GOVZ vs. VGLT
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 5 years, GOVZ returned -14.32%/yr vs -7.07%/yr for VGLT. Their 0.98 correlation means they have historically moved very closely together. GOVZ charges 0.15%/yr vs 0.03%/yr for VGLT.
Performance
GOVZ vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -6.93% return, which is significantly lower than VGLT's -3.26% return.
GOVZ
- 1D
- -1.06%
- 1M
- -6.91%
- 6M
- -6.43%
- YTD
- -6.93%
- 1Y
- -7.36%
- 3Y*
- -8.06%
- 5Y*
- -14.32%
- 10Y*
- —
- ALL TIME*
- -14.18%
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) |
|---|---|---|---|
| $6.61M | $6.41M | $8.12M | |
| $95.69M | $98.86M | $108.97M |
GOVZ vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.93% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
VGLT Vanguard Long-Term Treasury ETF | -3.26% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | -3.63% |
Correlation
The correlation between GOVZ and VGLT is 0.96 - 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. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.98 |
The correlation between GOVZ and VGLT has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
GOVZ vs. VGLT — Risk / Return Rank
GOVZ
VGLT
GOVZ vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.
| GOVZ | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.00 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -0.05 | -0.34 |
| Martin ratioReturn relative to average drawdown | -0.81 | -0.12 | -0.69 |
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Drawdowns
GOVZ vs. VGLT - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for GOVZ and VGLT.
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Drawdown Indicators
| GOVZ | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -46.18% | -13.47% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -7.03% | -7.84% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -13.38% | -13.04% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -40.98% | -16.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.18% | — |
Current DrawdownCurrent decline from peak | -59.10% | -38.64% | -20.46% |
Average DrawdownAverage peak-to-trough decline | -40.34% | -15.26% | -25.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.27% | 3.19% | +4.08% |
Volatility
GOVZ vs. VGLT - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.48% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.24%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier 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
| GOVZ | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 2.24% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.11% | 6.31% | +4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.58% | 8.47% | +7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 14.45% | +9.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.18% | 13.75% | +9.43% |
GOVZ vs. VGLT - Expense Ratio Comparison
GOVZ 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
GOVZ vs. VGLT - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.53%, more than VGLT's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.06% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 0.96, GOVZ 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.
GOVZ has higher volatility (4.48%) compared to VGLT (2.24%). In terms of maximum drawdown, GOVZ dropped -59.65% vs VGLT's -46.18%.
On 5-year performance, VGLT leads with -7.07% vs -14.32% for GOVZ. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VGLT has performed better with a -7.07% return vs -14.32%. 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 GOVZ.
GOVZ has the higher dividend yield at 5.06%, compared with 4.37% for VGLT.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for GOVZ and 0.03% for VGLT.
VGLT currently has the higher Sharpe Ratio (-0.04 vs -0.38), 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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