GOVP.L vs. VDTA.L
GOVP.L (iShares $ Treasury Bond UCITS ETF) and VDTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - GOVP.L tracks the iShares $ Treasury Bond UCITS ETF while VDTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted index. Both are passively managed. Over the past 5 years, GOVP.L returned -1.21%/yr vs -0.36%/yr for VDTA.L. At a 0.37 correlation, their price movements are largely independent. GOVP.L charges 0.10%/yr vs 0.05%/yr for VDTA.L.
Performance
GOVP.L vs. VDTA.L - Performance Comparison
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Different Trading Currencies
GOVP.L is traded in GBP, while VDTA.L is traded in USD. To make them comparable, the VDTA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GOVP.L achieves a -0.39% return, which is significantly higher than VDTA.L's -0.74% return.
GOVP.L
- 1D
- -0.22%
- 1M
- -0.45%
- 6M
- -0.39%
- YTD
- -0.39%
- 1Y
- 3.25%
- 3Y*
- 2.60%
- 5Y*
- -1.21%
- 10Y*
- —
VDTA.L
- 1D
- -0.89%
- 1M
- -1.06%
- 6M
- -0.97%
- YTD
- -0.74%
- 1Y
- 2.41%
- 3Y*
- 1.76%
- 5Y*
- -0.36%
- 10Y*
- —
GOVP.L vs. VDTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GOVP.L iShares $ Treasury Bond UCITS ETF | -0.39% | 6.04% | 0.48% | 2.90% | -13.18% | -2.61% | 7.02% | -0.20% |
VDTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.74% | -1.33% | 2.71% | -1.47% | -1.95% | -1.41% | 4.48% | -7.20% |
Correlation
The correlation between GOVP.L and VDTA.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2019 | 0.37 |
The correlation between GOVP.L and VDTA.L shifts across timeframes, from 0.26 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GOVP.L vs. VDTA.L — Risk / Return Rank
GOVP.L
VDTA.L
GOVP.L vs. VDTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond UCITS ETF (GOVP.L) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.L). 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.
| GOVP.L | VDTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.07 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.41 | +0.68 |
| Martin ratioReturn relative to average drawdown | 2.81 | 0.98 | +1.83 |
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Drawdowns
GOVP.L vs. VDTA.L - Drawdown Comparison
The maximum GOVP.L drawdown since its inception was -20.62%, smaller than the maximum VDTA.L drawdown of -22.98%. Use the drawdown chart below to compare losses from any high point for GOVP.L and VDTA.L.
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Drawdown Indicators
| GOVP.L | VDTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.62% | -22.98% | +2.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -5.84% | +2.88% |
Max Drawdown (3Y)Largest decline over 3 years | -5.29% | -8.53% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -16.77% | -1.29% |
Current DrawdownCurrent decline from peak | -9.71% | -18.62% | +8.91% |
Average DrawdownAverage peak-to-trough decline | -9.87% | -14.97% | +5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 2.46% | -1.31% |
Volatility
GOVP.L vs. VDTA.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond UCITS ETF (GOVP.L) is 1.14%, while Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.L) has a volatility of 2.24%. This indicates that GOVP.L experiences smaller price fluctuations and is considered to be less risky than VDTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVP.L | VDTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 2.24% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 5.23% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 6.65% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 8.99% | -3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 9.41% | -3.88% |
GOVP.L vs. VDTA.L - Expense Ratio Comparison
GOVP.L has a 0.10% expense ratio, which is higher than VDTA.L'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
GOVP.L vs. VDTA.L - Dividend Comparison
GOVP.L's dividend yield for the trailing twelve months is around 3.97%, while VDTA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVP.L iShares $ Treasury Bond UCITS ETF | 3.97% | 3.96% | 3.89% | 3.08% | 1.49% | 0.85% | 1.32% |
VDTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVP.L and VDTA.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDTA.L is cheaper with a 0.05% expense ratio, compared with 0.10% for GOVP.L.
GOVP.L tracks iShares $ Treasury Bond UCITS ETF, while VDTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.10% for GOVP.L and 0.05% for VDTA.L.
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