VDTY.L vs. DRGG.L
VDTY.L (Vanguard USD Treasury Bond UCITS ETF) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both Government Bonds funds - VDTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while DRGG.L tracks the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, VDTY.L returned -0.72%/yr vs 2.31%/yr for DRGG.L. At a 0.09 correlation, their price movements are largely independent. VDTY.L charges 0.05%/yr vs 0.30%/yr for DRGG.L.
Performance
VDTY.L vs. DRGG.L - Performance Comparison
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Different Trading Currencies
VDTY.L is traded in USD, while DRGG.L is traded in GBp. To make them comparable, the DRGG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VDTY.L achieves a -0.40% return, which is significantly lower than DRGG.L's 3.82% return.
VDTY.L
- 1D
- 0.09%
- 1M
- -0.24%
- 6M
- -0.40%
- YTD
- -0.40%
- 1Y
- 3.41%
- 3Y*
- 2.87%
- 5Y*
- -0.72%
- 10Y*
- 0.78%
DRGG.L
- 1D
- 0.49%
- 1M
- 0.12%
- 6M
- 3.69%
- YTD
- 3.82%
- 1Y
- 7.31%
- 3Y*
- 4.79%
- 5Y*
- 2.31%
- 10Y*
- —
VDTY.L vs. DRGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VDTY.L Vanguard USD Treasury Bond UCITS ETF | -0.40% | 6.28% | 0.84% | 3.77% | -12.31% | -2.40% | 0.23% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.82% | 5.68% | 3.04% | 0.01% | -5.38% | 7.53% | -24.68% |
Correlation
The correlation between VDTY.L and DRGG.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.09 |
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Return for Risk
VDTY.L vs. DRGG.L — Risk / Return Rank
VDTY.L
DRGG.L
VDTY.L vs. DRGG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF (VDTY.L) and L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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.
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.
| VDTY.L | DRGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.28 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 4.42 | -3.28 |
| Martin ratioReturn relative to average drawdown | 3.11 | 16.28 | -13.17 |
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Drawdowns
VDTY.L vs. DRGG.L - Drawdown Comparison
The maximum VDTY.L drawdown since its inception was -18.98%, smaller than the maximum DRGG.L drawdown of -27.95%. Use the drawdown chart below to compare losses from any high point for VDTY.L and DRGG.L.
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Drawdown Indicators
| VDTY.L | DRGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.98% | -27.95% | +8.97% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -1.65% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.21% | -3.61% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.59% | -12.16% | -4.43% |
Max Drawdown (10Y)Largest decline over 10 years | -18.98% | — | — |
Current DrawdownCurrent decline from peak | -7.13% | -13.35% | +6.22% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -21.39% | +14.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.45% | +0.64% |
Volatility
VDTY.L vs. DRGG.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF (VDTY.L) is 0.93%, while L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) has a volatility of 1.31%. This indicates that VDTY.L experiences smaller price fluctuations and is considered to be less risky than DRGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VDTY.L | DRGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 1.31% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 4.46% | -1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 5.08% | -1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.55% | 6.53% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 12.45% | -7.59% |
VDTY.L vs. DRGG.L - Expense Ratio Comparison
VDTY.L has a 0.05% expense ratio, which is lower than DRGG.L's 0.30% expense ratio.
Dividends
VDTY.L vs. DRGG.L - Dividend Comparison
VDTY.L's dividend yield for the trailing twelve months is around 4.27%, more than DRGG.L's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.87% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 4.27% | 4.29% | 4.07% | 3.40% | 2.09% | 1.21% | 1.54% | 2.34% | 2.33% | 1.57% | 0.99% |
Frequently Asked Questions
VDTY.L and DRGG.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDTY.L is cheaper with a 0.05% expense ratio, compared with 0.30% for DRGG.L.
VDTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. They also come from different issuers: Vanguard and L&G. Their fees differ too: 0.05% for VDTY.L and 0.30% for DRGG.L.
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