TGBT.DE vs. IGOV

Last updated Apr 3, 2026

Compare and contrast key facts about VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) and iShares International Treasury Bond ETF (IGOV).

TGBT.DE and IGOV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TGBT.DE is a passively managed fund by VanEck that tracks the performance of the iBoxx® EUR Liquid Sovereigns Diversified 1-10. It was launched on Mar 9, 2011. IGOV is a passively managed fund by iShares that tracks the performance of the S&P/Citigroup International Treasury Bond Index Ex-US. It was launched on Jan 21, 2009. Both TGBT.DE and IGOV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

TGBT.DE vs. IGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) and iShares International Treasury Bond ETF (IGOV). The values are adjusted to include any dividend payments, if applicable.

TGBT.DE vs. IGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF	-1.22%	2.54%	1.35%	7.34%	-18.19%	-2.64%	3.34%	5.03%	0.26%
IGOV iShares International Treasury Bond ETF	0.18%	-3.09%	-0.33%	2.40%	-17.24%	-2.46%	1.74%	6.10%	0.27%

Different Trading Currencies

TGBT.DE is traded in EUR, while IGOV is traded in USD. To make them comparable, the IGOV values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, TGBT.DE achieves a -1.22% return, which is significantly lower than IGOV's 0.33% return.

TGBT.DE

• 1D: -0.75%
• 1M: -1.84%
• YTD: -1.22%
• 6M: -0.42%
• 1Y: 1.58%
• 3Y*: 2.31%
• 5Y*: -2.35%
• 10Y*: —

IGOV

• 1D: 0.00%
• 1M: -1.92%
• YTD: 0.33%
• 6M: -0.74%
• 1Y: -1.54%
• 3Y*: -0.81%
• 5Y*: -3.82%
• 10Y*: -1.47%

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

TGBT.DE vs. IGOV - Expense Ratio Comparison

TGBT.DE has a 0.15% expense ratio, which is lower than IGOV's 0.35% expense ratio.

IGOV

iShares International Treasury Bond ETF

TGBT.DE

VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF

Return for Risk

TGBT.DE vs. IGOV — Risk / Return Rank

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

TGBT.DE

TGBT.DE Risk / Return Rank: 18
TGBT.DE Sharpe Ratio Rank: 21
TGBT.DE Sortino Ratio Rank: 19
TGBT.DE Omega Ratio Rank: 18
TGBT.DE Calmar Ratio Rank: 15
TGBT.DE Martin Ratio Rank: 17

IGOV

IGOV Risk / Return Rank: 26
IGOV Sharpe Ratio Rank: 26
IGOV Sortino Ratio Rank: 26
IGOV Omega Ratio Rank: 23
IGOV Calmar Ratio Rank: 29
IGOV Martin Ratio Rank: 25

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.

TGBT.DE vs. IGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) and iShares International Treasury Bond ETF (IGOV). 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.

	TGBT.DE	IGOV	Difference
Sharpe ratio Return per unit of total volatility	0.39	-0.35	+0.74
Sortino ratio Return per unit of downside risk	0.55	-0.42	+0.98
Omega ratio Gain probability vs. loss probability	1.07	0.95	+0.13
Calmar ratio Return relative to maximum drawdown	0.33	-0.43	+0.75
Martin ratio Return relative to average drawdown	1.23	-0.84	+2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGBT.DE vs. IGOV - Sharpe Ratio Comparison

The current TGBT.DE Sharpe Ratio is 0.39, which is higher than the IGOV Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of TGBT.DE and IGOV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TGBT.DE	IGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	-0.35	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	-0.59	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.12	-0.23

Correlation

The correlation between TGBT.DE and IGOV is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TGBT.DE vs. IGOV - Dividend Comparison

TGBT.DE's dividend yield for the trailing twelve months is around 2.38%, more than IGOV's 1.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF	2.38%	2.17%	1.13%	0.57%	0.60%	0.77%	0.75%	0.35%	0.00%	0.00%	0.00%	0.00%
IGOV iShares International Treasury Bond ETF	1.43%	1.41%	0.59%	0.00%	0.11%	0.39%	0.00%	0.24%	0.31%	0.19%	0.69%	0.12%

Drawdowns

TGBT.DE vs. IGOV - Drawdown Comparison

The maximum TGBT.DE drawdown since its inception was -21.36%, smaller than the maximum IGOV drawdown of -25.14%. Use the drawdown chart below to compare losses from any high point for TGBT.DE and IGOV.

Drawdown Indicators

	TGBT.DE	IGOV	Difference
Max Drawdown Largest peak-to-trough decline	-21.36%	-35.88%	+14.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-5.70%	+2.38%
Max Drawdown (5Y) Largest decline over 5 years	-21.12%	-33.17%	+12.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.88%	—
Current Drawdown Current decline from peak	-12.54%	-24.84%	+12.30%
Average Drawdown Average peak-to-trough decline	-9.16%	-10.89%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	2.17%	-1.28%

Volatility

TGBT.DE vs. IGOV - Volatility Comparison

The current volatility for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) is 2.06%, while iShares International Treasury Bond ETF (IGOV) has a volatility of 2.32%. This indicates that TGBT.DE experiences smaller price fluctuations and is considered to be less risky than IGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGBT.DE	IGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	2.32%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.25%	3.08%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.02%	4.49%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	6.54%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.67%	5.82%	-0.15%