GGOV vs. LFBE
GGOV (iShares Global Government Bond USD Hedged Active ETF) and LFBE (LifeX 2065 Longevity Income ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while LFBE is a Government Bonds fund actively managed by Stone Ridge. Over the past year, GGOV returned 0.46% vs 2.81% for LFBE. A 0.62 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.25%/yr for LFBE.
Performance
GGOV vs. LFBE - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.69% return, which is significantly higher than LFBE's -0.91% return.
GGOV
- 1D
- 0.16%
- 1M
- 0.22%
- 6M
- 2.94%
- YTD
- 2.69%
- 1Y
- 0.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LFBE
- 1D
- -0.08%
- 1M
- -0.89%
- 6M
- -1.53%
- YTD
- -0.91%
- 1Y
- 2.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GGOV vs. LFBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.69% | -2.80% |
LFBE LifeX 2065 Longevity Income ETF | -0.91% | 2.38% |
Correlation
The correlation between GGOV and LFBE is 0.63, 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 | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.62 |
The correlation between GGOV and LFBE 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. LFBE — Risk / Return Rank
GGOV
LFBE
GGOV vs. LFBE - 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 LifeX 2065 Longevity Income ETF (LFBE). 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 | LFBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.04 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 0.25 | -0.18 |
| Martin ratioReturn relative to average drawdown | 0.16 | 0.60 | -0.45 |
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Drawdowns
GGOV vs. LFBE - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum LFBE drawdown of -7.65%. Use the drawdown chart below to compare losses from any high point for GGOV and LFBE.
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Drawdown Indicators
| GGOV | LFBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -7.65% | +2.96% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -6.76% | +2.07% |
Current DrawdownCurrent decline from peak | -1.12% | -4.62% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -2.93% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 2.78% | -0.66% |
Volatility
GGOV vs. LFBE - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.95%, while LifeX 2065 Longevity Income ETF (LFBE) has a volatility of 2.53%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than LFBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | LFBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 2.53% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 6.03% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.27% | 8.13% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.20% | 9.29% | -4.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.20% | 9.29% | -4.09% |
GGOV vs. LFBE - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than LFBE's 0.25% expense ratio.
Dividends
GGOV vs. LFBE - Dividend Comparison
GGOV has not paid dividends to shareholders, while LFBE's dividend yield for the trailing twelve months is around 8.33%.
| Position | TTM | 2025 |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% |
LFBE LifeX 2065 Longevity Income ETF | 8.33% | 12.22% |
Frequently Asked Questions
GGOV and LFBE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LFBE has higher volatility (2.53%) compared to GGOV (0.95%). In terms of maximum drawdown, GGOV dropped -4.69% vs LFBE's -7.65%.
On 1-year performance, LFBE leads with 2.81% vs 0.46% for GGOV. On fees, LFBE is cheaper at 0.25% per year. On volatility, GGOV has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LFBE has performed better with a 2.81% return vs 0.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LFBE is cheaper with a 0.25% expense ratio, compared with 0.39% for GGOV.
LFBE has the higher dividend yield at 8.33%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while LFBE is Government Bonds. They also come from different issuers: iShares and Stone Ridge. Their fees differ too: 0.39% for GGOV and 0.25% for LFBE.
LFBE currently has the higher Sharpe Ratio (0.21 vs 0.06), 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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