VBR vs. VGLT
VBR (Vanguard Small-Cap Value ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, VBR returned 10.99%/yr vs -1.21%/yr for VGLT. At a correlation of -0.25, they often move in opposite directions. VBR charges 0.05%/yr vs 0.03%/yr for VGLT.
Performance
VBR vs. VGLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VBR achieves a 14.60% return, which is significantly higher than VGLT's 0.03% return. Over the past 10 years, VBR has outperformed VGLT with an annualized return of 10.99%, while VGLT has yielded a comparatively lower -1.21% annualized return.
VBR
- 1D
- 0.87%
- 1M
- 4.49%
- YTD
- 14.60%
- 6M
- 12.92%
- 1Y
- 29.93%
- 3Y*
- 16.09%
- 5Y*
- 8.36%
- 10Y*
- 10.99%
VGLT
- 1D
- -0.27%
- 1M
- 1.19%
- YTD
- 0.03%
- 6M
- 0.49%
- 1Y
- 4.27%
- 3Y*
- -0.30%
- 5Y*
- -5.52%
- 10Y*
- -1.21%
VBR vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBR Vanguard Small-Cap Value ETF | 14.60% | 9.09% | 12.40% | 16.00% | -9.38% | 28.08% | 5.90% | 22.78% | -12.28% | 11.81% |
VGLT Vanguard Long-Term Treasury ETF | 0.03% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between VBR and VGLT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | -0.25 |
The correlation between VBR and VGLT shifts across timeframes, from -0.25 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VBR vs. VGLT — Risk / Return Rank
VBR
VGLT
VBR vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) 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.
| VBR | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.07 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 0.47 | +2.70 |
| Martin ratioReturn relative to average drawdown | 11.22 | 1.19 | +10.03 |
Loading charts...
Drawdowns
VBR vs. VGLT - Drawdown Comparison
The maximum VBR drawdown since its inception was -61.98%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for VBR and VGLT.
Loading charts...
Drawdown Indicators
| VBR | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.98% | -46.18% | -15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -8.85% | -7.01% | -1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -24.19% | -17.68% | -6.51% |
Max Drawdown (5Y)Largest decline over 5 years | -24.19% | -40.98% | +16.79% |
Max Drawdown (10Y)Largest decline over 10 years | -45.28% | -46.18% | +0.90% |
Current DrawdownCurrent decline from peak | 0.00% | -36.55% | +36.55% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -15.09% | +6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.78% | -0.28% |
Volatility
VBR vs. VGLT - Volatility Comparison
Vanguard Small-Cap Value ETF (VBR) has a higher volatility of 4.43% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.69%. This indicates that VBR's price experiences larger fluctuations and is considered to be riskier than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VBR | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 2.69% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 6.09% | +4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.36% | 8.78% | +6.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.79% | 14.57% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.74% | 13.82% | +7.92% |
VBR vs. VGLT - Expense Ratio Comparison
VBR has a 0.05% 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
VBR vs. VGLT - Dividend Comparison
VBR's dividend yield for the trailing twelve months is around 1.71%, less than VGLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBR Vanguard Small-Cap Value ETF | 1.71% | 1.95% | 1.98% | 2.12% | 2.03% | 1.75% | 1.68% | 2.06% | 2.35% | 1.79% | 1.77% | 1.99% |
VGLT Vanguard Long-Term Treasury ETF | 4.59% | 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
VBR and VGLT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBR has higher volatility (4.43%) compared to VGLT (2.69%). In terms of maximum drawdown, VBR dropped -61.98% vs VGLT's -46.18%.
On 10-year performance, VBR leads with 10.99% vs -1.21% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VBR has performed better with a 10.99% return vs -1.21%. 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 0.05% for VBR.
VGLT has the higher dividend yield at 4.59%, compared with 1.71% for VBR.
VBR is categorized as Small Cap Value Equities, while VGLT is Government Bonds. VBR tracks CRSP US Small Cap Value Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. Their fees differ too: 0.05% for VBR and 0.03% for VGLT.
VBR currently has the higher Sharpe Ratio (1.83 vs 0.38), 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.
Find the right allocation for VBR and VGLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer