VGLT vs. VUSTX

Last updated Jun 4, 2026

VGLT (Vanguard Long-Term Treasury ETF) and VUSTX (Vanguard Long-Term Treasury Fund Investor Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VGLT returned -1.10%/yr vs -1.10%/yr for VUSTX. With a 0.98 correlation, they move nearly in lockstep. VGLT charges 0.03%/yr vs 0.20%/yr for VUSTX.

Performance

VGLT vs. VUSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Treasury ETF (VGLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGLT achieves a -0.41% return, which is significantly lower than VUSTX's -0.05% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: VGLT at -1.10% and VUSTX at -1.10%.

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%

VUSTX

• 1D: 0.26%
• 1M: 1.17%
• YTD: -0.05%
• 6M: -1.17%
• 1Y: 5.83%
• 3Y*: -0.47%
• 5Y*: -5.03%
• 10Y*: -1.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGLT vs. VUSTX - 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%
VUSTX Vanguard Long-Term Treasury Fund Investor Shares	-0.05%	5.55%	-6.41%	3.33%	-29.58%	-4.93%	18.20%	14.14%	-1.89%	8.60%

Correlation

The correlation between VGLT and VUSTX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Nov 25, 2009	0.98

The correlation between VGLT and VUSTX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

VGLT vs. VUSTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VGLT

VGLT Risk / Return Rank: 18
VGLT Sharpe Ratio Rank: 18
VGLT Sortino Ratio Rank: 17
VGLT Omega Ratio Rank: 16
VGLT Calmar Ratio Rank: 18
VGLT Martin Ratio Rank: 18

VUSTX

VUSTX Risk / Return Rank: 7
VUSTX Sharpe Ratio Rank: 7
VUSTX Sortino Ratio Rank: 7
VUSTX Omega Ratio Rank: 7
VUSTX Calmar Ratio Rank: 8
VUSTX Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VGLT vs. VUSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX). 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	VUSTX	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.63	-0.04
Sortino ratio: Return per unit of downside risk	0.92	0.95	-0.04
Omega ratio: Gain probability vs. loss probability	1.10	1.11	-0.01
Calmar ratio: Return relative to maximum drawdown	0.75	0.80	-0.04
Martin ratio: Return relative to average drawdown	1.96	2.10	-0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGLT vs. VUSTX - Sharpe Ratio Comparison

The current VGLT Sharpe Ratio is 0.59, which is comparable to the VUSTX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of VGLT and VUSTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VGLT	VUSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.63	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.37	-0.35	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	-0.08	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.44	-0.25

Drawdowns

VGLT vs. VUSTX - Drawdown Comparison

The maximum VGLT drawdown since its inception was -46.18%, roughly equal to the maximum VUSTX drawdown of -46.37%. Use the drawdown chart below to compare losses from any high point for VGLT and VUSTX.

Drawdown Indicators

	VGLT	VUSTX	Difference
Max Drawdown Largest peak-to-trough decline	-46.18%	-46.37%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	-7.19%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-17.68%	-17.70%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-40.98%	-41.45%	+0.47%
Max Drawdown (10Y) Largest decline over 10 years	-46.18%	-46.37%	+0.19%
Current Drawdown Current decline from peak	-36.83%	-36.46%	-0.37%
Average Drawdown Average peak-to-trough decline	-15.06%	-9.34%	-5.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.72%	-0.04%

Volatility

VGLT vs. VUSTX - Volatility Comparison

Vanguard Long-Term Treasury ETF (VGLT) and Vanguard Long-Term Treasury Fund Investor Shares (VUSTX) have volatilities of 2.59% and 2.72%, 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.

Volatility by Period

	VGLT	VUSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	2.72%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	6.18%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	8.88%	9.09%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.58%	14.62%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.81%	13.76%	+0.05%

VGLT vs. VUSTX - Expense Ratio Comparison

VGLT has a 0.03% expense ratio, which is lower than VUSTX's 0.20% 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. VUSTX - Dividend Comparison

VGLT's dividend yield for the trailing twelve months is around 4.61%, more than VUSTX's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VUSTX Vanguard Long-Term Treasury Fund Investor Shares	4.46%	4.29%	4.03%	3.33%	2.93%	4.21%	10.38%	2.82%	2.82%	2.64%	5.27%	5.52%

Frequently Asked Questions

Can I hold both VGLT and VUSTX in my portfolio?

With a correlation of 0.98, VGLT and VUSTX 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.

Which is riskier, VGLT or VUSTX?

VUSTX has higher volatility (2.72%) compared to VGLT (2.59%). In terms of maximum drawdown, VGLT dropped -46.18% vs VUSTX's -46.37%.

Which has better risk-adjusted returns?

VUSTX currently has the higher Sharpe Ratio (0.63 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.