ITEH.L vs. VDTA.L
ITEH.L (iShares Italy Govt Bond UCITS ETF USD Hedged (Acc)) and VDTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - ITEH.L tracks the iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) while VDTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted index. Both are passively managed. Over the past 5 years, ITEH.L returned 0.91%/yr vs -0.70%/yr for VDTA.L. A 0.54 correlation means they provide meaningful diversification when combined. ITEH.L charges 0.22%/yr vs 0.05%/yr for VDTA.L.
Performance
ITEH.L vs. VDTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITEH.L achieves a 0.48% return, which is significantly higher than VDTA.L's -0.33% return.
ITEH.L
- 1D
- 0.00%
- 1M
- -0.63%
- 6M
- -0.16%
- YTD
- 0.48%
- 1Y
- 3.10%
- 3Y*
- 6.11%
- 5Y*
- 0.91%
- 10Y*
- —
VDTA.L
- 1D
- 0.15%
- 1M
- -0.18%
- 6M
- -0.37%
- YTD
- -0.33%
- 1Y
- 3.51%
- 3Y*
- 2.88%
- 5Y*
- -0.70%
- 10Y*
- —
ITEH.L vs. VDTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ITEH.L iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) | 0.48% | 5.18% | 6.60% | 11.65% | -15.12% | -2.50% | 8.95% | 13.13% |
VDTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.33% | 6.24% | 0.94% | 3.71% | -12.37% | -2.33% | 7.64% | 6.37% |
Correlation
The correlation between ITEH.L and VDTA.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.54 |
The correlation between ITEH.L and VDTA.L shifts across timeframes, from 0.54 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ITEH.L vs. VDTA.L — Risk / Return Rank
ITEH.L
VDTA.L
ITEH.L vs. VDTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) (ITEH.L) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.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.
| ITEH.L | VDTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 1.21 | -0.41 |
| Martin ratioReturn relative to average drawdown | 2.42 | 3.24 | -0.82 |
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Drawdowns
ITEH.L vs. VDTA.L - Drawdown Comparison
The maximum ITEH.L drawdown since its inception was -19.30%, roughly equal to the maximum VDTA.L drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for ITEH.L and VDTA.L.
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Drawdown Indicators
| ITEH.L | VDTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.30% | -18.80% | -0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -2.89% | -1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.93% | -5.00% | +1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -16.39% | -2.91% |
Current DrawdownCurrent decline from peak | -1.56% | -7.07% | +5.51% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -8.07% | +3.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.08% | +0.20% |
Volatility
ITEH.L vs. VDTA.L - Volatility Comparison
iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) (ITEH.L) has a higher volatility of 1.16% compared to Vanguard USD Treasury Bond UCITS ETF Accumulating (VDTA.L) at 0.96%. This indicates that ITEH.L's price experiences larger fluctuations and is considered to be riskier than VDTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEH.L | VDTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.96% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.10% | 2.62% | +1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.78% | 3.53% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.92% | 5.59% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.24% | 5.33% | +1.91% |
ITEH.L vs. VDTA.L - Expense Ratio Comparison
ITEH.L has a 0.22% expense ratio, which is higher than VDTA.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
ITEH.L vs. VDTA.L - Dividend Comparison
Neither ITEH.L nor VDTA.L has paid dividends to shareholders.
Frequently Asked Questions
ITEH.L and VDTA.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDTA.L is cheaper with a 0.05% expense ratio, compared with 0.22% for ITEH.L.
ITEH.L tracks iShares Italy Govt Bond UCITS ETF USD Hedged (Acc), while VDTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.22% for ITEH.L and 0.05% for VDTA.L.
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