GGOV vs. IBTJ
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IBTJ (iShares iBonds Dec 2029 Term Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while IBTJ is a Government Bonds fund tracking the ICE 2029 Maturity US Treasury Index. GGOV is actively managed, while IBTJ is passively managed. Over the past year, GGOV returned -0.42% vs 2.00% for IBTJ. Their 0.60 correlation means they have sometimes moved together and sometimes differently. GGOV charges 0.39%/yr vs 0.07%/yr for IBTJ.
Performance
GGOV vs. IBTJ - 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 IBTJ's 0.16% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
IBTJ
- 1D
- 0.09%
- 1M
- -0.12%
- 6M
- 0.15%
- YTD
- 0.16%
- 1Y
- 2.00%
- 3Y*
- 3.94%
- 5Y*
- -0.52%
- 10Y*
- —
- ALL TIME*
- 0.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $6.67M | $6.79M | $6.05M |
GGOV vs. IBTJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 0.16% | 2.62% |
Correlation
The correlation between GGOV and IBTJ is 0.57, 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. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.60 |
The correlation between GGOV and IBTJ has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.
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Return for Risk
GGOV vs. IBTJ — Risk / Return Rank
GGOV
IBTJ
GGOV vs. IBTJ - 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 2029 Term Treasury ETF (IBTJ). 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 | IBTJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.16 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 1.24 | -1.33 |
| Martin ratioReturn relative to average drawdown | -0.19 | 2.88 | -3.07 |
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Drawdowns
GGOV vs. IBTJ - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum IBTJ drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for GGOV and IBTJ.
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Drawdown Indicators
| GGOV | IBTJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -20.19% | +15.50% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -1.62% | -3.07% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.92% | — |
Current DrawdownCurrent decline from peak | -1.20% | -6.06% | +4.86% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -9.63% | +8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.70% | +1.45% |
Volatility
GGOV vs. IBTJ - Volatility Comparison
iShares Global Government Bond USD Hedged Active ETF (GGOV) has a higher volatility of 0.78% compared to iShares iBonds Dec 2029 Term Treasury ETF (IBTJ) at 0.51%. This indicates that GGOV's price experiences larger fluctuations and is considered to be riskier than IBTJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | IBTJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.51% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 1.69% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 2.16% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 5.68% | -0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 5.93% | -0.85% |
GGOV vs. IBTJ - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IBTJ's 0.07% expense ratio.
Dividends
GGOV vs. IBTJ - Dividend Comparison
GGOV has not paid dividends to shareholders, while IBTJ's dividend yield for the trailing twelve months is around 3.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTJ iShares iBonds Dec 2029 Term Treasury ETF | 3.79% | 3.78% | 3.95% | 3.48% | 1.86% | 0.74% | 0.61% |
Frequently Asked Questions
GGOV and IBTJ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.78%) compared to IBTJ (0.51%). In terms of maximum drawdown, GGOV dropped -4.69% vs IBTJ's -20.19%.
On 1-year performance, IBTJ leads with 2.00% vs -0.42% for GGOV. On fees, IBTJ is cheaper at 0.07% per year. On volatility, IBTJ has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTJ has performed better with a 2.00% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTJ is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.
IBTJ has the higher dividend yield at 3.79%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while IBTJ is Government Bonds. Their fees differ too: 0.39% for GGOV and 0.07% for IBTJ.
IBTJ currently has the higher Sharpe Ratio (0.93 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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