VGLT vs. LTPZ
VGLT (Vanguard Long-Term Treasury ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both exchange-traded funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, VGLT returned -1.20%/yr vs 0.61%/yr for LTPZ. Their correlation of 0.82 suggests significant overlap in exposure. VGLT charges 0.03%/yr vs 0.20%/yr for LTPZ.
Performance
VGLT vs. LTPZ - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a 0.49% return, which is significantly higher than LTPZ's -0.06% return. Over the past 10 years, VGLT has underperformed LTPZ with an annualized return of -1.20%, while LTPZ has yielded a comparatively higher 0.61% annualized return.
VGLT
- 1D
- 0.15%
- 1M
- 2.04%
- YTD
- 0.49%
- 6M
- 0.38%
- 1Y
- 4.08%
- 3Y*
- -0.75%
- 5Y*
- -5.58%
- 10Y*
- -1.20%
LTPZ
- 1D
- -0.22%
- 1M
- 0.76%
- YTD
- -0.06%
- 6M
- -0.12%
- 1Y
- 2.88%
- 3Y*
- -1.61%
- 5Y*
- -5.64%
- 10Y*
- 0.61%
VGLT vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | 0.49% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | -0.06% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
Correlation
The correlation between VGLT and LTPZ is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.82 |
The correlation between VGLT and LTPZ shifts across timeframes, from 0.82 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VGLT vs. LTPZ — Risk / Return Rank
VGLT
LTPZ
VGLT vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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.
| VGLT | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.06 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 0.41 | +0.17 |
| Martin ratioReturn relative to average drawdown | 1.45 | 0.86 | +0.59 |
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Drawdowns
VGLT vs. LTPZ - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than LTPZ's maximum drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for VGLT and LTPZ.
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Drawdown Indicators
| VGLT | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -40.99% | -5.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -7.00% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -16.05% | -1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -40.99% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -40.99% | -5.19% |
Current DrawdownCurrent decline from peak | -36.26% | -33.06% | -3.20% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -12.47% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 3.34% | -0.52% |
Volatility
VGLT vs. LTPZ - Volatility Comparison
The current volatility for Vanguard Long-Term Treasury ETF (VGLT) is 2.08%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.52%. This indicates that VGLT experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.08% | 2.52% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 6.62% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.61% | 9.13% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 15.86% | -1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.80% | 15.07% | -1.27% |
VGLT vs. LTPZ - Expense Ratio Comparison
VGLT has a 0.03% expense ratio, which is lower than LTPZ's 0.20% 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
VGLT vs. LTPZ - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.57%, less than LTPZ's 5.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.25% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
VGLT Vanguard Long-Term Treasury ETF | 4.57% | 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
With a correlation of 0.92, VGLT and LTPZ 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.
LTPZ has higher volatility (2.52%) compared to VGLT (2.08%). In terms of maximum drawdown, VGLT dropped -46.18% vs LTPZ's -40.99%.
On 10-year performance, LTPZ leads with 0.61% vs -1.20% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, VGLT has been the lower-risk option at 2.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LTPZ has performed better with a 0.61% return vs -1.20%. 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 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.25%, compared with 4.57% for VGLT.
VGLT is categorized as Government Bonds, while LTPZ is Inflation-Protected Bonds. VGLT tracks Bloomberg U.S. Long Treasury Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: Vanguard and PIMCO. Their fees differ too: 0.03% for VGLT and 0.20% for LTPZ.
VGLT currently has the higher Sharpe Ratio (0.48 vs 0.32), 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.
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