Average Daily Volume
2.71M
Fund Overview
The Vanguard Long-Term Treasury ETF (VGLT) provides investors with exposure to long-term U.S. Treasury bonds. The fund seeks to track the performance of the Bloomberg U.S. Long Treasury Index, which includes fixed-rate, nominal U.S. Treasury securities with maturities greater than 10 years. VGLT offers a low-cost way to invest in long-duration government debt, which is often used for portfolio diversification, income generation, and hedging against economic downturns. The ETF is passively managed, reflecting Vanguard's commitment to low fees and broad market exposure. With its focus on U.S. Treasury securities, VGLT is considered one of the safest fixed-income investments, backed by the full faith and credit of the U.S. government.
- Asset Class
-
Bond
- Industry
-
Treasury Bonds
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 4.73 %
- Currency Hedged
-
No
- Portfolio Turnover
-
21 %
- Dividend Date
-
Why Invest in the VGLT ETF?
Potential Benefits
- Provides exposure to long-term U.S. Treasury bonds, which are considered among the safest fixed-income investments.
- Low expense ratio (0.04% as of 2025), making it cost-effective for long-term investors.
- Offers diversification benefits and can act as a hedge against equity market volatility.
- Generates steady income through semi-annual interest payments from Treasury bonds.
- Highly liquid, with tight bid-ask spreads due to the underlying Treasury market's depth.
Potential Risks
- Interest rate risk: Long-duration bonds are highly sensitive to rising interest rates, which can lead to significant price declines.
- Inflation risk: Fixed coupon payments may lose purchasing power if inflation rises unexpectedly.
- Lower yield compared to corporate or high-yield bonds, potentially limiting income potential.
- Duration risk: Longer maturities amplify price volatility in response to interest rate changes.
- Opportunity cost: In strong equity markets, long-term Treasuries may underperform riskier assets.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
-0.1%
|
+4.2%
|
-4.0%
|
-0.7%
|
+0.5%
|
+1.0%
|
-4.0%
|
+0.8%
|
-5.0%
|
-0.3%
|
-
|
-
|
| 2025 |
+0.6%
|
+5.1%
|
-0.9%
|
-1.0%
|
-2.9%
|
+2.5%
|
-0.9%
|
+0.3%
|
+3.1%
|
+1.3%
|
+0.4%
|
-2.1%
|
| 2024 |
-1.8%
|
-2.3%
|
+1.0%
|
-5.9%
|
+2.8%
|
+1.7%
|
+3.5%
|
+2.0%
|
+2.1%
|
-5.2%
|
+1.9%
|
-5.5%
|
| 2023 |
+7.1%
|
-4.7%
|
+4.7%
|
+0.5%
|
-2.8%
|
0.0%
|
-2.2%
|
-2.8%
|
-7.3%
|
-4.9%
|
+9.1%
|
+8.2%
|
| 2022 |
-3.7%
|
-1.7%
|
-4.8%
|
-9.2%
|
-2.0%
|
-1.4%
|
+2.6%
|
-4.5%
|
-7.9%
|
-5.2%
|
+6.7%
|
-2.3%
|
| 2021 |
-3.5%
|
-5.6%
|
-4.9%
|
+2.3%
|
-0.1%
|
+4.2%
|
+3.7%
|
-0.3%
|
-2.8%
|
+1.9%
|
+2.6%
|
-1.9%
|
| 2020 |
+7.3%
|
+6.6%
|
+6.4%
|
+1.0%
|
-1.7%
|
+0.3%
|
+4.2%
|
-4.8%
|
+0.8%
|
-3.3%
|
+1.5%
|
-1.2%
|
| 2019 |
+0.5%
|
-1.3%
|
+5.4%
|
-1.9%
|
+6.7%
|
+1.0%
|
+0.3%
|
+10.6%
|
-2.6%
|
-1.1%
|
-0.4%
|
-2.9%
|
| 2018 |
-3.2%
|
-3.0%
|
+2.9%
|
-2.0%
|
+1.9%
|
+0.6%
|
-1.4%
|
+1.3%
|
-2.8%
|
-2.8%
|
+1.8%
|
+5.6%
|
| 2017 |
+0.6%
|
+1.6%
|
-0.6%
|
+1.6%
|
+1.8%
|
+0.7%
|
-0.6%
|
+3.3%
|
-2.2%
|
-0.1%
|
+0.7%
|
+1.7%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: VGLT vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
VGLT employs a passive investment strategy designed to track the Bloomberg U.S. Long Treasury Index. This market-cap-weighted index includes U.S. Treasury bonds with remaining maturities greater than 10 years. The fund holds a sampling of securities from the index to achieve similar risk and return characteristics. VGLT maintains a dollar-weighted average maturity consistent with its benchmark, currently around 20-25 years. The portfolio is rebalanced monthly to align with index changes from bond issuance, maturities, and reconstitutions. Unlike some competitors that use sampling techniques or derivatives, VGLT aims for full physical replication of its index constituents when practical.
