VUAG.L vs. IB01.L

Last updated Jun 14, 2026

VUAG.L (Vanguard S&P 500 UCITS ETF (USD) Accumulating) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - VUAG.L is a S&P 500 fund tracking the S&P 500 Index, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, VUAG.L returned 14.39%/yr vs 4.29%/yr for IB01.L. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.07% expense ratio.

Performance

VUAG.L vs. IB01.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VUAG.L is traded in GBP, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VUAG.L achieves a 8.79% return, which is significantly higher than IB01.L's 2.05% return.

VUAG.L

• 1D: 1.48%
• 1M: -0.32%
• YTD: 8.79%
• 6M: 9.16%
• 1Y: 26.56%
• 3Y*: 18.26%
• 5Y*: 14.39%
• 10Y*: —

IB01.L

• 1D: 0.09%
• 1M: 0.23%
• YTD: 2.05%
• 6M: 1.50%
• 1Y: 5.22%
• 3Y*: 2.61%
• 5Y*: 4.29%
• 10Y*: —

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

VUAG.L vs. IB01.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	8.79%	9.36%	27.34%	19.65%	-8.87%	30.97%	16.23%	-12.98%
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	2.05%	-3.10%	7.09%	-0.32%	13.10%	0.08%	-2.08%	-0.85%

Correlation

The correlation between VUAG.L and IB01.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since May 14, 2019	0.18

Return for Risk

VUAG.L vs. IB01.L — Risk / Return Rank

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

VUAG.L

VUAG.L Risk / Return Rank: 82
VUAG.L Sharpe Ratio Rank: 85
VUAG.L Sortino Ratio Rank: 83
VUAG.L Omega Ratio Rank: 85
VUAG.L Calmar Ratio Rank: 80
VUAG.L Martin Ratio Rank: 79

IB01.L

IB01.L Risk / Return Rank: 100
IB01.L Sharpe Ratio Rank: 100
IB01.L Sortino Ratio Rank: 99
IB01.L Omega Ratio Rank: 99
IB01.L Calmar Ratio Rank: 100
IB01.L Martin Ratio Rank: 100

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.

VUAG.L vs. IB01.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.

	VUAG.L	IB01.L	Difference
Sharpe ratio: Return per unit of total volatility	2.39	0.85	+1.55
Sortino ratio: Return per unit of downside risk	3.22	1.25	+1.97
Omega ratio: Gain probability vs. loss probability	1.45	1.15	+0.30
Calmar ratio: Return relative to maximum drawdown	3.66	1.08	+2.58
Martin ratio: Return relative to average drawdown	13.20	2.94	+10.26

VUAG.L vs. IB01.L - Sharpe Ratio Comparison

The current VUAG.L Sharpe Ratio is 2.39, which is higher than the IB01.L Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of VUAG.L and IB01.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VUAG.L vs. IB01.L - Drawdown Comparison

The maximum VUAG.L drawdown since its inception was -30.82%, which is greater than IB01.L's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for VUAG.L and IB01.L.

Drawdown Indicators

	VUAG.L	IB01.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.82%	-19.26%	-11.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.11%	-5.16%	-1.95%
Max Drawdown (3Y) Largest decline over 3 years	-20.88%	-9.81%	-11.07%
Max Drawdown (5Y) Largest decline over 5 years	-20.88%	-15.94%	-4.94%
Current Drawdown Current decline from peak	-1.82%	-5.87%	+4.05%
Average Drawdown Average peak-to-trough decline	-5.47%	-9.45%	+3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.90%	+0.08%

Volatility

VUAG.L vs. IB01.L - Volatility Comparison

Vanguard S&P 500 UCITS ETF (USD) Accumulating (VUAG.L) has a higher volatility of 3.57% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 1.70%. This indicates that VUAG.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUAG.L	IB01.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	1.70%	+1.87%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	4.90%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	6.61%	+4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	8.46%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	8.80%	+9.08%

VUAG.L vs. IB01.L - Expense Ratio Comparison

Both VUAG.L and IB01.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

VUAG.L vs. IB01.L - Dividend Comparison

Neither VUAG.L nor IB01.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VUAG.L Vanguard S&P 500 UCITS ETF (USD) Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.80%

Frequently Asked Questions

Can I hold both VUAG.L and IB01.L in my portfolio?

VUAG.L and IB01.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VUAG.L or IB01.L?

Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VUAG.L or IB01.L?

VUAG.L and IB01.L have the same expense ratio: 0.07% per year.

What is the main difference between VUAG.L and IB01.L?

VUAG.L is categorized as S&P 500, while IB01.L is Government Bonds. VUAG.L tracks S&P 500 Index, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Vanguard and iShares.