IGOV vs. ANGL
IGOV (iShares International Treasury Bond ETF) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both exchange-traded funds - IGOV is a International Government Bonds fund tracking the FTSE World Government Bond Index - Developed Markets Capped Select Index, while ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index. Both are passively managed. Over the past 10 years, IGOV returned -1.48%/yr vs 6.26%/yr for ANGL. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.
Performance
IGOV vs. ANGL - Performance Comparison
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Returns By Period
In the year-to-date period, IGOV achieves a -1.66% return, which is significantly lower than ANGL's 2.11% return. Over the past 10 years, IGOV has underperformed ANGL with an annualized return of -1.48%, while ANGL has yielded a comparatively higher 6.26% annualized return.
IGOV
- 1D
- 0.15%
- 1M
- -1.11%
- YTD
- -1.66%
- 6M
- -2.06%
- 1Y
- -2.51%
- 3Y*
- 1.78%
- 5Y*
- -4.35%
- 10Y*
- -1.48%
ANGL
- 1D
- 0.14%
- 1M
- 1.08%
- YTD
- 2.11%
- 6M
- 2.23%
- 1Y
- 7.07%
- 3Y*
- 8.65%
- 5Y*
- 3.25%
- 10Y*
- 6.26%
IGOV vs. ANGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | -1.66% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 10.88% | 3.76% | -2.60% | 11.38% |
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 2.11% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
Correlation
The correlation between IGOV and ANGL is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.23 |
Over the past year, IGOV and ANGL have become more correlated (0.59) than their long-term average of 0.23, meaning their price movements have been converging.
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Return for Risk
IGOV vs. ANGL — Risk / Return Rank
IGOV
ANGL
IGOV vs. ANGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Treasury Bond ETF (IGOV) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.
| IGOV | ANGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.74 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.32 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.75 | -2.20 |
| Martin ratioReturn relative to average drawdown | -0.97 | 7.33 | -8.30 |
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Drawdowns
IGOV vs. ANGL - Drawdown Comparison
The maximum IGOV drawdown since its inception was -35.88%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for IGOV and ANGL.
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Drawdown Indicators
| IGOV | ANGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -29.31% | -6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -4.05% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -10.65% | -5.48% | -5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -32.92% | -19.25% | -13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -35.88% | -29.31% | -6.57% |
Current DrawdownCurrent decline from peak | -24.89% | 0.00% | -24.89% |
Average DrawdownAverage peak-to-trough decline | -11.06% | -3.29% | -7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 0.97% | +1.63% |
Volatility
IGOV vs. ANGL - Volatility Comparison
iShares International Treasury Bond ETF (IGOV) has a higher volatility of 2.30% compared to VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) at 1.16%. This indicates that IGOV's price experiences larger fluctuations and is considered to be riskier than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGOV | ANGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 1.16% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.35% | 3.55% | +2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.12% | 4.36% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | 7.64% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 9.26% | -0.66% |
IGOV vs. ANGL - Expense Ratio Comparison
Both IGOV and ANGL have an expense ratio of 0.35%.
Dividends
IGOV vs. ANGL - Dividend Comparison
IGOV's dividend yield for the trailing twelve months is around 1.43%, less than ANGL's 6.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.34% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
IGOV iShares International Treasury Bond ETF | 1.43% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
Frequently Asked Questions
IGOV and ANGL have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGOV has higher volatility (2.30%) compared to ANGL (1.16%). In terms of maximum drawdown, IGOV dropped -35.88% vs ANGL's -29.31%.
On 10-year performance, ANGL leads with 6.26% vs -1.48% for IGOV. Both ETFs have the same 0.35% expense ratio. On volatility, ANGL has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ANGL has performed better with a 6.26% return vs -1.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGOV and ANGL have the same expense ratio: 0.35% per year.
ANGL has the higher dividend yield at 6.34%, compared with 1.43% for IGOV.
IGOV is categorized as International Government Bonds, while ANGL is High Yield Bonds. IGOV tracks FTSE World Government Bond Index - Developed Markets Capped Select Index, while ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index. They also come from different issuers: iShares and VanEck.
ANGL currently has the higher Sharpe Ratio (1.63 vs -0.31), 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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