VTMGX vs. TLT
VTMGX (Vanguard Developed Markets Index Fund Admiral Shares) and TLT (iShares 20+ Year Treasury Bond ETF) are both funds - VTMGX is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, VTMGX returned 10.45%/yr vs -1.75%/yr for TLT. At a correlation of -0.20, they often move in opposite directions. VTMGX charges 0.07%/yr vs 0.15%/yr for TLT.
Performance
VTMGX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, VTMGX achieves a 13.89% return, which is significantly higher than TLT's 0.27% return. Over the past 10 years, VTMGX has outperformed TLT with an annualized return of 10.45%, while TLT has yielded a comparatively lower -1.75% annualized return.
VTMGX
- 1D
- 3.45%
- 1M
- 0.53%
- YTD
- 13.89%
- 6M
- 15.93%
- 1Y
- 28.77%
- 3Y*
- 19.10%
- 5Y*
- 9.34%
- 10Y*
- 10.45%
TLT
- 1D
- -0.24%
- 1M
- 1.54%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 2.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
VTMGX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTMGX Vanguard Developed Markets Index Fund Admiral Shares | 13.89% | 35.17% | 3.03% | 17.65% | -15.33% | 11.39% | 10.25% | 22.04% | -14.48% | 26.39% |
TLT iShares 20+ Year Treasury Bond ETF | 0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between VTMGX and TLT is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.20 |
The correlation between VTMGX and TLT shifts across timeframes, from -0.20 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VTMGX vs. TLT — Risk / Return Rank
VTMGX
TLT
VTMGX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| VTMGX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.06 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 0.38 | +2.19 |
| Martin ratioReturn relative to average drawdown | 9.82 | 0.92 | +8.90 |
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Drawdowns
VTMGX vs. TLT - Drawdown Comparison
The maximum VTMGX drawdown since its inception was -60.58%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for VTMGX and TLT.
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Drawdown Indicators
| VTMGX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.58% | -48.35% | -12.23% |
Max Drawdown (1Y)Largest decline over 1 year | -11.67% | -7.58% | -4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -19.18% | +6.00% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -43.70% | +13.99% |
Max Drawdown (10Y)Largest decline over 10 years | -35.68% | -48.35% | +12.67% |
Current DrawdownCurrent decline from peak | -1.72% | -40.12% | +38.40% |
Average DrawdownAverage peak-to-trough decline | -14.64% | -13.84% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.14% | -0.09% |
Volatility
VTMGX vs. TLT - Volatility Comparison
Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) has a higher volatility of 6.63% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.83%. This indicates that VTMGX's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTMGX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.63% | 2.83% | +3.80% |
Volatility (6M)Calculated over the trailing 6-month period | 13.63% | 6.64% | +6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 9.68% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.04% | 15.85% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 14.91% | +1.68% |
VTMGX vs. TLT - Expense Ratio Comparison
VTMGX has a 0.07% expense ratio, which is lower than TLT's 0.15% 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
VTMGX vs. TLT - Dividend Comparison
VTMGX's dividend yield for the trailing twelve months is around 2.63%, less than TLT's 4.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
VTMGX Vanguard Developed Markets Index Fund Admiral Shares | 2.63% | 3.20% | 3.34% | 3.14% | 2.88% | 3.14% | 2.02% | 3.03% | 3.33% | 2.77% | 3.06% | 2.91% |
Frequently Asked Questions
VTMGX and TLT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTMGX has higher volatility (6.63%) compared to TLT (2.83%). In terms of maximum drawdown, VTMGX dropped -60.58% vs TLT's -48.35%.
VTMGX currently has the higher Sharpe Ratio (1.88 vs 0.30), 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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