GGOV vs. IVV
GGOV (iShares Global Government Bond USD Hedged Active ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while IVV is a S&P 500 fund tracking the S&P 500 Index. At a 0.08 correlation, their price movements are largely independent. GGOV charges 0.39%/yr vs 0.03%/yr for IVV.
Performance
GGOV vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.75% return, which is significantly lower than IVV's 8.20% return.
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVV
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.20%
- 6M
- 7.25%
- 1Y
- 23.72%
- 3Y*
- 20.79%
- 5Y*
- 13.13%
- 10Y*
- 15.58%
GGOV vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
IVV iShares Core S&P 500 ETF | 8.20% | 13.03% |
Correlation
The correlation between GGOV and IVV is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.08 |
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Return for Risk
GGOV vs. IVV — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IVV
GGOV vs. IVV - 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 Core S&P 500 ETF (IVV). 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 | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.35 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.68 | — |
| Martin ratioReturn relative to average drawdown | — | 11.98 | — |
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Drawdowns
GGOV vs. IVV - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for GGOV and IVV.
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Drawdown Indicators
| GGOV | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -55.25% | +50.56% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.89% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.75% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.90% | — |
Current DrawdownCurrent decline from peak | -1.06% | -3.14% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -10.76% | +9.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.99% | — |
Volatility
GGOV vs. IVV - Volatility Comparison
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Volatility by Period
| GGOV | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 12.48% | -7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 16.98% | -11.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 18.07% | -12.79% |
GGOV vs. IVV - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
GGOV vs. IVV - Dividend Comparison
GGOV has not paid dividends to shareholders, while IVV's dividend yield for the trailing twelve months is around 1.11%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IVV iShares Core S&P 500 ETF | 1.11% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
GGOV and IVV have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IVV is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IVV is cheaper with a 0.03% expense ratio, compared with 0.39% for GGOV.
IVV has the higher dividend yield at 1.11%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while IVV is S&P 500. Their fees differ too: 0.39% for GGOV and 0.03% for IVV.
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