VGTY.DE vs. EXHC.DE
VGTY.DE (Vanguard USD Treasury Bond UCITS ETF Distributing) and EXHC.DE (iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE)) are both Government Bonds funds - VGTY.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while EXHC.DE tracks the eb.rexx Government Germany 2.5-5.5 Index. Both are passively managed. Over the past 5 years, VGTY.DE returned -0.07%/yr vs -1.02%/yr for EXHC.DE. At a 0.39 correlation, their price movements are largely independent. VGTY.DE charges 0.05%/yr vs 0.16%/yr for EXHC.DE.
Performance
VGTY.DE vs. EXHC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGTY.DE achieves a 2.65% return, which is significantly higher than EXHC.DE's -0.23% return.
VGTY.DE
- 1D
- 0.22%
- 1M
- 1.19%
- 6M
- 1.60%
- YTD
- 2.65%
- 1Y
- 5.09%
- 3Y*
- 2.29%
- 5Y*
- -0.07%
- 10Y*
- —
EXHC.DE
- 1D
- 0.03%
- 1M
- -0.36%
- 6M
- -0.63%
- YTD
- -0.23%
- 1Y
- -0.10%
- 3Y*
- 2.10%
- 5Y*
- -1.02%
- 10Y*
- -0.68%
VGTY.DE vs. EXHC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 2.65% | -5.53% | 6.49% | 0.32% | -6.92% | 5.85% | -1.94% | 9.66% | 4.95% | -2.98% |
EXHC.DE iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) | -0.23% | 1.16% | 1.57% | 4.17% | -10.23% | -1.37% | -0.09% | -0.18% | 0.47% | -0.37% |
Correlation
The correlation between VGTY.DE and EXHC.DE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.39 |
Over the past year, the correlation between VGTY.DE and EXHC.DE has dropped to 0.08 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.
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Return for Risk
VGTY.DE vs. EXHC.DE — Risk / Return Rank
VGTY.DE
EXHC.DE
VGTY.DE vs. EXHC.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 eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) (EXHC.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.
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.
| VGTY.DE | EXHC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.00 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.05 | +1.32 |
| Martin ratioReturn relative to average drawdown | 3.27 | -0.11 | +3.38 |
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Drawdowns
VGTY.DE vs. EXHC.DE - Drawdown Comparison
The maximum VGTY.DE drawdown since its inception was -17.51%, which is greater than EXHC.DE's maximum drawdown of -14.39%. Use the drawdown chart below to compare losses from any high point for VGTY.DE and EXHC.DE.
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Drawdown Indicators
| VGTY.DE | EXHC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.51% | -14.39% | -3.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -2.06% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -11.05% | -2.33% | -8.72% |
Max Drawdown (5Y)Largest decline over 5 years | -12.99% | -12.55% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.39% | — |
Current DrawdownCurrent decline from peak | -11.59% | -7.34% | -4.25% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -2.91% | -6.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 0.89% | +0.66% |
Volatility
VGTY.DE vs. EXHC.DE - Volatility Comparison
Vanguard USD Treasury Bond UCITS ETF Distributing (VGTY.DE) has a higher volatility of 1.56% compared to iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) (EXHC.DE) at 0.66%. This indicates that VGTY.DE's price experiences larger fluctuations and is considered to be riskier than EXHC.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 | EXHC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 0.66% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 2.11% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 2.44% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 3.59% | +4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 2.77% | +4.88% |
VGTY.DE vs. EXHC.DE - Expense Ratio Comparison
VGTY.DE has a 0.05% expense ratio, which is lower than EXHC.DE's 0.16% 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. EXHC.DE - Dividend Comparison
VGTY.DE's dividend yield for the trailing twelve months is around 4.19%, more than EXHC.DE's 1.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHC.DE iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) | 1.41% | 1.38% | 1.11% | 0.81% | 0.41% | 0.68% | 0.86% | 1.08% | 0.91% | 1.34% | 1.65% | 1.82% |
VGTY.DE Vanguard USD Treasury Bond UCITS ETF Distributing | 4.19% | 4.49% | 3.94% | 3.47% | 2.14% | 1.17% | 1.67% | 2.35% | 2.28% | 0.30% | 0.00% | 0.00% |
Frequently Asked Questions
VGTY.DE and EXHC.DE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.16% for EXHC.DE.
VGTY.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while EXHC.DE tracks eb.rexx Government Germany 2.5-5.5 Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VGTY.DE and 0.16% for EXHC.DE.
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