UTEN vs. VGIT
UTEN (US Treasury 10 Year Note ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both Government Bonds funds - UTEN tracks the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross while VGIT tracks the Bloomberg U.S. Treasury 3-10 Year Index. Both are passively managed. Over the past 3 years, UTEN returned 1.86%/yr vs 3.40%/yr for VGIT. With a 0.97 correlation, they move nearly in lockstep. UTEN charges 0.15%/yr vs 0.03%/yr for VGIT.
Performance
UTEN vs. VGIT - Performance Comparison
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Returns By Period
In the year-to-date period, UTEN achieves a -0.69% return, which is significantly lower than VGIT's -0.46% return.
UTEN
- 1D
- -0.26%
- 1M
- 0.01%
- YTD
- -0.69%
- 6M
- -1.30%
- 1Y
- 4.26%
- 3Y*
- 1.86%
- 5Y*
- —
- 10Y*
- —
VGIT
- 1D
- -0.19%
- 1M
- -0.16%
- YTD
- -0.46%
- 6M
- -0.60%
- 1Y
- 3.54%
- 3Y*
- 3.40%
- 5Y*
- 0.05%
- 10Y*
- 1.23%
UTEN vs. VGIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | -0.69% | 7.82% | -1.67% | 3.18% | -7.79% |
VGIT Vanguard Intermediate-Term Treasury ETF | -0.46% | 7.34% | 1.39% | 4.28% | -4.00% |
Correlation
The correlation between UTEN and VGIT is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.97 |
The correlation between UTEN and VGIT has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
UTEN vs. VGIT — Risk / Return Rank
UTEN
VGIT
UTEN vs. VGIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and Vanguard Intermediate-Term Treasury ETF (VGIT). 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.
| UTEN | VGIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.18 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.25 | -0.32 |
| Martin ratioReturn relative to average drawdown | 2.82 | 3.75 | -0.93 |
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
| UTEN | VGIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.05 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.01 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.49 | -0.49 |
Drawdowns
UTEN vs. VGIT - Drawdown Comparison
The maximum UTEN drawdown since its inception was -13.36%, smaller than the maximum VGIT drawdown of -16.05%. Use the drawdown chart below to compare losses from any high point for UTEN and VGIT.
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Drawdown Indicators
| UTEN | VGIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -16.05% | +2.69% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -2.83% | -1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.60% | -4.34% | -4.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.05% | — |
Current DrawdownCurrent decline from peak | -3.05% | -2.39% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -4.82% | -3.52% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 0.94% | +0.57% |
Volatility
UTEN vs. VGIT - Volatility Comparison
US Treasury 10 Year Note ETF (UTEN) has a higher volatility of 1.71% compared to Vanguard Intermediate-Term Treasury ETF (VGIT) at 1.05%. This indicates that UTEN's price experiences larger fluctuations and is considered to be riskier than VGIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTEN | VGIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 1.05% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.65% | 2.33% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 3.38% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 5.38% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.05% | 4.50% | +3.55% |
UTEN vs. VGIT - Expense Ratio Comparison
UTEN has a 0.15% expense ratio, which is higher than VGIT'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
UTEN vs. VGIT - Dividend Comparison
UTEN's dividend yield for the trailing twelve months is around 4.05%, more than VGIT's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | 4.05% | 4.11% | 4.13% | 3.62% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGIT Vanguard Intermediate-Term Treasury ETF | 3.87% | 3.79% | 3.67% | 2.73% | 1.74% | 1.69% | 2.23% | 2.24% | 2.05% | 1.67% | 1.69% | 1.69% |
Frequently Asked Questions
With a correlation of 0.97, UTEN and VGIT 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.
UTEN has higher volatility (1.71%) compared to VGIT (1.05%). In terms of maximum drawdown, UTEN dropped -13.36% vs VGIT's -16.05%.
On 3-year performance, VGIT leads with 3.40% vs 1.86% for UTEN. On fees, VGIT is cheaper at 0.03% per year. On volatility, VGIT has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VGIT has performed better with a 3.40% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGIT is cheaper with a 0.03% expense ratio, compared with 0.15% for UTEN.
UTEN has the higher dividend yield at 4.05%, compared with 3.87% for VGIT.
UTEN tracks ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross, while VGIT tracks Bloomberg U.S. Treasury 3-10 Year Index. They also come from different issuers: US Benchmark Series and Vanguard. Their fees differ too: 0.15% for UTEN and 0.03% for VGIT.
VGIT currently has the higher Sharpe Ratio (1.05 vs 0.82), 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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