GGOV vs. IBTQ
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IBTQ (iShares iBonds Dec 2035 Term Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while IBTQ is a Government Bonds fund tracking the ICE 2035 Maturity US Treasury Index. Over the past year, GGOV returned 0.14% vs 3.04% for IBTQ. A 0.65 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.07%/yr for IBTQ.
Performance
GGOV vs. IBTQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GGOV achieves a 2.36% return, which is significantly higher than IBTQ's -1.10% return.
GGOV
- 1D
- -0.32%
- 1M
- -0.10%
- 6M
- 2.76%
- YTD
- 2.36%
- 1Y
- 0.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTQ
- 1D
- -0.40%
- 1M
- -0.61%
- 6M
- -1.12%
- YTD
- -1.10%
- 1Y
- 3.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GGOV vs. IBTQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.36% | -2.80% |
IBTQ iShares iBonds Dec 2035 Term Treasury ETF | -1.10% | 3.39% |
Correlation
The correlation between GGOV and IBTQ is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.65 |
The correlation between GGOV and IBTQ has been stable across timeframes, ranging from 0.65 to 0.65 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GGOV vs. IBTQ — Risk / Return Rank
GGOV
IBTQ
GGOV vs. IBTQ - 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 2035 Term Treasury ETF (IBTQ). 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 | IBTQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.11 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.72 | -0.69 |
| Martin ratioReturn relative to average drawdown | 0.06 | 1.86 | -1.80 |
Loading charts...
Drawdowns
GGOV vs. IBTQ - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than IBTQ's maximum drawdown of -4.27%. Use the drawdown chart below to compare losses from any high point for GGOV and IBTQ.
Loading charts...
Drawdown Indicators
| GGOV | IBTQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -4.27% | -0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -4.27% | -0.42% |
Current DrawdownCurrent decline from peak | -1.44% | -3.33% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -1.50% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 1.64% | +0.48% |
Volatility
GGOV vs. IBTQ - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.97%, while iShares iBonds Dec 2035 Term Treasury ETF (IBTQ) has a volatility of 1.62%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than IBTQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GGOV | IBTQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 1.62% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.61% | 3.71% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 4.94% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 5.59% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 5.59% | -0.39% |
GGOV vs. IBTQ - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IBTQ's 0.07% expense ratio.
Dividends
GGOV vs. IBTQ - Dividend Comparison
GGOV has not paid dividends to shareholders, while IBTQ's dividend yield for the trailing twelve months is around 3.74%.
| Position | TTM | 2025 |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% |
IBTQ iShares iBonds Dec 2035 Term Treasury ETF | 3.74% | 2.80% |
Frequently Asked Questions
GGOV and IBTQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTQ has higher volatility (1.62%) compared to GGOV (0.97%). In terms of maximum drawdown, GGOV dropped -4.69% vs IBTQ's -4.27%.
On 1-year performance, IBTQ leads with 3.04% vs 0.14% for GGOV. On fees, IBTQ is cheaper at 0.07% per year. On volatility, GGOV has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTQ has performed better with a 3.04% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTQ is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.
IBTQ has the higher dividend yield at 3.74%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while IBTQ is Government Bonds. Their fees differ too: 0.39% for GGOV and 0.07% for IBTQ.
IBTQ currently has the higher Sharpe Ratio (0.62 vs 0.03), 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.
Find the right allocation for GGOV and IBTQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer