VGVT vs. IBTO
VGVT (Vanguard Government Securities Active ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. VGVT is actively managed, while IBTO is passively managed. Over the past year, VGVT returned 1.76% vs 0.84% for IBTO. Their correlation of 0.89 means they have usually moved in the same direction. VGVT charges 0.10%/yr vs 0.07%/yr for IBTO.
Performance
VGVT vs. IBTO - Performance Comparison
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Returns By Period
In the year-to-date period, VGVT achieves a -0.65% return, which is significantly higher than IBTO's -1.17% return.
VGVT
- 1D
- -0.38%
- 1M
- -1.01%
- 6M
- -0.94%
- YTD
- -0.65%
- 1Y
- 1.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.72%
IBTO
- 1D
- -0.27%
- 1M
- -1.06%
- 6M
- -0.99%
- YTD
- -1.17%
- 1Y
- 0.84%
- 3Y*
- 2.95%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.47M | $2.89M | $2.06M | |
| $256.38K | $357.24K | $499.27K |
VGVT vs. IBTO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VGVT Vanguard Government Securities Active ETF | -0.65% | 3.56% |
IBTO iShares iBonds Dec 2033 Term Treasury ETF | -1.17% | 3.81% |
Correlation
The correlation between VGVT and IBTO is 0.88, 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. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025 | 0.89 |
The correlation between VGVT and IBTO has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.
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Return for Risk
VGVT vs. IBTO — Risk / Return Rank
VGVT
IBTO
VGVT vs. IBTO - 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 2033 Term Treasury ETF (IBTO). 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 | IBTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.08 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.55 | +0.36 |
| Martin ratioReturn relative to average drawdown | 2.19 | 1.25 | +0.94 |
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Drawdowns
VGVT vs. IBTO - Drawdown Comparison
The maximum VGVT drawdown since its inception was -2.77%, smaller than the maximum IBTO drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for VGVT and IBTO.
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Drawdown Indicators
| VGVT | IBTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.77% | -8.36% | +5.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.66% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.91% | — |
Current DrawdownCurrent decline from peak | -2.50% | -3.22% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -2.37% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.61% | -0.45% |
Volatility
VGVT vs. IBTO - Volatility Comparison
Vanguard Government Securities Active ETF (VGVT) and iShares iBonds Dec 2033 Term Treasury ETF (IBTO) have volatilities of 0.99% and 1.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGVT | IBTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 1.04% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 3.28% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 4.31% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.27% | 6.51% | -3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.27% | 6.51% | -3.24% |
VGVT vs. IBTO - Expense Ratio Comparison
VGVT has a 0.10% expense ratio, which is higher than IBTO'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. IBTO - Dividend Comparison
VGVT's dividend yield for the trailing twelve months is around 4.40%, more than IBTO's 4.18% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBTO iShares iBonds Dec 2033 Term Treasury ETF | 3.83% | 4.05% | 4.23% | 1.66% |
VGVT Vanguard Government Securities Active ETF | 4.14% | 2.29% | 0.00% | 0.00% |
Frequently Asked Questions
VGVT and IBTO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTO has higher volatility (1.04%) compared to VGVT (0.99%). In terms of maximum drawdown, VGVT dropped -2.77% vs IBTO's -8.36%.
On 1-year performance, VGVT leads with 1.76% vs 0.84% for IBTO. On fees, IBTO is cheaper at 0.07% 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 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTO is cheaper with a 0.07% expense ratio, compared with 0.10% for VGVT.
VGVT has the higher dividend yield at 4.14%, compared with 3.83% for IBTO.
They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VGVT and 0.07% for IBTO.
VGVT currently has the higher Sharpe Ratio (0.78 vs 0.47), 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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