CGIB vs. GGOV

Last updated Jul 17, 2026

CGIB (Capital Group International Bond ETF (USD-Hedged)) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. Over the past year, CGIB returned 2.52% vs 0.02% for GGOV. At a 0.40 correlation, their price movements are largely independent. CGIB charges 0.45%/yr vs 0.39%/yr for GGOV.

Performance

CGIB vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group International Bond ETF (USD-Hedged) (CGIB) 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, CGIB achieves a 0.75% return, which is significantly lower than GGOV's 2.47% return.

CGIB

• 1D: -0.24%
• 1M: -0.61%
• 6M: 0.16%
• YTD: 0.75%
• 1Y: 2.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.18%
• 1M: -0.40%
• 6M: 3.01%
• YTD: 2.47%
• 1Y: 0.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGIB vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
CGIB Capital Group International Bond ETF (USD-Hedged)	0.75%	1.80%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.47%	-2.80%

Correlation

The correlation between CGIB and GGOV is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.40

Return for Risk

CGIB vs. GGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CGIB

CGIB Risk / Return Rank: 22
CGIB Sharpe Ratio Rank: 22
CGIB Sortino Ratio Rank: 20
CGIB Omega Ratio Rank: 20
CGIB Calmar Ratio Rank: 24
CGIB Martin Ratio Rank: 24

GGOV

GGOV Risk / Return Rank: 9
GGOV Sharpe Ratio Rank: 10
GGOV Sortino Ratio Rank: 8
GGOV Omega Ratio Rank: 8
GGOV Calmar Ratio Rank: 10
GGOV Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGIB vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group International Bond ETF (USD-Hedged) (CGIB) 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.

	CGIB	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	0.62	0.00	+0.62
Sortino ratio: Return per unit of downside risk	0.93	0.04	+0.90
Omega ratio: Gain probability vs. loss probability	1.12	1.01	+0.11
Calmar ratio: Return relative to maximum drawdown	0.94	0.00	+0.94
Martin ratio: Return relative to average drawdown	2.37	0.01	+2.36

CGIB vs. GGOV - Sharpe Ratio Comparison

The current CGIB Sharpe Ratio is 0.62, which is higher than the GGOV Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of CGIB and GGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CGIB vs. GGOV - Drawdown Comparison

The maximum CGIB drawdown since its inception was -2.68%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for CGIB and GGOV.

Drawdown Indicators

	CGIB	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-2.68%	-4.69%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-4.69%	+2.01%
Current Drawdown Current decline from peak	-0.85%	-1.34%	+0.49%
Average Drawdown Average peak-to-trough decline	-0.70%	-1.54%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	2.12%	-1.05%

Volatility

CGIB vs. GGOV - Volatility Comparison

Capital Group International Bond ETF (USD-Hedged) (CGIB) has a higher volatility of 1.08% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.88%. This indicates that CGIB's price experiences larger fluctuations and is considered to be riskier than GGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CGIB	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.88%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	3.11%	3.62%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.09%	5.29%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	5.18%	-1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	5.18%	-1.42%

CGIB vs. GGOV - Expense Ratio Comparison

CGIB has a 0.45% expense ratio, which is higher than GGOV's 0.39% expense ratio.

Dividends

CGIB vs. GGOV - Dividend Comparison

CGIB's dividend yield for the trailing twelve months is around 1.45%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024
CGIB Capital Group International Bond ETF (USD-Hedged)	1.45%	4.26%	1.65%
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGIB and GGOV in my portfolio?

CGIB and GGOV have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CGIB or GGOV?

CGIB has higher volatility (1.08%) compared to GGOV (0.88%). In terms of maximum drawdown, CGIB dropped -2.68% vs GGOV's -4.69%.

Which ETF is better, CGIB or GGOV?

On 1-year performance, CGIB leads with 2.52% vs 0.02% for GGOV. On fees, GGOV is cheaper at 0.39% per year. On volatility, GGOV has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CGIB or GGOV?

Over the 1-year period, CGIB has performed better with a 2.52% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CGIB or GGOV?

GGOV is cheaper with a 0.39% expense ratio, compared with 0.45% for CGIB.

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

CGIB has the higher dividend yield at 1.45%, compared with 0.00% for GGOV.

What is the main difference between CGIB and GGOV?

They also come from different issuers: Capital Group and iShares. Their fees differ too: 0.45% for CGIB and 0.39% for GGOV.

Which has better risk-adjusted returns?

CGIB currently has the higher Sharpe Ratio (0.62 vs 0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.