VERX.AS vs. TLT
VERX.AS (Vanguard FTSE Developed Europe ex-UK UCITS ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - VERX.AS is a Europe Equities fund tracking the MSCI Europe Ex UK NR EUR, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, VERX.AS returned 11.00%/yr vs -2.15%/yr for TLT. At a correlation of -0.08, they often move in opposite directions. VERX.AS charges 0.10%/yr vs 0.15%/yr for TLT.
Performance
VERX.AS vs. TLT - Performance Comparison
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Different Trading Currencies
VERX.AS 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, VERX.AS achieves a 10.77% return, which is significantly higher than TLT's 5.53% return. Over the past 10 years, VERX.AS has outperformed TLT with an annualized return of 11.00%, while TLT has yielded a comparatively lower -2.15% annualized return.
VERX.AS
- 1D
- 0.77%
- 1M
- 2.72%
- YTD
- 10.77%
- 6M
- 11.48%
- 1Y
- 22.50%
- 3Y*
- 15.33%
- 5Y*
- 9.59%
- 10Y*
- 11.00%
TLT
- 1D
- -0.10%
- 1M
- 5.45%
- YTD
- 5.53%
- 6M
- 4.77%
- 1Y
- 7.04%
- 3Y*
- -2.84%
- 5Y*
- -5.23%
- 10Y*
- -2.15%
VERX.AS vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VERX.AS Vanguard FTSE Developed Europe ex-UK UCITS ETF | 10.77% | 20.66% | 7.06% | 18.51% | -12.99% | 24.90% | 2.64% | 26.45% | -10.03% | 12.01% |
TLT iShares 20+ Year Treasury Bond ETF | 5.53% | -8.12% | -1.98% | -0.31% | -26.97% | 2.54% | 8.41% | 16.70% | 3.01% | -4.24% |
Correlation
The correlation between VERX.AS and TLT is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014 | -0.08 |
The correlation between VERX.AS and TLT shifts across timeframes, from -0.09 (10 years) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VERX.AS vs. TLT — Risk / Return Rank
VERX.AS
TLT
VERX.AS vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe ex-UK UCITS ETF (VERX.AS) 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.
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.
| VERX.AS | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.13 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 0.95 | +1.22 |
| Martin ratioReturn relative to average drawdown | 8.18 | 2.00 | +6.18 |
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Drawdowns
VERX.AS vs. TLT - Drawdown Comparison
The maximum VERX.AS drawdown since its inception was -34.57%, smaller than the maximum TLT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for VERX.AS and TLT.
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Drawdown Indicators
| VERX.AS | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.57% | -46.77% | +12.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | -7.42% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -16.21% | -17.13% | +0.92% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -39.79% | +16.89% |
Max Drawdown (10Y)Largest decline over 10 years | -34.57% | -46.77% | +12.20% |
Current DrawdownCurrent decline from peak | -0.16% | -41.48% | +41.32% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -18.59% | +12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 3.52% | -0.79% |
Volatility
VERX.AS vs. TLT - Volatility Comparison
Vanguard FTSE Developed Europe ex-UK UCITS ETF (VERX.AS) has a higher volatility of 3.19% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.45%. This indicates that VERX.AS's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VERX.AS | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 2.45% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.54% | 7.27% | +4.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 9.69% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 16.16% | -1.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.42% | 15.53% | -0.11% |
VERX.AS vs. TLT - Expense Ratio Comparison
VERX.AS has a 0.10% 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%.
Dividends
VERX.AS vs. TLT - Dividend Comparison
VERX.AS's dividend yield for the trailing twelve months is around 2.48%, less than TLT's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.48% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VERX.AS Vanguard FTSE Developed Europe ex-UK UCITS ETF | 2.48% | 2.67% | 2.91% | 2.75% | 3.05% | 2.29% | 1.96% | 2.83% | 3.20% | 2.71% | 2.81% | 2.61% |
Frequently Asked Questions
VERX.AS and TLT have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VERX.AS is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VERX.AS is cheaper with a 0.10% expense ratio, compared with 0.15% for TLT.
VERX.AS is categorized as Europe Equities, while TLT is Government Bonds. VERX.AS tracks MSCI Europe Ex UK NR EUR, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VERX.AS and 0.15% for TLT.
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