IUSM.DE vs. VAGT.DE
IUSM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and VAGT.DE (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - IUSM.DE tracks the ICE US Treasury 7-10 Year while VAGT.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 3 years, IUSM.DE returned -0.48%/yr vs 0.08%/yr for VAGT.DE. With a 0.96 correlation, they move nearly in lockstep. IUSM.DE charges 0.07%/yr vs 0.05%/yr for VAGT.DE.
Performance
IUSM.DE vs. VAGT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSM.DE achieves a 0.22% return, which is significantly lower than VAGT.DE's 1.07% return.
IUSM.DE
- 1D
- 0.13%
- 1M
- 0.27%
- YTD
- 0.22%
- 6M
- -0.59%
- 1Y
- 1.69%
- 3Y*
- -0.48%
- 5Y*
- -0.31%
- 10Y*
- 0.29%
VAGT.DE
- 1D
- 0.09%
- 1M
- 0.85%
- YTD
- 1.07%
- 6M
- 0.31%
- 1Y
- 1.96%
- 3Y*
- 0.08%
- 5Y*
- —
- 10Y*
- —
IUSM.DE vs. VAGT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 0.22% | -4.06% | 5.00% | -0.80% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 1.07% | -5.48% | 6.40% | -0.45% |
Correlation
The correlation between IUSM.DE and VAGT.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023 | 0.96 |
The correlation between IUSM.DE and VAGT.DE has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.
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Return for Risk
IUSM.DE vs. VAGT.DE — Risk / Return Rank
IUSM.DE
VAGT.DE
IUSM.DE vs. VAGT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE). 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.
| IUSM.DE | VAGT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.40 | -0.11 |
| Martin ratioReturn relative to average drawdown | 0.74 | 1.00 | -0.26 |
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
| IUSM.DE | VAGT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.23 | 0.29 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.05 | +0.22 |
Drawdowns
IUSM.DE vs. VAGT.DE - Drawdown Comparison
The maximum IUSM.DE drawdown since its inception was -21.40%, which is greater than VAGT.DE's maximum drawdown of -11.03%. Use the drawdown chart below to compare losses from any high point for IUSM.DE and VAGT.DE.
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Drawdown Indicators
| IUSM.DE | VAGT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.40% | -11.03% | -10.37% |
Max Drawdown (1Y)Largest decline over 1 year | -4.45% | -4.00% | -0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -10.86% | -11.03% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -15.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.40% | — | — |
Current DrawdownCurrent decline from peak | -17.38% | -7.21% | -10.17% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -5.04% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.61% | +0.18% |
Volatility
IUSM.DE vs. VAGT.DE - Volatility Comparison
iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IUSM.DE) has a higher volatility of 1.14% compared to Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) at 0.86%. This indicates that IUSM.DE's price experiences larger fluctuations and is considered to be riskier than VAGT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSM.DE | VAGT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.86% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 3.76% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 5.49% | +0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.96% | 7.33% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 7.33% | +1.00% |
IUSM.DE vs. VAGT.DE - Expense Ratio Comparison
IUSM.DE has a 0.07% expense ratio, which is higher than VAGT.DE'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
IUSM.DE vs. VAGT.DE - Dividend Comparison
IUSM.DE's dividend yield for the trailing twelve months is around 3.72%, while VAGT.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 3.72% | 3.73% | 3.65% | 2.91% | 1.93% | 0.96% | 1.53% | 2.24% | 2.07% | 1.83% | 1.66% | 1.84% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, IUSM.DE and VAGT.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VAGT.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGT.DE is cheaper with a 0.05% expense ratio, compared with 0.07% for IUSM.DE.
IUSM.DE tracks ICE US Treasury 7-10 Year, while VAGT.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IUSM.DE and 0.05% for VAGT.DE.
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