PLW vs. VGLT
PLW (Invesco 1-30 Laddered Treasury ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - PLW tracks the Ryan/NASDAQ 1-30 Year Treasury Laddered Index while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, PLW returned -0.10%/yr vs -1.10%/yr for VGLT. With a 0.96 correlation, they move nearly in lockstep. PLW charges 0.25%/yr vs 0.03%/yr for VGLT.
Performance
PLW vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, PLW achieves a -0.55% return, which is significantly lower than VGLT's -0.41% return. Over the past 10 years, PLW has outperformed VGLT with an annualized return of -0.10%, while VGLT has yielded a comparatively lower -1.10% annualized return.
PLW
- 1D
- -0.33%
- 1M
- 0.34%
- YTD
- -0.55%
- 6M
- -1.32%
- 1Y
- 4.34%
- 3Y*
- 0.89%
- 5Y*
- -2.77%
- 10Y*
- -0.10%
VGLT
- 1D
- -0.40%
- 1M
- 0.71%
- YTD
- -0.41%
- 6M
- -1.68%
- 1Y
- 5.25%
- 3Y*
- -0.72%
- 5Y*
- -5.30%
- 10Y*
- -1.10%
PLW vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | -0.55% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
VGLT Vanguard Long-Term Treasury ETF | -0.41% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between PLW and VGLT is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2009 | 0.96 |
The correlation between PLW and VGLT has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
PLW vs. VGLT — Risk / Return Rank
PLW
VGLT
PLW vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| PLW | VGLT | 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 | 1.11 | 1.10 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 0.75 | +0.05 |
| Martin ratioReturn relative to average drawdown | 2.24 | 1.96 | +0.28 |
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
| PLW | VGLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.59 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | -0.37 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | -0.08 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.19 | +0.13 |
Drawdowns
PLW vs. VGLT - Drawdown Comparison
The maximum PLW drawdown since its inception was -32.70%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for PLW and VGLT.
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Drawdown Indicators
| PLW | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -46.18% | +13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -7.01% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -17.68% | +6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -40.98% | +12.68% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -46.18% | +13.48% |
Current DrawdownCurrent decline from peak | -22.38% | -36.83% | +14.45% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -15.06% | +5.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 2.68% | -0.74% |
Volatility
PLW vs. VGLT - Volatility Comparison
The current volatility for Invesco 1-30 Laddered Treasury ETF (PLW) is 2.04%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.59%. This indicates that PLW experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PLW | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 2.59% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 5.94% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.58% | 8.88% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 14.58% | -4.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 13.81% | -4.71% |
PLW vs. VGLT - Expense Ratio Comparison
PLW has a 0.25% expense ratio, which is higher than VGLT's 0.03% 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
PLW vs. VGLT - Dividend Comparison
PLW's dividend yield for the trailing twelve months is around 3.83%, less than VGLT's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | 3.83% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
VGLT Vanguard Long-Term Treasury ETF | 4.61% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
With a correlation of 0.99, PLW and VGLT 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.
VGLT has higher volatility (2.59%) compared to PLW (2.04%). In terms of maximum drawdown, PLW dropped -32.70% vs VGLT's -46.18%.
On 10-year performance, PLW leads with -0.10% vs -1.10% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, PLW has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PLW has performed better with a -0.10% return vs -1.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.25% for PLW.
VGLT has the higher dividend yield at 4.61%, compared with 3.83% for PLW.
PLW tracks Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.25% for PLW and 0.03% for VGLT.
PLW currently has the higher Sharpe Ratio (0.66 vs 0.59), 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.
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