DGCB vs. GGOV

Last updated Jun 3, 2026

DGCB (Dimensional Global Credit ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. A 0.55 correlation means they provide meaningful diversification when combined. DGCB charges 0.20%/yr vs 0.39%/yr for GGOV.

Performance

DGCB vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Credit ETF (DGCB) 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, DGCB achieves a 1.43% return, which is significantly lower than GGOV's 2.47% return.

DGCB

• 1D: 0.03%
• 1M: 0.76%
• YTD: 1.43%
• 6M: 1.40%
• 1Y: 6.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.12%
• 1M: 0.55%
• YTD: 2.47%
• 6M: -0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGCB vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
DGCB Dimensional Global Credit ETF	1.43%	3.16%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.47%	-2.81%

Correlation

The correlation between DGCB and GGOV is 0.55, 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 27, 2025	0.55

Return for Risk

DGCB vs. GGOV — Risk / Return Rank

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

DGCB

DGCB Risk / Return Rank: 42
DGCB Sharpe Ratio Rank: 44
DGCB Sortino Ratio Rank: 44
DGCB Omega Ratio Rank: 44
DGCB Calmar Ratio Rank: 38
DGCB Martin Ratio Rank: 42

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.

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.

	DGCB	GGOV	Difference
Sharpe ratio Return per unit of total volatility	1.56	—	—
Sortino ratio Return per unit of downside risk	2.26	—	—
Omega ratio Gain probability vs. loss probability	1.28	—	—
Calmar ratio Return relative to maximum drawdown	1.93	—	—
Martin ratio Return relative to average drawdown	6.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DGCB	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.49	-0.08	+1.57

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.

Drawdown Indicators

	DGCB	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-3.50%	-4.69%	+1.19%
Max Drawdown (1Y) Largest decline over 1 year	-3.08%	—	—
Current Drawdown Current decline from peak	-0.45%	-1.34%	+0.89%
Average Drawdown Average peak-to-trough decline	-0.80%	-1.59%	+0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	—	—

Volatility

Volatility by Period

	DGCB	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.97%	5.39%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.82%	5.39%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.82%	5.39%	-0.57%

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 3.22%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DGCB Dimensional Global Credit ETF	3.22%	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

Can I hold both DGCB and GGOV in my portfolio?

DGCB and GGOV have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DGCB or GGOV?

On fees, DGCB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DGCB or GGOV?

DGCB is cheaper with a 0.20% expense ratio, compared with 0.39% for GGOV.

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

DGCB has the higher dividend yield at 3.22%, compared with 0.00% for GGOV.

What is the main difference between DGCB and GGOV?

They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.20% for DGCB and 0.39% for GGOV.