GGOV vs. IBGB
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IBGB (iShares iBonds Dec 2045 Term Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index. GGOV is actively managed, while IBGB is passively managed. Over the past year, GGOV returned -0.42% vs -0.84% for IBGB. Their 0.63 correlation means they have sometimes moved together and sometimes differently. GGOV charges 0.39%/yr vs 0.07%/yr for IBGB.
Performance
GGOV vs. IBGB - 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 IBGB's -2.61% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
IBGB
- 1D
- 0.46%
- 1M
- -2.86%
- 6M
- -2.38%
- YTD
- -2.61%
- 1Y
- -0.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $29.51K | $33.25K | $83.25K |
GGOV vs. IBGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -2.61% | 3.13% |
Correlation
The correlation between GGOV and IBGB 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 IBGB 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. IBGB — Risk / Return Rank
GGOV
IBGB
GGOV vs. IBGB - 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 iBonds Dec 2045 Term Treasury ETF (IBGB). 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 | IBGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.12 | +0.04 |
| Martin ratioReturn relative to average drawdown | -0.19 | -0.28 | +0.08 |
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Drawdowns
GGOV vs. IBGB - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum IBGB drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for GGOV and IBGB.
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Drawdown Indicators
| GGOV | IBGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -8.09% | +3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -6.79% | +2.10% |
Current DrawdownCurrent decline from peak | -1.20% | -6.31% | +5.11% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -3.31% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 3.05% | -0.90% |
Volatility
GGOV vs. IBGB - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares iBonds Dec 2045 Term Treasury ETF (IBGB) has a volatility of 2.18%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than IBGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | IBGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 2.18% | -1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 6.16% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 8.00% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 9.36% | -4.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 9.36% | -4.28% |
GGOV vs. IBGB - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IBGB's 0.07% expense ratio.
Dividends
GGOV vs. IBGB - Dividend Comparison
GGOV has not paid dividends to shareholders, while IBGB's dividend yield for the trailing twelve months is around 4.78%.
| Position | TTM | 2025 |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.78% | 3.53% |
Frequently Asked Questions
GGOV and IBGB 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.
IBGB has higher volatility (2.18%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs IBGB's -8.09%.
On 1-year performance, GGOV leads with -0.42% vs -0.84% for IBGB. On fees, IBGB is cheaper at 0.07% 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, GGOV has performed better with a -0.42% return vs -0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.
IBGB has the higher dividend yield at 4.78%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while IBGB is Government Bonds. Their fees differ too: 0.39% for GGOV and 0.07% for IBGB.
GGOV currently has the higher Sharpe Ratio (-0.08 vs -0.11), 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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