GGOV vs. SHY
GGOV (iShares Global Government Bond USD Hedged Active ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. A 0.56 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.15%/yr for SHY.
Performance
GGOV vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.73% return, which is significantly higher than SHY's 0.36% return.
GGOV
- 1D
- -0.18%
- 1M
- 0.58%
- YTD
- 2.73%
- 6M
- 2.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHY
- 1D
- -0.10%
- 1M
- 0.04%
- YTD
- 0.36%
- 6M
- 0.48%
- 1Y
- 2.93%
- 3Y*
- 4.07%
- 5Y*
- 1.74%
- 10Y*
- 1.61%
GGOV vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.73% | -2.80% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.36% | 2.33% |
Correlation
The correlation between GGOV and SHY is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.56 |
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Return for Risk
GGOV vs. SHY — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHY
GGOV vs. SHY - 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 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.31 | — |
| Martin ratioReturn relative to average drawdown | — | 12.93 | — |
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Drawdowns
GGOV vs. SHY - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum SHY drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for GGOV and SHY.
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Drawdown Indicators
| GGOV | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -5.71% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.89% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -1.08% | -0.38% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -0.52% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.23% | — |
Volatility
GGOV vs. SHY - Volatility Comparison
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Volatility by Period
| GGOV | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.49% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 1.37% | +3.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 1.99% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.29% | 1.57% | +3.72% |
GGOV vs. SHY - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
GGOV vs. SHY - Dividend Comparison
GGOV has not paid dividends to shareholders, while SHY's dividend yield for the trailing twelve months is around 3.69%.
| 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% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
GGOV and SHY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHY is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
SHY has the higher dividend yield at 3.69%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while SHY is Government Bonds. Their fees differ too: 0.39% for GGOV and 0.15% for SHY.
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