VGSH’s worst drop since 2009 was 6%
Vanguard Short-Term Treasury ETF (VGSH) fell 6% from Apr 2021 to Oct 2022. It took 3.1 years from that peak to close at a new high, in May 2024. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 197th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2009 to now
How VGSH held up in each crash
| Crash | Years | VGSH | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −0.5% | −33.7% |
| 2022 rate shock | 2022 | −4.9% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was VGSH’s maximum drawdown?
VGSH’s deepest fall since 2009 was 5.7%, from its high on April 20, 2021 to its low on October 20, 2022. The figure uses daily prices with dividends reinvested.
How long did VGSH take to recover?
3.1 years. VGSH first closed above its Apr 2021 high again on May 15, 2024.
Was VGSH riskier than the S&P 500?
Over the same years, VGSH’s worst drop was 5.7% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −5.3% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, November 24, 2009 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.