VGLT vs. SPTB
VGLT (Vanguard Long-Term Treasury ETF) and SPTB (State Street SPDR Portfolio Treasury ETF) are both Government Bonds funds - VGLT tracks the Bloomberg U.S. Long Treasury Index while SPTB tracks the Bloomberg U.S. Treasury Index. Both are passively managed. Over the past year, VGLT returned 5.25% vs 3.87% for SPTB. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
VGLT vs. SPTB - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a -0.41% return, which is significantly lower than SPTB's -0.07% return.
VGLT
- 1D
- -0.40%
- 1M
- 0.71%
- YTD
- -0.41%
- 6M
- -1.68%
- 1Y
- 5.25%
- 3Y*
- -0.72%
- 5Y*
- -5.30%
- 10Y*
- -1.10%
SPTB
- 1D
- -0.22%
- 1M
- 0.08%
- YTD
- -0.07%
- 6M
- -0.37%
- 1Y
- 3.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VGLT vs. SPTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | -0.41% | 5.35% | -1.02% |
SPTB State Street SPDR Portfolio Treasury ETF | -0.07% | 6.14% | 2.17% |
Correlation
The correlation between VGLT and SPTB 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 (All Time) Calculated using the full available price history since May 22, 2024 | 0.95 |
The correlation between VGLT and SPTB has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
VGLT vs. SPTB — Risk / Return Rank
VGLT
SPTB
VGLT vs. SPTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and State Street SPDR Portfolio Treasury ETF (SPTB). 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.
| VGLT | SPTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.19 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.34 | -0.59 |
| Martin ratioReturn relative to average drawdown | 1.96 | 3.98 | -2.02 |
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
| VGLT | SPTB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 1.07 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.92 | -0.73 |
Drawdowns
VGLT vs. SPTB - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than SPTB's maximum drawdown of -4.96%. Use the drawdown chart below to compare losses from any high point for VGLT and SPTB.
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Drawdown Indicators
| VGLT | SPTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -4.96% | -41.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -2.90% | -4.11% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | — | — |
Current DrawdownCurrent decline from peak | -36.83% | -1.94% | -34.89% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -1.32% | -13.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.98% | +1.70% |
Volatility
VGLT vs. SPTB - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.59% compared to State Street SPDR Portfolio Treasury ETF (SPTB) at 1.11%. This indicates that VGLT's price experiences larger fluctuations and is considered to be riskier than SPTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | SPTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 1.11% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 5.94% | 2.47% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.88% | 3.64% | +5.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.58% | 4.42% | +10.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.81% | 4.42% | +9.39% |
VGLT vs. SPTB - Expense Ratio Comparison
Both VGLT and SPTB have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VGLT vs. SPTB - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.61%, more than SPTB's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTB State Street SPDR Portfolio Treasury ETF | 4.20% | 4.23% | 2.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.61% | 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 0.94, VGLT and SPTB 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.
VGLT has higher volatility (2.59%) compared to SPTB (1.11%). In terms of maximum drawdown, VGLT dropped -46.18% vs SPTB's -4.96%.
On 1-year performance, VGLT leads with 5.25% vs 3.87% for SPTB. Both ETFs have the same 0.03% expense ratio. On volatility, SPTB has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VGLT has performed better with a 5.25% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT and SPTB have the same expense ratio: 0.03% per year.
VGLT has the higher dividend yield at 4.61%, compared with 4.20% for SPTB.
VGLT tracks Bloomberg U.S. Long Treasury Index, while SPTB tracks Bloomberg U.S. Treasury Index. They also come from different issuers: Vanguard and State Street.
SPTB currently has the higher Sharpe Ratio (1.07 vs 0.59), 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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