VAGT.DE vs. TLT

Last updated Apr 3, 2026

Compare and contrast key facts about Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) and iShares 20+ Year Treasury Bond ETF (TLT).

VAGT.DE and TLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAGT.DE is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate US Treasury Float Adjusted. It was launched on Feb 19, 2019. TLT is a passively managed fund by iShares that tracks the performance of the ICE U.S. Treasury 20+ Year Bond Index. It was launched on Jul 22, 2002. Both VAGT.DE and TLT 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

VAGT.DE vs. TLT - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) and iShares 20+ Year Treasury Bond ETF (TLT). The values are adjusted to include any dividend payments, if applicable.

VAGT.DE vs. TLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating	1.97%	-5.48%	6.40%	-0.45%
TLT iShares 20+ Year Treasury Bond ETF	2.51%	-8.12%	-1.98%	-4.36%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, VAGT.DE achieves a 1.97% return, which is significantly lower than TLT's 2.51% return.

VAGT.DE

• 1D: 0.63%
• 1M: -0.66%
• YTD: 1.97%
• 6M: 2.09%
• 1Y: -2.97%
• 3Y*: 0.45%
• 5Y*: —
• 10Y*: —

TLT

• 1D: 1.07%
• 1M: -1.93%
• YTD: 2.51%
• 6M: 0.66%
• 1Y: -6.86%
• 3Y*: -4.59%
• 5Y*: -5.37%
• 10Y*: -1.46%

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

VAGT.DE vs. TLT - Expense Ratio Comparison

VAGT.DE has a 0.07% expense ratio, which is lower than TLT's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

TLT

iShares 20+ Year Treasury Bond ETF

VAGT.DE

Vanguard USD Treasury Bond UCITS ETF Accumulating

Return for Risk

VAGT.DE vs. TLT — Risk / Return Rank

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

VAGT.DE

VAGT.DE Risk / Return Rank: 6
VAGT.DE Sharpe Ratio Rank: 6
VAGT.DE Sortino Ratio Rank: 5
VAGT.DE Omega Ratio Rank: 5
VAGT.DE Calmar Ratio Rank: 8
VAGT.DE Martin Ratio Rank: 9

TLT

TLT Risk / Return Rank: 10
TLT Sharpe Ratio Rank: 10
TLT Sortino Ratio Rank: 9
TLT Omega Ratio Rank: 9
TLT Calmar Ratio Rank: 10
TLT Martin Ratio Rank: 10

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.

VAGT.DE vs. TLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) and iShares 20+ Year Treasury Bond ETF (TLT). 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.

	VAGT.DE	TLT	Difference
Sharpe ratio Return per unit of total volatility	-0.40	-0.53	+0.13
Sortino ratio Return per unit of downside risk	-0.47	-0.61	+0.14
Omega ratio Gain probability vs. loss probability	0.94	0.92	+0.02
Calmar ratio Return relative to maximum drawdown	-0.24	-0.57	+0.33
Martin ratio Return relative to average drawdown	-0.37	-0.82	+0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAGT.DE vs. TLT - Sharpe Ratio Comparison

The current VAGT.DE Sharpe Ratio is -0.40, which is comparable to the TLT Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of VAGT.DE and TLT, 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

	VAGT.DE	TLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	-0.53	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.33	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.24	-0.15

Correlation

The correlation between VAGT.DE and TLT is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VAGT.DE vs. TLT - Dividend Comparison

VAGT.DE has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.51%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TLT iShares 20+ Year Treasury Bond ETF	4.51%	4.43%	4.30%	3.38%	2.67%	1.50%	1.50%	2.27%	2.63%	2.43%	2.60%	2.61%

Drawdowns

VAGT.DE vs. TLT - Drawdown Comparison

The maximum VAGT.DE drawdown since its inception was -11.03%, smaller than the maximum TLT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for VAGT.DE and TLT.

Drawdown Indicators

	VAGT.DE	TLT	Difference
Max Drawdown Largest peak-to-trough decline	-11.03%	-48.35%	+37.32%
Max Drawdown (1Y) Largest decline over 1 year	-7.92%	-9.23%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	—	-43.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.35%	—
Current Drawdown Current decline from peak	-6.38%	-39.86%	+33.48%
Average Drawdown Average peak-to-trough decline	-4.89%	-13.63%	+8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	4.40%	+0.76%

Volatility

VAGT.DE vs. TLT - Volatility Comparison

The current volatility for Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) is 2.04%, while iShares 20+ Year Treasury Bond ETF (TLT) has a volatility of 3.81%. This indicates that VAGT.DE experiences smaller price fluctuations and is considered to be less risky than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAGT.DE	TLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	3.81%	-1.77%
Volatility (6M) Calculated over the trailing 6-month period	3.96%	7.32%	-3.36%
Volatility (1Y) Calculated over the trailing 1-year period	7.50%	13.01%	-5.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.49%	16.28%	-8.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.49%	15.69%	-8.20%