FLGV vs VTG

FLGVBFranklin U.S. Treasury Bond ETF

VTGAVanguard Total Treasury ETF

In short

FLGV Treasuries only, anywhere from 1 to 30 years, in one ticker. Franklin charges 0.09%, under the typical fee in its Treasury peer group, and the income lands monthly.

VTG One ticker for the whole Treasury curve. Vanguard's 2025 answer to the do-it-yourself stack of short, intermediate and long Treasury funds: a single index fund covering the market at three basis points.

Stated mandate

FLGV The Fund seeks income and normally invests at least 80% of net assets in direct U.S. Treasury obligations and related Treasury exposures. It may hold Treasury securities of any maturity, with primary emphasis on remaining maturities from 1 to 30 years.

VTG The fund aims to track the performance of an index representing the broad U.S. Treasury bond market.

Why people hold it

• FLGV One ticker for the whole Treasury curve: at least 80% of net assets in direct U.S. Treasury obligations, with the emphasis on maturities running 1 to 30 years.
• 0.09% a year undercuts the 0.12% median for Treasury funds in its peer group. On government paper, where yields are what they are, the fee is the lever you control.
• Pays monthly, and it is a multi-billion-dollar fund, so the income arrives on a predictable schedule rather than in quarterly lumps.
• Since its 2020 launch it has hewed tightly to its stated Treasury mandate, one of the closer mandate matches in a crowded Treasury peer group.

• VTG Costs 0.03% a year, about a quarter of the typical fee in its Treasury peer group, and it lands in the top tier of that cohort on build quality.
• Does the job of a three-fund short/intermediate/long stack in one holding, tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index across maturities.vanguard.com
• Plain Treasuries only: no credit sleeve, no currency hedge, no active tilts, with income paid out monthly.

Worth knowing

• FLGV Cheaper shelf-mates exist: VGIT and VTG run 0.03%, a third of this fee. You are paying a bit more for Franklin's version of the same government paper.
• Moderately traded rather than one of the tape's busiest Treasury funds, so spreads matter more on large or hurried orders.
• Holdings can stretch out to 30-year maturities, so this carries real interest-rate sensitivity, not the calm of a T-bill fund.

• VTG Whole-curve exposure means long maturities are in the mix, so the share price moves with interest rates more than a short-term Treasury fund would.vanguard.com
• A July 2025 launch, so it is still a small fund that trades lightly next to decade-old Treasury ETFs. Wider bid-ask spreads are the trade-off.
• The index begins at one year to maturity, so T-bills and cash-like exposure sit outside it. Vanguard parks that end of the curve in separate funds such as VGUS.stockanalysis.com

Full FLGV profile⁠

Full VTG profile⁠