they move nearly in lockstep. ZCBA charges 0.07%/yr vs 0.03%/yr for VGSH.

Performance

ZCBA vs. VGSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2030 ETF (ZCBA) and Vanguard Short-Term Treasury ETF (VGSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBA

• 1D: -0.40%
• 1M: -1.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGSH

• 1D: -0.17%
• 1M: -0.22%
• YTD: 0.36%
• 6M: 0.74%
• 1Y: 3.24%
• 3Y*: 4.11%
• 5Y*: 1.79%
• 10Y*: 1.72%

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

ZCBA vs. VGSH - Yearly Performance Comparison

	2026 (YTD)
ZCBA Global X Zero Coupon Bond 2030 ETF	-0.76%
VGSH Vanguard Short-Term Treasury ETF	0.29%

Correlation

The correlation between ZCBA and VGSH is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.95

Return for Risk

ZCBA vs. VGSH — Risk / Return Rank

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

VGSH

VGSH Risk / Return Rank: 82
VGSH Sharpe Ratio Rank: 80
VGSH Sortino Ratio Rank: 90
VGSH Omega Ratio Rank: 87
VGSH Calmar Ratio Rank: 74
VGSH Martin Ratio Rank: 77

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.

ZCBA vs. VGSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2030 ETF (ZCBA) 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.

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

Sharpe Ratios by Period

	ZCBA	VGSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.53	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	1.01	-1.59

Drawdowns

ZCBA vs. VGSH - Drawdown Comparison

The maximum ZCBA drawdown since its inception was -2.39%, smaller than the maximum VGSH drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for ZCBA and VGSH.

Drawdown Indicators

	ZCBA	VGSH	Difference
Max Drawdown Largest peak-to-trough decline	-2.39%	-5.70%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.66%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.70%	—
Current Drawdown Current decline from peak	-2.24%	-0.41%	-1.83%
Average Drawdown Average peak-to-trough decline	-1.00%	-0.60%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.22%	—

Volatility

Volatility by Period

	ZCBA	VGSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	1.29%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	1.97%	+1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	1.58%	+1.65%

ZCBA vs. VGSH - Expense Ratio Comparison

ZCBA has a 0.07% 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

ZCBA vs. VGSH - Dividend Comparison

ZCBA's dividend yield for the trailing twelve months is around 1.51%, less than VGSH's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGSH Vanguard Short-Term Treasury ETF	3.88%	4.00%	4.18%	3.31%	1.15%	0.66%	1.74%	2.28%	1.79%	1.10%	0.84%	0.69%
ZCBA Global X Zero Coupon Bond 2030 ETF	1.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZCBA and VGSH in my portfolio?

With a correlation of 0.95, ZCBA and VGSH 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, ZCBA or VGSH?

On fees, VGSH 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, ZCBA or VGSH?

VGSH is cheaper with a 0.03% expense ratio, compared with 0.07% for ZCBA.

Which ETF pays a higher dividend yield, ZCBA or VGSH?

VGSH has the higher dividend yield at 3.88%, compared with 1.51% for ZCBA.

What is the main difference between ZCBA and VGSH?

ZCBA tracks FTSE Zero Coupon U.S. Treasury STRIPS 2030 Maturity Index, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.07% for ZCBA and 0.03% for VGSH.