DGCB vs. GGOV
DGCB (Dimensional Global Credit ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. Both are actively managed. Over the past year, DGCB returned 2.72% vs -0.54% for GGOV. Their 0.57 correlation means they have sometimes moved together and sometimes differently. DGCB charges 0.20%/yr vs 0.39%/yr for GGOV.
Performance
DGCB vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, DGCB achieves a 0.58% return, which is significantly lower than GGOV's 2.49% return.
DGCB
- 1D
- -0.18%
- 1M
- -1.31%
- 6M
- -0.16%
- YTD
- 0.58%
- 1Y
- 2.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.33%
GGOV
- 1D
- 0.00%
- 1M
- -0.22%
- 6M
- 2.93%
- YTD
- 2.49%
- 1Y
- -0.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.69M | $6.72M | $6.74M | |
| $61.82M | $62.54M | $76.81M |
DGCB vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DGCB Dimensional Global Credit ETF | 0.58% | 3.36% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.49% | -2.80% |
Correlation
The correlation between DGCB and GGOV is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.57 |
The correlation between DGCB and GGOV has been stable across timeframes, ranging from 0.57 to 0.57 - a consistent structural relationship.
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Return for Risk
DGCB vs. GGOV — Risk / Return Rank
DGCB
GGOV
DGCB vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Credit ETF (DGCB) 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.
| DGCB | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.01 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 0.01 | +1.05 |
| Martin ratioReturn relative to average drawdown | 3.46 | 0.03 | +3.43 |
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Drawdowns
DGCB vs. GGOV - Drawdown Comparison
The maximum DGCB drawdown since its inception was -3.50%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for DGCB and GGOV.
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Drawdown Indicators
| DGCB | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.50% | -4.69% | +1.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -4.69% | +1.61% |
Current DrawdownCurrent decline from peak | -1.63% | -1.32% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -1.54% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.15% | -1.20% |
Volatility
DGCB vs. GGOV - Volatility Comparison
Dimensional Global Credit ETF (DGCB) has a higher volatility of 1.06% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.77%. This indicates that DGCB'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.
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Volatility by Period
| DGCB | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.77% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 3.57% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.01% | 5.25% | -1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 5.09% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.77% | 5.09% | -0.32% |
DGCB vs. GGOV - Expense Ratio Comparison
DGCB has a 0.20% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
DGCB vs. GGOV - Dividend Comparison
DGCB's dividend yield for the trailing twelve months is around 5.36%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
DGCB Dimensional Global Credit ETF | 5.36% | 3.43% | 4.72% | 0.63% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DGCB and GGOV have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGCB has higher volatility (1.06%) compared to GGOV (0.77%). In terms of maximum drawdown, DGCB dropped -3.50% vs GGOV's -4.69%.
On 1-year performance, DGCB leads with 2.72% vs -0.54% for GGOV. On fees, DGCB is cheaper at 0.20% per year. On volatility, GGOV has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DGCB has performed better with a 2.72% return vs -0.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGCB is cheaper with a 0.20% expense ratio, compared with 0.39% for GGOV.
DGCB has the higher dividend yield at 5.36%, compared with 0.00% for GGOV.
They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.20% for DGCB and 0.39% for GGOV.
DGCB currently has the higher Sharpe Ratio (0.82 vs 0.01), 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.
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