VGSH vs SHY: Holdings Overlap
VGSHVanguard Short-term Treasury Index Fund
Vanguard · 91 holdings · $30.2B · as of 2026-05-31
SHYiShares 1-3 Year Treasury Bond ETF
iShares · 89 holdings · $25.2B · as of 2026-05-31
How similar are VGSH and SHY?
Vanguard Short-term Treasury Index Fund (VGSH, by Vanguard) holds 91 positions; iShares 1-3 Year Treasury Bond ETF (SHY, by iShares) holds 89. They have 89 holdings in common, and by portfolio weight the two funds are 87.7% identical. In practical terms the pair is essentially interchangeable, so holding both adds little diversification.
- Overlap by Weight
- 87.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 89VGSH holds 91 · SHY holds 89
- Weight in Shared Holdings
- VGSH 97%·SHY 99%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VGSH
2 of 91 positions (2.5% of the fund) are not held by SHY.
- U.S. Treasury Notes1.35%
- U.S. Treasury Notes1.20%
Only in SHY
Every position in SHY is also held by VGSH, so it brings nothing the other fund doesn’t already own.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VGSH | +0.4% | +1.0% | +2.9% | +4.3% | +1.9% | +1.8% | 3.82% |
| SHY | +0.4% | +1.0% | +2.8% | +4.2% | +1.8% | +1.7% | 3.63% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VGSH vs SHY →
Shared Holdings(89)
The top 10 shared positions account for 15% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 2.24% | 1.71% | 1.71% |
|---|---|---|---|
| U.S. Treasury Notes | 1.40% | 1.52% | 1.40% |
| U.S. Treasury Notes | 1.29% | 1.36% | 1.29% |
| U.S. Treasury Notes | 1.31% | 1.29% | 1.29% |
| U.S. Treasury Notes | 1.26% | 1.84% | 1.26% |
| U.S. Treasury Notes | 1.26% | 1.48% | 1.26% |
| U.S. Treasury Notes | 1.25% | 1.28% | 1.25% |
| U.S. Treasury Notes | 1.25% | 1.34% | 1.25% |
| U.S. Treasury Notes | 1.25% | 1.35% | 1.25% |
| U.S. Treasury Notes | 1.23% | 1.25% | 1.23% |
| U.S. Treasury Notes | 1.23% | 1.43% | 1.23% |
| U.S. Treasury Notes | 1.22% | 1.34% | 1.22% |
| U.S. Treasury Notes | 1.20% | 1.33% | 1.20% |
| U.S. Treasury Notes | 1.19% | 1.24% | 1.19% |
| U.S. Treasury Notes | 1.19% | 1.40% | 1.19% |
| U.S. Treasury Notes | 1.19% | 1.35% | 1.19% |
| U.S. Treasury Notes | 1.19% | 1.29% | 1.19% |
| U.S. Treasury Notes | 1.18% | 1.27% | 1.18% |
| U.S. Treasury Notes | 1.18% | 1.38% | 1.18% |
| U.S. Treasury Notes | 1.18% | 1.96% | 1.18% |
| U.S. Treasury Notes | 1.18% | 1.18% | 1.18% |
| U.S. Treasury Notes | 1.18% | 1.33% | 1.18% |
| U.S. Treasury Notes | 1.17% | 1.34% | 1.17% |
| U.S. Treasury Notes | 1.17% | 1.38% | 1.17% |
| U.S. Treasury Notes | 1.19% | 1.16% | 1.16% |
Frequently Asked Questions
How much do VGSH and SHY overlap?
VGSH and SHY overlap by 87.7% of portfolio weight. They share 89 holdings (VGSH holds 91 positions and SHY holds 89), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VGSH and SHY?
The two portfolios are 87.7% identical by weight. Owning both is largely redundant: they are close to the same portfolio, so a second position mostly duplicates the first.
What are the biggest shared holdings of VGSH and SHY?
The largest positions held by both funds are U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. Together the top 10 shared positions account for 15% of the total overlap.
What does VGSH own that SHY doesn't?
2 positions (2.5% of VGSH) are unique to VGSH, led by U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 0 positions (0.0% of SHY) are unique to SHY.