VGLT vs. SPTL
VGLT (Vanguard Long-Term Treasury ETF) and SPTL (SPDR Portfolio Long Term Treasury ETF) are both Government Bonds funds - VGLT tracks the Bloomberg U.S. Long Treasury Index while SPTL tracks the Bloomberg Long U.S. Treasury Index. Both are passively managed. Over the past 10 years, VGLT returned -1.21%/yr vs -1.24%/yr for SPTL. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.
Performance
VGLT vs. SPTL - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a 0.34% return, which is significantly lower than SPTL's 0.39% return. Both investments have delivered pretty close results over the past 10 years, with VGLT having a -1.21% annualized return and SPTL not far behind at -1.24%.
VGLT
- 1D
- -0.67%
- 1M
- 1.89%
- YTD
- 0.34%
- 6M
- 0.36%
- 1Y
- 4.33%
- 3Y*
- -0.80%
- 5Y*
- -5.58%
- 10Y*
- -1.21%
SPTL
- 1D
- -0.68%
- 1M
- 1.96%
- YTD
- 0.39%
- 6M
- 0.39%
- 1Y
- 4.40%
- 3Y*
- -0.77%
- 5Y*
- -5.60%
- 10Y*
- -1.24%
VGLT vs. SPTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | 0.34% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
SPTL SPDR Portfolio Long Term Treasury ETF | 0.39% | 5.28% | -6.23% | 3.30% | -29.44% | -4.99% | 18.07% | 13.74% | -1.57% | 9.01% |
Correlation
The correlation between VGLT and SPTL is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.98 |
The correlation between VGLT and SPTL has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
VGLT vs. SPTL — Risk / Return Rank
VGLT
SPTL
VGLT vs. SPTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and SPDR Portfolio Long Term Treasury ETF (SPTL). 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 | SPTL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.63 | -0.01 |
| Martin ratioReturn relative to average drawdown | 1.54 | 1.56 | -0.02 |
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Drawdowns
VGLT vs. SPTL - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, roughly equal to the maximum SPTL drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for VGLT and SPTL.
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Drawdown Indicators
| VGLT | SPTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -46.20% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -7.04% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -17.55% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -41.02% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -46.20% | +0.02% |
Current DrawdownCurrent decline from peak | -36.35% | -36.38% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -14.29% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 2.83% | -0.02% |
Volatility
VGLT vs. SPTL - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) and SPDR Portfolio Long Term Treasury ETF (SPTL) have volatilities of 2.09% and 2.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | SPTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 2.10% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.08% | 6.13% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.62% | 8.68% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 14.58% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.82% | 13.95% | -0.13% |
VGLT vs. SPTL - Expense Ratio Comparison
Both VGLT and SPTL 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. SPTL - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.57%, more than SPTL's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPTL SPDR Portfolio Long Term Treasury ETF | 4.18% | 4.12% | 4.03% | 3.24% | 2.75% | 1.68% | 1.71% | 2.45% | 2.69% | 2.53% | 2.56% | 2.60% |
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 1.00, VGLT and SPTL 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.
SPTL has higher volatility (2.10%) compared to VGLT (2.09%). In terms of maximum drawdown, VGLT dropped -46.18% vs SPTL's -46.20%.
On 10-year performance, VGLT leads with -1.21% vs -1.24% for SPTL. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VGLT has performed better with a -1.21% return vs -1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT and SPTL have the same expense ratio: 0.03% per year.
VGLT has the higher dividend yield at 4.57%, compared with 4.18% for SPTL.
VGLT tracks Bloomberg U.S. Long Treasury Index, while SPTL tracks Bloomberg Long U.S. Treasury Index. They also come from different issuers: Vanguard and State Street.
SPTL currently has the higher Sharpe Ratio (0.51 vs 0.51), 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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