VANGUARD SHORT-TERM TREASURY INDEX FUND
U.S. bond index ETF · tracks Bloomberg U.S. Treasury 1-3 Year Index
As of its 2026 Q2 report, VANGUARD SHORT-TERM TREASURY INDEX FUND held 92 positions with $33.86B in net assets. Its ten largest holdings made up 13.9% of the fund. The VGSH share class costs 0.03% a year. Over the 12 months to May 2026, VGSH returned 3.5%, with dividends reinvested. In 2026 Q2 it added 13 new positions and exited 17.
Vanguard Short-Term Treasury Index Fund (the Fund) seeks to track the performance of a market-weighted Treasury index with a short-term dollar-weighted average maturity.
The fund tracks the Bloomberg U.S. Treasury 1-3 Year Index using a sampling approach, holding a range of Treasury securities maturing between 1 and 3 years that approximate the full index in key risk factors. Because the fund samples rather than holds all index constituents, its returns may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury Note/Bond 3.50% · due 2028-01-31 | 2.23% | $756.98M | — |
United States Treasury Note/Bond 4.63% · due 2029-04-30 | 1.40% | $473.10M | — |
United States Treasury Note/Bond 3.88% · due 2027-07-31 | 1.35% | $456.88M | — |
United States Treasury Note/Bond 4.25% · due 2029-02-28 | 1.30% | $442.06M | — |
United States Treasury Note/Bond 4.13% · due 2029-03-31 | 1.29% | $438.56M | — |
United States Treasury Note/Bond 4.63% · due 2027-06-15 | 1.29% | $435.41M | — |
United States Treasury Note/Bond 4.50% · due 2027-05-15 | 1.26% | $425.83M | — |
United States Treasury Note/Bond 3.75% · due 2027-08-15 | 1.26% | $425.46M | — |
United States Treasury Note/Bond 2.88% · due 2028-08-15 | 1.25% | $424.94M | — |
United States Treasury Note/Bond 3.88% · due 2028-07-15 | 1.25% | $423.24M | — |
All 92 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 99.05% |
| Cash & short-term | 0.11% |
How it has done
VGSH share class · total returns with dividends reinvested
Volatility over the last 12 months: 1.18%. Past returns are a record, not a forecast.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.06% | +3.45% | +12.94% | +9.35% | -0.61% | |
| 0.03% | +3.50% | +12.99% | +9.47% | -0.61% | |
| 0.03% | +3.47% | +12.98% | +9.49% | -0.61% |
These classes hold the same portfolio, so the 0.13pp spread over 5 years is the cost difference between them — roughly 0.03pp a year — not a difference in what they own.
Fees & fund details
VANGUARD SHORT-TERM TREASURY INDEX FUND is a U.S. bond index ETF that tracks the Bloomberg U.S. Treasury 1-3 Year Index.
- Asset class
- Bonds
- Region
- United States
- Management
- Index (passive)
- Fund type
- ETF
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.03% – 0.06%· VGSH 0.03%
- Portfolio turnover
- 93.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
13 new· the largest 1
17 exited· the largest 1
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 5.1% |
| 1-3y | 94.9% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 100% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 1.29 yr | 74% |
| 5 yr | 0.46 yr | 26% |
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +1.29 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.46 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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