VGLT vs. VBTLX
VGLT (Vanguard Long-Term Treasury ETF) and VBTLX (Vanguard Total Bond Market Index Fund Admiral Shares) are both funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while VBTLX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, VGLT returned -1.10%/yr vs 1.58%/yr for VBTLX. Their correlation of 0.89 suggests significant overlap in exposure. VGLT charges 0.03%/yr vs 0.04%/yr for VBTLX.
Performance
VGLT vs. VBTLX - 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 VBTLX's 0.42% return. Over the past 10 years, VGLT has underperformed VBTLX with an annualized return of -1.10%, while VBTLX has yielded a comparatively higher 1.58% annualized 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%
VBTLX
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 0.42%
- 6M
- 0.35%
- 1Y
- 5.34%
- 3Y*
- 4.05%
- 5Y*
- 0.21%
- 10Y*
- 1.58%
VGLT vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | -0.41% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 0.42% | 7.17% | 1.26% | 5.74% | -13.16% | -1.81% | 7.72% | 8.73% | -0.25% | 3.56% |
Correlation
The correlation between VGLT and VBTLX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2009 | 0.89 |
The correlation between VGLT and VBTLX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
VGLT vs. VBTLX — Risk / Return Rank
VGLT
VBTLX
VGLT vs. VBTLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX). 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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.24 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 1.86 | -1.10 |
| Martin ratioReturn relative to average drawdown | 1.96 | 5.58 | -3.62 |
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 | VBTLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 1.36 | -0.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.04 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.32 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.76 | -0.57 |
Drawdowns
VGLT vs. VBTLX - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than VBTLX's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for VGLT and VBTLX.
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Drawdown Indicators
| VGLT | VBTLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -18.81% | -27.37% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -2.89% | -4.12% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -6.00% | -11.68% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -18.14% | -22.84% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -18.81% | -27.37% |
Current DrawdownCurrent decline from peak | -36.83% | -2.18% | -34.65% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -2.67% | -12.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.96% | +1.72% |
Volatility
VGLT vs. VBTLX - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.59% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.38%. This indicates that VGLT's price experiences larger fluctuations and is considered to be riskier than VBTLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | VBTLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 1.38% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 5.94% | 2.80% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.88% | 3.97% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.58% | 6.01% | +8.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.81% | 4.98% | +8.83% |
VGLT vs. VBTLX - Expense Ratio Comparison
VGLT has a 0.03% expense ratio, which is lower than VBTLX's 0.04% 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. VBTLX - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.61%, more than VBTLX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.98% | 3.87% | 3.69% | 3.10% | 2.59% | 1.96% | 2.39% | 2.74% | 2.57% | 2.56% | 2.53% | 2.82% |
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
VGLT and VBTLX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.59%) compared to VBTLX (1.38%). In terms of maximum drawdown, VGLT dropped -46.18% vs VBTLX's -18.81%.
VBTLX currently has the higher Sharpe Ratio (1.36 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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