IBTE.L vs. VUTY.L
IBTE.L (iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc)) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - IBTE.L tracks the iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) while VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 5 years, IBTE.L returned 0.06%/yr vs -0.03%/yr for VUTY.L. At a 0.23 correlation, their price movements are largely independent. IBTE.L charges 0.10%/yr vs 0.05%/yr for VUTY.L.
Performance
IBTE.L vs. VUTY.L - Performance Comparison
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Different Trading Currencies
IBTE.L is traded in EUR, while VUTY.L is traded in GBP. To make them comparable, the VUTY.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTE.L achieves a -0.14% return, which is significantly lower than VUTY.L's 2.55% return.
IBTE.L
- 1D
- 0.06%
- 1M
- 0.06%
- 6M
- -0.14%
- YTD
- -0.14%
- 1Y
- 1.46%
- 3Y*
- 2.43%
- 5Y*
- 0.06%
- 10Y*
- —
VUTY.L
- 1D
- 0.03%
- 1M
- 1.31%
- 6M
- 1.60%
- YTD
- 2.55%
- 1Y
- 5.15%
- 3Y*
- 2.33%
- 5Y*
- -0.03%
- 10Y*
- 0.48%
IBTE.L vs. VUTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBTE.L iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) | -0.14% | 3.04% | 2.49% | 1.87% | -5.75% | -1.46% | 1.84% | 0.50% | -0.40% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 2.55% | -6.29% | 7.48% | 0.13% | -6.90% | 5.31% | -1.64% | 10.26% | 9.61% |
Correlation
The correlation between IBTE.L and VUTY.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018 | 0.23 |
Over the past year, the correlation between IBTE.L and VUTY.L has dropped to 0.01 - well below their long-term average of 0.23, suggesting their price drivers have been diverging.
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Return for Risk
IBTE.L vs. VUTY.L — Risk / Return Rank
IBTE.L
VUTY.L
IBTE.L vs. VUTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) (IBTE.L) and Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.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.
| IBTE.L | VUTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.29 | -0.01 |
| Martin ratioReturn relative to average drawdown | 3.18 | 3.32 | -0.13 |
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Drawdowns
IBTE.L vs. VUTY.L - Drawdown Comparison
The maximum IBTE.L drawdown since its inception was -8.51%, smaller than the maximum VUTY.L drawdown of -17.66%. Use the drawdown chart below to compare losses from any high point for IBTE.L and VUTY.L.
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Drawdown Indicators
| IBTE.L | VUTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.51% | -17.66% | +9.15% |
Max Drawdown (1Y)Largest decline over 1 year | -0.98% | -3.99% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -11.33% | +10.30% |
Max Drawdown (5Y)Largest decline over 5 years | -7.66% | -13.11% | +5.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.66% | — |
Current DrawdownCurrent decline from peak | -0.78% | -11.67% | +10.89% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -9.19% | +6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 1.55% | -1.16% |
Volatility
IBTE.L vs. VUTY.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) (IBTE.L) is 0.50%, while Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) has a volatility of 1.54%. This indicates that IBTE.L experiences smaller price fluctuations and is considered to be less risky than VUTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTE.L | VUTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 1.54% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.37% | 3.99% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 5.56% | -3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.28% | 8.37% | -6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.97% | 8.31% | -6.34% |
IBTE.L vs. VUTY.L - Expense Ratio Comparison
IBTE.L has a 0.10% expense ratio, which is higher than VUTY.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
IBTE.L vs. VUTY.L - Dividend Comparison
IBTE.L has not paid dividends to shareholders, while VUTY.L's dividend yield for the trailing twelve months is around 4.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBTE.L iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.30% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% |
Frequently Asked Questions
IBTE.L and VUTY.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L is cheaper with a 0.05% expense ratio, compared with 0.10% for IBTE.L.
IBTE.L tracks iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc), while VUTY.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 IBTE.L and 0.05% for VUTY.L.
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