At a glance
SHAG charges 0.12% a year, above the 0.1% average of the 7 funds most like it (the 6th cheapest of 8). It has $47.1M in assets, the 8th largest of that group; it paid 4.79% of its price in distributions over the past 12 months, monthly. Over the past year it returned +1.1% with distributions reinvested, 7th of those 8 funds; over three years it returned +4.8% a year. At its worst it fell 5.8% in the 2020 crash (S&P 500: 33.7%) and 7.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 22 months after the lows. Its ten largest positions make up 13.9% of the fund, out of 1,196 in all.
The short version
WisdomTree Yield Enhanced U.S. Short-Term Aggregate Bond Fund (SHAG) tracks the Bloomberg U.S. Short Aggregate Enhanced Yield Index, a mix of higher-rated U.S. bonds that generally mature in less than five years. The index leans toward the sectors that pay more, which mostly means corporate bonds, instead of weighting sectors by size. The trade-offs are a 0.12% expense ratio, compared with 0.03% at Vanguard's short-term bond ETFs, and only $47.1 million in assets as of August 31, 2026.
Price history
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SHAG +1.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SHAG official prospectus, to Dec 31, 2024 | — | +4.18% | — | +1.12% | — | +1.69% |
| Bloomberg U.S. Short Aggregate Enhanced Yield Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +4.49% | — | +1.06% | — | +1.75% |
| Bloomberg U.S. Short Aggregate Composite Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +3.77% | — | +1.25% | — | +1.67% |
| Index23 index, same period | — | +1.25% | — | -0.33% | — | +1.08% |
| SHAG price data to Oct 27, 2026 | +0.6% | +1.1% | +4.8% | +1.8% | — | +2.1% |
- Over the year to Oct 27, 2026, SHAG returned +1.1%, 7th of 8 among similar funds.
- Its 5-year annualized return was +1.8%.
- In the 2020 COVID crash it fell 5.8% and regained its old high 2 months after the low.
- Its worst full calendar year was 2022 (-6.3%); its best was 2025 (+6.3%).
- The deepest fall in its price history was 9.6% (Aug 3, 2021 to Oct 20, 2022), recovered by Aug 2, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.6% | — |
| 2025 | +6.3% | — |
| 2024 | +4.3% | +4.18% |
| 2023 | +4.7% | +4.56% |
| 2022 | -6.3% | -6.36% |
| 2021 | -0.9% | -0.76% |
| 2020 | +4.7% | +4.45% |
| 2019 | +5.8% | +6.07% |
| 2018 | +0.9% | +0.88% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 3.2% over that stretch · deepest drop along the way 5.8%, back to its old high 2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 7.5% over that stretch · deepest drop along the way 7.8%, back to its old high 21.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.7200 | |
| 2025 | $2.0900 | -1.9% |
| 2024 | $2.1300 | +44.9% |
| 2023 | $1.4700 | +122.7% |
| 2022 | $0.6600 | +34.7% |
| 2021 | $0.4900 | -59.5% |
| 2020 | $1.2100 | -12.3% |
| 2019 | $1.3800 | +7.8% |
| 2018 | $1.2800 |
What's inside
As of Aug 31, 2026, the fund held 1,196 securities; the ten largest made up 13.92% of assets, and 2.55% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 2.55% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 2.40% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 2.08% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 2.04% | |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION Bonds and notes | 1.29% | |
| TENNESSEE VALLEY AUTHORITY (TN) Bonds and notes | 0.92% | |
| FEDERAL HOME LOAN BANKS Bonds and notes | 0.71% | |
| FORD MOTOR CREDIT COMPANY LLC Bonds and notes | 0.66% | |
| BANK5 2024-5YR12 Other asset-backed | 0.64% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 0.63% | |
| FEDERAL HOME LOAN MORTGAGE CORP Other asset-backed | 0.63% | |
| FEDERAL HOME LOAN MORTGAGE CORP Other asset-backed | 0.63% | |
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 0.62% | |
| BBCMS MORTGAGE TRUST 2019-C3 Other asset-backed | 0.61% | |
| FEDERAL HOME LOAN MORTGAGE CORP Other asset-backed | 0.60% |
By country
United States 87.74%Canada 1.96%United Kingdom 1.84%Japan 1.75%Spain 0.62%By issuer
Companies 65.27%US Treasury 18.09%US government-sponsored enterprises 11.51%Foreign governments 1.87%US government agencies 0.92%The bonds mature in 4.1 years on average (weighted by size), with an average coupon of 3.88%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $4.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.12%, -0.14%, +0.24%.
How it works
The index starts with the short-term part of the Bloomberg US Aggregate Index. That covers Treasuries, government-related bonds, corporate bonds, and mortgage- and asset-backed securities, generally with effective maturities under five years. Each bond must pay a fixed rate, have at least $300 million outstanding and have at least a year left before it matures. A plain index would weight these groups by market size. This one uses rules to shift weight toward the higher-yielding groups. Limits on sector, credit quality, turnover and duration keep it from drifting too far. Duration measures how much a bond's price reacts to interest rates. The index's duration generally can't exceed the broad short-term market's by more than 0.5 years, and that market has historically run between about two and three years. Within each group, bonds are weighted by size. The index rebalances monthly.
