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Vanguard Short-Term Treasury ETF

VGSHNasdaqVanguardA

$57.73−0.01 (−0.02%)

At close: Nov 2, 2026, 4:00 PM ET

Intraday session: down, 79 prints from 57.74 to 57.73. Range 57.71 to 57.76. Use the arrow keys to read each point.57.7157.7257.7557.7610 AM12 PM2 PM4 PM
Expense ratio
0.03%
Fund size · all share classes
$39.6B
1Y total return
+2.2%
Yield · Last 12 months
3.76%
Holdings
95
Avg volume · 30D
4.82M sh
52W range
low $57.38high $59.01
Launched
Filings
SEC EDGAR

The ETF.net VGSH Grade

A

Score 80 out of 100

Rank
2 of 15
Six-pillar profile for VGSH. Scores out of 100: Cost 89, Risk 37, Mission 100, Tradability 71, Holdings 75, Durability 93. Strongest: Mission (100). Weakest: Risk (37). Leans toward Mission.

Score 80 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A89 out of 100
    Rank 1 of 15
  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 14
  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D37 out of 100
    Rank 12 of 15
  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A71 out of 100
    Rank 3 of 15
  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A75 out of 100
    Rank 4 of 15
  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A93 out of 100
    Rank 1 of 15

Our read on VGSH

ETF.net Research

In short

APlain one-to-three-year Treasuries for three basis points, running since 2009. No credit story, no active twist: VGSH owns the short end of the government curve and charges about as little as this category allows.

Stated mandate

The fund seeks to track a market-weighted Treasury index with a short-term dollar-weighted average maturity.

Why people hold it

  • 0.03% a year, against a 0.15% median for 1-3 year Treasury funds. Same fee floor as SCHO and SPTS, and a fifth of what SHY charges for the same slice of the curve.
  • Sticks tightly to the Bloomberg U.S. Treasury 1-3 Year Index, one of the closest-tracking implementations in its peer group.
  • Roughly 90 US Treasury issues, sampled to match the index. No corporates, no mortgages, no derivatives overlay: the only credit question is the US Treasury itself.
  • Pays monthly, and the income resets as short notes mature and newer ones roll in, so it moves with prevailing short-term rates. A multi-billion-dollar fund that trades actively.

Worth knowing

  • Short maturities soften rate moves, they don't erase them. Prices still fall when yields rise, and the fund itself has no maturity date the way a single note does.
  • At the short end the cost race is a tie, not a win: SCHO tracks the same index for the same 0.03%. Differences show up in trading and plumbing, not the fee line.
  • Nothing here reaches for yield: no corporate credit, no inflation linkage, no long bonds. That narrowness is the design, and it behaves nothing like a core bond fund.

VGSH Holdings

Asset class
Bonds
Holdings
95
Top-10 weight
14%
Largest holding
United States Treasury Note/Bond 3.50% 01/31/20282.1%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUnited States Treasury Note/Bond 3.50% 01/31/20282.07%8,275,710$814M16
2No dataUnited States Treasury Note/Bond 4.63% 04/30/20291.43%5,666,610$562M16
3No dataUnited States Treasury Note/Bond 4.00% 07/31/20291.39%5,599,950$546M12
4No dataUnited States Treasury Note/Bond 3.88% 07/15/20281.37%5,482,680$539M15
5No dataUnited States Treasury Note/Bond 4.25% 06/30/20291.35%5,422,800$532M15
6No dataUnited States Treasury Note/Bond 4.50% 05/31/20291.34%5,319,690$526M16
7No dataUnited States Treasury Note/Bond 1.13% 02/29/20281.33%5,509,220$524M10
8No dataUnited States Treasury Note/Bond 3.63% 08/31/20291.33%5,430,520$523M18
9No dataUnited States Treasury Note/Bond 2.88% 05/15/20281.32%5,331,320$517M9
10No dataUnited States Treasury Note/Bond 4.25% 02/28/20291.31%5,241,130$516M12
11No dataUnited States Treasury Note/Bond 4.25% 01/15/20281.30%5,154,250$512M14
12No dataUnited States Treasury Note/Bond 3.38% 02/29/20281.29%5,164,860$507M17
13No dataUnited States Treasury Note/Bond 3.50% 10/31/20271.28%5,111,520$505M10
14No dataUnited States Treasury Note/Bond 3.50% 09/30/20291.28%5,250,000$504M13
15No dataUnited States Treasury Note/Bond 1.25% 04/30/20281.27%5,260,510$498M11

