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 managed by iShares, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. At a 0.14 correlation, their price movements are largely independent. 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 2.75% return, which is significantly lower than ACWI's 9.86% return.
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ACWI
- 1D
- -2.00%
- 1M
- -0.35%
- YTD
- 9.86%
- 6M
- 9.11%
- 1Y
- 25.60%
- 3Y*
- 20.00%
- 5Y*
- 10.74%
- 10Y*
- 13.09%
GGOV vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
ACWI iShares MSCI ACWI ETF | 9.86% | 12.91% |
Correlation
The correlation between GGOV and ACWI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.14 |
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Return for Risk
GGOV vs. ACWI — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.34 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.64 | — |
| Martin ratioReturn relative to average drawdown | — | 11.51 | — |
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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 | — | -9.73% | — |
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 | -1.06% | -2.83% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -8.59% | +7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.23% | — |
Volatility
GGOV vs. ACWI - Volatility Comparison
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Volatility by Period
| GGOV | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.57% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.38% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 13.64% | -8.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 16.20% | -10.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 17.08% | -11.80% |
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 1.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.45% | 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 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ACWI is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ACWI is cheaper with a 0.32% expense ratio, compared with 0.39% for GGOV.
ACWI has the higher dividend yield at 1.45%, 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.
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