VUTY.L vs. IBGM.L
VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) and IBGM.L (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both exchange-traded funds - VUTY.L is a Government Bonds fund tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index, while IBGM.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, VUTY.L returned 1.68%/yr vs 31.18%/yr for IBGM.L. A 0.59 correlation means they provide meaningful diversification when combined. VUTY.L charges 0.05%/yr vs 0.15%/yr for IBGM.L.
Performance
VUTY.L vs. IBGM.L - Performance Comparison
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Returns By Period
In the year-to-date period, VUTY.L achieves a -0.16% return, which is significantly higher than IBGM.L's -2.35% return. Over the past 10 years, VUTY.L has underperformed IBGM.L with an annualized return of 1.68%, while IBGM.L has yielded a comparatively higher 31.18% annualized return.
VUTY.L
- 1D
- 0.07%
- 1M
- 0.78%
- YTD
- -0.16%
- 6M
- -0.78%
- 1Y
- 4.55%
- 3Y*
- 0.23%
- 5Y*
- 0.61%
- 10Y*
- 1.68%
IBGM.L
- 1D
- 0.20%
- 1M
- -1.36%
- YTD
- -2.35%
- 6M
- -2.29%
- 1Y
- 0.51%
- 3Y*
- 1.73%
- 5Y*
- 39.50%
- 10Y*
- 31.18%
VUTY.L vs. IBGM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | -0.16% | -1.13% | 2.55% | -1.94% | -1.87% | -1.11% | 3.99% | 3.70% | 6.64% | -6.82% |
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -2.35% | 5.38% | -3.53% | 465.78% | -3.14% | -9.55% | 20.87% | 117.65% | 2.05% | 4.56% |
Correlation
The correlation between VUTY.L and IBGM.L 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 | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.59 |
Over the past year, the correlation between VUTY.L and IBGM.L has dropped to 0.32 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
VUTY.L vs. IBGM.L — Risk / Return Rank
VUTY.L
IBGM.L
VUTY.L vs. IBGM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.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.
| VUTY.L | IBGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.01 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.00 | +0.83 |
| Martin ratioReturn relative to average drawdown | 1.98 | 0.01 | +1.98 |
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
| VUTY.L | IBGM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.00 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.20 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.22 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.21 | -0.09 |
Drawdowns
VUTY.L vs. IBGM.L - Drawdown Comparison
The maximum VUTY.L drawdown since its inception was -22.63%, smaller than the maximum IBGM.L drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for VUTY.L and IBGM.L.
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Drawdown Indicators
| VUTY.L | IBGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.63% | -26.66% | +4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -6.20% | +0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -8.27% | -6.85% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -21.27% | +5.10% |
Max Drawdown (10Y)Largest decline over 10 years | -22.63% | -26.66% | +4.03% |
Current DrawdownCurrent decline from peak | -17.85% | -5.51% | -12.34% |
Average DrawdownAverage peak-to-trough decline | -12.63% | -4.98% | -7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.84% | -0.64% |
Volatility
VUTY.L vs. IBGM.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) is 1.43%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBGM.L) has a volatility of 2.59%. This indicates that VUTY.L experiences smaller price fluctuations and is considered to be less risky than IBGM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUTY.L | IBGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 2.59% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 4.94% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 6.31% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 193.47% | -184.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.00% | 138.63% | -128.63% |
VUTY.L vs. IBGM.L - Expense Ratio Comparison
VUTY.L has a 0.05% expense ratio, which is lower than IBGM.L'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
VUTY.L vs. IBGM.L - Dividend Comparison
VUTY.L's dividend yield for the trailing twelve months is around 4.27%, while IBGM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGM.L iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.00% | 1.33% | 2.78% | 79.03% | 13.18% | 0.00% | 8.74% | 63.75% | 0.74% | 0.74% | 0.77% | 1.07% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.27% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% | 0.00% |
Frequently Asked Questions
VUTY.L and IBGM.L 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.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L is cheaper with a 0.05% expense ratio, compared with 0.15% for IBGM.L.
VUTY.L is categorized as Government Bonds, while IBGM.L is European Government Bonds. VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while IBGM.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VUTY.L and 0.15% for IBGM.L.
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