GGOV vs. XTWO
GGOV (iShares Global Government Bond USD Hedged Active ETF) and XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) are both exchange-traded funds - GGOV is a Global Bonds fund managed by iShares, while XTWO is a Government Bonds fund tracking the Bloomberg US Treasury 2 Year Target Duration Index. A 0.54 correlation means they provide meaningful diversification when combined. GGOV charges 0.39%/yr vs 0.05%/yr for XTWO.
Performance
GGOV vs. XTWO - Performance Comparison
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Returns By Period
In the year-to-date period, GGOV achieves a 2.92% return, which is significantly higher than XTWO's 0.40% return.
GGOV
- 1D
- 0.16%
- 1M
- 1.44%
- YTD
- 2.92%
- 6M
- -0.48%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTWO
- 1D
- 0.09%
- 1M
- 0.26%
- YTD
- 0.40%
- 6M
- 0.51%
- 1Y
- 3.18%
- 3Y*
- 4.20%
- 5Y*
- —
- 10Y*
- —
GGOV vs. XTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.92% | -2.80% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.40% | 2.40% |
Correlation
The correlation between GGOV and XTWO is 0.54, 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 | 0.54 |
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Return for Risk
GGOV vs. XTWO — Risk / Return Rank
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XTWO
GGOV vs. XTWO - 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 Two Year Target Duration US Treasury ETF (XTWO). 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 | XTWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.47 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.51 | — |
| Martin ratioReturn relative to average drawdown | — | 12.11 | — |
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Drawdowns
GGOV vs. XTWO - Drawdown Comparison
The maximum GGOV drawdown since its inception was -4.69%, which is greater than XTWO's maximum drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for GGOV and XTWO.
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Drawdown Indicators
| GGOV | XTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -1.73% | -2.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.91% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.18% | — |
Current DrawdownCurrent decline from peak | -0.91% | -0.39% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -1.57% | -0.40% | -1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.26% | — |
Volatility
GGOV vs. XTWO - Volatility Comparison
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Volatility by Period
| GGOV | XTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.50% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.30% | 1.39% | +3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.30% | 2.16% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 2.16% | +3.14% |
GGOV vs. XTWO - Expense Ratio Comparison
GGOV has a 0.39% expense ratio, which is higher than XTWO's 0.05% expense ratio.
Dividends
GGOV vs. XTWO - Dividend Comparison
GGOV has not paid dividends to shareholders, while XTWO's dividend yield for the trailing twelve months is around 4.05%.
| 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% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 4.05% | 4.24% | 4.54% | 4.07% | 1.13% |
Frequently Asked Questions
GGOV and XTWO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTWO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTWO is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.
XTWO has the higher dividend yield at 4.05%, compared with 0.00% for GGOV.
GGOV is categorized as Global Bonds, while XTWO is Government Bonds. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.39% for GGOV and 0.05% for XTWO.
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