Data as of Oct 28, 2026.
VBIL vs VGSH: Differences, Returns & Fees
VBIL's duration was 0.1 years on Jun 30, 2026 and VGSH's 1.8 on May 31, 2026; VGSH charges 0.03% to VBIL's 0.06%.
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Net assets on Sep 30, 2026: $12.8bn for Vanguard 0-3 Month Treasury Bill ETF and $35.1bn for Vanguard Short-Term Treasury ETF.
Pair scorecard
VGSH costs 0.03 points a year less; their one-year returns differ by 2.0 points; VGSH is 2.7 times larger.
| Measure | VBIL | VGSH |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +1.7% |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Treasury Bills 0-3 Months Index | Bloomberg U.S. Treasury 1-3 Year Index |
| Cost and size | ||
| Expense ratio | 0.06% | 0.03% |
| Net assets, as of Sep 30, 2026 | $12.8bn | $35.1bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method
Risk and return
Feb 21, 2025 to Oct 23, 2026 · 87 weekly returnsVBIL returned more: +6.7% to +5.6%. VBIL swung less: 0.1% to 1.3%. VBIL fell less at its worst: 0.0% to −0.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | VBIL | VGSH | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +6.7% | +5.6% | VBIL | Price change plus distributions, reinvested. |
| Annualized | +3.9% | +3.3% | VBIL | Total return as a yearly rate. |
| Price return | +0.8% | −1.0% | VBIL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.1% | 1.3% | VBIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.1% | 1.0% | VBIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | 0.0% | −0.8% | VBIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.64 | −0.56 | VGSH | Return above Treasury bills per unit of volatility. |
| Sortino | −0.90 | −0.72 | VGSH | Return above Treasury bills per unit of downside deviation. |
| Calmar | Not measured | 4.29 | Annualized return divided by the max drawdown. | |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 87 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VBIL and VGSH hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
VBIL and VGSH on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VBIL and VGSH do different jobs. What does each one do in a portfolio?
- What each follows. VBIL follows Bloomberg U.S. Treasury Bills 0-3 Months Index and VGSH follows Bloomberg U.S. Treasury 1-3 Year Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 VBIL returned +3.7% and VGSH +1.7% with distributions reinvested, a gap of 2.0 points.
Data as of Oct 28, 2026.
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VBIL
VBIL tracks an index of 0-3 Month Treasury Bill. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.06% a year.
VGSH
VGSH tracks an index of Short-Term Treasury. Over the year to Oct 28, 2026 it returned +1.7% with distributions reinvested, against +1.8% for its benchmark, the Bloomberg U.S. Treasury 1-3 Year Index. The prospectus expense ratio is 0.03% a year.
Questions people ask
- Which returned more over the last year, VBIL or VGSH?
- In the year to Oct 28, 2026, with distributions reinvested, VBIL returned +3.7% and VGSH +1.7%.
- Which is cheaper, VBIL or VGSH?
- VGSH is cheaper, by 0.03 percentage points a year. That is about $3 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, VBIL against VGSH, data as of Oct 28, 2026. https://etfiq.com/compare/any/vbil-vs-vgsh
ETFIQ. (Oct 28, 2026). VBIL against VGSH. Retrieved from https://etfiq.com/compare/any/vbil-vs-vgsh
[VBIL against VGSH (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vbil-vs-vgsh)
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