VGVT vs. FLGV
VGVT (Vanguard Government Securities Active ETF) and FLGV (Franklin Liberty U.S. Treasury Bond ETF) are both exchange-traded funds - VGVT is a Intermediate Core Bond fund actively managed by Vanguard, while FLGV is a Government Bonds fund actively managed by Franklin Templeton. Both are actively managed. Over the past year, VGVT returned 1.76% vs 1.12% for FLGV. Their correlation of 0.89 means they have usually moved in the same direction. VGVT charges 0.10%/yr vs 0.09%/yr for FLGV.
Performance
VGVT vs. FLGV - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with VGVT at -0.65% and FLGV at -0.65%.
VGVT
- 1D
- -0.38%
- 1M
- -1.01%
- 6M
- -0.94%
- YTD
- -0.65%
- 1Y
- 1.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.72%
FLGV
- 1D
- -0.22%
- 1M
- -1.24%
- 6M
- -0.77%
- YTD
- -0.65%
- 1Y
- 1.12%
- 3Y*
- 3.08%
- 5Y*
- -0.65%
- 10Y*
- —
- ALL TIME*
- -0.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.18M | $1.69M | $2.18M | |
| $256.38K | $357.24K | $499.27K |
VGVT vs. FLGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VGVT Vanguard Government Securities Active ETF | -0.65% | 3.56% |
FLGV Franklin Liberty U.S. Treasury Bond ETF | -0.65% | 3.18% |
Correlation
The correlation between VGVT and FLGV is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025 | 0.89 |
The correlation between VGVT and FLGV has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.
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Return for Risk
VGVT vs. FLGV — Risk / Return Rank
VGVT
FLGV
VGVT vs. FLGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Government Securities Active ETF (VGVT) and Franklin Liberty U.S. Treasury Bond ETF (FLGV). 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.
| VGVT | FLGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.09 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.72 | +0.20 |
| Martin ratioReturn relative to average drawdown | 2.19 | 1.73 | +0.46 |
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Drawdowns
VGVT vs. FLGV - Drawdown Comparison
The maximum VGVT drawdown since its inception was -2.77%, smaller than the maximum FLGV drawdown of -17.63%. Use the drawdown chart below to compare losses from any high point for VGVT and FLGV.
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Drawdown Indicators
| VGVT | FLGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.77% | -17.63% | +14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.82% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.13% | — |
Current DrawdownCurrent decline from peak | -2.50% | -6.21% | +3.71% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -8.64% | +7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.16% | 0.00% |
Volatility
VGVT vs. FLGV - Volatility Comparison
Vanguard Government Securities Active ETF (VGVT) has a higher volatility of 0.99% compared to Franklin Liberty U.S. Treasury Bond ETF (FLGV) at 0.93%. This indicates that VGVT's price experiences larger fluctuations and is considered to be riskier than FLGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGVT | FLGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 0.93% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 2.74% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 3.66% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.27% | 5.43% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.27% | 5.12% | -1.85% |
VGVT vs. FLGV - Expense Ratio Comparison
VGVT has a 0.10% expense ratio, which is higher than FLGV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGVT vs. FLGV - Dividend Comparison
VGVT's dividend yield for the trailing twelve months is around 4.40%, more than FLGV's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FLGV Franklin Liberty U.S. Treasury Bond ETF | 3.86% | 4.07% | 4.13% | 3.46% | 2.21% | 1.92% | 0.97% |
VGVT Vanguard Government Securities Active ETF | 4.14% | 2.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGVT and FLGV have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGVT has higher volatility (0.99%) compared to FLGV (0.93%). In terms of maximum drawdown, VGVT dropped -2.77% vs FLGV's -17.63%.
On 1-year performance, VGVT leads with 1.76% vs 1.12% for FLGV. On fees, FLGV is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VGVT has performed better with a 1.76% return vs 1.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLGV is cheaper with a 0.09% expense ratio, compared with 0.10% for VGVT.
VGVT has the higher dividend yield at 4.14%, compared with 3.86% for FLGV.
VGVT is categorized as Intermediate Core Bond, while FLGV is Government Bonds. They also come from different issuers: Vanguard and Franklin Templeton. Their fees differ too: 0.10% for VGVT and 0.09% for FLGV.
VGVT currently has the higher Sharpe Ratio (0.78 vs 0.55), 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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