GOVI vs VTG

GOVIBInvesco Equal Weight 0-30 Year Treasury ETF

VTGAVanguard Total Treasury ETF

In short

GOVI Most Treasury funds hold whatever the government issues most. GOVI builds a ladder instead: about 30 Treasuries, one maturing each February out to 30 years, each held in equal size.

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

GOVI The fund tracks an index of up to 30 U.S. Treasury notes or bonds arranged in an annual February maturity ladder spanning the yield curve.

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

Why people hold it

• GOVI Equal weighting means the ladder sets the curve exposure, not Treasury issuance patterns. Short, intermediate and long rungs each get the same slice.invesco.com
• The February maturity schedule is the whole design: a rung comes due each year and the ladder is rebuilt to span 0-30 years again rather than aging shorter.invesco.com
• Straight U.S. Treasury notes and bonds, no corporate or mortgage credit mixed in, and it pays monthly. Launched in 2007, so it has run through several rate regimes.
• It follows its ICE laddered Treasury index closely, which is what you want from a rules-based bond portfolio.

• 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

• GOVI At 0.15% it is the priciest of its broad Treasury peers. SPTB charges 0.03% and GOVT 0.05% for cap-weighted exposure to the same government paper.
• Equal weight puts as much in a 30-year bond as in a 1-year note, so the portfolio carries more interest-rate sensitivity than a market-weighted Treasury fund.
• About 30 bonds on a fixed calendar is a deliberate slice of the curve, not the whole Treasury market. Trades moderately, so limit orders are the sensible habit.

• 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 GOVI profile⁠

Full VTG profile⁠