GGOV vs. BNDW
GGOV (iShares Global Government Bond USD Hedged Active ETF) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds. A 0.62 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.05%/yr for BNDW.
Performance
GGOV vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.75% return, which is significantly higher than BNDW's 0.88% return.
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNDW
- 1D
- 0.15%
- 1M
- 0.77%
- YTD
- 0.88%
- 6M
- 0.88%
- 1Y
- 3.23%
- 3Y*
- 4.10%
- 5Y*
- 0.27%
- 10Y*
- —
GGOV vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
BNDW Vanguard Total World Bond ETF | 0.88% | 2.21% |
Correlation
The correlation between GGOV and BNDW is 0.62, 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 26, 2025 | 0.62 |
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Return for Risk
GGOV vs. BNDW — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BNDW
GGOV vs. BNDW - 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 Vanguard Total World Bond ETF (BNDW). 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 | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.17 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.20 | — |
| Martin ratioReturn relative to average drawdown | — | 3.24 | — |
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Drawdowns
GGOV vs. BNDW - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for GGOV and BNDW.
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Drawdown Indicators
| GGOV | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -17.22% | +12.53% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.70% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.27% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.93% | — |
Current DrawdownCurrent decline from peak | -1.06% | -1.08% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -4.95% | +3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.00% | — |
Volatility
GGOV vs. BNDW - Volatility Comparison
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Volatility by Period
| GGOV | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 3.35% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 5.22% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 4.89% | +0.39% |
GGOV vs. BNDW - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Dividends
GGOV vs. BNDW - Dividend Comparison
GGOV has not paid dividends to shareholders, while BNDW's dividend yield for the trailing twelve months is around 4.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.19% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
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% |
Frequently Asked Questions
GGOV and BNDW have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BNDW is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNDW is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.
BNDW has the higher dividend yield at 4.19%, compared with 0.00% for GGOV.
They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.39% for GGOV and 0.05% for BNDW.
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