VGVT vs. IBGA

Last updated Jun 4, 2026

VGVT (Vanguard Government Securities Active ETF) and IBGA (iShares iBonds Dec 2044 Term Treasury ETF) are both Intermediate Core Bond funds. VGVT is actively managed, while IBGA is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. VGVT charges 0.10%/yr vs 0.07%/yr for IBGA.

Performance

VGVT vs. IBGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Government Securities Active ETF (VGVT) and iShares iBonds Dec 2044 Term Treasury ETF (IBGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGVT achieves a 0.11% return, which is significantly higher than IBGA's -0.37% return.

VGVT

• 1D: -0.15%
• 1M: 0.17%
• YTD: 0.11%
• 6M: 0.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBGA

• 1D: -0.41%
• 1M: 0.62%
• YTD: -0.37%
• 6M: -1.42%
• 1Y: 5.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VGVT vs. IBGA - Yearly Performance Comparison

	2026 (YTD)	2025
VGVT Vanguard Government Securities Active ETF	0.11%	3.28%
IBGA iShares iBonds Dec 2044 Term Treasury ETF	-0.37%	3.26%

Correlation

The correlation between VGVT and IBGA 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 (All Time) Calculated using the full available price history since Jul 10, 2025	0.92

Return for Risk

VGVT vs. IBGA — Risk / Return Rank

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

IBGA

IBGA Risk / Return Rank: 20
IBGA Sharpe Ratio Rank: 20
IBGA Sortino Ratio Rank: 20
IBGA Omega Ratio Rank: 19
IBGA Calmar Ratio Rank: 20
IBGA Martin Ratio Rank: 20

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.

VGVT vs. IBGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Government Securities Active ETF (VGVT) and iShares iBonds Dec 2044 Term Treasury ETF (IBGA). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VGVT	IBGA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.22	+0.96

Drawdowns

VGVT vs. IBGA - Drawdown Comparison

The maximum VGVT drawdown since its inception was -2.77%, smaller than the maximum IBGA drawdown of -11.69%. Use the drawdown chart below to compare losses from any high point for VGVT and IBGA.

Drawdown Indicators

	VGVT	IBGA	Difference
Max Drawdown Largest peak-to-trough decline	-2.77%	-11.69%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.60%	—
Current Drawdown Current decline from peak	-1.76%	-4.67%	+2.91%
Average Drawdown Average peak-to-trough decline	-0.67%	-5.05%	+4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.40%	—

Volatility

Volatility by Period

	VGVT	IBGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	8.21%	-4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.22%	9.86%	-6.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.22%	9.86%	-6.64%

VGVT vs. IBGA - Expense Ratio Comparison

VGVT has a 0.10% expense ratio, which is higher than IBGA's 0.07% 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. IBGA - Dividend Comparison

VGVT's dividend yield for the trailing twelve months is around 3.99%, less than IBGA's 4.66% yield.

Position	TTM	2025	2024
IBGA iShares iBonds Dec 2044 Term Treasury ETF	4.66%	4.49%	2.03%
VGVT Vanguard Government Securities Active ETF	3.99%	2.29%	0.00%

Frequently Asked Questions

Can I hold both VGVT and IBGA in my portfolio?

With a correlation of 0.92, VGVT and IBGA 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 ETF is better, VGVT or IBGA?

On fees, IBGA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGVT or IBGA?

IBGA is cheaper with a 0.07% expense ratio, compared with 0.10% for VGVT.

Which ETF pays a higher dividend yield, VGVT or IBGA?

IBGA has the higher dividend yield at 4.66%, compared with 3.99% for VGVT.

What is the main difference between VGVT and IBGA?

They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VGVT and 0.07% for IBGA.