ANGL vs. IGOV
ANGL (VanEck Fallen Angel High Yield Bond ETF) and IGOV (iShares International Treasury Bond ETF) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the ICE US Fallen Angel High Yield 10% Constrained Index, while IGOV is a International Government Bonds fund tracking the FTSE World Government Bond Index - Developed Markets Capped Select Index. Both are passively managed. Over the past 10 years, ANGL returned 5.82%/yr vs -1.56%/yr for IGOV. At a 0.23 correlation, their price movements are largely independent. ANGL charges 0.25%/yr vs 0.35%/yr for IGOV.
Performance
ANGL vs. IGOV - Performance Comparison
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Returns By Period
In the year-to-date period, ANGL achieves a 1.90% return, which is significantly higher than IGOV's -2.59% return. Over the past 10 years, ANGL has outperformed IGOV with an annualized return of 5.82%, while IGOV has yielded a comparatively lower -1.56% annualized return.
ANGL
- 1D
- -0.24%
- 1M
- 0.04%
- 6M
- 1.26%
- YTD
- 1.90%
- 1Y
- 6.47%
- 3Y*
- 7.95%
- 5Y*
- 2.91%
- 10Y*
- 5.82%
IGOV
- 1D
- -0.64%
- 1M
- -2.21%
- 6M
- -2.66%
- YTD
- -2.59%
- 1Y
- -2.78%
- 3Y*
- 0.77%
- 5Y*
- -4.59%
- 10Y*
- -1.56%
ANGL vs. IGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Fallen Angel High Yield Bond ETF | 1.90% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
IGOV iShares International Treasury Bond ETF | -2.59% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 10.88% | 3.76% | -2.60% | 11.38% |
Correlation
The correlation between ANGL and IGOV is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.23 |
Over the past year, ANGL and IGOV have become more correlated (0.58) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
ANGL vs. IGOV — Risk / Return Rank
ANGL
IGOV
ANGL vs. IGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Fallen Angel High Yield Bond ETF (ANGL) and iShares International Treasury Bond ETF (IGOV). 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.
| ANGL | IGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.95 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | -0.49 | +2.09 |
| Martin ratioReturn relative to average drawdown | 6.75 | -1.06 | +7.80 |
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Drawdowns
ANGL vs. IGOV - Drawdown Comparison
The maximum ANGL drawdown since its inception was -29.31%, smaller than the maximum IGOV drawdown of -35.88%. Use the drawdown chart below to compare losses from any high point for ANGL and IGOV.
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Drawdown Indicators
| ANGL | IGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -35.88% | +6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -5.70% | +1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -5.48% | -10.65% | +5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -19.25% | -32.92% | +13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -29.31% | -35.88% | +6.57% |
Current DrawdownCurrent decline from peak | -0.75% | -25.60% | +24.85% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -11.09% | +7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 2.63% | -1.67% |
Volatility
ANGL vs. IGOV - Volatility Comparison
The current volatility for VanEck Fallen Angel High Yield Bond ETF (ANGL) is 1.01%, while iShares International Treasury Bond ETF (IGOV) has a volatility of 1.96%. This indicates that ANGL experiences smaller price fluctuations and is considered to be less risky than IGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ANGL | IGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.96% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 6.37% | -2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 8.07% | -3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.64% | 9.97% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 8.60% | +0.63% |
ANGL vs. IGOV - Expense Ratio Comparison
ANGL has a 0.25% expense ratio, which is lower than IGOV's 0.35% expense ratio.
Dividends
ANGL vs. IGOV - Dividend Comparison
ANGL's dividend yield for the trailing twelve months is around 6.48%, more than IGOV's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Fallen Angel High Yield Bond ETF | 6.48% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
IGOV iShares International Treasury Bond ETF | 1.45% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
Frequently Asked Questions
ANGL and IGOV have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGOV has higher volatility (1.96%) compared to ANGL (1.01%). In terms of maximum drawdown, ANGL dropped -29.31% vs IGOV's -35.88%.
On 10-year performance, ANGL leads with 5.82% vs -1.56% for IGOV. On fees, ANGL is cheaper at 0.25% per year. On volatility, ANGL has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ANGL has performed better with a 5.82% return vs -1.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ANGL is cheaper with a 0.25% expense ratio, compared with 0.35% for IGOV.
ANGL has the higher dividend yield at 6.48%, compared with 1.45% for IGOV.
ANGL is categorized as High Yield Bonds, while IGOV is International Government Bonds. ANGL tracks ICE US Fallen Angel High Yield 10% Constrained Index, while IGOV tracks FTSE World Government Bond Index - Developed Markets Capped Select Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.25% for ANGL and 0.35% for IGOV.
ANGL currently has the higher Sharpe Ratio (1.51 vs -0.35), 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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