VDTY.L vs. TRS5.L
VDTY.L (Vanguard USD Treasury Bond UCITS ETF) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - VDTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, VDTY.L returned 0.95%/yr vs 0.83%/yr for TRS5.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
VDTY.L vs. TRS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, VDTY.L achieves a -0.23% return, which is significantly higher than TRS5.L's -0.40% return. Over the past 10 years, VDTY.L has outperformed TRS5.L with an annualized return of 0.95%, while TRS5.L has yielded a comparatively lower 0.83% annualized return.
VDTY.L
- 1D
- 0.24%
- 1M
- 0.17%
- YTD
- -0.23%
- 6M
- 0.04%
- 1Y
- 3.47%
- 3Y*
- 2.95%
- 5Y*
- -0.36%
- 10Y*
- 0.95%
TRS5.L
- 1D
- 0.18%
- 1M
- -0.11%
- YTD
- -0.40%
- 6M
- -0.08%
- 1Y
- 3.24%
- 3Y*
- 3.66%
- 5Y*
- 0.31%
- 10Y*
- 0.83%
VDTY.L vs. TRS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VDTY.L Vanguard USD Treasury Bond UCITS ETF | -0.23% | 6.26% | 1.10% | 3.77% | -12.32% | -2.40% | 7.68% | 7.08% | 0.80% | 2.32% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.40% | 7.27% | 2.02% | 4.16% | -9.49% | -2.44% | 6.80% | 4.29% | -0.46% | -0.42% |
Correlation
The correlation between VDTY.L and TRS5.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.91 |
The correlation between VDTY.L and TRS5.L has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
VDTY.L vs. TRS5.L — Risk / Return Rank
VDTY.L
TRS5.L
VDTY.L vs. TRS5.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 SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.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 | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.20 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.30 | -0.14 |
| Martin ratioReturn relative to average drawdown | 3.67 | 4.14 | -0.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VDTY.L | TRS5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.11 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 0.07 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | 0.22 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.22 | -0.03 |
Drawdowns
VDTY.L vs. TRS5.L - Drawdown Comparison
The maximum VDTY.L drawdown since its inception was -18.99%, which is greater than TRS5.L's maximum drawdown of -14.35%. Use the drawdown chart below to compare losses from any high point for VDTY.L and TRS5.L.
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Drawdown Indicators
| VDTY.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.99% | -14.35% | -4.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | -2.48% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.35% | -3.70% | -1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -13.64% | -2.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.99% | -14.35% | -4.64% |
Current DrawdownCurrent decline from peak | -6.76% | -1.60% | -5.16% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -4.40% | -2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.78% | +0.16% |
Volatility
VDTY.L vs. TRS5.L - Volatility Comparison
Vanguard USD Treasury Bond UCITS ETF (VDTY.L) has a higher volatility of 1.42% compared to SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) at 1.15%. This indicates that VDTY.L's price experiences larger fluctuations and is considered to be riskier than TRS5.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 | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 1.15% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 2.14% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 2.91% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.54% | 4.71% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 3.81% | +1.05% |
VDTY.L vs. TRS5.L - Expense Ratio Comparison
Both VDTY.L and TRS5.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VDTY.L vs. TRS5.L - Dividend Comparison
VDTY.L's dividend yield for the trailing twelve months is around 4.25%, more than TRS5.L's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.93% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 1.09% | 0.00% | 0.00% | 0.00% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 4.25% | 4.29% | 4.31% | 3.40% | 2.09% | 1.21% | 1.54% | 2.34% | 2.33% | 1.57% | 0.99% |
Frequently Asked Questions
With a correlation of 0.91, VDTY.L and TRS5.L 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.
Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VDTY.L and TRS5.L have the same expense ratio: 0.05% per year.
VDTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: Vanguard and State Street.
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