GOVT vs. VTG
GOVT (iShares U.S. Treasury Bond ETF) and VTG (Vanguard Total Treasury ETF) are both exchange-traded funds - GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index, while VTG is a Intermediate Core Bond fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. GOVT charges 0.05%/yr vs 0.03%/yr for VTG.
Performance
GOVT vs. VTG - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with GOVT at -0.11% and VTG at -0.11%.
GOVT
- 1D
- -0.18%
- 1M
- 0.11%
- YTD
- -0.11%
- 6M
- -0.34%
- 1Y
- 3.87%
- 3Y*
- 2.83%
- 5Y*
- -0.45%
- 10Y*
- 0.87%
VTG
- 1D
- -0.17%
- 1M
- 0.11%
- YTD
- -0.11%
- 6M
- -0.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOVT vs. VTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | -0.11% | 2.78% |
VTG Vanguard Total Treasury ETF | -0.11% | 2.88% |
Correlation
The correlation between GOVT and VTG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025 | 0.98 |
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Return for Risk
GOVT vs. VTG — Risk / Return Rank
GOVT
VTG
GOVT vs. VTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) 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.
| GOVT | VTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | — | — |
| Martin ratioReturn relative to average drawdown | 4.01 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOVT | VTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.88 | -0.62 |
Drawdowns
GOVT vs. VTG - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for GOVT and VTG.
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Drawdown Indicators
| GOVT | VTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -2.89% | -16.18% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -7.17% | -1.89% | -5.28% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -0.73% | -4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | — | — |
Volatility
GOVT vs. VTG - Volatility Comparison
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Volatility by Period
| GOVT | VTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 3.51% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 3.51% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.22% | 3.51% | +1.71% |
GOVT vs. VTG - Expense Ratio Comparison
GOVT has a 0.05% 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
GOVT vs. VTG - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.59%, more than VTG's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.59% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
VTG Vanguard Total Treasury ETF | 3.21% | 1.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, GOVT 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.
On fees, VTG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VTG is cheaper with a 0.03% expense ratio, compared with 0.05% for GOVT.
GOVT has the higher dividend yield at 3.59%, compared with 3.21% for VTG.
GOVT is categorized as Government Bonds, while VTG is Intermediate Core Bond. GOVT tracks ICE U.S. Treasury Core Bond Index, while VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.05% for GOVT and 0.03% for VTG.
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