USTY.L vs. VDST.L
USTY.L (SPDR Bloomberg US Treasury Bond UCITS ETF) and VDST.L (Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating) are both Government Bonds funds - USTY.L tracks the Bloomberg US Treasury Index while VDST.L tracks the Bloomberg Short Treasury Index. Both are passively managed. Over the past 5 years, USTY.L returned 1.37%/yr vs 4.40%/yr for VDST.L. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.
Performance
USTY.L vs. VDST.L - Performance Comparison
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Different Trading Currencies
USTY.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, USTY.L achieves a 0.66% return, which is significantly lower than VDST.L's 1.87% return.
USTY.L
- 1D
- 0.21%
- 1M
- 1.14%
- YTD
- 0.66%
- 6M
- 0.16%
- 1Y
- 6.01%
- 3Y*
- 1.22%
- 5Y*
- 1.37%
- 10Y*
- 2.28%
VDST.L
- 1D
- 0.04%
- 1M
- 1.23%
- YTD
- 1.87%
- 6M
- 1.04%
- 1Y
- 4.96%
- 3Y*
- 2.08%
- 5Y*
- 4.40%
- 10Y*
- —
USTY.L vs. VDST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 0.66% | 0.10% | 3.36% | -1.37% | -1.66% | -0.86% | -6.38% |
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating | 1.87% | -3.17% | 7.08% | -0.26% | 12.57% | 0.13% | -5.17% |
Correlation
The correlation between USTY.L and VDST.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020 | 0.53 |
The correlation between USTY.L and VDST.L shifts across timeframes, from 0.53 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
USTY.L vs. VDST.L — Risk / Return Rank
USTY.L
VDST.L
USTY.L vs. VDST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.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.
| USTY.L | VDST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.13 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.96 | +0.19 |
| Martin ratioReturn relative to average drawdown | 3.15 | 2.61 | +0.55 |
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
| USTY.L | VDST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.76 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.55 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.29 | +0.03 |
Drawdowns
USTY.L vs. VDST.L - Drawdown Comparison
The maximum USTY.L drawdown since its inception was -23.02%, which is greater than VDST.L's maximum drawdown of -15.91%. Use the drawdown chart below to compare losses from any high point for USTY.L and VDST.L.
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Drawdown Indicators
| USTY.L | VDST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.02% | -15.91% | -7.11% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -5.14% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.75% | -9.86% | +2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -15.91% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | — | — |
Current DrawdownCurrent decline from peak | -15.58% | -6.10% | -9.48% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -7.99% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.90% | 0.00% |
Volatility
USTY.L vs. VDST.L - Volatility Comparison
SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) has a higher volatility of 2.21% compared to Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating (VDST.L) at 1.78%. This indicates that USTY.L's price experiences larger fluctuations and is considered to be riskier 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
| USTY.L | VDST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 1.78% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 4.79% | 4.93% | -0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.35% | 6.53% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.77% | 8.87% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 8.93% | +1.09% |
USTY.L vs. VDST.L - Expense Ratio Comparison
Both USTY.L and VDST.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
USTY.L vs. VDST.L - Dividend Comparison
USTY.L's dividend yield for the trailing twelve months is around 4.87%, while VDST.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 4.87% | 4.61% | 3.81% | 2.81% | 1.57% | 1.31% | 2.49% | 2.79% | 2.11% | 2.11% | 1.66% |
VDST.L Vanguard U.S. Treasury 0-1 Year Bond UCITS ETF (USD) Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USTY.L and VDST.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
USTY.L and VDST.L have the same expense ratio: 0.05% per year.
USTY.L tracks Bloomberg US Treasury Index, while VDST.L tracks Bloomberg Short Treasury Index. They also come from different issuers: State Street and Vanguard.
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