VGOV.DE vs. IS0M.DE
VGOV.DE (Vanguard UK Gilt UCITS ETF Distributing) and IS0M.DE (iShares Italy Government Bond UCITS ETF EUR Dist) are both European Government Bonds funds - VGOV.DE tracks the FTSE Act UK Cnvt Gilts All Stocks TR GBP while IS0M.DE tracks the Bloomberg Italy Treasury Bond. Both are passively managed. Over the past 5 years, VGOV.DE returned -5.47%/yr vs -0.79%/yr for IS0M.DE. A 0.51 correlation means they provide meaningful diversification when combined. VGOV.DE charges 0.07%/yr vs 0.20%/yr for IS0M.DE.
Performance
VGOV.DE vs. IS0M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGOV.DE achieves a -0.51% return, which is significantly lower than IS0M.DE's -0.32% return.
VGOV.DE
- 1D
- 0.07%
- 1M
- 0.49%
- YTD
- -0.51%
- 6M
- -0.16%
- 1Y
- -0.62%
- 3Y*
- 2.00%
- 5Y*
- -5.47%
- 10Y*
- —
IS0M.DE
- 1D
- 0.01%
- 1M
- -0.06%
- YTD
- -0.32%
- 6M
- -0.26%
- 1Y
- 1.11%
- 3Y*
- 4.15%
- 5Y*
- -0.79%
- 10Y*
- 0.92%
VGOV.DE vs. IS0M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | -0.51% | 0.18% | -0.21% | 5.44% | -30.78% | 1.88% | 2.84% | 13.71% | -1.09% | 2.53% |
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | -0.32% | 3.07% | 4.66% | 9.14% | -17.24% | -2.99% | 7.54% | 10.45% | -1.48% | -0.37% |
Correlation
The correlation between VGOV.DE and IS0M.DE is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.51 |
The correlation between VGOV.DE and IS0M.DE shifts across timeframes, from 0.51 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGOV.DE vs. IS0M.DE — Risk / Return Rank
VGOV.DE
IS0M.DE
VGOV.DE vs. IS0M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) and iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE). 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.
| VGOV.DE | IS0M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.03 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.19 | -0.32 |
| Martin ratioReturn relative to average drawdown | -0.29 | 0.58 | -0.87 |
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
| VGOV.DE | IS0M.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 0.17 | -0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | -0.11 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.49 | -0.62 |
Drawdowns
VGOV.DE vs. IS0M.DE - Drawdown Comparison
The maximum VGOV.DE drawdown since its inception was -40.95%, which is greater than IS0M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for VGOV.DE and IS0M.DE.
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Drawdown Indicators
| VGOV.DE | IS0M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.95% | -21.08% | -19.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -4.28% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -9.01% | -4.42% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -40.45% | -20.85% | -19.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.08% | — |
Current DrawdownCurrent decline from peak | -30.35% | -6.33% | -24.02% |
Average DrawdownAverage peak-to-trough decline | -16.60% | -5.53% | -11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 1.43% | +0.92% |
Volatility
VGOV.DE vs. IS0M.DE - Volatility Comparison
Vanguard UK Gilt UCITS ETF Distributing (VGOV.DE) has a higher volatility of 3.34% compared to iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) at 1.99%. This indicates that VGOV.DE's price experiences larger fluctuations and is considered to be riskier than IS0M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGOV.DE | IS0M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 1.99% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.15% | 4.25% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 4.84% | +3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 6.80% | +6.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.86% | 6.73% | +5.13% |
VGOV.DE vs. IS0M.DE - Expense Ratio Comparison
VGOV.DE has a 0.07% expense ratio, which is lower than IS0M.DE'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
VGOV.DE vs. IS0M.DE - Dividend Comparison
VGOV.DE's dividend yield for the trailing twelve months is around 4.59%, more than IS0M.DE's 2.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | 2.83% | 2.82% | 2.66% | 2.10% | 1.05% | 0.74% | 0.98% | 1.45% | 1.37% | 1.37% | 1.47% | 1.83% |
VGOV.DE Vanguard UK Gilt UCITS ETF Distributing | 4.59% | 4.59% | 4.08% | 3.17% | 1.94% | 1.07% | 1.18% | 1.34% | 1.60% | 0.27% | 0.00% | 0.00% |
Frequently Asked Questions
VGOV.DE and IS0M.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGOV.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGOV.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IS0M.DE.
VGOV.DE tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while IS0M.DE tracks Bloomberg Italy Treasury Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGOV.DE and 0.20% for IS0M.DE.
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