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 -1.63%/yr vs 1.38%/yr for VBTLX. Their correlation of 0.88 means they have usually moved in the same direction. 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 -1.98% return, which is significantly lower than VBTLX's -0.39% return. Over the past 10 years, VGLT has underperformed VBTLX with an annualized return of -1.63%, while VBTLX has yielded a comparatively higher 1.38% annualized return.
VGLT
- 1D
- 0.17%
- 1M
- -2.13%
- 6M
- -1.56%
- YTD
- -1.98%
- 1Y
- -0.89%
- 3Y*
- 0.27%
- 5Y*
- -6.65%
- 10Y*
- -1.63%
- ALL TIME*
- 2.34%
VBTLX
- 1D
- 0.32%
- 1M
- -1.04%
- 6M
- -0.42%
- YTD
- -0.39%
- 1Y
- 1.88%
- 3Y*
- 4.06%
- 5Y*
- -0.38%
- 10Y*
- 1.38%
- ALL TIME*
- 3.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $107.06M | $103.64M | $108.85M |
VGLT vs. VBTLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | -1.98% | 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 | -0.39% | 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 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.88 |
The correlation between VGLT and VBTLX has been stable across timeframes, ranging from 0.86 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.
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 | VBTLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.09 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.65 | -0.78 |
| Martin ratioReturn relative to average drawdown | -0.27 | 1.59 | -1.87 |
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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 | -7.03% | -2.89% | -4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | -4.86% | -8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -17.98% | -23.00% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -18.81% | -27.37% |
Current DrawdownCurrent decline from peak | -37.83% | -2.97% | -34.86% |
Average DrawdownAverage peak-to-trough decline | -15.28% | -2.67% | -12.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 1.18% | +2.08% |
Volatility
VGLT vs. VBTLX - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.32% compared to Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) at 1.06%. 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 | 2.32% | 1.06% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 2.97% | +3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 3.74% | +4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 6.01% | +8.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.74% | 4.98% | +8.76% |
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 4.74%, more than VBTLX's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTLX Vanguard Total Bond Market Index Fund Admiral Shares | 3.70% | 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 | 4.74% | 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 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.32%) compared to VBTLX (1.06%). In terms of maximum drawdown, VGLT dropped -46.18% vs VBTLX's -18.81%.
VBTLX currently has the higher Sharpe Ratio (0.51 vs -0.11), 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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