VUTY.L vs. TRS5.L
VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, VUTY.L returned 1.68%/yr vs 1.58%/yr for TRS5.L. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
VUTY.L vs. TRS5.L - Performance Comparison
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Different Trading Currencies
VUTY.L is traded in GBP, while TRS5.L is traded in USD. To make them comparable, the TRS5.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 -0.16% return, which is significantly lower than TRS5.L's 0.01% return. Over the past 10 years, VUTY.L has outperformed TRS5.L with an annualized return of 1.68%, while TRS5.L has yielded a comparatively lower 1.58% 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%
TRS5.L
- 1D
- 0.18%
- 1M
- 0.81%
- YTD
- 0.01%
- 6M
- -0.78%
- 1Y
- 4.24%
- 3Y*
- 1.06%
- 5Y*
- 1.39%
- 10Y*
- 1.58%
VUTY.L vs. TRS5.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% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.02% | -0.38% | 3.81% | -1.04% | 1.28% | -1.52% | 3.66% | 0.33% | 5.44% | -9.03% |
Correlation
The correlation between VUTY.L and TRS5.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.81 |
The correlation between VUTY.L and TRS5.L has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
VUTY.L vs. TRS5.L — Risk / Return Rank
VUTY.L
TRS5.L
VUTY.L vs. TRS5.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 SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.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 | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.75 | +0.08 |
| Martin ratioReturn relative to average drawdown | 1.98 | 2.01 | -0.03 |
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 | TRS5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 0.66 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.16 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.16 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.14 | -0.01 |
Drawdowns
VUTY.L vs. TRS5.L - Drawdown Comparison
The maximum VUTY.L drawdown since its inception was -22.63%, which is greater than TRS5.L's maximum drawdown of -20.46%. Use the drawdown chart below to compare losses from any high point for VUTY.L and TRS5.L.
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Drawdown Indicators
| VUTY.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.63% | -20.46% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -5.61% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -8.27% | -7.60% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -16.11% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -22.63% | -20.46% | -2.17% |
Current DrawdownCurrent decline from peak | -17.85% | -13.12% | -4.73% |
Average DrawdownAverage peak-to-trough decline | -12.63% | -11.64% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.11% | +0.09% |
Volatility
VUTY.L vs. TRS5.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) is 1.43%, while SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) has a volatility of 1.73%. This indicates that VUTY.L experiences smaller price fluctuations and is considered to be less risky than TRS5.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 | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.73% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.09% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 6.41% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 8.56% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.00% | 9.77% | +0.23% |
VUTY.L vs. TRS5.L - Expense Ratio Comparison
Both VUTY.L and TRS5.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VUTY.L vs. TRS5.L - Dividend Comparison
VUTY.L's dividend yield for the trailing twelve months is around 4.27%, more than TRS5.L's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.93% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 1.09% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
VUTY.L and TRS5.L have a correlation of 0.76, 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 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L and TRS5.L have the same expense ratio: 0.05% per year.
VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: Vanguard and State Street.
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