- ISIN
- US46429B2676
- CUSIP
- 46429B267
- Issuer
- iShares
- Inception Date
- Feb 14, 2012
- Region
- North America (U.S.)
- Category
- Government Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- ICE U.S. Treasury Core Bond Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $43B
Share Price Chart
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Performance
GOVT Performance Chart
iShares U.S. Treasury Bond ETF (GOVT) is down 0.0% since the beginning of the year. GOVT is currently trading at $23 per share. Investors who bought $1,000 worth of GOVT shares 5 years ago would now be looking at an investment worth $976.
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Returns By Period
iShares U.S. Treasury Bond ETF (GOVT) has returned -0.02% so far this year and 3.26% over the past 12 months. Over the last ten years, GOVT has returned 0.79% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
iShares U.S. Treasury Bond ETF
- 1D
- -0.29%
- 1M
- 0.45%
- YTD
- -0.02%
- 6M
- 0.07%
- 1Y
- 3.26%
- 3Y*
- 2.88%
- 5Y*
- -0.49%
- 10Y*
- 0.79%
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%
GOVT Monthly Returns History
Based on dividend-adjusted daily data since Feb 24, 2012, GOVT's average daily return is +0.01%, while the average monthly return is +0.11%. At this rate, an investment would double in approximately 52.5 years.
Historically, 50% of months were positive and 50% were negative. The best month was Nov 2023 with a return of +3.5%, while the worst month was Sep 2022 at -3.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, GOVT closed higher 49% of trading days. The best single day was Mar 20, 2020 with a return of +2.3%, while the worst single day was Jan 2, 2025 at -2.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.04% | 1.76% | -1.70% | -0.10% | 0.11% | -0.11% | -0.02% | ||||||
| 2025 | -1.74% | 2.17% | 0.20% | 0.73% | -1.11% | 1.27% | -0.41% | 1.02% | 0.89% | 0.63% | 0.58% | -0.46% | 3.77% |
| 2024 | -0.17% | -1.29% | 0.77% | -2.45% | 1.42% | 0.98% | 2.22% | 1.27% | 1.18% | -2.43% | 0.85% | 0.69% | 2.95% |
| 2023 | 2.68% | -2.28% | 2.93% | 0.44% | -1.09% | -0.80% | -0.30% | -0.51% | -2.27% | -1.19% | 3.49% | 3.24% | 4.17% |
| 2022 | -2.62% | -0.76% | -3.22% | -2.95% | 0.02% | -0.84% | 1.64% | -2.57% | -3.41% | -1.33% | 2.68% | -0.73% | -13.39% |
| 2021 | -0.46% | -1.82% | -1.47% | 0.72% | 0.19% | 0.88% | 1.17% | -0.10% | -1.07% | -0.07% | 0.61% | 0.36% | -1.11% |
Benchmark Metrics
iShares U.S. Treasury Bond ETF has an annualized alpha of 2.07%, beta of -0.05, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since February 24, 2012.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (4.64%) than losses (1.70%) - typical of diversified or defensive assets.
- Beta of -0.05 may look defensive, but with R2 of 0.03 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 0.03 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
- 2.07%
- Beta
- -0.05
- R²
- 0.03
- Upside Capture
- 4.64%
- Downside Capture
- 1.70%
Expense Ratio
GOVT has an expense ratio of 0.05%, which is considered low.
Return for Risk
Risk / Return Rank
GOVT ranks 25 for risk / return — below 25% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) 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.
| GOVT | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 2.78 | -1.64 |
| Martin ratioReturn relative to average drawdown | 3.13 | 12.44 | -9.31 |
Dividends
Dividend History
iShares U.S. Treasury Bond ETF provided a 3.58% dividend yield over the last twelve months, with an annual payout of $0.81 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.81 | $0.80 | $0.72 | $0.61 | $0.40 | $0.25 | $0.59 | $0.51 | $0.49 | $0.39 | $0.35 | $0.31 |
Dividend yield | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares U.S. Treasury Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.07 | $0.06 | $0.07 | $0.07 | $0.07 | $0.34 | ||||||
| 2025 | $0.00 | $0.07 | $0.06 | $0.07 | $0.06 | $0.07 | $0.07 | $0.07 | $0.07 | $0.07 | $0.06 | $0.14 | $0.80 |
| 2024 | $0.00 | $0.05 | $0.05 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.13 | $0.72 |
| 2023 | $0.00 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.05 | $0.06 | $0.12 | $0.61 |
| 2022 | $0.00 | $0.02 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.05 | $0.08 | $0.40 |
| 2021 | $0.00 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.25 |
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 U.S. Treasury Bond 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 U.S. Treasury Bond ETF was 19.07%, occurring on Oct 19, 2023. The portfolio has not yet recovered.
The current iShares U.S. Treasury Bond ETF drawdown is 7.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -19.07%Oct 2023 | 3y 2mo | — | 5y 10moAug 2020 - now |
2016 pullback2016 | -5.87%Dec 2016 | 5mo 7d | 2y 4mo | 2y 10moJul 2016 - May 2019 |
COVID crash2020 | -4.56%Mar 2020 | 8d | 1mo 4d | 1mo 12dMar 2020 - Apr 2020 |
2013 pullback2013 | -4.55%Sep 2013 | 4mo 6d | 1y 1mo | 1y 5moMay 2013 - Oct 2014 |
2015 pullback2015 | -3.54%Jun 2015 | 4mo 8d | 7mo 23d | 12mo 1dFeb 2015 - Jan 2016 |
Drawdown Indicators
| GOVT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -56.78% | +37.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -9.10% | +6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | -18.90% | +13.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -25.43% | +8.83% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | -33.92% | +14.85% |
Current DrawdownCurrent decline from peak | -7.09% | -1.80% | -5.29% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -10.71% | +5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.03% | -0.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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