GGOV vs. SOXX

Last updated Aug 4, 2026

GGOV (iShares Global Government Bond USD Hedged Active ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. GGOV is actively managed, while SOXX is passively managed. Over the past year, GGOV returned -0.42% vs 114.99% for SOXX. Their 0.10 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.34%/yr for SOXX.

Performance

GGOV vs. SOXX - 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 iShares Semiconductor ETF (SOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGOV achieves a 2.61% return, which is significantly lower than SOXX's 68.76% return.

GGOV

• 1D: 0.12%
• 1M: -0.10%
• 6M: 3.17%
• YTD: 2.61%
• 1Y: -0.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.23%

SOXX

• 1D: 0.55%
• 1M: -10.35%
• 6M: 44.10%
• YTD: 68.76%
• 1Y: 114.99%
• 3Y*: 44.68%
• 5Y*: 27.63%
• 10Y*: 31.96%
• ALL TIME*: 13.85%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GGOV iShares Global Government Bond USD Hedged Active ETF	$49.16M	$62.50M	$78.51M
SOXX iShares Semiconductor ETF	$6.22B	$5.65B	$5.89B

GGOV vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025
GGOV iShares Global Government Bond USD Hedged Active ETF	2.61%	-2.80%
SOXX iShares Semiconductor ETF	68.76%	27.41%

Correlation

The correlation between GGOV and SOXX is 0.13, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.13
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.10

Return for Risk

GGOV vs. SOXX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GGOV

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

SOXX

SOXX Risk / Return Rank: 90
SOXX Sharpe Ratio Rank: 94
SOXX Sortino Ratio Rank: 85
SOXX Omega Ratio Rank: 87
SOXX Calmar Ratio Rank: 91
SOXX Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GGOV vs. SOXX - 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 Semiconductor ETF (SOXX). 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	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	2.61	-2.69
Sortino ratio: Return per unit of downside risk	-0.07	2.89	-2.96
Omega ratio: Gain probability vs. loss probability	0.99	1.39	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.09	3.99	-4.08
Martin ratio: Return relative to average drawdown	-0.19	16.43	-16.63

GGOV vs. SOXX - Sharpe Ratio Comparison

The current GGOV Sharpe Ratio is -0.08, which is lower than the SOXX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of GGOV and SOXX, 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. SOXX - Drawdown Comparison

The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for GGOV and SOXX.

Drawdown Indicators

	GGOV	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-4.69%	-70.21%	+65.52%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	-29.01%	+24.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.75%	—
Current Drawdown Current decline from peak	-1.20%	-22.49%	+21.29%
Average Drawdown Average peak-to-trough decline	-1.54%	-19.92%	+18.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	7.02%	-4.87%

Volatility

GGOV vs. SOXX - Volatility Comparison

The current volatility for iShares Global Government Bond USD Hedged Active ETF (GGOV) is 0.78%, while iShares Semiconductor ETF (SOXX) has a volatility of 17.11%. This indicates that GGOV experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGOV	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	17.11%	-16.33%
Volatility (6M) Calculated over the trailing 6-month period	3.57%	38.66%	-35.09%
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	44.40%	-39.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.08%	38.25%	-33.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.08%	34.55%	-29.47%

GGOV vs. SOXX - Expense Ratio Comparison

GGOV has a 0.39% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

GGOV vs. SOXX - Dividend Comparison

GGOV has not paid dividends to shareholders, while SOXX's dividend yield for the trailing twelve months is around 0.29%.

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%
SOXX iShares Semiconductor ETF	0.29%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both GGOV and SOXX in my portfolio?

GGOV and SOXX have a correlation of 0.13, 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 SOXX?

SOXX has higher volatility (17.11%) compared to GGOV (0.78%). In terms of maximum drawdown, GGOV dropped -4.69% vs SOXX's -70.21%.

Which ETF is better, GGOV or SOXX?

On 1-year performance, SOXX leads with 114.99% vs -0.42% for GGOV. On fees, SOXX is cheaper at 0.34% 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.

Which ETF has performed better, GGOV or SOXX?

Over the 1-year period, SOXX has performed better with a 114.99% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGOV or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.39% for GGOV.

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

SOXX has the higher dividend yield at 0.29%, compared with 0.00% for GGOV.

What is the main difference between GGOV and SOXX?

GGOV is categorized as Global Bonds, while SOXX is Semiconductors. Their fees differ too: 0.39% for GGOV and 0.34% for SOXX.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (2.61 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.