SPPB.L vs. VDST.L
SPPB.L (iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist)) and VDST.L (Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating) are both Government Bonds funds - SPPB.L tracks the iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) while VDST.L tracks the Bloomberg Short Treasury Index. Both are passively managed. Over the past 3 years, SPPB.L returned 4.93%/yr vs 3.49%/yr for VDST.L. At a correlation of -0.18, they often move in opposite directions.
Performance
SPPB.L vs. VDST.L - Performance Comparison
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Different Trading Currencies
SPPB.L is traded in GBP, while VDST.L is traded in USD. To make them comparable, the VDST.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPPB.L achieves a 0.85% return, which is significantly lower than VDST.L's 1.42% return.
SPPB.L
- 1D
- -0.37%
- 1M
- -0.63%
- 6M
- 0.48%
- YTD
- 0.85%
- 1Y
- 3.26%
- 3Y*
- 4.93%
- 5Y*
- —
- 10Y*
- —
VDST.L
- 1D
- -1.00%
- 1M
- -0.57%
- 6M
- 1.08%
- YTD
- 1.42%
- 1Y
- 2.79%
- 3Y*
- 3.49%
- 5Y*
- 3.80%
- 10Y*
- —
SPPB.L vs. VDST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPPB.L iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) | 0.85% | 3.56% | 4.29% | 8.02% | -0.67% |
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating | 1.42% | -3.16% | 7.08% | -0.27% | -5.63% |
Correlation
The correlation between SPPB.L and VDST.L is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | -0.18 |
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Return for Risk
SPPB.L vs. VDST.L — Risk / Return Rank
SPPB.L
VDST.L
SPPB.L vs. VDST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) (SPPB.L) and Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.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.
| SPPB.L | VDST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.08 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 0.54 | +0.50 |
| Martin ratioReturn relative to average drawdown | 3.13 | 1.47 | +1.65 |
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Drawdowns
SPPB.L vs. VDST.L - Drawdown Comparison
The maximum SPPB.L drawdown since its inception was -6.07%, smaller than the maximum VDST.L drawdown of -15.91%. Use the drawdown chart below to compare losses from any high point for SPPB.L and VDST.L.
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Drawdown Indicators
| SPPB.L | VDST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.07% | -15.91% | +9.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -5.13% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -9.85% | +6.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.91% | — |
Current DrawdownCurrent decline from peak | -1.36% | -6.51% | +5.15% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -7.56% | +5.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.89% | -0.79% |
Volatility
SPPB.L vs. VDST.L - Volatility Comparison
The current volatility for iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) (SPPB.L) is 1.31%, while Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.L) has a volatility of 2.02%. This indicates that SPPB.L experiences smaller price fluctuations and is considered to be less risky than VDST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPPB.L | VDST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 2.02% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 5.06% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 6.54% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 8.45% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 8.32% | -2.58% |
Dividends
SPPB.L vs. VDST.L - Dividend Comparison
SPPB.L's dividend yield for the trailing twelve months is around 2.48%, while VDST.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
SPPB.L iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist) | 2.48% | 2.37% | 1.89% | 1.29% |
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPPB.L and VDST.L have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPPB.L tracks iShares Spain Govt Bond UCITS ETF GBP Hedged (Dist), while VDST.L tracks Bloomberg Short Treasury Index. They also come from different issuers: iShares and Vanguard.
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