TGBT.DE vs. VGOV.DE
TGBT.DE (VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF) and VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) are both European Government Bonds funds - TGBT.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 1-10 while VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, TGBT.DE returned -2.05%/yr vs -5.47%/yr for VGOV.DE. A 0.66 correlation means they provide meaningful diversification when combined. TGBT.DE charges 0.15%/yr vs 0.07%/yr for VGOV.DE.
Performance
TGBT.DE vs. VGOV.DE - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with TGBT.DE at -0.51% and VGOV.DE at -0.51%.
TGBT.DE
- 1D
- 0.11%
- 1M
- 0.02%
- YTD
- -0.51%
- 6M
- 0.56%
- 1Y
- 0.78%
- 3Y*
- 2.64%
- 5Y*
- -2.05%
- 10Y*
- —
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
TGBT.DE vs. VGOV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | -0.51% | 2.54% | 1.35% | 7.34% | -18.19% | -2.64% | 3.34% | 5.03% | 0.26% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -0.92% |
Correlation
The correlation between TGBT.DE and VGOV.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.66 |
The correlation between TGBT.DE and VGOV.DE shifts across timeframes, from 0.60 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TGBT.DE vs. VGOV.DE — Risk / Return Rank
TGBT.DE
VGOV.DE
TGBT.DE vs. VGOV.DE - 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 Vanguard UK Gilt UCITS ETF Distributing (VGOV.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.
| TGBT.DE | VGOV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.99 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.13 | +0.24 |
| Martin ratioReturn relative to average drawdown | 0.29 | -0.29 | +0.58 |
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
| TGBT.DE | VGOV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | -0.08 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | -0.42 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | -0.13 | +0.04 |
Drawdowns
TGBT.DE vs. VGOV.DE - Drawdown Comparison
The maximum TGBT.DE drawdown since its inception was -21.36%, smaller than the maximum VGOV.DE drawdown of -40.95%. Use the drawdown chart below to compare losses from any high point for TGBT.DE and VGOV.DE.
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Drawdown Indicators
| TGBT.DE | VGOV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.36% | -40.95% | +19.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -5.37% | +2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -9.01% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -21.12% | -40.45% | +19.33% |
Current DrawdownCurrent decline from peak | -11.91% | -30.35% | +18.44% |
Average DrawdownAverage peak-to-trough decline | -9.23% | -16.60% | +7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 2.35% | -1.09% |
Volatility
TGBT.DE vs. VGOV.DE - Volatility Comparison
The current volatility for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) is 1.55%, while Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a volatility of 3.34%. This indicates that TGBT.DE experiences smaller price fluctuations and is considered to be less risky than VGOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGBT.DE | VGOV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 3.34% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 6.15% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 7.99% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 12.87% | -6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.67% | 11.86% | -6.19% |
TGBT.DE vs. VGOV.DE - Expense Ratio Comparison
TGBT.DE has a 0.15% expense ratio, which is higher than VGOV.DE's 0.07% 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
TGBT.DE vs. VGOV.DE - Dividend Comparison
TGBT.DE's dividend yield for the trailing twelve months is around 1.95%, less than VGOV.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | 1.95% | 2.17% | 1.13% | 0.57% | 0.60% | 0.77% | 0.75% | 0.35% | 0.00% | 0.00% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% |
Frequently Asked Questions
TGBT.DE and VGOV.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for TGBT.DE.
TGBT.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 1-10, while VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.15% for TGBT.DE and 0.07% for VGOV.DE.
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