GGOV vs. SLV
GGOV (iShares Global Government Bond USD Hedged Active ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while SLV is a Silver fund tracking the LBMA Silver Price. GGOV is actively managed, while SLV is passively managed. Over the past year, GGOV returned -0.42% vs 56.18% for SLV. Their 0.11 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.50%/yr for SLV.
Performance
GGOV vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.61% return, which is significantly higher than SLV's -18.57% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
SLV
- 1D
- 0.19%
- 1M
- -4.65%
- 6M
- -27.58%
- YTD
- -18.57%
- 1Y
- 56.18%
- 3Y*
- 34.29%
- 5Y*
- 17.38%
- 10Y*
- 10.86%
- ALL TIME*
- 7.17%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $713.72M | $758.23M | $1.25B |
GGOV vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
SLV iShares Silver Trust | -18.57% | 95.15% |
Correlation
The correlation between GGOV and SLV is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
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. SLV — Risk / Return Rank
GGOV
SLV
GGOV vs. SLV - 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 Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.21 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 1.08 | -1.17 |
| Martin ratioReturn relative to average drawdown | -0.19 | 2.05 | -2.24 |
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Drawdowns
GGOV vs. SLV - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for GGOV and SLV.
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Drawdown Indicators
| GGOV | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -76.28% | +71.59% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -52.28% | +47.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -52.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -52.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.28% | — |
Current DrawdownCurrent decline from peak | -1.20% | -50.32% | +49.12% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -44.68% | +43.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 27.49% | -25.34% |
Volatility
GGOV vs. SLV - Volatility Comparison
The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares Silver Trust (SLV) has a volatility of 10.86%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 10.86% | -10.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 44.32% | -40.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 61.47% | -56.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 36.98% | -31.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 32.23% | -27.15% |
GGOV vs. SLV - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
GGOV vs. SLV - Dividend Comparison
Neither GGOV nor SLV has paid dividends to shareholders.
Frequently Asked Questions
GGOV and SLV have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (10.86%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs SLV's -76.28%.
On 1-year performance, SLV leads with 56.18% vs -0.42% for GGOV. On fees, GGOV is cheaper at 0.39% per year. On volatility, GGOV has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLV has performed better with a 56.18% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGOV is cheaper with a 0.39% expense ratio, compared with 0.50% for SLV.
GGOV and SLV have nearly identical dividend yields, around 0.00%.
GGOV is categorized as Global Bonds, while SLV is Silver. Their fees differ too: 0.39% for GGOV and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.92 vs -0.08), 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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