MAGG vs. VTG

Last updated Jul 16, 2026

MAGG (Madison Aggregate Bond ETF) and VTG (Vanguard Total Treasury ETF) are both exchange-traded funds - MAGG is a Intermediate Core Bond fund actively managed by Madison, while VTG is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. MAGG is actively managed, while VTG is passively managed. Over the past year, MAGG returned 4.57% vs 3.53% for VTG. A 0.77 correlation means they provide meaningful diversification when combined. MAGG charges 0.40%/yr vs 0.03%/yr for VTG.

Performance

MAGG vs. VTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Aggregate Bond ETF (MAGG) and Vanguard Total Treasury ETF (VTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGG achieves a 0.16% return, which is significantly higher than VTG's -0.06% return.

MAGG

• 1D: 0.20%
• 1M: -0.43%
• 6M: -0.37%
• YTD: 0.16%
• 1Y: 4.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTG

• 1D: 0.20%
• 1M: -0.23%
• 6M: -0.38%
• YTD: -0.06%
• 1Y: 3.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MAGG vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
MAGG Madison Aggregate Bond ETF	0.16%	3.98%
VTG Vanguard Total Treasury ETF	-0.06%	3.07%

Correlation

The correlation between MAGG and VTG is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.77

The correlation between MAGG and VTG has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

Return for Risk

MAGG vs. VTG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAGG

MAGG Risk / Return Rank: 38
MAGG Sharpe Ratio Rank: 39
MAGG Sortino Ratio Rank: 41
MAGG Omega Ratio Rank: 38
MAGG Calmar Ratio Rank: 38
MAGG Martin Ratio Rank: 35

VTG

VTG Risk / Return Rank: 31
VTG Sharpe Ratio Rank: 33
VTG Sortino Ratio Rank: 34
VTG Omega Ratio Rank: 31
VTG Calmar Ratio Rank: 30
VTG Martin Ratio Rank: 29

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.

MAGG vs. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Aggregate Bond ETF (MAGG) and Vanguard Total Treasury ETF (VTG). 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.

	MAGG	VTG	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.01	+0.17
Sortino ratio: Return per unit of downside risk	1.80	1.51	+0.29
Omega ratio: Gain probability vs. loss probability	1.22	1.18	+0.04
Calmar ratio: Return relative to maximum drawdown	1.60	1.23	+0.38
Martin ratio: Return relative to average drawdown	4.52	3.17	+1.35

MAGG vs. VTG - Sharpe Ratio Comparison

The current MAGG Sharpe Ratio is 1.18, which is comparable to the VTG Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of MAGG and VTG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MAGG vs. VTG - Drawdown Comparison

The maximum MAGG drawdown since its inception was -4.56%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for MAGG and VTG.

Drawdown Indicators

	MAGG	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-4.56%	-2.89%	-1.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-2.89%	+0.03%
Current Drawdown Current decline from peak	-1.51%	-1.84%	+0.33%
Average Drawdown Average peak-to-trough decline	-1.25%	-0.84%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.11%	-0.10%

Volatility

MAGG vs. VTG - Volatility Comparison

Madison Aggregate Bond ETF (MAGG) and Vanguard Total Treasury ETF (VTG) have volatilities of 1.07% and 1.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGG	VTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.06%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	2.66%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	3.53%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	3.53%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	3.53%	+1.17%

MAGG vs. VTG - Expense Ratio Comparison

MAGG has a 0.40% expense ratio, which is higher than VTG's 0.03% expense ratio.

Dividends

MAGG vs. VTG - Dividend Comparison

MAGG's dividend yield for the trailing twelve months is around 4.77%, more than VTG's 3.54% yield.

Position	TTM	2025	2024	2023
MAGG Madison Aggregate Bond ETF	4.77%	4.80%	5.13%	1.49%
VTG Vanguard Total Treasury ETF	3.54%	1.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGG and VTG in my portfolio?

MAGG and VTG have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGG or VTG?

MAGG has higher volatility (1.07%) compared to VTG (1.06%). In terms of maximum drawdown, MAGG dropped -4.56% vs VTG's -2.89%.

Which ETF is better, MAGG or VTG?

On 1-year performance, MAGG leads with 4.57% vs 3.53% for VTG. On fees, VTG is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGG or VTG?

Over the 1-year period, MAGG has performed better with a 4.57% return vs 3.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGG or VTG?

VTG is cheaper with a 0.03% expense ratio, compared with 0.40% for MAGG.

Which ETF pays a higher dividend yield, MAGG or VTG?

MAGG has the higher dividend yield at 4.77%, compared with 3.54% for VTG.

What is the main difference between MAGG and VTG?

MAGG is categorized as Intermediate Core Bond, while VTG is Government Bonds. They also come from different issuers: Madison and Vanguard. Their fees differ too: 0.40% for MAGG and 0.03% for VTG.

Which has better risk-adjusted returns?

MAGG currently has the higher Sharpe Ratio (1.18 vs 1.01), 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.