VGLT vs. VOO
VGLT (Vanguard Long-Term Treasury ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VGLT returned -1.63%/yr vs 15.35%/yr for VOO. Their -0.22 correlation means they have often moved in opposite directions in the past. Both charge a 0.03% expense ratio.
Performance
VGLT vs. VOO - 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 VOO's 13.52% return. Over the past 10 years, VGLT has underperformed VOO with an annualized return of -1.63%, while VOO has yielded a comparatively higher 15.35% 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%
VOO
- 1D
- -0.19%
- 1M
- 2.46%
- 6M
- 12.84%
- YTD
- 13.52%
- 1Y
- 24.01%
- 3Y*
- 21.49%
- 5Y*
- 13.30%
- 10Y*
- 15.35%
- ALL TIME*
- 14.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.06M | $103.64M | $108.85M | |
| $4.29B | $3.83B | $5.49B |
VGLT vs. VOO - 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% |
VOO Vanguard S&P 500 ETF | 13.52% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between VGLT and VOO is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | -0.22 |
The correlation between VGLT and VOO shifts across timeframes, from -0.22 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VGLT vs. VOO — Risk / Return Rank
VGLT
VOO
VGLT vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.69 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.34 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 2.71 | -2.84 |
| Martin ratioReturn relative to average drawdown | -0.27 | 11.57 | -11.85 |
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Drawdowns
VGLT vs. VOO - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VGLT and VOO.
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Drawdown Indicators
| VGLT | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -33.99% | -12.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -8.90% | +1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | -18.69% | +5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -24.52% | -16.46% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -33.99% | -12.19% |
Current DrawdownCurrent decline from peak | -37.83% | -0.19% | -37.64% |
Average DrawdownAverage peak-to-trough decline | -15.28% | -3.67% | -11.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.08% | +1.18% |
Volatility
VGLT vs. VOO - Volatility Comparison
The current volatility for Vanguard Long-Term Treasury ETF (VGLT) is 2.32%, while Vanguard S&P 500 ETF (VOO) has a volatility of 4.07%. This indicates that VGLT experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 4.07% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 10.27% | -3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 12.81% | -4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 16.96% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.74% | 18.03% | -4.29% |
VGLT vs. VOO - Expense Ratio Comparison
Both VGLT and VOO 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. VOO - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.74%, more than VOO's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VOO Vanguard S&P 500 ETF | 1.04% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
VGLT and VOO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.07%) compared to VGLT (2.32%). In terms of maximum drawdown, VGLT dropped -46.18% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.35% vs -1.63% for VGLT. Both ETFs have the same 0.03% expense ratio. On volatility, VGLT has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.35% return vs -1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT and VOO have the same expense ratio: 0.03% per year.
VGLT has the higher dividend yield at 4.74%, compared with 1.04% for VOO.
VGLT is categorized as Government Bonds, while VOO is S&P 500. VGLT tracks Bloomberg U.S. Long Treasury Index, while VOO tracks S&P 500 Index.
VOO currently has the higher Sharpe Ratio (1.88 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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