GBND vs. VTG

Last updated Jul 17, 2026

GBND (Goldman Sachs Core Bond ETF) and VTG (Vanguard Total Treasury ETF) are both exchange-traded funds - GBND is a Intermediate Core Bond fund managed by Goldman Sachs, while VTG is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Over the past year, GBND returned 4.56% vs 3.29% for VTG. Their correlation of 0.92 suggests significant overlap in exposure. GBND charges 0.25%/yr vs 0.03%/yr for VTG.

Performance

GBND vs. VTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Core Bond ETF (GBND) and Vanguard Total Treasury ETF (VTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GBND achieves a 0.17% return, which is significantly higher than VTG's -0.10% return.

GBND

• 1D: 0.02%
• 1M: -0.50%
• 6M: -0.12%
• YTD: 0.17%
• 1Y: 4.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTG

• 1D: -0.04%
• 1M: -0.48%
• 6M: -0.27%
• YTD: -0.10%
• 1Y: 3.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GBND vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
GBND Goldman Sachs Core Bond ETF	0.17%	4.21%
VTG Vanguard Total Treasury ETF	-0.10%	3.07%

Correlation

The correlation between GBND and VTG 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 (All Time) Calculated using the full available price history since Jul 9, 2025	0.92

The correlation between GBND and VTG has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

Return for Risk

GBND vs. VTG — Risk / Return Rank

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

GBND

GBND Risk / Return Rank: 41
GBND Sharpe Ratio Rank: 44
GBND Sortino Ratio Rank: 44
GBND Omega Ratio Rank: 42
GBND Calmar Ratio Rank: 40
GBND Martin Ratio Rank: 37

VTG

VTG Risk / Return Rank: 29
VTG Sharpe Ratio Rank: 31
VTG Sortino Ratio Rank: 31
VTG Omega Ratio Rank: 28
VTG Calmar Ratio Rank: 28
VTG Martin Ratio Rank: 27

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.

GBND vs. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Core Bond ETF (GBND) and Vanguard Total Treasury ETF (VTG). 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.

	GBND	VTG	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.94	+0.32
Sortino ratio: Return per unit of downside risk	1.85	1.41	+0.44
Omega ratio: Gain probability vs. loss probability	1.23	1.17	+0.06
Calmar ratio: Return relative to maximum drawdown	1.66	1.14	+0.51
Martin ratio: Return relative to average drawdown	4.62	2.94	+1.68

GBND vs. VTG - Sharpe Ratio Comparison

The current GBND Sharpe Ratio is 1.26, which is higher than the VTG Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of GBND and VTG, 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

GBND vs. VTG - Drawdown Comparison

The maximum GBND drawdown since its inception was -2.76%, roughly equal to the maximum VTG drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for GBND and VTG.

Drawdown Indicators

	GBND	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-2.76%	-2.89%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.89%	+0.13%
Current Drawdown Current decline from peak	-1.56%	-1.88%	+0.32%
Average Drawdown Average peak-to-trough decline	-0.71%	-0.84%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.12%	-0.13%

Volatility

GBND vs. VTG - Volatility Comparison

The current volatility for Goldman Sachs Core Bond ETF (GBND) is 0.99%, while Vanguard Total Treasury ETF (VTG) has a volatility of 1.05%. This indicates that GBND experiences smaller price fluctuations and is considered to be less risky than VTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBND	VTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	1.05%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.89%	2.65%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	3.52%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.64%	3.52%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.64%	3.52%	+0.12%

GBND vs. VTG - Expense Ratio Comparison

GBND has a 0.25% expense ratio, which is higher than VTG's 0.03% 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

GBND vs. VTG - Dividend Comparison

GBND's dividend yield for the trailing twelve months is around 3.84%, more than VTG's 3.54% yield.

Position	TTM	2025
GBND Goldman Sachs Core Bond ETF	3.84%	2.20%
VTG Vanguard Total Treasury ETF	3.54%	1.65%

Frequently Asked Questions

Can I hold both GBND and VTG in my portfolio?

With a correlation of 0.92, GBND and VTG 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.

Which is riskier, GBND or VTG?

VTG has higher volatility (1.05%) compared to GBND (0.99%). In terms of maximum drawdown, GBND dropped -2.76% vs VTG's -2.89%.

Which ETF is better, GBND or VTG?

On 1-year performance, GBND leads with 4.56% vs 3.29% for VTG. On fees, VTG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GBND or VTG?

Over the 1-year period, GBND has performed better with a 4.56% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GBND or VTG?

VTG is cheaper with a 0.03% expense ratio, compared with 0.25% for GBND.

Which ETF pays a higher dividend yield, GBND or VTG?

GBND has the higher dividend yield at 3.84%, compared with 3.54% for VTG.

What is the main difference between GBND and VTG?

GBND is categorized as Intermediate Core Bond, while VTG is Government Bonds. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.25% for GBND and 0.03% for VTG.

Which has better risk-adjusted returns?

GBND currently has the higher Sharpe Ratio (1.26 vs 0.94), 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.