Short-Term Treasury ETF (VGSH)

OPTIONS as of
12/21/2017

Options Expense ratio Minimum
Admiral 0.07% N/A
Inst 0.05% $5.0 Million
ETF 0.07%

Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value.

About our options  


 

KEY FACTS

Product type: Short Government
VGSH
 inception on 11/19/2009
$3.8 billion

This represents the total net assets for all share classes of Vanguard's U.S. funds, as well as any collective trust that shares the same investment strategy, management and holdings.

 as of 05/31/2018
$2.6 billion net assets for
VGSH
 as of 05/31/2018
93 holdings as of 05/31/2018
Indexed to the BloomBarc US 1-3 Year Treasury Idx (BFA3TRUU)
Turnover rate (Fiscal year-end  08/31/2017) 60.10%
CUSIP: 92206C102

TRADING

Intraday Optimized Value Ticker
Intraday Optimized Value (IOV), also known as the Intraday Indicative Value (IIV), is the calculated per share price of the ETF which is published every 15 seconds based on the last sale price of each of the underlying securities in the portfolio basket, plus any estimated cash amounts associated with the creation unit.

 VGSH.IV
Outstanding shares: 41,647,516 as of 05/31/2018
ETF exchange: NASDAQ Stock Exchange

STYLEBOX

Bond
Portfolio of short-term U.S. Treasury bonds.



Central tendency
Expected range

How to read our stylebox  

Investment approach



  • Seeks to track the performance of the Bloomberg Barclays US Treasury 1-3 Year Bond Index.
  • Diversified exposure to the short-term investment-grade U.S. Treasury market.
  • Follows a passively managed, index-sampling approach.
  • Provides current income with high credit quality.

Total returns

as of 03/31/2018

View as:

as of 03/31/2018

1%
0
-1%
 
 
 
 
  1 year 3 year 5 year 10 year

11/19/2009

Market price  – 0.05% 0.34% 0.44% 0.70%
NAV 
– 0.05% 0.32% 0.43% 0.69%

Spliced Bloomberg Barclays U.S. Treasury 1-3 Year Index in USD

*
0.01% 0.40% 0.52%

* Bloomberg Barclays US 1–3 Year Government Float Adjusted Index through December 11, 2017; Bloomberg Barclays US Treasury 1–3 Year Bond Index thereafter.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.


Distribution by credit quality(% of fund) as of 05/31/2018

  Credit rating  VGSH
U.S. Government 99.9%
Aaa 0.1%
Aa 0.0%
A 0.0%
Baa 0.0%
< Baa 0.0%
0%
100%
Total 100.0%
* Credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). ”NR” is used to classify securities for which a rating is not available. NR securities may include a fund’s investment in Vanguard Market Liquidity Fund or Vanguard Municipal Cash Management Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts. U.S. Treasury, U.S. Agency, and U.S. Agency mortgage-backed securities appear under ”U.S. Government.” Credit-quality ratings for each issue are obtained from Barclays using ratings derived from Moody’s Investors Service (Moody’s), Fitch Ratings (Fitch), and Standard & Poor’s (S&P). When ratings from all three agencies are available, the median rating is used. When ratings are available from two of the agencies, the lower rating is used. When one rating is available, that rating is used.

Fundamentals

Bond
as of 05/31/2018
VGSH

Bloomberg Barclays U.S. 1-3 Year Treasury Index

Number of bonds 93 96
Yield to maturity 2.42% 2.42%
Short-term reserves 0.78% N/A
Average duration 1.9 (years) 1.9 (years)

Average effective maturity (taxable bond funds and balanced funds except Tax-Managed Balanced)
Average Effective Maturity is defined as the average length of time until fixed income securities held by a fund reach maturity and are repaid, taking into consideration that an action such as a call or refunding may cause some bonds to be repaid before they mature.

Average stated maturity (municipal bond funds and Tax-Managed Balanced)
Average stated maturity represents the average of the stated maturity dates for all fixed income securities held by the fund.

Average maturity (money market funds only)
Average maturity represents the weighted average maturity of the fund's holdings using the date of the next interest rate adjustment for certain adjustable-rate securities held by the fund.

2.0 (years) 2.0 (years)
Average coupon 1.77% 1.84%

Risk and volatility as of 05/31/2018

  VGSH

Spliced Bloomberg Barclays U.S. Treasury 1-3 Year Index in USD

R-squared N/A 1.00
Beta N/A 1.01
Alpha – 0.01 N/A
Standard deviation 0.76% 0.76%
Sharpe ratio – 0.32 – 0.23

Risk and volatility are based on the share class with the earliest inception date.

Risk measures are calculated from trailing 36-month fund returns relative to the associated benchmarks.

The fund is designed for investors with a low tolerance for risk, but you could still lose money by investing in it. Although Short-Term Treasury ETF is listed for trading on the Nasdaq, it is possible that an active trading market may not be maintained. Trading of Short-Term Treasury ETF on the Nasdaq may be halted if Nasdaq officials deem such action appropriate, if Short-Term Treasury ETF is delisted from the Nasdaq, or if the activation of marketwide “circuit breakers” halts stock trading generally. The fund’s performance could be hurt by:

  • Interest rate risk: The chance that bond prices will decline because of rising interest rates. Interest rate risk should be low for the fund because it invests primarily in short-term bonds, whose prices are much less sensitive to interest rate changes than are the prices of longer term bonds.
  • Income risk: The chance that the fund’s income will decline because of falling interest rates.
  • Credit risk: The chance that a bond issuer will fail to pay interest or principal in a timely manner or that negative perceptions of the issuer’s ability to make such payments will cause the price of that bond to decline. Credit risk should be very low for the fund because it invests primarily in bonds issued by the U.S. Treasury.
  • Index sampling risk: The chance that the securities selected for the fund, in the aggregate, will not provide investment performance matching that of the index. Index sampling risk for the fund should be low.




Vanguard ETF Shares can be bought and sold only through a broker (who may charge a commission) and cannot be redeemed with the issuing fund. The market price of Vanguard ETF Shares may be more or less than net asset value. Investments are subject to market risk. Go to the performance page to read more about risk and volatility.