GOVI vs. VGLT
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, GOVI returned -0.51%/yr vs -1.80%/yr for VGLT. Their 0.96 correlation means they have historically moved very closely together. GOVI charges 0.15%/yr vs 0.03%/yr for VGLT.
Performance
GOVI vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a -2.29% return, which is significantly higher than VGLT's -3.26% return. Over the past 10 years, GOVI has outperformed VGLT with an annualized return of -0.51%, while VGLT has yielded a comparatively lower -1.80% annualized return.
GOVI
- 1D
- -0.45%
- 1M
- -2.40%
- 6M
- -2.30%
- YTD
- -2.29%
- 1Y
- -0.55%
- 3Y*
- 1.08%
- 5Y*
- -3.88%
- 10Y*
- -0.51%
- ALL TIME*
- 2.87%
VGLT
- 1D
- -0.62%
- 1M
- -3.51%
- 6M
- -3.14%
- YTD
- -3.26%
- 1Y
- -1.67%
- 3Y*
- -0.62%
- 5Y*
- -7.07%
- 10Y*
- -1.80%
- ALL TIME*
- 2.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.66M | $4.82M | $7.27M | |
| $95.69M | $98.86M | $108.97M |
GOVI vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -2.29% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
VGLT Vanguard Long-Term Treasury ETF | -3.26% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between GOVI and VGLT is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.96 |
The correlation between GOVI and VGLT has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
GOVI vs. VGLT — Risk / Return Rank
GOVI
VGLT
GOVI vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| GOVI | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.00 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.05 | +0.17 |
| Martin ratioReturn relative to average drawdown | 0.26 | -0.12 | +0.38 |
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Drawdowns
GOVI vs. VGLT - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for GOVI and VGLT.
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Drawdown Indicators
| GOVI | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -46.18% | +13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -7.03% | +1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -9.49% | -13.38% | +3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -40.98% | +12.68% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -46.18% | +13.48% |
Current DrawdownCurrent decline from peak | -23.74% | -38.64% | +14.90% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -15.26% | +5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 3.19% | -0.82% |
Volatility
GOVI vs. VGLT - Volatility Comparison
The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.63%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.24%. This indicates that GOVI experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 2.24% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 4.85% | 6.31% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 8.47% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.81% | 14.45% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 13.75% | -4.68% |
GOVI vs. VGLT - Expense Ratio Comparison
GOVI has a 0.15% expense ratio, which is higher than VGLT'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
GOVI vs. VGLT - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.95%, less than VGLT's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.95% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
VGLT Vanguard Long-Term Treasury ETF | 4.37% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
With a correlation of 0.99, GOVI and VGLT 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.
VGLT has higher volatility (2.24%) compared to GOVI (1.63%). In terms of maximum drawdown, GOVI dropped -32.70% vs VGLT's -46.18%.
On 10-year performance, GOVI leads with -0.51% vs -1.80% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, GOVI has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GOVI has performed better with a -0.51% return vs -1.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVI.
VGLT has the higher dividend yield at 4.37%, compared with 3.95% for GOVI.
GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.15% for GOVI and 0.03% for VGLT.
GOVI currently has the higher Sharpe Ratio (0.10 vs -0.04), 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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