GGOV vs. DGCB

Last updated Jun 24, 2026

GGOV (iShares Global Government Bond USD Hedged Active ETF) and DGCB (Dimensional Global Credit ETF) are both Global Bonds funds. A 0.56 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.20%/yr for DGCB.

Performance

GGOV vs. DGCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Government Bond USD Hedged Active ETF (GGOV) and Dimensional Global Credit ETF (DGCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGOV achieves a 2.75% return, which is significantly higher than DGCB's 0.87% return.

GGOV

• 1D: 0.02%
• 1M: 0.60%
• YTD: 2.75%
• 6M: 2.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGCB

• 1D: -0.59%
• 1M: 0.18%
• YTD: 0.87%
• 6M: 0.98%
• 1Y: 4.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGOV vs. DGCB - Yearly Performance Comparison

	2026 (YTD)	2025
GGOV iShares Global Government Bond USD Hedged Active ETF	2.75%	-2.80%
DGCB Dimensional Global Credit ETF	0.87%	3.36%

Correlation

The correlation between GGOV and DGCB is 0.56, 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	0.56

Return for Risk

GGOV vs. DGCB — Risk / Return Rank

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

GGOV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DGCB

DGCB Risk / Return Rank: 33
DGCB Sharpe Ratio Rank: 33
DGCB Sortino Ratio Rank: 32
DGCB Omega Ratio Rank: 31
DGCB Calmar Ratio Rank: 31
DGCB Martin Ratio Rank: 36

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.

GGOV vs. DGCB - 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 Credit ETF (DGCB). 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	DGCB	Difference
Sharpe ratio: Return per unit of total volatility	—	1.12	—
Sortino ratio: Return per unit of downside risk	—	1.63	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.47	—
Martin ratio: Return relative to average drawdown	—	5.10	—

Drawdowns

GGOV vs. DGCB - Drawdown Comparison

The maximum GGOV drawdown since its inception was -4.69%, which is greater than DGCB's maximum drawdown of -3.50%. Use the drawdown chart below to compare losses from any high point for GGOV and DGCB.

Drawdown Indicators

	GGOV	DGCB	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-3.50%	-1.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.08%	—
Current Drawdown Current decline from peak	-1.06%	-0.99%	-0.07%
Average Drawdown Average peak-to-trough decline	-1.57%	-0.80%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	GGOV	DGCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.28%	4.02%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.28%	4.83%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.28%	4.83%	+0.45%

GGOV vs. DGCB - Expense Ratio Comparison

GGOV has a 0.39% expense ratio, which is higher than DGCB's 0.20% expense ratio.

Dividends

GGOV vs. DGCB - Dividend Comparison

GGOV has not paid dividends to shareholders, while DGCB's dividend yield for the trailing twelve months is around 3.23%.

Position	TTM	2025	2024	2023
DGCB Dimensional Global Credit ETF	3.23%	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 GGOV and DGCB in my portfolio?

GGOV and DGCB have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GGOV or DGCB?

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, GGOV or DGCB?

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

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

DGCB has the higher dividend yield at 3.23%, compared with 0.00% for GGOV.

What is the main difference between GGOV and DGCB?

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