GGOV vs. UTEN
GGOV (iShares Global Government Bond USD Hedged Active ETF) and UTEN (US Treasury 10 Year Note ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while UTEN is a Government Bonds fund tracking the ICE BofA Current 10 Year US Treasury Index - Benchmark TR Gross. A 0.64 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.15%/yr for UTEN.
Performance
GGOV vs. UTEN - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.75% return, which is significantly higher than UTEN's -0.46% return.
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTEN
- 1D
- 0.12%
- 1M
- 0.82%
- YTD
- -0.46%
- 6M
- -0.40%
- 1Y
- 3.23%
- 3Y*
- 2.00%
- 5Y*
- —
- 10Y*
- —
GGOV vs. UTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
UTEN US Treasury 10 Year Note ETF | -0.46% | 3.26% |
Correlation
The correlation between GGOV and UTEN is 0.64, 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 | 0.64 |
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Return for Risk
GGOV vs. UTEN — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UTEN
GGOV vs. UTEN - 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 US Treasury 10 Year Note ETF (UTEN). 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 | UTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.11 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.71 | — |
| Martin ratioReturn relative to average drawdown | — | 1.96 | — |
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Drawdowns
GGOV vs. UTEN - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, smaller than the maximum UTEN drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for GGOV and UTEN.
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Drawdown Indicators
| GGOV | UTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -13.36% | +8.67% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.57% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -8.60% | — |
Current DrawdownCurrent decline from peak | -1.06% | -2.82% | +1.76% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -4.80% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.65% | — |
Volatility
GGOV vs. UTEN - Volatility Comparison
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Volatility by Period
| GGOV | UTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.47% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.79% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 5.16% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 8.02% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 8.02% | -2.74% |
GGOV vs. UTEN - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than UTEN's 0.15% expense ratio.
Dividends
GGOV vs. UTEN - Dividend Comparison
GGOV has not paid dividends to shareholders, while UTEN's dividend yield for the trailing twelve months is around 4.04%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UTEN US Treasury 10 Year Note ETF | 4.04% | 4.11% | 4.13% | 3.62% | 1.39% |
Frequently Asked Questions
GGOV and UTEN have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UTEN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTEN is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
UTEN has the higher dividend yield at 4.04%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while UTEN is Government Bonds. They also come from different issuers: iShares and US Benchmark Series. Their fees differ too: 0.39% for GGOV and 0.15% for UTEN.
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