WisdomTree runs the fund, with Voya Investment Management as sub-adviser. The fund holds a representative sample of the index rather than every bond, with at least 80% in index securities or close equivalents. Up to 5% may go into below-investment-grade ("junk") bonds rated BB or better. Mortgage exposure often comes through rolling "to-be-announced" contracts, which are agreements to buy mortgage pools later. As of August 31, 2026, the fund held 1,196 issues: 65% corporate, 18% Treasury and 12% government-sponsored enterprises like Fannie Mae. It is legally non-diversified, and its turnover was 106%.
What it really costs
- SHAG charges 0.12% a year, versus an average of 0.1% for the similar funds below (6th of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $12 in the first year and $154 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SHAG | $12 | $39 | $68 | $154 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Its short, mostly investment-grade bonds have historically swung far less than stocks or long-term bonds, while still paying monthly income.
SHAG's short maturities keep its price swings small: three-year volatility was 2.3% as of October 27, 2026. It is not cash, though. In the 2020 COVID sell-off it fell 5.8% in two weeks, then recovered by May 20, 2020. Rising rates in 2022 did more damage. The fund lost 6.36% that year, its worst calendar year. Its deepest drop, 9.6% from August 2021 to October 2022, wasn't recovered until August 2024. A retiree who sold shares in late 2022 would have locked in that loss. The fund launched in 2017, so it has no 2008 record.
The trailing 12-month yield was 4.79% as of October 27, 2026, paid monthly. The 0.12% expense ratio works out to $12 in the first year on $10,000 under the SEC's standard example. That is higher than the 0.03% charged by VCSH and BSV. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income from mostly higher-rated bonds maturing in under five years; the trailing yield was 4.79% as of October 27, 2026.
- People who want a short-term index fund that leans toward corporate bonds; companies made up about 65% of holdings as of August 31, 2026.
- Retirees looking for a low-volatility bond holding who can accept setbacks like the fund's 6.36% loss in 2022.
Look elsewhere if
- Cost-focused investors: Vanguard's VCSH and BSV charge 0.03% a year, compared with SHAG's 0.12%.
- Investors who prefer large, heavily traded funds: SHAG had $47.1 million in assets as of August 31, 2026, the smallest of eight similar funds compared.
- Anyone who needs money that can't drop in value: SHAG fell 9.6% from 2021 to 2022 and didn't recover until August 2024.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SHAG this fund | 4.1 yrs | 0.12% | $47.1M | +1.1% | +4.8% |
| VCSH Vanguard Short-Term Corporate Bond ETF | 3.5 yrs | 0.03% | $51.74B | +1.9% | +5.7% |
| MINT PIMCO Enhanced Short Maturity Active Exchan… | 6.3 yrs | 0.35% | $16.43B | +3.9% | +4.9% |
| JPST JPMorgan Ultra-Short Income ETF | 2 yrs | 0.18% | $41.13B | +3.1% | +4.8% |
| BSV Vanguard Short-Term Bond ETF | 2.9 yrs | 0.03% | $69.75B | +1.7% | +4.5% |
| BIV Vanguard Intermediate-Term Bond ETF | 7.5 yrs | 0.03% | $52.45B | -0.7% | +5.1% |
| SUB iShares Short-Term National Muni Bond ETF | 3.3 yrs | 0.07% | $11.64B | +2.1% | +3.3% |
| VTIP Vanguard Short-Term Inflation-Protected Sec… | 2.4 yrs | 0.03% | $71.01B | +2.8% | +5.3% |
Questions investors ask
Does SHAG pay monthly dividends?
Yes. SHAG pays income monthly. Over the 12 months to October 27, 2026, it paid $2.23 per share, a trailing yield of 4.79%. The payments come from the interest on the fund's bonds, so they can rise or fall as interest rates change and as the fund replaces maturing bonds. The average coupon (the bonds' stated interest rate) was 3.88% as of August 31, 2026.
What's the difference between SHAG and VCSH?
Vanguard's VCSH focuses on short-term corporate bonds. SHAG mixes Treasuries, agency bonds and mortgage-backed securities with a tilt toward corporates. VCSH costs 0.03% a year, compared with 0.12% for SHAG. It is also far larger: $51.7 billion in assets versus $47.1 million as of August 31, 2026. VCSH returned 1.9% over one year and 5.7% a year over three years as of October 30, 2026. SHAG returned 1.1% and 4.8% as of October 27, 2026.
Is SHAG safe for retirement savings?
SHAG is lower-risk than stock funds, but it is not risk-free. It holds mostly higher-rated short-term bonds, and its three-year volatility was 2.3% as of October 27, 2026. Still, it fell 9.6% between August 2021 and October 2022 as rates rose, and it took until August 2024 to recover. It may suit retirees who use it as a defensive holding rather than as a cash substitute.
How did SHAG perform in 2022?
SHAG lost 6.36% in 2022, its worst calendar year, according to its prospectus. Interest rates rose sharply, and bond prices fall when rates rise. Its worst quarter was the first quarter of 2022, at -3.87%. Measured from the August 2021 peak to the October 2022 low, the drop reached 9.6%. The fund made up that loss by August 2024 and returned 6.3% in 2025.
What does SHAG invest in?
SHAG holds a broad mix of short-term U.S. bonds: 1,196 issues as of August 31, 2026. Company bonds made up 65%, Treasuries 18% and government-sponsored enterprises like Fannie Mae and Freddie Mac 12%. The largest holding was a Treasury bill due September 1, 2026, at 2.5%. Other large holdings included Treasury notes, a Fannie Mae bond, a Tennessee Valley Authority bond and Ford Motor Credit debt. The average time to maturity was 4.1 years.