IBTM.L vs. VFEM.L
IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and VFEM.L (Vanguard FTSE Emerging Markets UCITS ETF Distributing) are both exchange-traded funds - IBTM.L is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while VFEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, IBTM.L returned 2.30%/yr vs 11.90%/yr for VFEM.L. At a 0.03 correlation, their price movements are largely independent. IBTM.L charges 0.07%/yr vs 0.22%/yr for VFEM.L.
Performance
IBTM.L vs. VFEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTM.L achieves a -0.03% return, which is significantly lower than VFEM.L's 11.93% return. Over the past 10 years, IBTM.L has underperformed VFEM.L with an annualized return of 2.30%, while VFEM.L has yielded a comparatively higher 11.90% annualized return.
IBTM.L
- 1D
- 0.15%
- 1M
- 1.68%
- YTD
- -0.03%
- 6M
- -0.91%
- 1Y
- 6.38%
- 3Y*
- 1.26%
- 5Y*
- 0.99%
- 10Y*
- 2.30%
VFEM.L
- 1D
- -1.33%
- 1M
- 3.70%
- YTD
- 11.93%
- 6M
- 12.76%
- 1Y
- 31.73%
- 3Y*
- 16.90%
- 5Y*
- 8.91%
- 10Y*
- 11.90%
IBTM.L vs. VFEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | -0.03% | 2.28% | 2.56% | -1.50% | -4.38% | -1.34% | 6.45% | 6.25% | 7.34% | -5.92% |
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 11.93% | 16.90% | 15.28% | 5.45% | -3.23% | 3.99% | 15.04% | 16.30% | -6.83% | 20.89% |
Correlation
The correlation between IBTM.L and VFEM.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 24, 2012 | 0.03 |
The correlation between IBTM.L and VFEM.L shifts across timeframes, from -0.06 (5 years) to 0.04 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTM.L vs. VFEM.L — Risk / Return Rank
IBTM.L
VFEM.L
IBTM.L vs. VFEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) and Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.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.
| IBTM.L | VFEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.41 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 3.54 | -2.37 |
| Martin ratioReturn relative to average drawdown | 2.86 | 11.69 | -8.83 |
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
| IBTM.L | VFEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 2.28 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.58 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.68 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.54 | +0.03 |
Drawdowns
IBTM.L vs. VFEM.L - Drawdown Comparison
The maximum IBTM.L drawdown since its inception was -25.39%, smaller than the maximum VFEM.L drawdown of -31.32%. Use the drawdown chart below to compare losses from any high point for IBTM.L and VFEM.L.
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Drawdown Indicators
| IBTM.L | VFEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.39% | -31.32% | +5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.58% | -8.92% | +3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -14.68% | +7.75% |
Max Drawdown (5Y)Largest decline over 5 years | -15.83% | -15.28% | -0.55% |
Max Drawdown (10Y)Largest decline over 10 years | -25.39% | -25.91% | +0.52% |
Current DrawdownCurrent decline from peak | -17.49% | -1.33% | -16.16% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -6.88% | -3.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 2.71% | -0.43% |
Volatility
IBTM.L vs. VFEM.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) is 1.86%, while Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L) has a volatility of 5.28%. This indicates that IBTM.L experiences smaller price fluctuations and is considered to be less risky than VFEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTM.L | VFEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 5.28% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.69% | 11.12% | -6.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 13.86% | -7.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.51% | 15.47% | -5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.63% | 17.50% | -6.87% |
IBTM.L vs. VFEM.L - Expense Ratio Comparison
IBTM.L has a 0.07% expense ratio, which is lower than VFEM.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTM.L vs. VFEM.L - Dividend Comparison
IBTM.L's dividend yield for the trailing twelve months is around 5.82%, more than VFEM.L's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 5.82% | 5.55% | 5.00% | 3.93% | 2.34% | 1.57% | 2.13% | 3.25% | 3.07% | 2.64% | 2.40% | 3.01% |
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 2.03% | 2.36% | 2.93% | 6.58% | 7.88% | 6.20% | 4.92% | 3.39% | 3.61% | 2.98% | 2.96% | 4.36% |
Frequently Asked Questions
IBTM.L and VFEM.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTM.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTM.L is cheaper with a 0.07% expense ratio, compared with 0.22% for VFEM.L.
IBTM.L is categorized as Government Bonds, while VFEM.L is Emerging Markets Equities. IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index, while VFEM.L tracks MSCI EM NR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IBTM.L and 0.22% for VFEM.L.
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