GGOV vs. USFR
GGOV (iShares Global Government Bond USD Hedged Active ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. GGOV is actively managed, while USFR is passively managed. Over the past year, GGOV returned -0.31% vs 3.97% for USFR. Their 0.03 correlation means their historical movements had little consistent relationship. GGOV charges 0.39%/yr vs 0.15%/yr for USFR.
Performance
GGOV vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.79% return, which is significantly higher than USFR's 2.31% return.
GGOV
- 1D
- -0.28%
- 1M
- 0.07%
- 6M
- 3.40%
- YTD
- 2.79%
- 1Y
- -0.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.07%
USFR
- 1D
- 0.02%
- 1M
- 0.36%
- 6M
- 1.91%
- YTD
- 2.31%
- 1Y
- 3.97%
- 3Y*
- 4.68%
- 5Y*
- 3.82%
- 10Y*
- 2.48%
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.93M | $62.66M | $80.75M | |
| $364.75M | $267.80M | $250.84M |
GGOV vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.79% | -2.80% |
USFR WisdomTree Floating Rate Treasury Fund | 2.31% | 2.11% |
Correlation
The correlation between GGOV and USFR is 0.00, 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. | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.03 |
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Return for Risk
GGOV vs. USFR — Risk / Return Rank
GGOV
USFR
GGOV vs. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.70 | ||
| Sortino ratioReturn per unit of downside risk | -51.64 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 14.07 | -13.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 200.37 | -200.44 |
| Martin ratioReturn relative to average drawdown | -0.14 | 800.41 | -800.55 |
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Drawdowns
GGOV vs. USFR - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for GGOV and USFR.
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Drawdown Indicators
| GGOV | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -1.36% | -3.33% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -0.02% | -4.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -1.02% | 0.00% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -0.15% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.00% | +2.15% |
Volatility
GGOV vs. USFR - Volatility Comparison
iShares Global Government Bond USD Hedged Active ETF (GGOV) has a higher volatility of 0.92% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that GGOV's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 0.09% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 0.20% | +3.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 0.27% | +4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.09% | 0.39% | +4.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 0.76% | +4.33% |
GGOV vs. USFR - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
GGOV vs. USFR - Dividend Comparison
GGOV has not paid dividends to shareholders, while USFR's dividend yield for the trailing twelve months is around 3.79%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USFR WisdomTree Floating Rate Treasury Fund | 3.79% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
GGOV and USFR have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.92%) compared to USFR (0.09%). In terms of maximum drawdown, GGOV dropped -4.69% vs USFR's -1.36%.
On 1-year performance, USFR leads with 3.97% vs -0.31% for GGOV. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USFR has performed better with a 3.97% return vs -0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
USFR has the higher dividend yield at 3.79%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while USFR is Government Bonds. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.39% for GGOV and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.64 vs -0.06), 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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