VGSH vs VOE
Vanguard Short Term Treasury ETF vs Vanguard Morningstar Mid-Cap Value ETF
Quick Verdict
VGSH has a lower expense ratio. VOE delivered stronger 1-year returns. VOE offers more diversification with 176 holdings.
Side-by-Side Comparison
| Metric | VGSH | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $30.2B | $23.9B | |
| Dividend Yield | 3.85% | 1.81% | |
| Holdings | 94 | 176 | |
| YTD Return | +0.90% | +16.11% | |
| 1Y Return | +2.39% | +22.28% | |
| 3Y Return (annualized) | +4.25% | +17.36% | |
| 5Y Return (annualized) | +1.90% | +9.56% | |
| Volatility (annualized) | 1.4% | 17.5% | |
| Max Drawdown | -6.7% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Nov 19, 2009 | Aug 17, 2006 |
VGSH vs VOE Performance
Vanguard Short Term Treasury ETF (VGSH) is a ETF from Vanguard (US) and Vanguard Morningstar Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VGSH returned +2.39% while VOE returned +22.28%. Year to date, VGSH is up 0.90% versus a gain of 16.11% for VOE.
Over three years, VGSH compounded at +4.25% per year against +17.36% for VOE; over five years the annualized figures are +1.90% and +9.56% respectively. Across the full 17-year window we track, VOE has the edge at +7.88% annualized vs +0.72%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.5% compared with 1.4% for VGSH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.7% for VGSH and -63.4% for VOE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
VGSH charges 0.03% per year while VOE charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, VGSH currently yields 3.85% against 1.81% for VOE.
Holdings Overlap
VGSH and VOE share 0 holdings out of 185 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VGSH or VOE?
VGSH has an expense ratio of 0.03% while VOE charges 0.05%. VGSH is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, VGSH or VOE?
Over the past year VGSH returned +2.39% vs +22.28% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (17 years), VGSH annualized +0.72% vs +7.88% for VOE. Past performance does not guarantee future results.
Which is riskier, VGSH or VOE?
VOE has been the more volatile fund at 17.5% annualized versus 1.4% for VGSH. Worst drawdown: VGSH -6.7% vs VOE -63.4%.
Should I hold both VGSH and VOE?
VGSH and VOE have a monthly-return correlation of -0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VGSH and VOE?
VGSH and VOE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 185 unique securities.
Which pays a higher dividend, VGSH or VOE?
VGSH yields 3.85% while VOE yields 1.81%, so VGSH currently pays the higher dividend yield.
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