VUTA.L vs. TR7G.L
VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) and TR7G.L (Invesco US Treasury Bond 3-7 Year UCITS ETF Dist) are both Government Bonds funds - VUTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while TR7G.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, VUTA.L returned 0.65%/yr vs 1.44%/yr for TR7G.L. With a 0.96 correlation, they move nearly in lockstep. VUTA.L charges 0.05%/yr vs 0.06%/yr for TR7G.L.
Performance
VUTA.L vs. TR7G.L - Performance Comparison
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Different Trading Currencies
VUTA.L is traded in GBP, while TR7G.L is traded in GBp. To make them comparable, the TR7G.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUTA.L achieves a 0.03% return, which is significantly higher than TR7G.L's -0.28% return.
VUTA.L
- 1D
- 0.21%
- 1M
- 1.16%
- YTD
- 0.03%
- 6M
- -0.52%
- 1Y
- 4.50%
- 3Y*
- 0.21%
- 5Y*
- 0.65%
- 10Y*
- —
TR7G.L
- 1D
- 0.19%
- 1M
- 0.89%
- YTD
- -0.28%
- 6M
- -0.71%
- 1Y
- 4.21%
- 3Y*
- 1.00%
- 5Y*
- 1.44%
- 10Y*
- —
VUTA.L vs. TR7G.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.03% | -1.12% | 2.50% | -1.89% | -1.88% | -1.09% | 3.97% | 5.44% |
TR7G.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | -0.28% | -0.02% | 3.75% | -1.47% | 1.43% | -1.10% | 3.37% | 4.40% |
Correlation
The correlation between VUTA.L and TR7G.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.96 |
The correlation between VUTA.L and TR7G.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
VUTA.L vs. TR7G.L — Risk / Return Rank
VUTA.L
TR7G.L
VUTA.L vs. TR7G.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) and Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TR7G.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.
| VUTA.L | TR7G.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.82 | +0.04 |
| Martin ratioReturn relative to average drawdown | 2.08 | 2.02 | +0.06 |
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
| VUTA.L | TR7G.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.71 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.17 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.14 | -0.05 |
Drawdowns
VUTA.L vs. TR7G.L - Drawdown Comparison
The maximum VUTA.L drawdown since its inception was -23.40%, which is greater than TR7G.L's maximum drawdown of -20.51%. Use the drawdown chart below to compare losses from any high point for VUTA.L and TR7G.L.
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Drawdown Indicators
| VUTA.L | TR7G.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -20.51% | -2.89% |
Max Drawdown (1Y)Largest decline over 1 year | -5.21% | -5.09% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -8.20% | -7.34% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -15.64% | -0.53% |
Current DrawdownCurrent decline from peak | -18.49% | -13.27% | -5.22% |
Average DrawdownAverage peak-to-trough decline | -15.38% | -12.82% | -2.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.08% | +0.08% |
Volatility
VUTA.L vs. TR7G.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) is 1.39%, while Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TR7G.L) has a volatility of 1.56%. This indicates that VUTA.L experiences smaller price fluctuations and is considered to be less risky than TR7G.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUTA.L | TR7G.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.56% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.40% | 4.33% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 5.90% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.70% | 8.27% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.39% | 8.90% | +0.49% |
VUTA.L vs. TR7G.L - Expense Ratio Comparison
VUTA.L has a 0.05% expense ratio, which is lower than TR7G.L's 0.06% 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
VUTA.L vs. TR7G.L - Dividend Comparison
VUTA.L has not paid dividends to shareholders, while TR7G.L's dividend yield for the trailing twelve months is around 4.12%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TR7G.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | 4.12% | 4.11% | 4.14% | 3.67% | 1.71% | 0.85% | 1.38% | 1.94% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, VUTA.L and TR7G.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.06% for TR7G.L.
VUTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TR7G.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for VUTA.L and 0.06% for TR7G.L.
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