VOO vs. GOVT
VOO (Vanguard S&P 500 ETF) and GOVT (iShares U.S. Treasury Bond ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index. Both are passively managed. Over the past 10 years, VOO returned 15.72%/yr vs 0.83%/yr for GOVT. At a correlation of -0.16, they often move in opposite directions. VOO charges 0.03%/yr vs 0.05%/yr for GOVT.
Performance
VOO vs. GOVT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VOO achieves a 10.99% return, which is significantly higher than GOVT's 0.18% return. Over the past 10 years, VOO has outperformed GOVT with an annualized return of 15.72%, while GOVT has yielded a comparatively lower 0.83% annualized return.
VOO
- 1D
- 1.74%
- 1M
- 2.12%
- YTD
- 10.99%
- 6M
- 11.51%
- 1Y
- 27.95%
- 3Y*
- 21.25%
- 5Y*
- 13.93%
- 10Y*
- 15.72%
GOVT
- 1D
- 0.07%
- 1M
- 1.02%
- YTD
- 0.18%
- 6M
- 0.42%
- 1Y
- 3.71%
- 3Y*
- 2.99%
- 5Y*
- -0.38%
- 10Y*
- 0.83%
VOO vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 10.99% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
GOVT iShares U.S. Treasury Bond ETF | 0.18% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
Correlation
The correlation between VOO and GOVT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | -0.16 |
The correlation between VOO and GOVT shifts across timeframes, from -0.16 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VOO vs. GOVT — Risk / Return Rank
VOO
GOVT
VOO vs. GOVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) and iShares U.S. Treasury Bond ETF (GOVT). 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.
| VOO | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.18 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 1.31 | +1.85 |
| Martin ratioReturn relative to average drawdown | 14.25 | 3.64 | +10.61 |
Loading charts...
Drawdowns
VOO vs. GOVT - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, which is greater than GOVT's maximum drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for VOO and GOVT.
Loading charts...
Drawdown Indicators
| VOO | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -19.07% | -14.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -2.85% | -6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -5.43% | -13.26% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -16.60% | -7.92% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -19.07% | -14.92% |
Current DrawdownCurrent decline from peak | -0.63% | -6.91% | +6.28% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -5.25% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.02% | +0.95% |
Volatility
VOO vs. GOVT - Volatility Comparison
Vanguard S&P 500 ETF (VOO) has a higher volatility of 4.61% compared to iShares U.S. Treasury Bond ETF (GOVT) at 1.15%. This indicates that VOO's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VOO | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 1.15% | +3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 2.58% | +7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.34% | 3.56% | +8.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 6.04% | +10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 5.23% | +12.82% |
VOO vs. GOVT - Expense Ratio Comparison
VOO has a 0.03% expense ratio, which is lower than GOVT's 0.05% 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
VOO vs. GOVT - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.03%, less than GOVT's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
VOO Vanguard S&P 500 ETF | 1.03% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
VOO and GOVT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.61%) compared to GOVT (1.15%). In terms of maximum drawdown, VOO dropped -33.99% vs GOVT's -19.07%.
On 10-year performance, VOO leads with 15.72% vs 0.83% for GOVT. On fees, VOO is cheaper at 0.03% per year. On volatility, GOVT has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.72% return vs 0.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.05% for GOVT.
GOVT has the higher dividend yield at 3.58%, compared with 1.03% for VOO.
VOO is categorized as S&P 500, while GOVT is Government Bonds. VOO tracks S&P 500 Index, while GOVT tracks ICE U.S. Treasury Core Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VOO and 0.05% for GOVT.
VOO currently has the higher Sharpe Ratio (2.28 vs 1.05), 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.
Find the right allocation for VOO and GOVT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer