Data as of Oct 28, 2026.
VGSH vs VUSB: Differences, Returns & Fees
VGSH's duration was 1.8 years on May 31, 2026 and VUSB's 1.0 on Jun 30, 2026; VGSH charges 0.03% to VUSB's 0.10%.
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Net assets on Sep 30, 2026: $35.1bn for Vanguard Short-Term Treasury ETF and $9.9bn for Vanguard Ultra-Short Bond ETF.
Pair scorecard
VGSH costs 0.07 points a year less; their one-year returns differ by 1.8 points; VGSH is 3.5 times larger.
| Measure | VGSH | VUSB |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.7% | +3.5% |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Treasury 1-3 Year Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.03% | 0.10% |
| Net assets, as of Sep 30, 2026 | $35.1bn | $9.9bn |
| Holdings | ||
| Holdings in common | 1% | |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method
Risk and return
Apr 16, 2021 to Oct 23, 2026 · 288 weekly returnsEach against its own benchmark: VGSH against SCHO, Aug 13, 2010 to Oct 23, 2026; VUSB against AGG, Apr 16, 2021 to Oct 23, 2026.
VUSB returned more: +20.0% to +10.2%. VUSB swung less: 0.8% to 1.8%. VUSB fell less at its worst: −1.7% to −5.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | VGSH | VUSB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +10.2% | +20.0% | VUSB | Price change plus distributions, reinvested. |
| Annualized | +1.8% | +3.3% | VUSB | Total return as a yearly rate. |
| Price return | −6.1% | −1.0% | VUSB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.8% | 0.8% | VUSB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 1.4% | 0.6% | VUSB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.5% | −1.7% | VUSB | Deepest fall from a high to the low after it. |
| Upside capture | 97.7% | 17.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 96.0% | −1.3% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.98 | 0.10 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.45 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | −0.99 | −0.33 | VUSB | Return above Treasury bills per unit of volatility. |
| Sortino | −1.32 | −0.45 | VUSB | Return above Treasury bills per unit of downside deviation. |
| Treynor | −0.002 | −0.027 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.32 | 1.96 | VUSB | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SCHO | AGG | The ETF each fund is measured against. | |
| Alpha | 0.0% a year | +0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.22 | 0.27 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.1% to +0.2% | −0.4% to +0.6% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.07 | 0.63 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.3% | 5.1% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 288 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, VGSH and VUSB hold 1% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
1% in common
Only in one fund ↓
Side by side
VGSH and VUSB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
VGSH and VUSB do different jobs. What does each one do in a portfolio?
- What each follows. VGSH follows Bloomberg U.S. Treasury 1-3 Year Index and VUSB follows No index, actively managed.
- Holdings in common. 1% of the weight is in the same securities (holdings dated May 31, 2026 and Jun 30, 2026).
- Number of holdings. VGSH holds 93 positions and VUSB holds 1344.
Data as of Oct 28, 2026.
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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.
VUSB
VUSB is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +3.5% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.10% a year.
Questions people ask
- Which returned more over the last year, VGSH or VUSB?
- In the year to Oct 28, 2026, with distributions reinvested, VGSH returned +1.7% and VUSB +3.5%.
- Which is cheaper, VGSH or VUSB?
- VGSH is cheaper, by 0.07 percentage points a year. That is about $7 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, VGSH against VUSB, data as of Oct 28, 2026. https://etfiq.com/compare/any/vgsh-vs-vusb
ETFIQ. (Oct 28, 2026). VGSH against VUSB. Retrieved from https://etfiq.com/compare/any/vgsh-vs-vusb
[VGSH against VUSB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/vgsh-vs-vusb)
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