VUAA.L vs. IBTS.L
VUAA.L (Vanguard S&P 500 UCITS ETF USD Accumulation) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both exchange-traded funds - VUAA.L is a S&P 500 fund tracking the S&P 500 Net Total Return, while IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 5 years, VUAA.L returned 13.22%/yr vs 1.83%/yr for IBTS.L. At a correlation of -0.21, they often move in opposite directions. Both charge a 0.07% expense ratio.
Performance
VUAA.L vs. IBTS.L - Performance Comparison
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Different Trading Currencies
VUAA.L is traded in USD, while IBTS.L is traded in GBP. To make them comparable, the IBTS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUAA.L achieves a 8.41% return, which is significantly higher than IBTS.L's 0.32% return.
VUAA.L
- 1D
- 2.02%
- 1M
- -0.83%
- YTD
- 8.41%
- 6M
- 9.69%
- 1Y
- 24.92%
- 3Y*
- 20.75%
- 5Y*
- 13.22%
- 10Y*
- —
IBTS.L
- 1D
- -0.65%
- 1M
- 0.52%
- YTD
- 0.32%
- 6M
- 0.62%
- 1Y
- 3.52%
- 3Y*
- 4.18%
- 5Y*
- 1.83%
- 10Y*
- 1.72%
VUAA.L vs. IBTS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation | 8.41% | 17.37% | 25.27% | 26.68% | -18.63% | 29.34% | 20.33% | 14.82% |
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.32% | 5.49% | 4.02% | 3.79% | -3.89% | -0.28% | 2.72% | 2.55% |
Correlation
The correlation between VUAA.L and IBTS.L is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | -0.21 |
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Return for Risk
VUAA.L vs. IBTS.L — Risk / Return Rank
VUAA.L
IBTS.L
VUAA.L vs. IBTS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) and iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.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.
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.
| VUAA.L | IBTS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.12 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 2.80 | +0.19 |
| Martin ratioReturn relative to average drawdown | 12.46 | 8.03 | +4.42 |
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Drawdowns
VUAA.L vs. IBTS.L - Drawdown Comparison
The maximum VUAA.L drawdown since its inception was -34.05%, which is greater than IBTS.L's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for VUAA.L and IBTS.L.
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Drawdown Indicators
| VUAA.L | IBTS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -16.87% | -17.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -1.07% | -7.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -1.45% | -16.94% |
Max Drawdown (5Y)Largest decline over 5 years | -24.36% | -6.87% | -17.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.24% | — |
Current DrawdownCurrent decline from peak | -2.26% | -0.65% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -10.07% | +5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.37% | +1.60% |
Volatility
VUAA.L vs. IBTS.L - Volatility Comparison
Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) has a higher volatility of 3.99% compared to iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) at 1.60%. This indicates that VUAA.L's price experiences larger fluctuations and is considered to be riskier than IBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUAA.L | IBTS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 1.60% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 9.03% | 3.46% | +5.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.03% | 4.24% | +7.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 5.06% | +10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 5.08% | +12.73% |
VUAA.L vs. IBTS.L - Expense Ratio Comparison
Both VUAA.L and IBTS.L have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VUAA.L vs. IBTS.L - Dividend Comparison
VUAA.L has not paid dividends to shareholders, while IBTS.L's dividend yield for the trailing twelve months is around 3.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.99% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VUAA.L and IBTS.L have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.L and IBTS.L have the same expense ratio: 0.07% per year.
VUAA.L is categorized as S&P 500, while IBTS.L is Government Bonds. VUAA.L tracks S&P 500 Net Total Return, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: Vanguard and iShares.
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