VUTY.L vs. IBTU.L
VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, VUTY.L returned 0.68%/yr vs 4.62%/yr for IBTU.L. A 0.66 correlation means they provide meaningful diversification when combined. VUTY.L charges 0.05%/yr vs 0.07%/yr for IBTU.L.
Performance
VUTY.L vs. IBTU.L - Performance Comparison
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Different Trading Currencies
VUTY.L is traded in GBP, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUTY.L achieves a 0.19% return, which is significantly lower than IBTU.L's 2.37% return.
VUTY.L
- 1D
- 0.19%
- 1M
- 1.15%
- YTD
- 0.19%
- 6M
- -0.42%
- 1Y
- 4.89%
- 3Y*
- 0.23%
- 5Y*
- 0.68%
- 10Y*
- 1.75%
IBTU.L
- 1D
- 0.63%
- 1M
- 2.10%
- YTD
- 2.37%
- 6M
- 1.70%
- 1Y
- 5.75%
- 3Y*
- 2.23%
- 5Y*
- 4.62%
- 10Y*
- —
VUTY.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 0.19% | -1.14% | 2.53% | -1.95% | -1.84% | -1.13% | 4.01% | 5.40% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 2.37% | -3.10% | 7.15% | -0.33% | 13.06% | 1.04% | -2.08% | 0.40% |
Correlation
The correlation between VUTY.L and IBTU.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2019 | 0.66 |
The correlation between VUTY.L and IBTU.L has been stable across timeframes, ranging from 0.62 to 0.66 - a consistent structural relationship.
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Return for Risk
VUTY.L vs. IBTU.L — Risk / Return Rank
VUTY.L
IBTU.L
VUTY.L vs. IBTU.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 USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 1.14 | -0.21 |
| Martin ratioReturn relative to average drawdown | 2.22 | 3.05 | -0.83 |
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 | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.85 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.55 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.28 | -0.13 |
Drawdowns
VUTY.L vs. IBTU.L - Drawdown Comparison
The maximum VUTY.L drawdown since its inception was -22.66%, which is greater than IBTU.L's maximum drawdown of -19.03%. Use the drawdown chart below to compare losses from any high point for VUTY.L and IBTU.L.
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Drawdown Indicators
| VUTY.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.66% | -19.03% | -3.63% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -5.03% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -9.76% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -15.83% | -0.34% |
Max Drawdown (10Y)Largest decline over 10 years | -22.66% | — | — |
Current DrawdownCurrent decline from peak | -17.58% | -5.49% | -12.09% |
Average DrawdownAverage peak-to-trough decline | -12.63% | -9.25% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.88% | +0.32% |
Volatility
VUTY.L vs. IBTU.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) is 1.41%, while iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) has a volatility of 1.82%. This indicates that VUTY.L experiences smaller price fluctuations and is considered to be less risky than IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.82% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 5.03% | -0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 6.74% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 8.47% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.99% | 8.75% | +1.24% |
VUTY.L vs. IBTU.L - Expense Ratio Comparison
VUTY.L has a 0.05% expense ratio, which is lower than IBTU.L's 0.07% 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. IBTU.L - Dividend Comparison
VUTY.L's dividend yield for the trailing twelve months is around 4.26%, more than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.26% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% |
Frequently Asked Questions
VUTY.L and IBTU.L have a correlation of 0.63, 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 0.07% for IBTU.L.
VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VUTY.L and 0.07% for IBTU.L.
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