IBGL.L vs. VUTA.L
IBGL.L (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - IBGL.L tracks the iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) while VUTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 5 years, IBGL.L returned -8.38%/yr vs -0.27%/yr for VUTA.L. A 0.50 correlation means they provide meaningful diversification when combined. IBGL.L charges 0.20%/yr vs 0.05%/yr for VUTA.L.
Performance
IBGL.L vs. VUTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBGL.L achieves a -4.18% return, which is significantly lower than VUTA.L's -0.45% return.
IBGL.L
- 1D
- -0.40%
- 1M
- -4.05%
- 6M
- -4.44%
- YTD
- -4.18%
- 1Y
- -4.09%
- 3Y*
- -0.76%
- 5Y*
- -8.38%
- 10Y*
- -2.49%
VUTA.L
- 1D
- -0.59%
- 1M
- -0.59%
- 6M
- -0.64%
- YTD
- -0.45%
- 1Y
- 2.76%
- 3Y*
- 1.93%
- 5Y*
- -0.27%
- 10Y*
- —
IBGL.L vs. VUTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | -4.18% | -0.80% | -5.06% | 7.50% | -30.45% | -13.04% | 18.01% | 10.94% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.45% | -1.12% | 2.51% | -1.91% | -1.88% | -1.09% | 3.97% | -19.38% |
Correlation
The correlation between IBGL.L and VUTA.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.50 |
Over the past year, the correlation between IBGL.L and VUTA.L has dropped to 0.27 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.
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Return for Risk
IBGL.L vs. VUTA.L — Risk / Return Rank
IBGL.L
VUTA.L
IBGL.L vs. VUTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.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.
| IBGL.L | VUTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.08 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 0.53 | -1.02 |
| Martin ratioReturn relative to average drawdown | -1.08 | 1.22 | -2.29 |
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Drawdowns
IBGL.L vs. VUTA.L - Drawdown Comparison
The maximum IBGL.L drawdown since its inception was -46.77%, which is greater than VUTA.L's maximum drawdown of -25.05%. Use the drawdown chart below to compare losses from any high point for IBGL.L and VUTA.L.
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Drawdown Indicators
| IBGL.L | VUTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.77% | -25.05% | -21.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -5.19% | -3.45% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -21.06% | +8.07% |
Max Drawdown (5Y)Largest decline over 5 years | -41.54% | -21.06% | -20.48% |
Max Drawdown (10Y)Largest decline over 10 years | -46.77% | — | — |
Current DrawdownCurrent decline from peak | -42.87% | -19.48% | -23.39% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -17.91% | +3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 2.26% | +1.73% |
Volatility
IBGL.L vs. VUTA.L - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBGL.L) has a higher volatility of 2.80% compared to Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) at 1.92%. This indicates that IBGL.L's price experiences larger fluctuations and is considered to be riskier than VUTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGL.L | VUTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 1.92% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 4.50% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.44% | 6.04% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 16.62% | -2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.87% | 17.25% | -4.38% |
IBGL.L vs. VUTA.L - Expense Ratio Comparison
IBGL.L has a 0.20% expense ratio, which is higher than VUTA.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
IBGL.L vs. VUTA.L - Dividend Comparison
IBGL.L's dividend yield for the trailing twelve months is around 3.83%, while VUTA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGL.L iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.83% | 3.48% | 3.23% | 2.65% | 1.28% | 0.55% | 0.73% | 1.28% | 1.48% | 1.32% | 1.41% | 1.78% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBGL.L and VUTA.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.20% for IBGL.L.
IBGL.L tracks iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist), while VUTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IBGL.L and 0.05% for VUTA.L.
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