INXG.L vs. VUTY.L
INXG.L (iShares £ Index-Linked Gilts UCITS ETF) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - INXG.L tracks the Bloomberg UK Government Inflation-Linked Bond Index while VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 10 years, INXG.L returned -1.18%/yr vs 1.68%/yr for VUTY.L. At a 0.33 correlation, their price movements are largely independent. INXG.L charges 0.10%/yr vs 0.05%/yr for VUTY.L.
Performance
INXG.L vs. VUTY.L - Performance Comparison
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Returns By Period
In the year-to-date period, INXG.L achieves a 0.04% return, which is significantly higher than VUTY.L's -0.16% return. Over the past 10 years, INXG.L has underperformed VUTY.L with an annualized return of -1.18%, while VUTY.L has yielded a comparatively higher 1.68% annualized return.
INXG.L
- 1D
- 0.44%
- 1M
- 0.13%
- YTD
- 0.04%
- 6M
- -0.13%
- 1Y
- 3.36%
- 3Y*
- -0.63%
- 5Y*
- -8.26%
- 10Y*
- -1.18%
VUTY.L
- 1D
- 0.07%
- 1M
- 0.78%
- YTD
- -0.16%
- 6M
- -0.78%
- 1Y
- 4.55%
- 3Y*
- 0.23%
- 5Y*
- 0.61%
- 10Y*
- 1.68%
INXG.L vs. VUTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 0.04% | 1.10% | -8.66% | 0.16% | -34.27% | 4.08% | 11.08% | 6.27% | -0.49% | 2.21% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | -0.16% | -1.13% | 2.55% | -1.94% | -1.87% | -1.11% | 3.99% | 3.70% | 6.64% | -6.82% |
Correlation
The correlation between INXG.L and VUTY.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 | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.33 |
Over the past year, the correlation between INXG.L and VUTY.L has dropped to 0.05 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
INXG.L vs. VUTY.L — Risk / Return Rank
INXG.L
VUTY.L
INXG.L vs. VUTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Index-Linked Gilts UCITS ETF (INXG.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.
| INXG.L | VUTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.13 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 0.83 | -0.33 |
| Martin ratioReturn relative to average drawdown | 1.08 | 1.98 | -0.91 |
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
| INXG.L | VUTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.33 | 0.73 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.41 | 0.07 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | 0.17 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.71 | 0.13 | -0.83 |
Drawdowns
INXG.L vs. VUTY.L - Drawdown Comparison
The maximum INXG.L drawdown since its inception was -99.05%, which is greater than VUTY.L's maximum drawdown of -22.63%. Use the drawdown chart below to compare losses from any high point for INXG.L and VUTY.L.
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Drawdown Indicators
| INXG.L | VUTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.05% | -22.63% | -76.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.62% | -5.25% | -1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -15.04% | -8.27% | -6.77% |
Max Drawdown (5Y)Largest decline over 5 years | -50.87% | -16.17% | -34.70% |
Max Drawdown (10Y)Largest decline over 10 years | -50.87% | -22.63% | -28.24% |
Current DrawdownCurrent decline from peak | -98.31% | -17.85% | -80.46% |
Average DrawdownAverage peak-to-trough decline | -97.27% | -12.63% | -84.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 2.20% | +0.86% |
Volatility
INXG.L vs. VUTY.L - Volatility Comparison
iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a higher volatility of 3.49% compared to Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) at 1.43%. This indicates that INXG.L's price experiences larger fluctuations and is considered to be riskier 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
| INXG.L | VUTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 1.43% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 7.26% | 4.36% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.89% | 5.96% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.07% | 8.71% | +11.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 10.00% | +7.47% |
INXG.L vs. VUTY.L - Expense Ratio Comparison
INXG.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
INXG.L vs. VUTY.L - Dividend Comparison
INXG.L's dividend yield for the trailing twelve months is around 7.56%, more than VUTY.L's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.56% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.27% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% | 0.00% |
Frequently Asked Questions
INXG.L and VUTY.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, 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 INXG.L.
INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index, 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 INXG.L and 0.05% for VUTY.L.
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