DFGP vs. GGOV

Last updated Jul 14, 2026

DFGP (Dimensional Global Core Plus Fixed Income ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. Over the past year, DFGP returned 4.10% vs 0.14% for GGOV. A 0.59 correlation means they provide meaningful diversification when combined. DFGP charges 0.22%/yr vs 0.39%/yr for GGOV.

Performance

DFGP vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Core Plus Fixed Income ETF (DFGP) 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, DFGP achieves a 0.93% return, which is significantly lower than GGOV's 2.36% return.

DFGP

• 1D: -0.48%
• 1M: -0.56%
• 6M: 0.41%
• YTD: 0.93%
• 1Y: 4.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.32%
• 1M: -0.10%
• 6M: 2.76%
• YTD: 2.36%
• 1Y: 0.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFGP vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
DFGP Dimensional Global Core Plus Fixed Income ETF	0.93%	2.91%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.36%	-2.80%

Correlation

The correlation between DFGP and GGOV is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.59

The correlation between DFGP and GGOV has been stable across timeframes, ranging from 0.59 to 0.59 - a consistent structural relationship.

Return for Risk

DFGP vs. GGOV — Risk / Return Rank

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

DFGP

DFGP Risk / Return Rank: 34
DFGP Sharpe Ratio Rank: 35
DFGP Sortino Ratio Rank: 34
DFGP Omega Ratio Rank: 33
DFGP Calmar Ratio Rank: 31
DFGP Martin Ratio Rank: 36

GGOV

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

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.

DFGP vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Core Plus Fixed Income ETF (DFGP) 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.

	DFGP	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	1.02	0.03	+0.99
Sortino ratio: Return per unit of downside risk	1.48	0.06	+1.42
Omega ratio: Gain probability vs. loss probability	1.18	1.01	+0.17
Calmar ratio: Return relative to maximum drawdown	1.27	0.03	+1.24
Martin ratio: Return relative to average drawdown	4.26	0.06	+4.20

DFGP vs. GGOV - Sharpe Ratio Comparison

The current DFGP Sharpe Ratio is 1.02, which is higher than the GGOV Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of DFGP 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

DFGP vs. GGOV - Drawdown Comparison

The maximum DFGP drawdown since its inception was -3.24%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for DFGP and GGOV.

Drawdown Indicators

	DFGP	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-3.24%	-4.69%	+1.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-4.69%	+1.45%
Current Drawdown Current decline from peak	-1.18%	-1.44%	+0.26%
Average Drawdown Average peak-to-trough decline	-0.77%	-1.54%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.12%	-1.16%

Volatility

DFGP vs. GGOV - Volatility Comparison

Dimensional Global Core Plus Fixed Income ETF (DFGP) has a higher volatility of 1.31% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.97%. This indicates that DFGP'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

	DFGP	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	0.97%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	3.44%	3.61%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	5.29%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	5.20%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	5.20%	-0.56%

DFGP vs. GGOV - Expense Ratio Comparison

DFGP has a 0.22% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

DFGP vs. GGOV - Dividend Comparison

DFGP's dividend yield for the trailing twelve months is around 4.45%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	4.45%	3.45%	4.51%	0.62%
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFGP and GGOV in my portfolio?

DFGP and GGOV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFGP or GGOV?

DFGP has higher volatility (1.31%) compared to GGOV (0.97%). In terms of maximum drawdown, DFGP dropped -3.24% vs GGOV's -4.69%.

Which ETF is better, DFGP or GGOV?

On 1-year performance, DFGP leads with 4.10% vs 0.14% for GGOV. On fees, DFGP is cheaper at 0.22% per year. On volatility, GGOV has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGP or GGOV?

Over the 1-year period, DFGP has performed better with a 4.10% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGP or GGOV?

DFGP is cheaper with a 0.22% expense ratio, compared with 0.39% for GGOV.

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

DFGP has the higher dividend yield at 4.45%, compared with 0.00% for GGOV.

What is the main difference between DFGP and GGOV?

They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.22% for DFGP and 0.39% for GGOV.

Which has better risk-adjusted returns?

DFGP currently has the higher Sharpe Ratio (1.02 vs 0.03), 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.