
Designed to offer significant and steady current income, this ETF primarily invests in U.S. government bonds. Its holdings maintain an average dollar-weighted maturity spanning 10 to 25 years.
Is VGLT's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.

The yield on the 10-year note finished October 23, 2026 at 5.00% while the 2-year note ended at 4.69%. The chart below overlays the daily performance of several Treasury bonds, starting from the pre-recession equity market peaks, along with the Federal Funds Rate (FFR) since 2007.

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Three funds hold government-backed bonds, yet their five-year losses tell a wildly different story. Understanding why one swings so much harder could change which one belongs in your portfolio.

Vanguard's Treasury ETFs—Vanguard Short-Term Treasury ETF, Vanguard Intermediate-Term Treasury ETF, and Vanguard Long-Term Treasury ETF—offer varying risk/return profiles based on maturity and duration, with VGSH rated Buy for its risk profile. Interest rate risk grows with duration; VGLT is most sensitive to rate shifts, while VGSH offers the smoothest ride and lowest volatility. Current macro risks—persistent deficits, inflation, and geopolitical tensions—support a preference for short-duration Treasuries like VGSH.