Showing 1–15 of 95 holdings

VGSH Performance

Launched Nov 19, 2009

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

VGSH$10,218
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. VGSH $10,218. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for VGSH. Periods over one year show the average yearly return.
PeriodVGSH
Year to date+1.4%
1 month+1.0%
3 months+0.6%
1 year+2.2%
3 yearsper year+4.2%
5 yearsper year+2.1%
10 yearsper year+1.8%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for VGSH
YearReturn barVGSH
2026 YTD+1.4%
2025+5.1%
2024+4.0%
2023+4.3%

VGSH in the news

VGSH Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.76%Last 12 months
Payout per share
$2.18Last 12 months
Last payment
$0.18 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.12; Mar 1, 2023 $0.12; Apr 3, 2023 $0.14; May 1, 2023 $0.14; Jun 1, 2023 $0.15; Jul 3, 2023 $0.16; Aug 1, 2023 $0.17; Sep 1, 2023 $0.17; Oct 2, 2023 $0.18; Nov 1, 2023 $0.19; Dec 1, 2023 $0.19; Dec 22, 2023 $0.19; Feb 1, 2024 $0.20; Mar 1, 2024 $0.19; Apr 1, 2024 $0.20; May 1, 2024 $0.20; Jun 3, 2024 $0.21; Jul 1, 2024 $0.20; Aug 1, 2024 $0.21; Sep 3, 2024 $0.21; Oct 1, 2024 $0.20; Nov 1, 2024 $0.21; Dec 2, 2024 $0.20; Dec 24, 2024 $0.20; Feb 3, 2025 $0.21; Mar 3, 2025 $0.19; Apr 1, 2025 $0.21; May 1, 2025 $0.20; Jun 2, 2025 $0.20; Jul 1, 2025 $0.19; Aug 1, 2025 $0.20; Sep 2, 2025 $0.20; Oct 1, 2025 $0.19; Nov 3, 2025 $0.19; Dec 1, 2025 $0.19; Dec 18, 2025 $0.19; Feb 2, 2026 $0.19; Mar 2, 2026 $0.17; Apr 1, 2026 $0.19; May 1, 2026 $0.18; Jun 1, 2026 $0.18; Jul 1, 2026 $0.18; Aug 3, 2026 $0.18; Sep 1, 2026 $0.17; Oct 1, 2026 $0.18. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 4, 2026$0.19
Oct 1, 2026Oct 5, 2026$0.18
Sep 1, 2026Sep 3, 2026$0.17
Aug 3, 2026Aug 5, 2026$0.18
Jul 1, 2026Jul 6, 2026$0.18
Jun 1, 2026Jun 3, 2026$0.18
May 1, 2026May 5, 2026$0.18
Apr 1, 2026Apr 6, 2026$0.19
Mar 2, 2026Mar 4, 2026$0.17
Feb 2, 2026Feb 4, 2026$0.19
Dec 18, 2025Dec 22, 2025$0.19
Dec 1, 2025Dec 3, 2025$0.19

See all 204 payments⁠

$10,000 in VGSH 10 years ago paid $2,243 in dividends.⁠

VGSH Risk

How much the fund’s monthly returns vary, scaled to a year.
1.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.18
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−5.4%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.23
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

VGSH Cost

Tied cheapest in Treasuries (1-3 Year)

$638

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • VGSH 0.03%

    $638

$10,000
30 years

Cost over time

  • VGSH 0.03%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$200$400$600$800051015202530VGSH $638

Year by year

YearVGSH
10$55
20$216
30$638

Other funds in Treasuries (1-3 Year)