GGOV vs. ACWI
GGOV (iShares Global Government Bond USD Hedged Active ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. GGOV is actively managed, while ACWI is passively managed. Over the past year, GGOV returned -0.42% vs 24.97% for ACWI. Their 0.18 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.32%/yr for ACWI.
Performance
GGOV vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.61% return, which is significantly lower than ACWI's 12.35% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
ACWI
- 1D
- 0.97%
- 1M
- 1.15%
- 6M
- 8.65%
- YTD
- 12.35%
- 1Y
- 24.97%
- 3Y*
- 19.75%
- 5Y*
- 10.91%
- 10Y*
- 12.51%
- ALL TIME*
- 8.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $355.08M | $458.17M | $501.32M | |
| $49.16M | $62.50M | $78.51M |
GGOV vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
ACWI iShares MSCI ACWI ETF | 12.35% | 12.91% |
Correlation
The correlation between GGOV and ACWI is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.18 |
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Return for Risk
GGOV vs. ACWI — Risk / Return Rank
GGOV
ACWI
GGOV vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond USD Hedged Active ETF (GGOV) and iShares MSCI ACWI ETF (ACWI). 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.
| GGOV | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.32 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.58 | -2.67 |
| Martin ratioReturn relative to average drawdown | -0.19 | 10.76 | -10.96 |
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Drawdowns
GGOV vs. ACWI - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for GGOV and ACWI.
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Drawdown Indicators
| GGOV | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -56.00% | +51.31% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -9.73% | +5.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -1.20% | -0.63% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -8.55% | +7.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.33% | -0.18% |
Volatility
GGOV vs. ACWI - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 4.14%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 4.14% | -3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 11.71% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 13.99% | -8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 16.23% | -11.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 17.07% | -11.99% |
GGOV vs. ACWI - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
GGOV vs. ACWI - Dividend Comparison
GGOV has not paid dividends to shareholders, while ACWI's dividend yield for the trailing twelve months is around 1.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.42% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GGOV and ACWI 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.
ACWI has higher volatility (4.14%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs ACWI's -56.00%.
On 1-year performance, ACWI leads with 24.97% vs -0.42% for GGOV. On fees, ACWI is cheaper at 0.32% per year. On volatility, GGOV has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ACWI has performed better with a 24.97% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.39% for GGOV.
ACWI has the higher dividend yield at 1.42%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while ACWI is Global Equities. Their fees differ too: 0.39% for GGOV and 0.32% for ACWI.
ACWI currently has the higher Sharpe Ratio (1.80 vs -0.08), 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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