AGZ vs. GGOV
AGZ (iShares Agency Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - AGZ is a Government Bonds fund tracking the Bloomberg U.S. Agency Bond Index (USD), while GGOV is a Global Bonds fund managed by iShares. A 0.53 correlation means they provide meaningful diversification when combined. AGZ charges 0.20%/yr vs 0.39%/yr for GGOV.
Performance
AGZ vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, AGZ achieves a 0.16% return, which is significantly lower than GGOV's 2.30% return.
AGZ
- 1D
- -0.13%
- 1M
- -0.03%
- YTD
- 0.16%
- 6M
- 0.29%
- 1Y
- 3.95%
- 3Y*
- 4.10%
- 5Y*
- 1.15%
- 10Y*
- 1.83%
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AGZ vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AGZ iShares Agency Bond ETF | 0.16% | 2.73% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between AGZ and GGOV is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025 | 0.53 |
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Return for Risk
AGZ vs. GGOV — Risk / Return Rank
AGZ
GGOV
AGZ vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Agency Bond ETF (AGZ) and iShares Global Government Bond USD Hedged Active ETF (GGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AGZ | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.28 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | — | — |
| Martin ratioReturn relative to average drawdown | 9.76 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGZ | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | -0.11 | +0.80 |
Drawdowns
AGZ vs. GGOV - Drawdown Comparison
The maximum AGZ drawdown since its inception was -11.01%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for AGZ and GGOV.
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Drawdown Indicators
| AGZ | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.01% | -4.69% | -6.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -11.01% | — | — |
Current DrawdownCurrent decline from peak | -0.78% | -1.50% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -1.59% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | — | — |
Volatility
AGZ vs. GGOV - Volatility Comparison
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Volatility by Period
| AGZ | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.93% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.58% | 5.38% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.54% | 5.38% | -1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 5.38% | -2.35% |
AGZ vs. GGOV - Expense Ratio Comparison
AGZ has a 0.20% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
AGZ vs. GGOV - Dividend Comparison
AGZ's dividend yield for the trailing twelve months is around 3.73%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZ iShares Agency Bond ETF | 3.73% | 3.75% | 3.48% | 3.14% | 1.56% | 0.96% | 2.25% | 2.32% | 2.15% | 1.58% | 1.52% | 1.30% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGZ and GGOV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AGZ is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AGZ is cheaper with a 0.20% expense ratio, compared with 0.39% for GGOV.
AGZ has the higher dividend yield at 3.73%, compared with 0.00% for GGOV.
AGZ is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.20% for AGZ and 0.39% for GGOV.
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