VOO vs. USTY.L
VOO (Vanguard S&P 500 ETF) and USTY.L (SPDR Bloomberg US Treasury Bond UCITS ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while USTY.L is a Government Bonds fund tracking the Bloomberg US Treasury Index. Both are passively managed. Over the past 10 years, VOO returned 15.23%/yr vs 1.54%/yr for USTY.L. At a 0.04 correlation, their price movements are largely independent. VOO charges 0.03%/yr vs 0.05%/yr for USTY.L.
Performance
VOO vs. USTY.L - Performance Comparison
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Different Trading Currencies
VOO is traded in USD, while USTY.L is traded in GBP. To make them comparable, the USTY.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VOO achieves a 8.45% return, which is significantly higher than USTY.L's 0.42% return. Over the past 10 years, VOO has outperformed USTY.L with an annualized return of 15.23%, while USTY.L has yielded a comparatively lower 1.54% annualized return.
VOO
- 1D
- -2.59%
- 1M
- 0.50%
- YTD
- 8.45%
- 6M
- 8.18%
- 1Y
- 25.87%
- 3Y*
- 21.52%
- 5Y*
- 13.39%
- 10Y*
- 15.23%
USTY.L
- 1D
- 0.26%
- 1M
- -0.28%
- YTD
- 0.42%
- 6M
- 0.88%
- 1Y
- 5.09%
- 3Y*
- 3.82%
- 5Y*
- 0.31%
- 10Y*
- 1.54%
VOO vs. USTY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 8.45% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 0.42% | 7.65% | 1.64% | 3.84% | -12.17% | -1.76% | 7.78% | 8.38% | 1.15% | 2.48% |
Correlation
The correlation between VOO and USTY.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015 | 0.04 |
The correlation between VOO and USTY.L shifts across timeframes, from 0.04 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VOO vs. USTY.L — Risk / Return Rank
VOO
USTY.L
VOO vs. USTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) and SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L). 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.
| VOO | USTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.16 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.46 | +1.46 |
| Martin ratioReturn relative to average drawdown | 13.53 | 4.56 | +8.96 |
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
| VOO | USTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 0.94 | +1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.04 | +0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.22 | +0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.26 | +0.62 |
Drawdowns
VOO vs. USTY.L - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, which is greater than USTY.L's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for VOO and USTY.L.
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Drawdown Indicators
| VOO | USTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -18.61% | -15.38% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -3.42% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -5.11% | -13.58% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -16.44% | -8.08% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -18.61% | -15.38% |
Current DrawdownCurrent decline from peak | -2.90% | -3.73% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -5.80% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.09% | +0.83% |
Volatility
VOO vs. USTY.L - Volatility Comparison
Vanguard S&P 500 ETF (VOO) has a higher volatility of 3.74% compared to SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) at 1.73%. This indicates that VOO's price experiences larger fluctuations and is considered to be riskier than USTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOO | USTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 1.73% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.30% | 3.97% | +5.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 5.33% | +6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 7.13% | +9.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 6.86% | +11.16% |
VOO vs. USTY.L - Expense Ratio Comparison
VOO has a 0.03% expense ratio, which is lower than USTY.L'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. USTY.L - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.05%, less than USTY.L's 4.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 4.87% | 4.61% | 3.81% | 2.81% | 1.57% | 1.31% | 2.49% | 2.79% | 2.11% | 2.11% | 1.66% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.05% | 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 USTY.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VOO is cheaper with a 0.03% expense ratio, compared with 0.05% for USTY.L.
VOO is categorized as S&P 500, while USTY.L is Government Bonds. VOO tracks S&P 500 Index, while USTY.L tracks Bloomberg US Treasury Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.03% for VOO and 0.05% for USTY.L.
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