GGOV vs. IBIT
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. GGOV is actively managed, while IBIT is passively managed. Over the past year, GGOV returned -0.42% vs -43.69% for IBIT. Their 0.09 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.25%/yr for IBIT.
Performance
GGOV vs. IBIT - 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 IBIT's -27.17% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
IBIT
- 1D
- 1.46%
- 1M
- 3.70%
- 6M
- -18.23%
- YTD
- -27.17%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $1.33B | $1.34B | $1.65B |
GGOV vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
IBIT iShares Bitcoin Trust ETF | -27.17% | -18.97% |
Correlation
The correlation between GGOV and IBIT is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.09 |
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Return for Risk
GGOV vs. IBIT — Risk / Return Rank
GGOV
IBIT
GGOV vs. IBIT - 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 Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.84 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | -0.82 | +0.73 |
| Martin ratioReturn relative to average drawdown | -0.19 | -1.26 | +1.06 |
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Drawdowns
GGOV vs. IBIT - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for GGOV and IBIT.
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Drawdown Indicators
| GGOV | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -53.30% | +48.61% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -53.30% | +48.61% |
Current DrawdownCurrent decline from peak | -1.20% | -49.28% | +48.08% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -18.29% | +16.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 34.80% | -32.65% |
Volatility
GGOV vs. IBIT - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.98%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 8.98% | -8.20% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 33.79% | -30.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 44.48% | -39.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 49.57% | -44.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 49.57% | -44.49% |
GGOV vs. IBIT - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
GGOV vs. IBIT - Dividend Comparison
Neither GGOV nor IBIT has paid dividends to shareholders.
Frequently Asked Questions
GGOV and IBIT have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.98%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs IBIT's -53.30%.
On 1-year performance, GGOV leads with -0.42% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% 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 -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.39% for GGOV.
GGOV and IBIT have nearly identical dividend yields, around 0.00%.
GGOV is categorized as Global Bonds, while IBIT is Cryptocurrency. Their fees differ too: 0.39% for GGOV and 0.25% for IBIT.
GGOV currently has the higher Sharpe Ratio (-0.08 vs -0.99), 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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