VFEM.L vs. VUTY.L
VFEM.L (Vanguard FTSE Emerging Markets UCITS ETF Distributing) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both exchange-traded funds - VFEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while VUTY.L is a Government Bonds fund tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 10 years, VFEM.L returned 9.54%/yr vs 1.35%/yr for VUTY.L. At a 0.04 correlation, their price movements are largely independent. VFEM.L charges 0.22%/yr vs 0.05%/yr for VUTY.L.
Performance
VFEM.L vs. VUTY.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VFEM.L achieves a 10.41% return, which is significantly higher than VUTY.L's 0.19% return. Over the past 10 years, VFEM.L has outperformed VUTY.L with an annualized return of 9.54%, while VUTY.L has yielded a comparatively lower 1.35% annualized return.
VFEM.L
- 1D
- 1.96%
- 1M
- -0.58%
- YTD
- 10.41%
- 6M
- 11.41%
- 1Y
- 27.25%
- 3Y*
- 14.24%
- 5Y*
- 5.97%
- 10Y*
- 9.54%
VUTY.L
- 1D
- -0.31%
- 1M
- 0.71%
- YTD
- 0.19%
- 6M
- -0.05%
- 1Y
- 4.95%
- 3Y*
- 0.88%
- 5Y*
- 0.50%
- 10Y*
- 1.35%
VFEM.L vs. VUTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 10.41% | 16.90% | 14.50% | 1.36% | -7.39% | 0.09% | 11.19% | 15.14% | -7.60% | 19.93% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 0.19% | -1.14% | 2.53% | -1.95% | -1.84% | -1.13% | 4.01% | 3.66% | 6.64% | -6.80% |
Correlation
The correlation between VFEM.L and VUTY.L is -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.04 |
The correlation between VFEM.L and VUTY.L shifts across timeframes, from -0.07 (3 years) to 0.05 (10 years), 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.
Return for Risk
VFEM.L vs. VUTY.L — Risk / Return Rank
VFEM.L
VUTY.L
VFEM.L vs. VUTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L) and Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.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.
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.
| VFEM.L | VUTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.14 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 0.90 | +1.98 |
| Martin ratioReturn relative to average drawdown | 9.32 | 2.13 | +7.19 |
Loading charts...
Drawdowns
VFEM.L vs. VUTY.L - Drawdown Comparison
The maximum VFEM.L drawdown since its inception was -32.13%, which is greater than VUTY.L's maximum drawdown of -22.66%. Use the drawdown chart below to compare losses from any high point for VFEM.L and VUTY.L.
Loading charts...
Drawdown Indicators
| VFEM.L | VUTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.13% | -22.66% | -9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -5.24% | -3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -8.28% | -6.40% |
Max Drawdown (5Y)Largest decline over 5 years | -19.58% | -16.17% | -3.41% |
Max Drawdown (10Y)Largest decline over 10 years | -25.90% | -22.66% | -3.24% |
Current DrawdownCurrent decline from peak | -2.67% | -17.58% | +14.91% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -12.63% | +4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 2.23% | +0.53% |
Volatility
VFEM.L vs. VUTY.L - Volatility Comparison
Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L) has a higher volatility of 5.13% compared to Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) at 1.35%. This indicates that VFEM.L's price experiences larger fluctuations and is considered to be riskier than VUTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VFEM.L | VUTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 1.35% | +3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 11.41% | 4.24% | +7.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 5.92% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 8.69% | +6.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 9.98% | +7.51% |
VFEM.L vs. VUTY.L - Expense Ratio Comparison
VFEM.L has a 0.22% expense ratio, which is higher than VUTY.L's 0.05% 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
VFEM.L vs. VUTY.L - Dividend Comparison
VFEM.L's dividend yield for the trailing twelve months is around 2.06%, less than VUTY.L's 4.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 2.06% | 2.36% | 2.31% | 2.63% | 3.28% | 2.26% | 1.94% | 2.43% | 2.73% | 2.22% | 2.22% | 2.82% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.26% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% | 0.00% |
Frequently Asked Questions
VFEM.L and VUTY.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L is cheaper with a 0.05% expense ratio, compared with 0.22% for VFEM.L.
VFEM.L is categorized as Emerging Markets Equities, while VUTY.L is Government Bonds. VFEM.L tracks MSCI EM NR USD, while VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. Their fees differ too: 0.22% for VFEM.L and 0.05% for VUTY.L.
Find the right allocation for VFEM.L and VUTY.L
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