GGOV vs. SCHR

Last updated Jul 14, 2026

GGOV (iShares Global Government Bond USD Hedged Active ETF) and SCHR (Schwab Intermediate-Term U.S. Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while SCHR is a Government Bonds fund tracking the Bloomberg US Treasury 3-10 Year Index. Over the past year, GGOV returned 0.14% vs 2.80% for SCHR. A 0.62 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.05%/yr for SCHR.

Performance

GGOV vs. SCHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Government Bond USD Hedged Active ETF (GGOV) and Schwab Intermediate-Term U.S. Treasury ETF (SCHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGOV achieves a 2.36% return, which is significantly higher than SCHR's -0.44% return.

GGOV

• 1D: -0.32%
• 1M: -0.10%
• 6M: 2.76%
• YTD: 2.36%
• 1Y: 0.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SCHR

• 1D: 0.20%
• 1M: -0.17%
• 6M: -0.52%
• YTD: -0.44%
• 1Y: 2.80%
• 3Y*: 3.54%
• 5Y*: -0.08%
• 10Y*: 1.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GGOV vs. SCHR - Yearly Performance Comparison

	2026 (YTD)	2025
GGOV iShares Global Government Bond USD Hedged Active ETF	2.36%	-2.80%
SCHR Schwab Intermediate-Term U.S. Treasury ETF	-0.44%	2.79%

Correlation

The correlation between GGOV and SCHR 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 SCHR has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.

Return for Risk

GGOV vs. SCHR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGOV

GGOV Risk / Return Rank: 9
GGOV Sharpe Ratio Rank: 10
GGOV Sortino Ratio Rank: 8
GGOV Omega Ratio Rank: 9
GGOV Calmar Ratio Rank: 10
GGOV Martin Ratio Rank: 10

SCHR

SCHR Risk / Return Rank: 26
SCHR Sharpe Ratio Rank: 28
SCHR Sortino Ratio Rank: 27
SCHR Omega Ratio Rank: 24
SCHR Calmar Ratio Rank: 26
SCHR Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GGOV vs. SCHR - 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 Schwab Intermediate-Term U.S. Treasury ETF (SCHR). 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	SCHR	Difference
Sharpe ratio: Return per unit of total volatility	0.03	0.82	-0.79
Sortino ratio: Return per unit of downside risk	0.06	1.24	-1.18
Omega ratio: Gain probability vs. loss probability	1.01	1.14	-0.13
Calmar ratio: Return relative to maximum drawdown	0.03	1.01	-0.98
Martin ratio: Return relative to average drawdown	0.06	2.55	-2.48

GGOV vs. SCHR - Sharpe Ratio Comparison

The current GGOV Sharpe Ratio is 0.03, which is lower than the SCHR Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of GGOV and SCHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GGOV vs. SCHR - Drawdown Comparison

The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum SCHR drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for GGOV and SCHR.

Drawdown Indicators

	GGOV	SCHR	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-16.11%	+11.42%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	-2.79%	-1.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.11%	—
Current Drawdown Current decline from peak	-1.44%	-2.37%	+0.93%
Average Drawdown Average peak-to-trough decline	-1.54%	-3.63%	+2.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.10%	+1.02%

Volatility

GGOV vs. SCHR - Volatility Comparison

The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.97%, while Schwab Intermediate-Term U.S. Treasury ETF (SCHR) has a volatility of 1.11%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than SCHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGOV	SCHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.11%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	3.61%	2.58%	+1.03%
Volatility (1Y) Calculated over the trailing 1-year period	5.29%	3.44%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.20%	5.39%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.20%	4.47%	+0.73%

GGOV vs. SCHR - Expense Ratio Comparison

GGOV has a 0.39% expense ratio, which is higher than SCHR's 0.05% expense ratio.

Dividends

GGOV vs. SCHR - Dividend Comparison

GGOV has not paid dividends to shareholders, while SCHR's dividend yield for the trailing twelve months is around 3.94%.

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%
SCHR Schwab Intermediate-Term U.S. Treasury ETF	3.94%	3.85%	3.77%	3.16%	2.02%	1.00%	1.62%	2.31%	2.11%	1.65%	1.45%	1.56%

Frequently Asked Questions

Can I hold both GGOV and SCHR in my portfolio?

GGOV and SCHR 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.

Which is riskier, GGOV or SCHR?

SCHR has higher volatility (1.11%) compared to GGOV (0.97%). In terms of maximum drawdown, GGOV dropped -4.69% vs SCHR's -16.11%.

Which ETF is better, GGOV or SCHR?

On 1-year performance, SCHR leads with 2.80% vs 0.14% for GGOV. On fees, SCHR is cheaper at 0.05% 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.

Which ETF has performed better, GGOV or SCHR?

Over the 1-year period, SCHR has performed better with a 2.80% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGOV or SCHR?

SCHR is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.

Which ETF pays a higher dividend yield, GGOV or SCHR?

SCHR has the higher dividend yield at 3.94%, compared with 0.00% for GGOV.

What is the main difference between GGOV and SCHR?

GGOV is categorized as Global Bonds, while SCHR is Government Bonds. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.39% for GGOV and 0.05% for SCHR.

Which has better risk-adjusted returns?

SCHR currently has the higher Sharpe Ratio (0.82 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.