VETY.L vs. IBGM.L
VETY.L (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) and IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds tracking the Bloomberg Euro Agg Govt TR EUR, from Vanguard and iShares respectively. Both are passively managed. Over the past 10 years, VETY.L returned 0.12%/yr vs 31.18%/yr for IBGM.L. With a 0.98 correlation, they move nearly in lockstep. VETY.L charges 0.07%/yr vs 0.15%/yr for IBGM.L.
Performance
VETY.L vs. IBGM.L - Performance Comparison
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Returns By Period
In the year-to-date period, VETY.L achieves a -2.03% return, which is significantly higher than IBGM.L's -2.35% return. Over the past 10 years, VETY.L has underperformed IBGM.L with an annualized return of 0.12%, while IBGM.L has yielded a comparatively higher 31.18% annualized return.
VETY.L
- 1D
- 0.19%
- 1M
- -0.19%
- YTD
- -2.03%
- 6M
- -2.18%
- 1Y
- 0.09%
- 3Y*
- 0.38%
- 5Y*
- -3.27%
- 10Y*
- 0.12%
IBGM.L
- 1D
- 0.20%
- 1M
- -1.36%
- YTD
- -2.35%
- 6M
- -2.29%
- 1Y
- 0.51%
- 3Y*
- 1.73%
- 5Y*
- 39.50%
- 10Y*
- 31.18%
VETY.L vs. IBGM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | -2.03% | 2.82% | -5.14% | 5.08% | -13.54% | -9.76% | 10.66% | 1.61% | 1.86% | 3.57% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
Correlation
The correlation between VETY.L and IBGM.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016 | 0.98 |
The correlation between VETY.L and IBGM.L has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
VETY.L vs. IBGM.L — Risk / Return Rank
VETY.L
IBGM.L
VETY.L vs. IBGM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.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.
| VETY.L | IBGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.00 | -0.05 |
| Martin ratioReturn relative to average drawdown | -0.10 | 0.01 | -0.11 |
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
| VETY.L | IBGM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 0.00 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.20 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.22 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.21 | -0.17 |
Drawdowns
VETY.L vs. IBGM.L - Drawdown Comparison
The maximum VETY.L drawdown since its inception was -26.39%, roughly equal to the maximum IBGM.L drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for VETY.L and IBGM.L.
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Drawdown Indicators
| VETY.L | IBGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.39% | -26.66% | +0.27% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -6.20% | +1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.67% | -6.85% | -0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -20.49% | -21.27% | +0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -26.39% | -26.66% | +0.27% |
Current DrawdownCurrent decline from peak | -23.46% | -5.51% | -17.95% |
Average DrawdownAverage peak-to-trough decline | -12.50% | -4.98% | -7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.84% | -0.40% |
Volatility
VETY.L vs. IBGM.L - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) is 1.84%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a volatility of 2.59%. This indicates that VETY.L experiences smaller price fluctuations and is considered to be less risky than IBGM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VETY.L | IBGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 2.59% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.28% | 4.94% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 6.31% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 193.47% | -185.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.54% | 138.63% | -130.09% |
VETY.L vs. IBGM.L - Expense Ratio Comparison
VETY.L has a 0.07% expense ratio, which is lower than IBGM.L'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
VETY.L vs. IBGM.L - Dividend Comparison
Neither VETY.L nor IBGM.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.00% | 0.00% | 0.28% | 2.11% | 0.54% | 0.09% | 0.17% | 0.60% | 0.63% | 0.54% | 0.37% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, VETY.L and IBGM.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.
On fees, VETY.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETY.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IBGM.L.
Both ETFs track Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VETY.L and 0.15% for IBGM.L.
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