^TNX vs. VT
^TNX (Cboe 10-Year Treasury Note Yield Index) is an index, while VT (Vanguard Total World Stock ETF) is Global Equities fund tracking the FTSE Global All Cap Index. Over the past 10 years, ^TNX returned 10.69%/yr vs 13.03%/yr for VT. At a 0.25 correlation, their price movements are largely independent.
Performance
^TNX vs. VT - Performance Comparison
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Returns By Period
In the year-to-date period, ^TNX achieves a 7.35% return, which is significantly lower than VT's 12.78% return. Over the past 10 years, ^TNX has underperformed VT with an annualized return of 10.69%, while VT has yielded a comparatively higher 13.03% annualized return.
^TNX
- 1D
- -0.40%
- 1M
- -2.74%
- YTD
- 7.35%
- 6M
- 6.86%
- 1Y
- 1.02%
- 3Y*
- 5.84%
- 5Y*
- 23.29%
- 10Y*
- 10.69%
VT
- 1D
- 1.55%
- 1M
- 3.39%
- YTD
- 12.78%
- 6M
- 13.56%
- 1Y
- 29.41%
- 3Y*
- 19.92%
- 5Y*
- 11.15%
- 10Y*
- 13.03%
^TNX vs. VT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^TNX Cboe 10-Year Treasury Note Yield Index | 7.35% | -8.97% | 18.29% | -0.34% | 156.55% | 64.89% | -52.21% | -28.56% | 11.68% | -1.68% |
VT Vanguard Total World Stock ETF | 12.78% | 22.43% | 16.49% | 22.02% | -18.00% | 18.27% | 16.59% | 26.81% | -9.76% | 24.50% |
Correlation
The correlation between ^TNX and VT is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008 | 0.25 |
The correlation between ^TNX and VT shifts across timeframes, from -0.30 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^TNX vs. VT — Risk / Return Rank
^TNX
VT
^TNX vs. VT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cboe 10-Year Treasury Note Yield Index (^TNX) and Vanguard Total World Stock ETF (VT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^TNX | VT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.40 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 3.05 | -2.97 |
| Martin ratioReturn relative to average drawdown | 0.15 | 13.29 | -13.13 |
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Drawdowns
^TNX vs. VT - Drawdown Comparison
The maximum ^TNX drawdown since its inception was -96.85%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for ^TNX and VT.
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Drawdown Indicators
| ^TNX | VT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.85% | -50.27% | -46.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -9.67% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -27.41% | -16.51% | -10.90% |
Max Drawdown (5Y)Largest decline over 5 years | -27.41% | -26.38% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -84.57% | -34.24% | -50.33% |
Current DrawdownCurrent decline from peak | -71.79% | -0.40% | -71.39% |
Average DrawdownAverage peak-to-trough decline | -55.00% | -7.01% | -47.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 2.22% | +4.37% |
Volatility
^TNX vs. VT - Volatility Comparison
The current volatility for Cboe 10-Year Treasury Note Yield Index (^TNX) is 5.03%, while Vanguard Total World Stock ETF (VT) has a volatility of 5.46%. This indicates that ^TNX experiences smaller price fluctuations and is considered to be less risky than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^TNX | VT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 5.46% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 11.11% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.13% | 13.41% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.36% | 16.17% | +16.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.98% | 17.28% | +30.70% |
Frequently Asked Questions
^TNX and VT have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VT has higher volatility (5.46%) compared to ^TNX (5.03%). In terms of maximum drawdown, ^TNX dropped -96.85% vs VT's -50.27%.
VT currently has the higher Sharpe Ratio (2.21 vs 0.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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