VLGIX vs. VGIVX
VLGIX (Vanguard Long-Term Treasury Index Fund Institutional Shares) and VGIVX (Vanguard Emerging Markets Government Bond Index Fund Institutional Shares) are both Government Bonds funds from Vanguard. Over the past 10 years, VLGIX returned -1.03%/yr vs 3.65%/yr for VGIVX. At a 0.39 correlation, their price movements are largely independent. VLGIX charges 0.05%/yr vs 0.18%/yr for VGIVX.
Performance
VLGIX vs. VGIVX - Performance Comparison
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Returns By Period
In the year-to-date period, VLGIX achieves a -0.22% return, which is significantly lower than VGIVX's 1.70% return. Over the past 10 years, VLGIX has underperformed VGIVX with an annualized return of -1.03%, while VGIVX has yielded a comparatively higher 3.65% annualized return.
VLGIX
- 1D
- 0.17%
- 1M
- 1.13%
- YTD
- -0.22%
- 6M
- -1.29%
- 1Y
- 5.63%
- 3Y*
- -0.45%
- 5Y*
- -4.92%
- 10Y*
- -1.03%
VGIVX
- 1D
- 0.22%
- 1M
- 1.04%
- YTD
- 1.70%
- 6M
- 1.99%
- 1Y
- 11.36%
- 3Y*
- 9.79%
- 5Y*
- 2.38%
- 10Y*
- 3.65%
VLGIX vs. VGIVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares | -0.22% | 5.46% | -6.11% | 3.67% | -29.45% | -5.06% | 17.72% | 14.31% | -1.59% | 8.64% |
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares | 1.70% | 13.05% | 6.31% | 10.48% | -16.72% | -2.41% | 5.83% | 14.03% | -2.72% | 8.47% |
Correlation
The correlation between VLGIX and VGIVX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014 | 0.39 |
Over the past year, VLGIX and VGIVX have become more correlated (0.64) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
VLGIX vs. VGIVX — Risk / Return Rank
VLGIX
VGIVX
VLGIX vs. VGIVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) and Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX). 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.
| VLGIX | VGIVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.58 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 2.98 | -2.19 |
| Martin ratioReturn relative to average drawdown | 2.06 | 11.93 | -9.87 |
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
| VLGIX | VGIVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 2.85 | -2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.38 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.58 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.69 | -0.50 |
Drawdowns
VLGIX vs. VGIVX - Drawdown Comparison
The maximum VLGIX drawdown since its inception was -46.23%, which is greater than VGIVX's maximum drawdown of -26.79%. Use the drawdown chart below to compare losses from any high point for VLGIX and VGIVX.
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Drawdown Indicators
| VLGIX | VGIVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.23% | -26.79% | -19.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.99% | -3.93% | -3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.65% | -7.14% | -10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -41.00% | -26.79% | -14.21% |
Max Drawdown (10Y)Largest decline over 10 years | -46.23% | -26.79% | -19.44% |
Current DrawdownCurrent decline from peak | -36.41% | -0.07% | -36.34% |
Average DrawdownAverage peak-to-trough decline | -15.03% | -4.70% | -10.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 0.98% | +1.70% |
Volatility
VLGIX vs. VGIVX - Volatility Comparison
Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) has a higher volatility of 2.69% compared to Vanguard Emerging Markets Government Bond Index Fund Institutional Shares (VGIVX) at 1.56%. This indicates that VLGIX's price experiences larger fluctuations and is considered to be riskier than VGIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLGIX | VGIVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.56% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 3.35% | +2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.98% | 4.12% | +4.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.56% | 6.30% | +8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.72% | 6.36% | +7.36% |
VLGIX vs. VGIVX - Expense Ratio Comparison
VLGIX has a 0.05% expense ratio, which is lower than VGIVX's 0.18% 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
VLGIX vs. VGIVX - Dividend Comparison
VLGIX's dividend yield for the trailing twelve months is around 4.59%, less than VGIVX's 5.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGIVX Vanguard Emerging Markets Government Bond Index Fund Institutional Shares | 5.88% | 5.95% | 6.58% | 5.53% | 5.32% | 3.53% | 4.21% | 4.62% | 4.62% | 4.67% | 4.76% | 4.55% |
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares | 4.59% | 4.43% | 4.67% | 3.31% | 2.83% | 1.78% | 2.15% | 2.46% | 2.73% | 2.57% | 2.70% | 2.82% |
Frequently Asked Questions
VLGIX and VGIVX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VLGIX has higher volatility (2.69%) compared to VGIVX (1.56%). In terms of maximum drawdown, VLGIX dropped -46.23% vs VGIVX's -26.79%.
VGIVX currently has the higher Sharpe Ratio (2.85 vs 0.62), 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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