Vanguard Short-Term Treasury ETF VGSH The underlying Bloomberg US Treasury 1-3 Year Bond Index includes fixed income securities issued by the U.S. Treasury all with maturities between 1 and 3 years. Vanguard ShortTerm Treasury ETF (VGSH): ETF Research Reports Volatility may become the name of the game thanks to a host of factors ranging from rising inflation in the United States and other parts of the developed world, fears of a slowdown in China and the resultant pressure on supply chain and global growth, and geopolitical issues.