VLGIX vs. VOO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) and Vanguard S&P 500 ETF (VOO).

VLGIX is managed by Vanguard. It was launched on Jul 30, 2010. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010.

Performance

VLGIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

VLGIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares	-0.26%	5.46%	-6.11%	3.67%	-29.45%	-5.06%	17.72%	14.31%	-1.59%	8.64%
VOO Vanguard S&P 500 ETF	-4.42%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Returns By Period

In the year-to-date period, VLGIX achieves a -0.26% return, which is significantly higher than VOO's -4.42% return. Over the past 10 years, VLGIX has underperformed VOO with an annualized return of -0.82%, while VOO has yielded a comparatively higher 14.05% annualized return.

VLGIX

• 1D: 1.24%
• 1M: -3.94%
• YTD: -0.26%
• 6M: -0.44%
• 1Y: 0.42%
• 3Y*: -1.41%
• 5Y*: -4.55%
• 10Y*: -0.82%

VOO

• 1D: 2.86%
• 1M: -5.01%
• YTD: -4.42%
• 6M: -1.84%
• 1Y: 17.67%
• 3Y*: 18.27%
• 5Y*: 11.75%
• 10Y*: 14.05%

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

VLGIX vs. VOO - Expense Ratio Comparison

VLGIX has a 0.05% expense ratio, which is higher than VOO's 0.03% 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%.

VLGIX

Vanguard Long-Term Treasury Index Fund Institutional Shares

VOO

Vanguard S&P 500 ETF

Return for Risk

VLGIX vs. VOO — Risk / Return Rank

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

VLGIX

VLGIX Risk / Return Rank: 9
VLGIX Sharpe Ratio Rank: 8
VLGIX Sortino Ratio Rank: 7
VLGIX Omega Ratio Rank: 6
VLGIX Calmar Ratio Rank: 12
VLGIX Martin Ratio Rank: 10

VOO

VOO Risk / Return Rank: 65
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 62
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 65
VOO Martin Ratio Rank: 75

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.

VLGIX vs. VOO - 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 S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio Return per unit of total volatility	0.12	0.98	-0.86
Sortino ratio Return per unit of downside risk	0.23	1.50	-1.26
Omega ratio Gain probability vs. loss probability	1.03	1.23	-0.20
Calmar ratio Return relative to maximum drawdown	0.31	1.53	-1.23
Martin ratio Return relative to average drawdown	0.67	7.29	-6.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLGIX vs. VOO - Sharpe Ratio Comparison

The current VLGIX Sharpe Ratio is 0.12, which is lower than the VOO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of VLGIX and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VLGIX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.98	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	0.70	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	0.78	-0.84
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.83	-0.64

Correlation

The correlation between VLGIX and VOO is -0.23. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

VLGIX vs. VOO - Dividend Comparison

VLGIX's dividend yield for the trailing twelve months is around 4.10%, more than VOO's 1.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLGIX Vanguard Long-Term Treasury Index Fund Institutional Shares	4.10%	4.43%	4.67%	3.31%	2.83%	1.78%	2.15%	2.46%	2.73%	2.57%	2.70%	2.82%
VOO Vanguard S&P 500 ETF	1.19%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Drawdowns

VLGIX vs. VOO - Drawdown Comparison

The maximum VLGIX drawdown since its inception was -46.23%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for VLGIX and VOO.

Drawdown Indicators

	VLGIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-46.23%	-33.99%	-12.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-11.98%	+3.48%
Max Drawdown (5Y) Largest decline over 5 years	-41.00%	-24.52%	-16.48%
Max Drawdown (10Y) Largest decline over 10 years	-46.23%	-33.99%	-12.24%
Current Drawdown Current decline from peak	-36.43%	-6.29%	-30.14%
Average Drawdown Average peak-to-trough decline	-14.80%	-3.72%	-11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	2.52%	+1.33%

Volatility

VLGIX vs. VOO - Volatility Comparison

The current volatility for Vanguard Long-Term Treasury Index Fund Institutional Shares (VLGIX) is 3.58%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.29%. This indicates that VLGIX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLGIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	5.29%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	6.07%	9.44%	-3.37%
Volatility (1Y) Calculated over the trailing 1-year period	10.41%	18.10%	-7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	16.82%	-2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.74%	17.99%	-4.25%