GGOV vs. SHV
GGOV (iShares Global Government Bond USD Hedged Active ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. At a 0.11 correlation, their price movements are largely independent. GGOV charges 0.39%/yr vs 0.15%/yr for SHV.
Performance
GGOV vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.84% return, which is significantly higher than SHV's 1.61% return.
GGOV
- 1D
- 0.09%
- 1M
- 0.69%
- YTD
- 2.84%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- 0.01%
- 1M
- 0.27%
- YTD
- 1.61%
- 6M
- 1.69%
- 1Y
- 3.83%
- 3Y*
- 4.61%
- 5Y*
- 3.36%
- 10Y*
- 2.24%
GGOV vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.84% | -2.80% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.61% | 2.18% |
Correlation
The correlation between GGOV and SHV is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.11 |
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Return for Risk
GGOV vs. SHV — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHV
GGOV vs. SHV - 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 0-1 Year Treasury Bond ETF (SHV). 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 | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 35.59 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 141.48 | — |
| Martin ratioReturn relative to average drawdown | — | 1,585.42 | — |
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Drawdowns
GGOV vs. SHV - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for GGOV and SHV.
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Drawdown Indicators
| GGOV | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -0.45% | -4.24% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.03% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.98% | 0.00% | -0.98% |
Average DrawdownAverage peak-to-trough decline | -1.56% | -0.03% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.00% | — |
Volatility
GGOV vs. SHV - Volatility Comparison
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Volatility by Period
| GGOV | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.07% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.27% | 0.21% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 0.29% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 0.28% | +4.99% |
GGOV vs. SHV - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than SHV's 0.15% expense ratio.
Dividends
GGOV vs. SHV - Dividend Comparison
GGOV has not paid dividends to shareholders, while SHV's dividend yield for the trailing twelve months is around 3.83%.
| 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% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
GGOV and SHV have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHV is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
SHV has the higher dividend yield at 3.83%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while SHV is Government Bonds. Their fees differ too: 0.39% for GGOV and 0.15% for SHV.
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