GGOV vs. XTRE
GGOV (iShares Global Government Bond USD Hedged Active ETF) and XTRE (BondBloxx Bloomberg Three Year Target Duration US Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund actively managed by iShares, while XTRE is a Government Bonds fund tracking the Bloomberg US Treasury 3 Year Target Duration Index. GGOV is actively managed, while XTRE is passively managed. Over the past year, GGOV returned -0.42% vs 1.90% for XTRE. Their 0.58 correlation means they have sometimes moved together and sometimes differently. GGOV charges 0.39%/yr vs 0.05%/yr for XTRE.
Performance
GGOV vs. XTRE - 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 XTRE's 0.12% return.
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
XTRE
- 1D
- 0.07%
- 1M
- -0.13%
- 6M
- 0.09%
- YTD
- 0.12%
- 1Y
- 1.90%
- 3Y*
- 4.04%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $3.76M | $3.13M | $2.75M |
GGOV vs. XTRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 0.12% | 2.49% |
Correlation
The correlation between GGOV and XTRE is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.58 |
The correlation between GGOV and XTRE has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
GGOV vs. XTRE — Risk / Return Rank
GGOV
XTRE
GGOV vs. XTRE - 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 BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE). 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 | XTRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.16 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 1.25 | -1.34 |
| Martin ratioReturn relative to average drawdown | -0.19 | 2.88 | -3.08 |
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Drawdowns
GGOV vs. XTRE - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than XTRE's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for GGOV and XTRE.
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Drawdown Indicators
| GGOV | XTRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -2.89% | -1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -1.53% | -3.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.00% | — |
Current DrawdownCurrent decline from peak | -1.20% | -0.96% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -0.84% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.66% | +1.49% |
Volatility
GGOV vs. XTRE - Volatility Comparison
iShares Global Government Bond USD Hedged Active ETF (GGOV) has a higher volatility of 0.78% compared to BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) at 0.52%. This indicates that GGOV's price experiences larger fluctuations and is considered to be riskier than XTRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGOV | XTRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.52% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 1.66% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 2.03% | +3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 3.28% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 3.28% | +1.80% |
GGOV vs. XTRE - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than XTRE's 0.05% expense ratio.
Dividends
GGOV vs. XTRE - Dividend Comparison
GGOV has not paid dividends to shareholders, while XTRE's dividend yield for the trailing twelve months is around 4.03%.
| 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% |
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 4.03% | 3.85% | 4.19% | 3.97% | 1.16% |
Frequently Asked Questions
GGOV and XTRE have a correlation of 0.56, 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 XTRE (0.52%). In terms of maximum drawdown, GGOV dropped -4.69% vs XTRE's -2.89%.
On 1-year performance, XTRE leads with 1.90% vs -0.42% for GGOV. On fees, XTRE is cheaper at 0.05% per year. On volatility, XTRE has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XTRE has performed better with a 1.90% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTRE is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.
XTRE has the higher dividend yield at 4.03%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while XTRE is Government Bonds. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.39% for GGOV and 0.05% for XTRE.
XTRE currently has the higher Sharpe Ratio (0.94 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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