Data as of Oct 28, 2026.
SHY vs VO: Differences, Returns & Fees
Over the year to Oct 28, 2026, SHY returned +1.6% to VO's +12.8%; 0% of their weight is in the same names.
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Net assets: $27.4bn on Oct 27, 2026 for iShares 1-3 Year Treasury Bond ETF, and $103.4bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap ETF.
Pair scorecard
VO costs 0.12 points a year less; their one-year returns differ by 11.2 points; VO is 3.9 times larger.
| Measure | SHY | VO |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.6% | +12.8% |
| Drawdown | ||
| Below its high | 3.1%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | ICE U.S. Treasury 1-3 Year Bond Index | Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index) |
| Cost and size | ||
| Expense ratio | 0.15% | 0.03% |
| Net assets, as of Sep 30, 2026 | $26.3bn | $103.4bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 91% | |
| Top ten holdings, share of the fund | 9.7% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsVO returned more: +797.9% to +53.1%. SHY swung less: 1.4% to 19.6%. SHY fell less at its worst: −5.6% to −58.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SHY | VO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +53.1% | +797.9% | VO | Price change plus distributions, reinvested. |
| Annualized | +1.9% | +10.1% | VO | Total return as a yearly rate. |
| Price return | −1.3% | +546.9% | VO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.4% | 19.6% | SHY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.9% | 13.8% | SHY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.6% | −58.4% | SHY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.05 | 0.50 | VO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.07 | 0.71 | VO | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.34 | 0.17 | SHY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SHY and VO hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
SHY and VO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SHY and VO do different jobs. What does each one do in a portfolio?
- What each follows. SHY follows ICE U.S. Treasury 1-3 Year Bond Index and VO follows Morningstar US Mid Cap Index (formerly CRSP US Mid Cap Index).
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SHY returned +1.6% and VO +12.8% with distributions reinvested, a gap of 11.2 points.
Data as of Oct 28, 2026.
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SHY
SHY tracks an index of 1-3 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +1.6% with distributions reinvested, against +1.7% for its benchmark, the ICE U.S. Treasury 1-3 Year Bond Index. The prospectus expense ratio is 0.15% a year.
VO
VO tracks an index of Mid-Cap. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 9.7%. It sat 3.1% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SHY or VO?
- In the year to Oct 28, 2026, with distributions reinvested, SHY returned +1.6% and VO +12.8%.
- Which is cheaper, SHY or VO?
- VO is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SHY against VO, data as of Oct 28, 2026. https://etfiq.com/compare/any/shy-vs-vo
ETFIQ. (Oct 28, 2026). SHY against VO. Retrieved from https://etfiq.com/compare/any/shy-vs-vo
[SHY against VO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/shy-vs-vo)
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