GGOV vs. GOVI
GGOV (iShares Global Government Bond USD Hedged Active ETF) and GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while GOVI is a Government Bonds fund tracking the ICE 1-30 Year Laddered Maturity U.S. Treasury Index. GGOV is actively managed, while GOVI is passively managed. Over the past year, GGOV returned -0.42% vs -0.31% for GOVI. Their 0.63 correlation means they have sometimes moved together and sometimes differently. GGOV charges 0.39%/yr vs 0.15%/yr for GOVI.
Performance
GGOV vs. GOVI - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.61% return, which is significantly higher than GOVI's -2.05% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
GOVI
- 1D
- 0.24%
- 1M
- -2.16%
- 6M
- -1.76%
- YTD
- -2.05%
- 1Y
- -0.31%
- 3Y*
- 1.33%
- 5Y*
- -3.98%
- 10Y*
- -0.47%
- ALL TIME*
- 2.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $4.62M | $4.83M | $7.09M |
GGOV vs. GOVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -2.05% | 2.84% |
Correlation
The correlation between GGOV and GOVI is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.63 |
The correlation between GGOV and GOVI has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.
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Return for Risk
GGOV vs. GOVI — Risk / Return Rank
GGOV
GOVI
GGOV vs. GOVI - 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 Invesco Equal Weight 0-30 Year Treasury ETF (GOVI). 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 | GOVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.00 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.06 | -0.03 |
| Martin ratioReturn relative to average drawdown | -0.19 | -0.13 | -0.07 |
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Drawdowns
GGOV vs. GOVI - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum GOVI drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for GGOV and GOVI.
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Drawdown Indicators
| GGOV | GOVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -32.70% | +28.01% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -5.45% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.70% | — |
Current DrawdownCurrent decline from peak | -1.20% | -23.55% | +22.35% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -9.76% | +8.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.39% | -0.24% |
Volatility
GGOV vs. GOVI - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) has a volatility of 1.65%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than GOVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | GOVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 1.65% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 4.85% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 6.22% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 9.81% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 9.07% | -3.99% |
GGOV vs. GOVI - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than GOVI's 0.15% expense ratio.
Dividends
GGOV vs. GOVI - Dividend Comparison
GGOV has not paid dividends to shareholders, while GOVI's dividend yield for the trailing twelve months is around 3.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.94% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
Frequently Asked Questions
GGOV and GOVI 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.
GOVI has higher volatility (1.65%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs GOVI's -32.70%.
On 1-year performance, GOVI leads with -0.31% vs -0.42% for GGOV. On fees, GOVI is cheaper at 0.15% 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, GOVI has performed better with a -0.31% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVI is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
GOVI has the higher dividend yield at 3.94%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while GOVI is Government Bonds. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for GGOV and 0.15% for GOVI.
GOVI currently has the higher Sharpe Ratio (-0.05 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.
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