VGTY.DE vs. 36BD.DE
VGTY.DE (Vanguard USD Treasury Bond UCITS ETF Distributing) and 36BD.DE (iShares USD Development Bank Bonds UCITS ETF USD Acc) are both Government Bonds funds - VGTY.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while 36BD.DE tracks the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped. Both are passively managed. Over the past 5 years, VGTY.DE returned 0.20%/yr vs 1.94%/yr for 36BD.DE. Their correlation of 0.91 suggests significant overlap in exposure. VGTY.DE charges 0.05%/yr vs 0.15%/yr for 36BD.DE.
Performance
VGTY.DE vs. 36BD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGTY.DE achieves a 0.80% return, which is significantly lower than 36BD.DE's 1.33% return.
VGTY.DE
- 1D
- 0.08%
- 1M
- 0.76%
- YTD
- 0.80%
- 6M
- 0.01%
- 1Y
- 1.03%
- 3Y*
- -0.33%
- 5Y*
- 0.20%
- 10Y*
- —
36BD.DE
- 1D
- 0.05%
- 1M
- 0.66%
- YTD
- 1.33%
- 6M
- 0.68%
- 1Y
- 1.75%
- 3Y*
- 1.18%
- 5Y*
- 1.94%
- 10Y*
- —
VGTY.DE vs. 36BD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 0.80% | -5.99% | 6.16% | 0.04% | -6.98% | 5.18% |
36BD.DE iShares USD Development Bank Bonds UCITS ETF USD Acc | 1.33% | -5.15% | 8.61% | 0.84% | -1.81% | 3.54% |
Correlation
The correlation between VGTY.DE and 36BD.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.91 |
The correlation between VGTY.DE and 36BD.DE has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
VGTY.DE vs. 36BD.DE — Risk / Return Rank
VGTY.DE
36BD.DE
VGTY.DE vs. 36BD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Distributing (VGTY.DE) and iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.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.
| VGTY.DE | 36BD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.06 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 0.47 | -0.22 |
| Martin ratioReturn relative to average drawdown | 0.62 | 1.13 | -0.51 |
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
| VGTY.DE | 36BD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 0.32 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.27 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.18 | -0.05 |
Drawdowns
VGTY.DE vs. 36BD.DE - Drawdown Comparison
The maximum VGTY.DE drawdown since its inception was -17.97%, which is greater than 36BD.DE's maximum drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for VGTY.DE and 36BD.DE.
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Drawdown Indicators
| VGTY.DE | 36BD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.97% | -11.97% | -6.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -3.71% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -11.23% | -10.13% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -13.16% | -11.97% | -1.19% |
Current DrawdownCurrent decline from peak | -14.45% | -6.13% | -8.32% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -4.97% | -4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.55% | +0.12% |
Volatility
VGTY.DE vs. 36BD.DE - Volatility Comparison
Vanguard USD Treasury Bond UCITS ETF Distributing (VGTY.DE) has a higher volatility of 0.85% compared to iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.DE) at 0.74%. This indicates that VGTY.DE's price experiences larger fluctuations and is considered to be riskier than 36BD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGTY.DE | 36BD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.74% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 3.65% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.44% | 5.39% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.99% | 7.21% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.63% | 7.16% | +0.47% |
VGTY.DE vs. 36BD.DE - Expense Ratio Comparison
VGTY.DE has a 0.05% expense ratio, which is lower than 36BD.DE's 0.15% 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
VGTY.DE vs. 36BD.DE - Dividend Comparison
VGTY.DE's dividend yield for the trailing twelve months is around 3.65%, while 36BD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
36BD.DE iShares USD Development Bank Bonds UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 3.65% | 3.99% | 3.65% | 3.21% | 2.05% | 0.99% | 1.48% | 2.10% | 1.94% | 0.26% |
Frequently Asked Questions
With a correlation of 0.92, VGTY.DE and 36BD.DE 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.
On fees, VGTY.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGTY.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for 36BD.DE.
VGTY.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while 36BD.DE tracks FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VGTY.DE and 0.15% for 36BD.DE.
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