GGOV vs. DGRO
GGOV (iShares Global Government Bond USD Hedged Active ETF) and DGRO (iShares Core Dividend Growth ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while DGRO is a Large Cap Growth Equities fund tracking the Morningstar US Dividend Growth Index. GGOV is actively managed, while DGRO is passively managed. Over the past year, GGOV returned -0.42% vs 24.64% for DGRO. Their 0.08 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.08%/yr for DGRO.
Performance
GGOV vs. DGRO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GGOV achieves a 2.61% return, which is significantly lower than DGRO's 13.79% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
DGRO
- 1D
- 0.35%
- 1M
- 1.32%
- 6M
- 9.21%
- YTD
- 13.79%
- 1Y
- 24.64%
- 3Y*
- 17.09%
- 5Y*
- 11.15%
- 10Y*
- 13.38%
- ALL TIME*
- 12.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $107.57M | $103.25M | $110.55M | |
| $49.16M | $62.50M | $78.51M |
GGOV vs. DGRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
DGRO iShares Core Dividend Growth ETF | 13.79% | 11.50% |
Correlation
The correlation between GGOV and DGRO is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.08 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GGOV vs. DGRO — Risk / Return Rank
GGOV
DGRO
GGOV vs. DGRO - 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 Core Dividend Growth ETF (DGRO). 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 | DGRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.48 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 3.83 | -3.92 |
| Martin ratioReturn relative to average drawdown | -0.19 | 14.91 | -15.10 |
Loading charts...
Drawdowns
GGOV vs. DGRO - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum DGRO drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for GGOV and DGRO.
Loading charts...
Drawdown Indicators
| GGOV | DGRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -35.10% | +30.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -6.47% | +1.78% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.10% | — |
Current DrawdownCurrent decline from peak | -1.20% | -1.01% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -3.41% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.66% | +0.49% |
Volatility
GGOV vs. DGRO - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares Core Dividend Growth ETF (DGRO) has a volatility of 2.88%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than DGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GGOV | DGRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 2.88% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 7.12% | -3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 9.54% | -4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 13.79% | -8.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 16.58% | -11.50% |
GGOV vs. DGRO - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than DGRO's 0.08% expense ratio.
Dividends
GGOV vs. DGRO - Dividend Comparison
GGOV has not paid dividends to shareholders, while DGRO's dividend yield for the trailing twelve months is around 1.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRO iShares Core Dividend Growth ETF | 1.89% | 2.09% | 2.26% | 2.45% | 2.34% | 1.93% | 2.30% | 2.21% | 2.44% | 2.03% | 2.27% | 2.52% |
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 DGRO have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGRO has higher volatility (2.88%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs DGRO's -35.10%.
On 1-year performance, DGRO leads with 24.64% vs -0.42% for GGOV. On fees, DGRO is cheaper at 0.08% 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, DGRO has performed better with a 24.64% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGRO is cheaper with a 0.08% expense ratio, compared with 0.39% for GGOV.
DGRO has the higher dividend yield at 1.89%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while DGRO is Large Cap Growth Equities. Their fees differ too: 0.39% for GGOV and 0.08% for DGRO.
DGRO currently has the higher Sharpe Ratio (2.60 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.
Find the right allocation for GGOV and DGRO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer