GGOV vs. TRSY
GGOV (iShares Global Government Bond USD Hedged Active ETF) and TRSY (Xtrackers US 0-1 Year Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while TRSY is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. GGOV is actively managed, while TRSY is passively managed. Over the past year, GGOV returned -0.42% vs 3.76% for TRSY. Their 0.09 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.06%/yr for TRSY.
Performance
GGOV vs. TRSY - 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 TRSY's 2.01% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
TRSY
- 1D
- -0.02%
- 1M
- 0.24%
- 6M
- 1.70%
- YTD
- 2.01%
- 1Y
- 3.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $1.81M | $1.33M | $1.09M |
GGOV vs. TRSY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
TRSY Xtrackers US 0-1 Year Treasury ETF | 2.01% | 2.20% |
Correlation
The correlation between GGOV and TRSY is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.09 |
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Return for Risk
GGOV vs. TRSY — Risk / Return Rank
GGOV
TRSY
GGOV vs. TRSY - 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 Xtrackers US 0-1 Year Treasury ETF (TRSY). 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 | TRSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.04 | ||
| Sortino ratioReturn per unit of downside risk | -25.46 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 5.98 | -4.99 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 56.93 | -57.02 |
| Martin ratioReturn relative to average drawdown | -0.19 | 337.54 | -337.73 |
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Drawdowns
GGOV vs. TRSY - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than TRSY's maximum drawdown of -0.82%. Use the drawdown chart below to compare losses from any high point for GGOV and TRSY.
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Drawdown Indicators
| GGOV | TRSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -0.82% | -3.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -0.07% | -4.62% |
Current DrawdownCurrent decline from peak | -1.20% | -0.04% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -0.06% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.01% | +2.14% |
Volatility
GGOV vs. TRSY - Volatility Comparison
iShares Global Government Bond USD Hedged Active ETF (GGOV) has a higher volatility of 0.78% compared to Xtrackers US 0-1 Year Treasury ETF (TRSY) at 0.12%. This indicates that GGOV's price experiences larger fluctuations and is considered to be riskier than TRSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | TRSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.12% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 0.25% | +3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 0.38% | +4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 1.07% | +4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 1.07% | +4.01% |
GGOV vs. TRSY - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than TRSY's 0.06% expense ratio.
Dividends
GGOV vs. TRSY - Dividend Comparison
GGOV has not paid dividends to shareholders, while TRSY's dividend yield for the trailing twelve months is around 3.54%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% |
TRSY Xtrackers US 0-1 Year Treasury ETF | 3.54% | 4.00% | 0.96% |
Frequently Asked Questions
GGOV and TRSY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.78%) compared to TRSY (0.12%). In terms of maximum drawdown, GGOV dropped -4.69% vs TRSY's -0.82%.
On 1-year performance, TRSY leads with 3.76% vs -0.42% for GGOV. On fees, TRSY is cheaper at 0.06% per year. On volatility, TRSY has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TRSY has performed better with a 3.76% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TRSY is cheaper with a 0.06% expense ratio, compared with 0.39% for GGOV.
TRSY has the higher dividend yield at 3.54%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while TRSY is Government Bonds. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.39% for GGOV and 0.06% for TRSY.
TRSY currently has the higher Sharpe Ratio (9.96 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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