VUTY.L vs. VEVE.L
VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) and VEVE.L (Vanguard FTSE Developed World UCITS ETF Distributing) are both exchange-traded funds - VUTY.L is a Government Bonds fund tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index, while VEVE.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, VUTY.L returned 1.35%/yr vs 14.06%/yr for VEVE.L. At a 0.14 correlation, their price movements are largely independent. VUTY.L charges 0.05%/yr vs 0.12%/yr for VEVE.L.
Performance
VUTY.L vs. VEVE.L - Performance Comparison
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Returns By Period
In the year-to-date period, VUTY.L achieves a 0.19% return, which is significantly lower than VEVE.L's 10.77% return. Over the past 10 years, VUTY.L has underperformed VEVE.L with an annualized return of 1.35%, while VEVE.L has yielded a comparatively higher 14.06% annualized return.
VUTY.L
- 1D
- -0.31%
- 1M
- 0.71%
- YTD
- 0.19%
- 6M
- -0.05%
- 1Y
- 4.95%
- 3Y*
- 0.88%
- 5Y*
- 0.50%
- 10Y*
- 1.35%
VEVE.L
- 1D
- 1.79%
- 1M
- 0.63%
- YTD
- 10.77%
- 6M
- 11.37%
- 1Y
- 28.30%
- 3Y*
- 17.81%
- 5Y*
- 12.89%
- 10Y*
- 14.06%
VUTY.L vs. VEVE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 0.19% | -1.14% | 2.53% | -1.95% | -1.84% | -1.13% | 4.01% | 3.66% | 6.64% | -6.80% |
VEVE.L Vanguard FTSE Developed World UCITS ETF Distributing | 10.77% | 13.81% | 20.22% | 17.46% | -8.34% | 22.68% | 12.44% | 22.89% | -4.39% | 12.62% |
Correlation
The correlation between VUTY.L and VEVE.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.14 |
The correlation between VUTY.L and VEVE.L shifts across timeframes, from -0.00 (5 years) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VUTY.L vs. VEVE.L — Risk / Return Rank
VUTY.L
VEVE.L
VUTY.L vs. VEVE.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 Vanguard FTSE Developed World UCITS ETF Distributing (VEVE.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.
| VUTY.L | VEVE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.49 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 3.96 | -3.06 |
| Martin ratioReturn relative to average drawdown | 2.13 | 15.94 | -13.81 |
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Drawdowns
VUTY.L vs. VEVE.L - Drawdown Comparison
The maximum VUTY.L drawdown since its inception was -22.66%, smaller than the maximum VEVE.L drawdown of -25.53%. Use the drawdown chart below to compare losses from any high point for VUTY.L and VEVE.L.
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Drawdown Indicators
| VUTY.L | VEVE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.66% | -25.53% | +2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -6.94% | +1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -18.34% | +10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -16.17% | -18.34% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -22.66% | -25.53% | +2.87% |
Current DrawdownCurrent decline from peak | -17.58% | -1.32% | -16.26% |
Average DrawdownAverage peak-to-trough decline | -12.63% | -3.41% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 1.73% | +0.50% |
Volatility
VUTY.L vs. VEVE.L - Volatility Comparison
The current volatility for Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) is 1.35%, while Vanguard FTSE Developed World UCITS ETF Distributing (VEVE.L) has a volatility of 3.53%. This indicates that VUTY.L experiences smaller price fluctuations and is considered to be less risky than VEVE.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 | VEVE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 3.53% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 7.96% | -3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.92% | 10.64% | -4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 13.14% | -4.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.98% | 14.35% | -4.37% |
VUTY.L vs. VEVE.L - Expense Ratio Comparison
VUTY.L has a 0.05% expense ratio, which is lower than VEVE.L's 0.12% 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. VEVE.L - Dividend Comparison
VUTY.L's dividend yield for the trailing twelve months is around 4.26%, more than VEVE.L's 1.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VEVE.L Vanguard FTSE Developed World UCITS ETF Distributing | 1.24% | 1.38% | 1.48% | 1.71% | 1.98% | 1.46% | 1.62% | 1.95% | 2.24% | 1.93% | 1.88% | 2.03% |
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% | 0.00% |
Frequently Asked Questions
VUTY.L and VEVE.L have a correlation of 0.11, 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 0.12% for VEVE.L.
VUTY.L is categorized as Government Bonds, while VEVE.L is Global Equities. VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while VEVE.L tracks MSCI ACWI NR USD. Their fees differ too: 0.05% for VUTY.L and 0.12% for VEVE.L.
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