GGOV vs. IAU
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while IAU is a Gold fund tracking the LBMA Gold Price. At a 0.18 correlation, their price movements are largely independent. GGOV charges 0.39%/yr vs 0.25%/yr for IAU.
Performance
GGOV vs. IAU - 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 IAU's -4.73% return.
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAU
- 1D
- -1.87%
- 1M
- -8.82%
- YTD
- -4.73%
- 6M
- -8.68%
- 1Y
- 21.45%
- 3Y*
- 28.61%
- 5Y*
- 18.02%
- 10Y*
- 11.76%
GGOV vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
IAU iShares Gold Trust | -4.73% | 29.15% |
Correlation
The correlation between GGOV and IAU is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.18 |
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Return for Risk
GGOV vs. IAU — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IAU
GGOV vs. IAU - 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 Gold Trust (IAU). 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 | IAU | 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 | — | 0.88 | — |
| Martin ratioReturn relative to average drawdown | — | 2.37 | — |
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Drawdowns
GGOV vs. IAU - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for GGOV and IAU.
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Drawdown Indicators
| GGOV | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -45.14% | +40.45% |
Max Drawdown (1Y)Largest decline over 1 year | — | -24.40% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.40% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.40% | — |
Current DrawdownCurrent decline from peak | -1.06% | -23.87% | +22.81% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -15.97% | +14.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 9.07% | — |
Volatility
GGOV vs. IAU - Volatility Comparison
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Volatility by Period
| GGOV | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.10% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 24.23% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 27.38% | -22.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 18.18% | -12.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 15.98% | -10.70% |
GGOV vs. IAU - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
GGOV vs. IAU - Dividend Comparison
Neither GGOV nor IAU has paid dividends to shareholders.
Frequently Asked Questions
GGOV and IAU have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.39% for GGOV.
GGOV and IAU have nearly identical dividend yields, around 0.00%.
GGOV is categorized as Global Bonds, while IAU is Gold. Their fees differ too: 0.39% for GGOV and 0.25% for IAU.
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