Frequently Asked Questions
What is the average duration of VGLT's holdings?
VGLT typically maintains an average duration between 20-25 years, reflecting its focus on long-term Treasury bonds with maturities exceeding 10 years.
How often does VGLT pay dividends?
VGLT distributes income to shareholders monthly, derived from the semi-annual coupon payments of its underlying Treasury holdings.
Is VGLT a good hedge against stock market declines?
Yes, long-term Treasuries like those held in VGLT often appreciate during equity market stress as investors seek safe-haven assets, though this relationship can vary depending on interest rate environments.
How does VGLT compare to short-term Treasury ETFs?
VGLT offers greater interest rate sensitivity and typically higher yield than short-term Treasury ETFs, but with significantly more price volatility in response to rate changes.
Does VGLT hold Treasury Inflation-Protected Securities (TIPS)?
No, VGLT invests exclusively in nominal (non-inflation-adjusted) U.S. Treasury bonds. Investors seeking inflation protection might consider Vanguard's VTIP or SCHP ETFs.
Industry Overview
The Vanguard Long-Term Treasury ETF (VGLT) operates within the U.S. Treasury bond market, a cornerstone of global fixed-income investing. U.S. Treasuries are widely regarded as risk-free assets, serving as benchmarks for other debt instruments and playing critical roles in institutional portfolios. Long-term Treasury ETFs like VGLT appeal to investors seeking duration exposure, inflation hedging characteristics, and portfolio stability during market stress. The long-term Treasury market is particularly sensitive to macroeconomic trends, Federal Reserve policy, and inflation expectations, making these instruments valuable for strategic asset allocation. VGLT provides efficient access to this market segment with Vanguard's trademark low-cost structure.
Alternative Comparison
Compared to iShares 20+ Year Treasury Bond ETF (TLT), VGLT offers a nearly identical duration profile but with a lower expense ratio (0.04% vs 0.15%). SPDR Portfolio Long Term Treasury ETF (SPTL) similarly tracks a long-term Treasury index but with a slightly different benchmark construction. VGLT distinguishes itself through Vanguard's unique mutual ownership structure, which may result in better long-term value for shareholders. Unlike zero-coupon Treasury ETFs like EDV, VGLT provides regular coupon payments. GOVZ offers pure 25+ year duration exposure, while VGLT maintains a broader maturity range above 10 years, resulting in slightly less duration risk.
Issuer Overview
Vanguard is one of the world's largest investment management companies, known for pioneering index investing and maintaining a client-owned structure that aligns with investor interests. With over $7 trillion in global assets under management (as of 2025), Vanguard has built its reputation on low-cost, transparent investment products. The company's ETF lineup emphasizes broad market exposure, tax efficiency, and investor education. Vanguard's fixed-income ETFs, including VGLT, benefit from the firm's massive scale, which allows for tight tracking of underlying indices and operational efficiencies that translate to lower costs for shareholders.
Conclusion
VGLT represents a core holding for investors seeking long-duration U.S. Treasury exposure with Vanguard's characteristic low costs and efficiency. The ETF serves well in diversified portfolios as a ballast against equity volatility and a play on declining interest rates. While offering lower yields than credit risk bonds, VGLT provides unmatched safety of principal among fixed-income options. Investors should carefully consider their interest rate outlook and investment horizon before allocating to this long-duration product, as price volatility can be substantial during periods of rising rates. For those with appropriate risk tolerance and strategic objectives, VGLT offers a straightforward, cost-effective way to access the long end of the Treasury curve.
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