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 0.54 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 0.40% return, which is significantly lower than GGOV's 2.75% return.
AGZ
- 1D
- 0.12%
- 1M
- 0.36%
- YTD
- 0.40%
- 6M
- 0.50%
- 1Y
- 3.50%
- 3Y*
- 4.20%
- 5Y*
- 1.22%
- 10Y*
- 1.80%
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AGZ vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AGZ iShares Agency Bond ETF | 0.40% | 2.92% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
Correlation
The correlation between AGZ and GGOV is 0.54, 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 26, 2025 | 0.54 |
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Return for Risk
AGZ vs. GGOV — Risk / Return Rank
AGZ
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| AGZ | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | — | — |
| Martin ratioReturn relative to average drawdown | 8.16 | — | — |
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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 | -0.55% | -1.06% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -1.57% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | — | — |
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 | 0.67% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.55% | 5.28% | -2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.55% | 5.28% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.03% | 5.28% | -2.25% |
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 3.72%, 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 | 3.72% | 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 0.54, 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 3.72%, 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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