- Issuer
- iShares
- Inception Date
- Jun 25, 2025
- Region
- Global ()
- Category
- Global Bonds, Government Bonds, Actively Managed
- Leveraged
- 1x (No leverage)
- Distribution Policy
- Distributing
- Asset Class
- Fixed Income
- Assets Under Management
- $3B
Share Price Chart
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Performance
GGOV Performance Chart
iShares Global Government Bond USD Hedged Active ETF (GGOV) is up 2.7% since the beginning of the year. GGOV is currently trading at $50 per share.
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Returns By Period
iShares Global Government Bond USD Hedged Active ETF
- 1D
- -0.18%
- 1M
- 0.58%
- YTD
- 2.73%
- 6M
- 2.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GGOV Monthly Returns History
Based on dividend-adjusted daily data since Jun 26, 2025, GGOV's average daily return is 0.00%, while the average monthly return is 0.00%.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2026 with a return of +1.2%, while the worst month was Dec 2025 at -3.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 2 months.
On a daily basis, GGOV closed higher 53% of trading days. The best single day was Mar 19, 2026 with a return of +1.0%, while the worst single day was Dec 19, 2025 at -3.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.43% | 0.50% | 0.99% | 1.24% | 0.14% | 0.27% | 2.73% | ||||||
| 2025 | -0.19% | -0.25% | 0.66% | -0.18% | 0.54% | 0.12% | -3.47% | -2.80% |
Benchmark Metrics
iShares Global Government Bond USD Hedged Active ETF has an annualized alpha of -0.46%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 26, 2025.
- This ETF participated in 25.53% of S&P 500 Index downside but only 4.88% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.02 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -0.46%
- Beta
- 0.02
- R²
- 0.00
- Upside Capture
- 4.88%
- Downside Capture
- 25.53%
Expense Ratio
GGOV has an expense ratio of 0.39%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Global Government Bond USD Hedged Active ETF (GGOV) and compare them to S&P 500 Index.
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.
| GGOV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Global Government Bond USD Hedged Active ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Global Government Bond USD Hedged Active ETF was 4.69%, occurring on Jan 20, 2026. The portfolio has not yet recovered.
The current iShares Global Government Bond USD Hedged Active ETF drawdown is 1.08%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -4.69%Jan 2026 | 3mo 5d | — | 8mo 9dOct 2025 - now |
2025 pullback2025 | -0.68%Sep 2025 | 15d | 20d | 1mo 5dSep 2025 - Oct 2025 |
2025 pullback2025 | -0.65%Jul 2025 | 18d | 17d | 1mo 5dJun 2025 - Aug 2025 |
2025 pullback2025 | -0.59%Aug 2025 | 11d | 9d | 20dAug 2025 - Aug 2025 |
2025 pullback2025 | -0.53%Sep 2025 | 4d | 6d | 10dAug 2025 - Sep 2025 |
Drawdown Indicators
| GGOV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -56.78% | +52.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.08% | -1.80% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -10.71% | +9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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