IBGY.L vs. VUTA.L

Last updated Jul 16, 2026

IBGY.L (iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist)) and VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - IBGY.L tracks the iShares € Govt Bond 5-7yr 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, IBGY.L returned -1.77%/yr vs -0.27%/yr for VUTA.L. A 0.58 correlation means they provide meaningful diversification when combined. IBGY.L charges 0.20%/yr vs 0.05%/yr for VUTA.L.

Performance

IBGY.L vs. VUTA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) (IBGY.L) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBGY.L achieves a -4.44% return, which is significantly lower than VUTA.L's -0.45% return.

IBGY.L

• 1D: -0.78%
• 1M: -2.48%
• 6M: -4.06%
• YTD: -4.44%
• 1Y: -2.82%
• 3Y*: 2.31%
• 5Y*: -1.77%
• 10Y*: -0.02%

VUTA.L

• 1D: -0.59%
• 1M: -0.59%
• 6M: -0.64%
• YTD: -0.45%
• 1Y: 2.76%
• 3Y*: 1.93%
• 5Y*: -0.27%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBGY.L vs. VUTA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IBGY.L iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist)	-4.44%	7.76%	-2.63%	4.85%	-10.06%	-8.35%	8.45%	0.82%
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 IBGY.L and VUTA.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019	0.58

Over the past year, the correlation between IBGY.L and VUTA.L has dropped to 0.33 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

IBGY.L vs. VUTA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBGY.L

IBGY.L Risk / Return Rank: 5
IBGY.L Sharpe Ratio Rank: 5
IBGY.L Sortino Ratio Rank: 5
IBGY.L Omega Ratio Rank: 5
IBGY.L Calmar Ratio Rank: 5
IBGY.L Martin Ratio Rank: 4

VUTA.L

VUTA.L Risk / Return Rank: 16
VUTA.L Sharpe Ratio Rank: 17
VUTA.L Sortino Ratio Rank: 16
VUTA.L Omega Ratio Rank: 15
VUTA.L Calmar Ratio Rank: 17
VUTA.L Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBGY.L vs. VUTA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) (IBGY.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.

	IBGY.L	VUTA.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	0.45	-0.98
Sortino ratio: Return per unit of downside risk	-0.68	0.72	-1.41
Omega ratio: Gain probability vs. loss probability	0.92	1.08	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.48	0.53	-1.00
Martin ratio: Return relative to average drawdown	-1.04	1.22	-2.26

IBGY.L vs. VUTA.L - Sharpe Ratio Comparison

The current IBGY.L Sharpe Ratio is -0.52, which is lower than the VUTA.L Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of IBGY.L and VUTA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBGY.L vs. VUTA.L - Drawdown Comparison

The maximum IBGY.L drawdown since its inception was -22.02%, smaller than the maximum VUTA.L drawdown of -25.05%. Use the drawdown chart below to compare losses from any high point for IBGY.L and VUTA.L.

Drawdown Indicators

	IBGY.L	VUTA.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.02%	-25.05%	+3.03%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-5.19%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-5.89%	-21.06%	+15.17%
Max Drawdown (5Y) Largest decline over 5 years	-16.81%	-21.06%	+4.25%
Max Drawdown (10Y) Largest decline over 10 years	-22.02%	—	—
Current Drawdown Current decline from peak	-15.22%	-19.48%	+4.26%
Average Drawdown Average peak-to-trough decline	-10.11%	-17.91%	+7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.26%	+0.44%

Volatility

IBGY.L vs. VUTA.L - Volatility Comparison

The current volatility for iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist) (IBGY.L) is 1.44%, while Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) has a volatility of 1.92%. This indicates that IBGY.L experiences smaller price fluctuations and is considered to be less risky than VUTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBGY.L	VUTA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.92%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	4.41%	4.50%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	5.35%	6.04%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.83%	16.62%	-9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.51%	17.25%	-9.74%

IBGY.L vs. VUTA.L - Expense Ratio Comparison

IBGY.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

IBGY.L vs. VUTA.L - Dividend Comparison

IBGY.L's dividend yield for the trailing twelve months is around 1.34%, while VUTA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBGY.L iShares € Govt Bond 5-7yr UCITS ETF EUR (Dist)	1.34%	2.60%	2.59%	0.84%	0.00%	0.00%	0.13%	0.51%	0.34%	0.22%	0.48%	0.35%
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

Can I hold both IBGY.L and VUTA.L in my portfolio?

IBGY.L and VUTA.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBGY.L or VUTA.L?

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.

Which ETF is cheaper, IBGY.L or VUTA.L?

VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.20% for IBGY.L.

What is the main difference between IBGY.L and VUTA.L?

IBGY.L tracks iShares € Govt Bond 5-7yr 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 IBGY.L and 0.05% for VUTA.L.