VDTY.L vs. MUNI.L
Compare and contrast key facts about Vanguard USD Treasury Bond UCITS ETF (VDTY.L) and Invesco US Municipal Bond UCITS ETF Dist (MUNI.L).
VDTY.L and MUNI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VDTY.L is a passively managed fund by Vanguard that tracks the performance of the Bloomberg US Treasury Float Adjusted Index. It was launched on Mar 4, 2025. MUNI.L is a passively managed fund by Invesco that tracks the performance of the ICE BofA US Taxable Municipal Securities Plus Index. It was launched on Feb 10, 2021. Both VDTY.L and MUNI.L 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
VDTY.L vs. MUNI.L - Performance Comparison
Loading graphics...
VDTY.L vs. MUNI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VDTY.L Vanguard USD Treasury Bond UCITS ETF | -0.30% | 6.26% | 1.10% | 3.77% | -12.32% | 0.04% |
MUNI.L Invesco US Municipal Bond UCITS ETF Dist | 0.03% | 7.41% | 1.23% | 8.01% | -19.08% | 2.68% |
Returns By Period
In the year-to-date period, VDTY.L achieves a -0.30% return, which is significantly lower than MUNI.L's 0.03% return.
VDTY.L
- 1D
- 0.05%
- 1M
- -1.73%
- YTD
- -0.30%
- 6M
- 0.75%
- 1Y
- 3.20%
- 3Y*
- 2.69%
- 5Y*
- -0.21%
- 10Y*
- 0.98%
MUNI.L
- 1D
- 0.13%
- 1M
- -2.42%
- YTD
- 0.03%
- 6M
- 1.37%
- 1Y
- 5.25%
- 3Y*
- 4.20%
- 5Y*
- -0.11%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VDTY.L vs. MUNI.L - Expense Ratio Comparison
VDTY.L has a 0.05% expense ratio, which is lower than MUNI.L's 0.28% expense ratio.
Return for Risk
VDTY.L vs. MUNI.L — Risk / Return Rank
VDTY.L
MUNI.L
VDTY.L vs. MUNI.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 Invesco US Municipal Bond UCITS ETF Dist (MUNI.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.
| VDTY.L | MUNI.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 1.53 | -0.77 |
Sortino ratioReturn per unit of downside risk | 1.10 | 2.35 | -1.25 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.76 | -0.87 |
Martin ratioReturn relative to average drawdown | 2.32 | 5.00 | -2.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VDTY.L | MUNI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 1.53 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | -0.03 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | -0.11 | +0.30 |
Correlation
The correlation between VDTY.L and MUNI.L is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VDTY.L vs. MUNI.L - Dividend Comparison
VDTY.L's dividend yield for the trailing twelve months is around 4.24%, less than MUNI.L's 4.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 4.24% | 4.29% | 4.31% | 3.40% | 2.09% | 1.21% | 1.54% | 2.34% | 2.33% | 1.57% | 0.99% |
MUNI.L Invesco US Municipal Bond UCITS ETF Dist | 4.57% | 4.52% | 4.60% | 4.09% | 3.19% | 2.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VDTY.L vs. MUNI.L - Drawdown Comparison
The maximum VDTY.L drawdown since its inception was -18.99%, smaller than the maximum MUNI.L drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for VDTY.L and MUNI.L.
Loading graphics...
Drawdown Indicators
| VDTY.L | MUNI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.99% | -23.73% | +4.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -3.97% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -23.73% | +7.13% |
Max Drawdown (10Y)Largest decline over 10 years | -18.99% | — | — |
Current DrawdownCurrent decline from peak | -6.83% | -6.27% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -11.79% | +5.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 2.80% | -1.56% |
Volatility
VDTY.L vs. MUNI.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF (VDTY.L) is 1.25%, while Invesco US Municipal Bond UCITS ETF Dist (MUNI.L) has a volatility of 1.77%. This indicates that VDTY.L experiences smaller price fluctuations and is considered to be less risky than MUNI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| VDTY.L | MUNI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.77% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.27% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 9.03% | -4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.52% | 14.95% | -9.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.85% | 14.93% | -10.08% |