VETA.L vs. GLT5.L
VETA.L (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and GLT5.L (Invesco UK Gilt 1-5 Year UCITS ETF Dist) are both European Government Bonds funds - VETA.L tracks the Bloomberg Euro Agg Govt TR EUR while GLT5.L tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, VETA.L returned -2.10%/yr vs 0.90%/yr for GLT5.L. At a 0.49 correlation, their price movements are largely independent. VETA.L charges 0.07%/yr vs 0.06%/yr for GLT5.L.
Performance
VETA.L vs. GLT5.L - Performance Comparison
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Different Trading Currencies
VETA.L is traded in GBP, while GLT5.L is traded in GBp. To make them comparable, the GLT5.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VETA.L achieves a -0.82% return, which is significantly lower than GLT5.L's 0.19% return.
VETA.L
- 1D
- 0.23%
- 1M
- 0.78%
- YTD
- -0.82%
- 6M
- -0.92%
- 1Y
- 2.67%
- 3Y*
- 2.47%
- 5Y*
- -2.10%
- 10Y*
- —
GLT5.L
- 1D
- 0.06%
- 1M
- 0.73%
- YTD
- 0.19%
- 6M
- 0.42%
- 1Y
- 3.04%
- 3Y*
- 4.09%
- 5Y*
- 0.90%
- 10Y*
- —
VETA.L vs. GLT5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VETA.L Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | -0.82% | 5.79% | -2.93% | 4.76% | -13.59% | -9.77% | 10.65% | 3.58% |
GLT5.L Invesco UK Gilt 1-5 Year UCITS ETF Dist | 0.19% | 5.31% | 2.14% | 3.86% | -5.44% | -1.89% | 1.83% | 0.69% |
Correlation
The correlation between VETA.L and GLT5.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2019 | 0.49 |
The correlation between VETA.L and GLT5.L shifts across timeframes, from 0.32 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VETA.L vs. GLT5.L — Risk / Return Rank
VETA.L
GLT5.L
VETA.L vs. GLT5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VETA.L) and Invesco UK Gilt 1-5 Year UCITS ETF Dist (GLT5.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.
| VETA.L | GLT5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.21 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.38 | -0.81 |
| Martin ratioReturn relative to average drawdown | 1.29 | 4.42 | -3.13 |
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
| VETA.L | GLT5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 1.01 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | 0.28 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.32 | -0.40 |
Drawdowns
VETA.L vs. GLT5.L - Drawdown Comparison
The maximum VETA.L drawdown since its inception was -26.60%, which is greater than GLT5.L's maximum drawdown of -10.98%. Use the drawdown chart below to compare losses from any high point for VETA.L and GLT5.L.
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Drawdown Indicators
| VETA.L | GLT5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.60% | -10.98% | -15.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.66% | -2.20% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -6.23% | -2.20% | -4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | -10.32% | -10.39% |
Current DrawdownCurrent decline from peak | -18.72% | -0.92% | -17.80% |
Average DrawdownAverage peak-to-trough decline | -15.05% | -2.63% | -12.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.69% | +1.38% |
Volatility
VETA.L vs. GLT5.L - Volatility Comparison
Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VETA.L) and Invesco UK Gilt 1-5 Year UCITS ETF Dist (GLT5.L) have volatilities of 1.85% and 1.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VETA.L | GLT5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.88% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 2.63% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 3.00% | +2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 3.25% | +4.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.96% | 2.92% | +5.04% |
VETA.L vs. GLT5.L - Expense Ratio Comparison
VETA.L has a 0.07% expense ratio, which is higher than GLT5.L's 0.06% 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
VETA.L vs. GLT5.L - Dividend Comparison
VETA.L has not paid dividends to shareholders, while GLT5.L's dividend yield for the trailing twelve months is around 4.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GLT5.L Invesco UK Gilt 1-5 Year UCITS ETF Dist | 4.13% | 4.12% | 4.43% | 3.76% | 1.01% | 0.19% | 0.33% | 0.44% |
VETA.L Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VETA.L and GLT5.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLT5.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLT5.L is cheaper with a 0.06% expense ratio, compared with 0.07% for VETA.L.
VETA.L tracks Bloomberg Euro Agg Govt TR EUR, while GLT5.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VETA.L and 0.06% for GLT5.L.
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