BREM vs. GGOV

Last updated Jun 5, 2026

BREM (iShares Emerging Markets Bond Active ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - BREM is a Emerging Markets Bonds fund actively managed by BlackRock, while GGOV is a Global Bonds fund managed by iShares. At a 0.22 correlation, their price movements are largely independent. BREM charges 0.50%/yr vs 0.39%/yr for GGOV.

Performance

BREM vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Bond Active ETF (BREM) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BREM achieves a 3.36% return, which is significantly higher than GGOV's 2.16% return.

BREM

• 1D: 0.10%
• 1M: 0.99%
• YTD: 3.36%
• 6M: 4.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.14%
• 1M: -0.11%
• YTD: 2.16%
• 6M: -1.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BREM vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
BREM iShares Emerging Markets Bond Active ETF	3.36%	2.74%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.16%	-3.72%

Correlation

The correlation between BREM and GGOV is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 17, 2025	0.22

Return for Risk

BREM vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Bond Active ETF (BREM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BREM	GGOV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	-0.14	+1.92

Drawdowns

BREM vs. GGOV - Drawdown Comparison

The maximum BREM drawdown since its inception was -4.54%, roughly equal to the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for BREM and GGOV.

Drawdown Indicators

	BREM	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-4.54%	-4.69%	+0.15%
Current Drawdown Current decline from peak	-0.11%	-1.64%	+1.53%
Average Drawdown Average peak-to-trough decline	-0.66%	-1.59%	+0.93%

Volatility

Volatility by Period

	BREM	GGOV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.69%	5.37%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.69%	5.37%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	5.37%	+0.32%

BREM vs. GGOV - Expense Ratio Comparison

BREM has a 0.50% expense ratio, which is higher than GGOV's 0.39% expense ratio.

Dividends

BREM vs. GGOV - Dividend Comparison

BREM's dividend yield for the trailing twelve months is around 3.90%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025
BREM iShares Emerging Markets Bond Active ETF	3.90%	1.19%
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BREM and GGOV in my portfolio?

BREM and GGOV have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BREM or GGOV?

On fees, GGOV is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BREM or GGOV?

GGOV is cheaper with a 0.39% expense ratio, compared with 0.50% for BREM.

Which ETF pays a higher dividend yield, BREM or GGOV?

BREM has the higher dividend yield at 3.90%, compared with 0.00% for GGOV.

What is the main difference between BREM and GGOV?

BREM is categorized as Emerging Markets Bonds, while GGOV is Global Bonds. They also come from different issuers: BlackRock and iShares. Their fees differ too: 0.50% for BREM and 0.39% for GGOV.