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ITEB.L vs. VUTY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ITEB.L vs. VUTY.L

Last updated Jul 16, 2026
Documentation

ITEB.L (iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - ITEB.L tracks the iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) while VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 3 years, ITEB.L returned 5.84%/yr vs 1.93%/yr for VUTY.L. At a 0.17 correlation, their price movements are largely independent.

Performance

ITEB.L vs. VUTY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) and Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ITEB.L achieves a 0.50% return, which is significantly higher than VUTY.L's -0.43% return.

ITEB.L

1D
-0.18%
1M
-0.57%
6M
-0.22%
YTD
0.50%
1Y
2.87%
3Y*
5.84%
5Y*
—
10Y*
—

VUTY.L

1D
-0.63%
1M
-0.62%
6M
-0.61%
YTD
-0.43%
1Y
2.80%
3Y*
1.93%
5Y*
-0.28%
10Y*
0.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ITEB.L vs. VUTY.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
ITEB.L
iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)		0.50%5.10%6.13%10.70%0.86%
VUTY.L
Vanguard USD Treasury Bond UCITS ETF Distributing		-0.43%-1.14%2.53%-1.95%-6.08%

Correlation

The correlation between ITEB.L and VUTY.L is -0.02, 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

-0.02

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Oct 6, 2022

0.17

The correlation between ITEB.L and VUTY.L shifts across timeframes, from -0.02 (1 year) to 0.18 (3 years), reflecting how their relationship changes across market environments.

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iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)

Vanguard USD Treasury Bond UCITS ETF Distributing

Often compared with VUTY.L:
VUTY.L vs. IBTA.LVUTY.L vs. TLTVUTY.L vs. VAGP.LVUTY.L vs. IBTM.LVUTY.L vs. VETY.LVUTY.L vs. V3GP.LVUTY.L vs. VGIT

Return for Risk

ITEB.L vs. VUTY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ITEB.L
ITEB.L Risk / Return Rank: 2121
Overall Rank
ITEB.L Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
ITEB.L Sortino Ratio Rank: 1919
Sortino Ratio Rank
ITEB.L Omega Ratio Rank: 2121
Omega Ratio Rank
ITEB.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
ITEB.L Martin Ratio Rank: 2323
Martin Ratio Rank
VUTY.L
VUTY.L Risk / Return Rank: 1717
Overall Rank
VUTY.L Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
VUTY.L Sortino Ratio Rank: 1616
Sortino Ratio Rank
VUTY.L Omega Ratio Rank: 1616
Omega Ratio Rank
VUTY.L Calmar Ratio Rank: 1717
Calmar Ratio Rank
VUTY.L Martin Ratio Rank: 1616
Martin Ratio Rank
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.

ITEB.L vs. VUTY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.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.

ITEB.LVUTY.LDifference
Sharpe ratioReturn per unit of total volatility
0.59
0.47

+0.13

Sortino ratioReturn per unit of downside risk
0.88
0.74

+0.14

Omega ratioGain probability vs. loss probability

1.12

1.08

+0.04

Calmar ratioReturn relative to maximum drawdown

0.71

0.53

+0.18

Martin ratioReturn relative to average drawdown

2.22

1.22

+1.00

ITEB.L vs. VUTY.L - Sharpe Ratio Comparison

The current ITEB.L Sharpe Ratio is 0.59, which is comparable to the VUTY.L Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of ITEB.L and VUTY.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.

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Drawdowns

ITEB.L vs. VUTY.L - Drawdown Comparison

The maximum ITEB.L drawdown since its inception was -5.97%, smaller than the maximum VUTY.L drawdown of -22.66%. Use the drawdown chart below to compare losses from any high point for ITEB.L and VUTY.L.

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Drawdown Indicators

ITEB.LVUTY.LDifference

Max Drawdown

Largest peak-to-trough decline

-5.97%

-22.66%

+16.69%

Max Drawdown (1Y)

Largest decline over 1 year

-4.03%

-5.24%

+1.21%

Max Drawdown (3Y)

Largest decline over 3 years

-4.03%

-8.28%

+4.25%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.17%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-22.66%

—

Current Drawdown

Current decline from peak

-1.61%

-18.09%

+16.48%

Average Drawdown

Average peak-to-trough decline

-1.24%

-12.67%

+11.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.29%

2.29%

-1.00%

Volatility

ITEB.L vs. VUTY.L - Volatility Comparison

The current volatility for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) is 1.12%, while Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) has a volatility of 2.01%. This indicates that ITEB.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

ITEB.LVUTY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.12%

2.01%

-0.89%

Volatility (6M)

Calculated over the trailing 6-month period

4.19%

4.46%

-0.27%

Volatility (1Y)

Calculated over the trailing 1-year period

4.81%

5.99%

-1.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.19%

8.66%

-2.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.19%

9.23%

-3.04%

Dividends

ITEB.L vs. VUTY.L - Dividend Comparison

ITEB.L's dividend yield for the trailing twelve months is around 2.87%, less than VUTY.L's 4.30% yield.

PositionTTM2025202420232022202120202019201820172016
ITEB.L
iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)		2.87%2.81%2.58%2.25%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

ITEB.L and VUTY.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ITEB.L tracks iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist), while VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: iShares and Vanguard.

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