Although the Vasicek model can explain a large fraction of term structure dynamics with merely one factor, it only has some limited uses for practitioners because the model structure is complex.

The Vasicek model might be used to conduct relative-value trading, while the Gauss+ model is inappropriate for this purpose. However, both models can be thought of as a tool for hedging.

Although the Gauss+ model captures the empirical complexity of the term structure dynamics, its concepts and assumptions are not intuitive and the model tractability is severely harmed.