UTEN vs. VGLT
UTEN (US Treasury 10 Year Note ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds - UTEN tracks the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross while VGLT tracks the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 3 years, UTEN returned 2.53%/yr vs 0.21%/yr for VGLT. Their 0.95 correlation means they have historically moved very closely together. UTEN charges 0.15%/yr vs 0.03%/yr for VGLT.
Performance
UTEN vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, UTEN achieves a -1.01% return, which is significantly higher than VGLT's -2.15% return.
UTEN
- 1D
- 0.51%
- 1M
- -0.85%
- 6M
- -0.60%
- YTD
- -1.01%
- 1Y
- 1.06%
- 3Y*
- 2.53%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.04%
VGLT
- 1D
- 0.78%
- 1M
- -2.40%
- 6M
- -1.94%
- YTD
- -2.15%
- 1Y
- -0.79%
- 3Y*
- 0.21%
- 5Y*
- -6.97%
- 10Y*
- -1.64%
- ALL TIME*
- 2.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.31M | $2.40M | $1.82M | |
| $99.45M | $99.43M | $109.17M |
UTEN vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | -1.01% | 7.82% | -1.67% | 3.18% | -7.81% |
VGLT Vanguard Long-Term Treasury ETF | -2.15% | 5.35% | -6.28% | 3.27% | -13.67% |
Correlation
The correlation between UTEN and VGLT is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.95 |
The correlation between UTEN and VGLT has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
UTEN vs. VGLT — Risk / Return Rank
UTEN
VGLT
UTEN vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| UTEN | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.99 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | -0.11 | +0.35 |
| Martin ratioReturn relative to average drawdown | 0.55 | -0.24 | +0.79 |
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Drawdowns
UTEN vs. VGLT - Drawdown Comparison
The maximum UTEN drawdown since its inception was -13.36%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for UTEN and VGLT.
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Drawdown Indicators
| UTEN | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -46.18% | +32.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.57% | -7.03% | +2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.72% | -13.38% | +5.66% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.18% | — |
Current DrawdownCurrent decline from peak | -3.36% | -37.93% | +34.57% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -15.28% | +10.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 3.24% | -1.29% |
Volatility
UTEN vs. VGLT - Volatility Comparison
The current volatility for US Treasury 10 Year Note ETF (UTEN) is 1.45%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.48%. This indicates that UTEN experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UTEN | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 2.48% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.00% | 6.36% | -2.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 8.41% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.96% | 14.46% | -6.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.96% | 13.74% | -5.78% |
UTEN vs. VGLT - Expense Ratio Comparison
UTEN has a 0.15% expense ratio, which is higher than VGLT'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. VGLT - Dividend Comparison
UTEN's dividend yield for the trailing twelve months is around 4.10%, less than VGLT's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UTEN US Treasury 10 Year Note ETF | 4.10% | 4.11% | 4.13% | 3.62% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.74% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
With a correlation of 0.94, UTEN and VGLT 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.
VGLT has higher volatility (2.48%) compared to UTEN (1.45%). In terms of maximum drawdown, UTEN dropped -13.36% vs VGLT's -46.18%.
On 3-year performance, UTEN leads with 2.53% vs 0.21% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, UTEN has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UTEN has performed better with a 2.53% return vs 0.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.15% for UTEN.
VGLT has the higher dividend yield at 4.74%, compared with 4.10% for UTEN.
UTEN tracks ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross, while VGLT tracks Bloomberg U.S. Long Treasury Index. They also come from different issuers: US Benchmark Series and Vanguard. Their fees differ too: 0.15% for UTEN and 0.03% for VGLT.
UTEN currently has the higher Sharpe Ratio (0.21 vs -0.09), 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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