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Data as of Oct 28, 2026.

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VGSH vs VTIP: Differences, Returns & Fees

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VGSH's duration was 1.8 years on May 31, 2026 and VTIP's 2.3 on Jun 30, 2026; both charge 0.03%.

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Net assets on Sep 30, 2026: $35.1bn for Vanguard Short-Term Treasury ETF and $20.9bn for Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares.

VGSH on its own →VTIP on its own →
At a glance
+1.7%
VGSH total return, 1 year
+2.2%
VTIP total return, 1 year
0.03%
VGSH expense ratio
0.03%
VTIP expense ratio

Pair scorecard

Both cost 0.03% a year; their one-year returns differ by 0.5 points; VGSH is 1.7 times larger.

Points (pts) are percentage points.

VGSH vs VTIP: Differences, Returns & Fees
MeasureVGSHVTIP
Return
Total return, 1 year+1.7%+2.2%
Benchmark
What it tracksBloomberg U.S. Treasury 1-3 Year IndexBloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index
Cost and size
Expense ratio0.03%0.03%
Net assets, as of Sep 30, 2026$35.1bn$20.9bn
Holdings
Holdings in common0%

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method

Risk and return

Oct 26, 2012 to Oct 23, 2026 · 730 weekly returns
VGSH VTIP
Return
Total return edge VTIP +22.5% +35.7%
Annualized edge VTIP +1.5% +2.2%
Price return edge VTIP −5.1% −2.1%
Risk
Volatility edge VGSH 1.3% 2.3%
Max drawdown edge Tie −5.5% −5.5%
Risk-adjusted
Sharpe edge VTIP −0.28 0.17
Sortino edge VTIP −0.41 0.22
Calmar edge VTIP 0.26 0.40
Reading

VTIP returned more: +35.7% to +22.5%. VGSH swung less: 1.3% to 2.3%. VGSH and VTIP fell about the same at their worst: −5.5% and −5.5%.

Full scorecard

9 measures, with how each is measured Open ↓
Risk and return: VGSH vs VTIP: Differences, Returns & Fees
MeasureVGSHVTIPEdgeHow it is measured
Return
Total return+22.5%+35.7%VTIPPrice change plus distributions, reinvested.
Annualized+1.5%+2.2%VTIPTotal return as a yearly rate.
Price return−5.1%−2.1%VTIPPrice change alone, distributions left out.
Risk
Volatility1.3%2.3%VGSHSpread of weekly returns, annualized. Lower is steadier.
Downside deviation0.9%1.7%VGSHLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−5.5%−5.5%TieDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe−0.280.17VTIPReturn above Treasury bills per unit of volatility.
Sortino−0.410.22VTIPReturn above Treasury bills per unit of downside deviation.
Calmar0.260.40VTIPAnnualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 730 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

0%

By the books each fund has filed, VGSH and VTIP hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first VGSH VTIP
Only in one fund ↓
Only in VGSH
US TREASURY N/B, due Jan 31, 2028 2.24%
US TREASURY N/B, due Apr 30, 2029 1.40%
US TREASURY N/B, due Jul 31, 2027 1.35%
US TREASURY N/B, due Feb 28, 2029 1.31%
US TREASURY N/B, due Mar 31, 2029 1.30%
US TREASURY N/B, due Jun 15, 2027 1.29%
US TREASURY N/B, due May 15, 2027 1.26%
US TREASURY N/B, due Aug 15, 2027 1.26%
Only in VTIP
TSY INFL IX N/B, due Oct 15, 2030 5.39%
TSY INFL IX N/B, due Oct 15, 2029 5.33%
TSY INFL IX N/B, due Apr 15, 2030 5.30%
TSY INFL IX N/B, due Apr 15, 2029 5.14%
TSY INFL IX N/B, due Oct 15, 2028 4.97%
TSY INFL IX N/B, due Oct 15, 2026 4.83%
TSY INFL IX N/B, due Oct 15, 2027 4.83%
TSY INFL IX N/B, due Apr 15, 2027 4.74%
Check overlap with more funds →

Side by side

VGSH Vanguard Short-Term Treasury ETF VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares
Where it sits Bond ETF Bond ETF
Issuer Vanguard Vanguard
What it is Tracks an index of Short-Term Treasury Tracks an index of Short-Term Inflation-Protected Securities
Total return, 1 year +1.7% +2.2%
Its benchmark over the same days +1.8% (SCHO) not measured
Gap to its benchmark −0.1 pts vs SCHO not measured
Expense ratio 0.03% 0.03%
Holdings 93 26
Net assets, as of Sep 30, 2026 $35.1bn $20.9bn

VGSH and VTIP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-2514C4F2B9

VGSH and VTIP do different jobs. What does each one do in a portfolio?

  1. What each follows. VGSH follows Bloomberg U.S. Treasury 1-3 Year Index and VTIP follows Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index.
  2. Holdings in common. 0% of the weight is in the same securities (holdings dated May 31, 2026 and Jun 30, 2026).
  3. Number of holdings. VGSH holds 93 positions and VTIP holds 26.

Data as of Oct 28, 2026.

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About each fund
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.

VTIP

VTIP tracks an index of Short-Term Inflation-Protected Securities. Over the year to Oct 28, 2026 it returned +2.2% with distributions reinvested.

Questions people ask

Which returned more over the last year, VGSH or VTIP?
In the year to Oct 28, 2026, with distributions reinvested, VGSH returned +1.7% and VTIP +2.2%.
Which is cheaper, VGSH or VTIP?
Neither: VGSH and VTIP both charge 0.03% a year. Fees come from each fund's prospectus.
Other comparisons
HYG vs VGSHBINC vs VGSHJAAA vs VGSHEMB vs VGSHSHY vs VTIPIEI vs VTIPMBB vs VTIPJAAA vs VTIP
Where to next
VGSH on its own →VTIP on its own →Hold both: look the portfolio through →Rankings →VGSH dividend history →VGSH holdings →VTIP dividend history →VTIP holdings →Standards and sources →
Sources and dates
VGSH filings on SEC EDGAR ↗
VGSH prospectus with the expense ratio (SEC) ↗
Vanguard page for VGSH ↗
VTIP filings on SEC EDGAR ↗
VTIP prospectus with the expense ratio (SEC) ↗
Vanguard page for VTIP ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, VGSH against VTIP, data as of Oct 28, 2026. https://etfiq.com/compare/any/vgsh-vs-vtip

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.