PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VEU vs. VGLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEU vs. VGLT

Last updated Jun 9, 2026

VEU (Vanguard FTSE All-World ex-US ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - VEU is a Foreign Large Cap Equities fund tracking the FTSE All-World ex US Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, VEU returned 9.86%/yr vs -1.28%/yr for VGLT. At a correlation of -0.21, they often move in opposite directions. VEU charges 0.04%/yr vs 0.03%/yr for VGLT.

Performance

VEU vs. VGLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US ETF (VEU) and Vanguard Long-Term Treasury ETF (VGLT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VEU achieves a 11.45% return, which is significantly higher than VGLT's -1.16% return. Over the past 10 years, VEU has outperformed VGLT with an annualized return of 9.86%, while VGLT has yielded a comparatively lower -1.28% annualized return.

VEU

1D
0.90%
1M
-1.72%
YTD
11.45%
6M
13.84%
1Y
27.37%
3Y*
18.27%
5Y*
8.16%
10Y*
9.86%

VGLT

1D
-0.40%
1M
-1.25%
YTD
-1.16%
6M
-1.18%
1Y
4.15%
3Y*
-0.94%
5Y*
-5.66%
10Y*
-1.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEU vs. VGLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VEU
Vanguard FTSE All-World ex-US ETF		11.45%32.35%5.56%15.84%-15.58%8.27%11.10%21.83%-14.18%27.40%
VGLT
Vanguard Long-Term Treasury ETF		-1.16%5.35%-6.28%3.27%-29.34%-4.98%17.57%14.30%-1.54%8.64%

Correlation

The correlation between VEU and VGLT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

-0.05

Correlation (All Time)
Calculated using the full available price history since Nov 24, 2009

-0.21

The correlation between VEU and VGLT shifts across timeframes, from -0.21 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE All-World ex-US ETF

Vanguard Long-Term Treasury ETF

Often compared with VEU:
VEU vs. VXUSVEU vs. VEAVEU vs. VOOVEU vs. VGKVEU vs. SPYVEU vs. ACWXVEU vs. VTI
Often compared with VGLT:
VGLT vs. TLTVGLT vs. VGITVGLT vs. EDVVGLT vs. BNDVGLT vs. VCLTVGLT vs. BLVVGLT vs. SPTL

Return for Risk

VEU vs. VGLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEU
VEU Risk / Return Rank: 5656
Overall Rank
VEU Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
VEU Sortino Ratio Rank: 5555
Sortino Ratio Rank
VEU Omega Ratio Rank: 5858
Omega Ratio Rank
VEU Calmar Ratio Rank: 5454
Calmar Ratio Rank
VEU Martin Ratio Rank: 5858
Martin Ratio Rank
VGLT
VGLT Risk / Return Rank: 1717
Overall Rank
VGLT Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
VGLT Sortino Ratio Rank: 1717
Sortino Ratio Rank
VGLT Omega Ratio Rank: 1616
Omega Ratio Rank
VGLT Calmar Ratio Rank: 1717
Calmar Ratio Rank
VGLT Martin Ratio Rank: 1717
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VEU vs. VGLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US ETF (VEU) and Vanguard Long-Term Treasury ETF (VGLT). 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.

VEUVGLTDifference
Sharpe ratioReturn per unit of total volatility
1.74
0.48

+1.26

Sortino ratioReturn per unit of downside risk
2.39
0.75

+1.64

Omega ratioGain probability vs. loss probability

1.32

1.08

+0.24

Calmar ratioReturn relative to maximum drawdown

2.41

0.60

+1.81

Martin ratioReturn relative to average drawdown

9.28

1.53

+7.75

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEU vs. VGLT - Sharpe Ratio Comparison

The current VEU Sharpe Ratio is 1.74, which is higher than the VGLT Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of VEU and VGLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VEUVGLTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

0.48

+1.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

-0.39

+0.90

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

-0.09

+0.67

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.18

+0.06

Drawdowns

VEU vs. VGLT - Drawdown Comparison

The maximum VEU drawdown since its inception was -61.52%, which is greater than VGLT's maximum drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for VEU and VGLT.

Loading charts...

Drawdown Indicators

VEUVGLTDifference

Max Drawdown

Largest peak-to-trough decline

-61.52%

-46.18%

-15.34%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-7.01%

-4.42%

Max Drawdown (3Y)

Largest decline over 3 years

-13.69%

-17.68%

+3.99%

Max Drawdown (5Y)

Largest decline over 5 years

-29.31%

-40.98%

+11.67%

Max Drawdown (10Y)

Largest decline over 10 years

-34.98%

-46.18%

+11.20%

Current Drawdown

Current decline from peak

-3.69%

-37.30%

+33.61%

Average Drawdown

Average peak-to-trough decline

-13.13%

-15.08%

+1.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

2.72%

+0.24%

Volatility

VEU vs. VGLT - Volatility Comparison

Vanguard FTSE All-World ex-US ETF (VEU) has a higher volatility of 6.07% compared to Vanguard Long-Term Treasury ETF (VGLT) at 2.50%. This indicates that VEU's price experiences larger fluctuations and is considered to be riskier than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VEUVGLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

2.50%

+3.57%

Volatility (6M)

Calculated over the trailing 6-month period

13.65%

5.96%

+7.69%

Volatility (1Y)

Calculated over the trailing 1-year period

15.80%

8.71%

+7.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.16%

14.57%

+1.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.25%

13.82%

+3.43%

VEU vs. VGLT - Expense Ratio Comparison

VEU has a 0.04% expense ratio, which is higher than VGLT's 0.03% 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

VEU vs. VGLT - Dividend Comparison

VEU's dividend yield for the trailing twelve months is around 2.68%, less than VGLT's 4.64% yield.

PositionTTM20252024202320222021202020192018201720162015
VEU
Vanguard FTSE All-World ex-US ETF		2.68%3.09%3.24%3.32%3.12%3.08%2.00%3.10%3.27%2.66%2.96%2.95%
VGLT
Vanguard Long-Term Treasury ETF		4.64%4.44%4.33%3.33%2.84%1.82%2.15%2.46%2.71%2.55%2.69%3.21%

Frequently Asked Questions

VEU and VGLT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEU has higher volatility (6.07%) compared to VGLT (2.50%). In terms of maximum drawdown, VEU dropped -61.52% vs VGLT's -46.18%.

On 10-year performance, VEU leads with 9.86% vs -1.28% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VEU has performed better with a 9.86% return vs -1.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VGLT is cheaper with a 0.03% expense ratio, compared with 0.04% for VEU.

VGLT has the higher dividend yield at 4.64%, compared with 2.68% for VEU.

VEU is categorized as Foreign Large Cap Equities, while VGLT is Government Bonds. VEU tracks FTSE All-World ex US Index, while VGLT tracks Bloomberg U.S. Long Treasury Index. Their fees differ too: 0.04% for VEU and 0.03% for VGLT.

VEU currently has the higher Sharpe Ratio (1.74 vs 0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for VEU and VGLT

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer