36BD.DE vs. VAGT.DE
36BD.DE (iShares USD Development Bank Bonds UCITS ETF USD Acc) and VAGT.DE (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - 36BD.DE tracks the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped while VAGT.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 3 years, 36BD.DE returned 1.18%/yr vs 0.08%/yr for VAGT.DE. Their correlation of 0.92 suggests significant overlap in exposure. 36BD.DE charges 0.15%/yr vs 0.05%/yr for VAGT.DE.
Performance
36BD.DE vs. VAGT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36BD.DE achieves a 1.33% return, which is significantly higher than VAGT.DE's 1.07% return.
36BD.DE
- 1D
- 0.05%
- 1M
- 0.81%
- YTD
- 1.33%
- 6M
- 0.62%
- 1Y
- 2.03%
- 3Y*
- 1.18%
- 5Y*
- 1.94%
- 10Y*
- —
VAGT.DE
- 1D
- 0.09%
- 1M
- 0.85%
- YTD
- 1.07%
- 6M
- 0.31%
- 1Y
- 1.96%
- 3Y*
- 0.08%
- 5Y*
- —
- 10Y*
- —
36BD.DE vs. VAGT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
36BD.DE iShares USD Development Bank Bonds UCITS ETF USD Acc | 1.33% | -5.15% | 8.61% | 0.45% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 1.07% | -5.48% | 6.40% | -0.45% |
Correlation
The correlation between 36BD.DE and VAGT.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023 | 0.92 |
The correlation between 36BD.DE and VAGT.DE has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
36BD.DE vs. VAGT.DE — Risk / Return Rank
36BD.DE
VAGT.DE
36BD.DE vs. VAGT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.DE) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE). 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.
| 36BD.DE | VAGT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.05 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.40 | +0.06 |
| Martin ratioReturn relative to average drawdown | 1.13 | 1.00 | +0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 36BD.DE | VAGT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.29 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.05 | +0.13 |
Drawdowns
36BD.DE vs. VAGT.DE - Drawdown Comparison
The maximum 36BD.DE drawdown since its inception was -11.97%, which is greater than VAGT.DE's maximum drawdown of -11.03%. Use the drawdown chart below to compare losses from any high point for 36BD.DE and VAGT.DE.
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Drawdown Indicators
| 36BD.DE | VAGT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.97% | -11.03% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -4.00% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -11.03% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -11.97% | — | — |
Current DrawdownCurrent decline from peak | -6.13% | -7.21% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -5.04% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.61% | -0.06% |
Volatility
36BD.DE vs. VAGT.DE - Volatility Comparison
The current volatility for iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.DE) is 0.74%, while Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) has a volatility of 0.86%. This indicates that 36BD.DE experiences smaller price fluctuations and is considered to be less risky than VAGT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36BD.DE | VAGT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.86% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.65% | 3.76% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.39% | 5.49% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 7.33% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.16% | 7.33% | -0.17% |
36BD.DE vs. VAGT.DE - Expense Ratio Comparison
36BD.DE has a 0.15% expense ratio, which is higher than VAGT.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
36BD.DE vs. VAGT.DE - Dividend Comparison
Neither 36BD.DE nor VAGT.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, 36BD.DE and VAGT.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VAGT.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGT.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for 36BD.DE.
36BD.DE tracks FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped, while VAGT.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for 36BD.DE and 0.05% for VAGT.DE.
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