FLGV vs. VGVT

Last updated Jul 14, 2026

FLGV (Franklin Liberty U.S. Treasury Bond ETF) and VGVT (Vanguard Government Securities Active ETF) are both exchange-traded funds - FLGV is a Government Bonds fund actively managed by Franklin Templeton, while VGVT is a Intermediate Core Bond fund actively managed by Vanguard. Both are actively managed. Over the past year, FLGV returned 2.92% vs 3.46% for VGVT. Their correlation of 0.89 suggests significant overlap in exposure. FLGV charges 0.09%/yr vs 0.10%/yr for VGVT.

Performance

FLGV vs. VGVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty U.S. Treasury Bond ETF (FLGV) and Vanguard Government Securities Active ETF (VGVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLGV achieves a -0.28% return, which is significantly lower than VGVT's -0.14% return.

FLGV

• 1D: -0.27%
• 1M: -0.51%
• 6M: -0.37%
• YTD: -0.28%
• 1Y: 2.92%
• 3Y*: 2.87%
• 5Y*: -0.43%
• 10Y*: —

VGVT

• 1D: -0.19%
• 1M: -0.33%
• 6M: -0.37%
• YTD: -0.14%
• 1Y: 3.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLGV vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
FLGV Franklin Liberty U.S. Treasury Bond ETF	-0.28%	3.18%
VGVT Vanguard Government Securities Active ETF	-0.14%	3.56%

Correlation

The correlation between FLGV and VGVT is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.89

The correlation between FLGV and VGVT has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

Return for Risk

FLGV vs. VGVT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLGV

FLGV Risk / Return Rank: 26
FLGV Sharpe Ratio Rank: 27
FLGV Sortino Ratio Rank: 26
FLGV Omega Ratio Rank: 24
FLGV Calmar Ratio Rank: 27
FLGV Martin Ratio Rank: 26

VGVT

VGVT Risk / Return Rank: 34
VGVT Sharpe Ratio Rank: 36
VGVT Sortino Ratio Rank: 38
VGVT Omega Ratio Rank: 34
VGVT Calmar Ratio Rank: 31
VGVT Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLGV vs. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Treasury Bond ETF (FLGV) and Vanguard Government Securities Active ETF (VGVT). 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.

	FLGV	VGVT	Difference
Sharpe ratio: Return per unit of total volatility	0.79	1.07	-0.28
Sortino ratio: Return per unit of downside risk	1.20	1.60	-0.40
Omega ratio: Gain probability vs. loss probability	1.14	1.19	-0.05
Calmar ratio: Return relative to maximum drawdown	1.04	1.25	-0.21
Martin ratio: Return relative to average drawdown	2.77	3.30	-0.54

FLGV vs. VGVT - Sharpe Ratio Comparison

The current FLGV Sharpe Ratio is 0.79, which is comparable to the VGVT Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of FLGV and VGVT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLGV vs. VGVT - Drawdown Comparison

The maximum FLGV drawdown since its inception was -17.63%, which is greater than VGVT's maximum drawdown of -2.77%. Use the drawdown chart below to compare losses from any high point for FLGV and VGVT.

Drawdown Indicators

	FLGV	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-17.63%	-2.77%	-14.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.77%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-5.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	—	—
Current Drawdown Current decline from peak	-5.86%	-2.00%	-3.86%
Average Drawdown Average peak-to-trough decline	-8.67%	-0.77%	-7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	1.05%	+0.01%

Volatility

FLGV vs. VGVT - Volatility Comparison

Franklin Liberty U.S. Treasury Bond ETF (FLGV) has a higher volatility of 1.25% compared to Vanguard Government Securities Active ETF (VGVT) at 1.02%. This indicates that FLGV's price experiences larger fluctuations and is considered to be riskier than VGVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLGV	VGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.25%	1.02%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	2.49%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	3.24%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	3.25%	+2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	3.25%	+1.88%

FLGV vs. VGVT - Expense Ratio Comparison

FLGV has a 0.09% expense ratio, which is lower than VGVT's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FLGV vs. VGVT - Dividend Comparison

FLGV's dividend yield for the trailing twelve months is around 4.21%, less than VGVT's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FLGV Franklin Liberty U.S. Treasury Bond ETF	4.21%	4.07%	4.13%	3.46%	2.21%	1.92%	0.97%
VGVT Vanguard Government Securities Active ETF	4.38%	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLGV and VGVT in my portfolio?

FLGV and VGVT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLGV or VGVT?

FLGV has higher volatility (1.25%) compared to VGVT (1.02%). In terms of maximum drawdown, FLGV dropped -17.63% vs VGVT's -2.77%.

Which ETF is better, FLGV or VGVT?

On 1-year performance, VGVT leads with 3.46% vs 2.92% for FLGV. On fees, FLGV is cheaper at 0.09% per year. On volatility, VGVT has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLGV or VGVT?

Over the 1-year period, VGVT has performed better with a 3.46% return vs 2.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLGV or VGVT?

FLGV is cheaper with a 0.09% expense ratio, compared with 0.10% for VGVT.

Which ETF pays a higher dividend yield, FLGV or VGVT?

VGVT has the higher dividend yield at 4.38%, compared with 4.21% for FLGV.

What is the main difference between FLGV and VGVT?

FLGV is categorized as Government Bonds, while VGVT is Intermediate Core Bond. They also come from different issuers: Franklin Templeton and Vanguard. Their fees differ too: 0.09% for FLGV and 0.10% for VGVT.

Which has better risk-adjusted returns?

VGVT currently has the higher Sharpe Ratio (1.07 vs 0.79), 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.