GGOV vs. DFSB
GGOV (iShares Global Government Bond USD Hedged Active ETF) and DFSB (Dimensional Global Sustainability Fixed Income ETF) are both Global Bonds funds. Over the past year, GGOV returned 0.14% vs 3.59% for DFSB. A 0.58 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.24%/yr for DFSB.
Performance
GGOV vs. DFSB - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.36% return, which is significantly higher than DFSB's 0.70% return.
GGOV
- 1D
- -0.32%
- 1M
- -0.10%
- 6M
- 2.76%
- YTD
- 2.36%
- 1Y
- 0.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFSB
- 1D
- 0.10%
- 1M
- -0.54%
- 6M
- 0.24%
- YTD
- 0.70%
- 1Y
- 3.59%
- 3Y*
- 4.70%
- 5Y*
- —
- 10Y*
- —
GGOV vs. DFSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.36% | -2.80% |
DFSB Dimensional Global Sustainability Fixed Income ETF | 0.70% | 2.25% |
Correlation
The correlation between GGOV and DFSB is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.58 |
The correlation between GGOV and DFSB has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.
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Return for Risk
GGOV vs. DFSB — Risk / Return Rank
GGOV
DFSB
GGOV vs. DFSB - 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 Dimensional Global Sustainability Fixed Income ETF (DFSB). 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 | DFSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.16 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 1.19 | -1.16 |
| Martin ratioReturn relative to average drawdown | 0.06 | 3.62 | -3.55 |
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Drawdowns
GGOV vs. DFSB - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum DFSB drawdown of -5.16%. Use the drawdown chart below to compare losses from any high point for GGOV and DFSB.
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Drawdown Indicators
| GGOV | DFSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -5.16% | +0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -3.04% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.37% | — |
Current DrawdownCurrent decline from peak | -1.44% | -1.26% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -1.24% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.00% | +1.12% |
Volatility
GGOV vs. DFSB - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.97%, while Dimensional Global Sustainability Fixed Income ETF (DFSB) has a volatility of 1.03%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than DFSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | DFSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.03% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 3.28% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 3.92% | +1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 5.43% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 5.43% | -0.23% |
GGOV vs. DFSB - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than DFSB's 0.24% expense ratio.
Dividends
GGOV vs. DFSB - Dividend Comparison
GGOV has not paid dividends to shareholders, while DFSB's dividend yield for the trailing twelve months is around 4.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DFSB Dimensional Global Sustainability Fixed Income ETF | 4.36% | 3.46% | 4.35% | 5.27% | 0.41% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GGOV and DFSB have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFSB has higher volatility (1.03%) compared to GGOV (0.97%). In terms of maximum drawdown, GGOV dropped -4.69% vs DFSB's -5.16%.
On 1-year performance, DFSB leads with 3.59% vs 0.14% for GGOV. On fees, DFSB is cheaper at 0.24% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DFSB has performed better with a 3.59% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFSB is cheaper with a 0.24% expense ratio, compared with 0.39% for GGOV.
DFSB has the higher dividend yield at 4.36%, compared with 0.00% for GGOV.
They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.39% for GGOV and 0.24% for DFSB.
DFSB currently has the higher Sharpe Ratio (0.92 vs 0.03), 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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