GOVI vs. BND
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - GOVI is a Government Bonds fund tracking the ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, GOVI returned -0.18%/yr vs 1.56%/yr for BND. Their correlation of 0.88 suggests significant overlap in exposure. GOVI charges 0.15%/yr vs 0.03%/yr for BND.
Performance
GOVI vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a 0.12% return, which is significantly lower than BND's 0.49% return. Over the past 10 years, GOVI has underperformed BND with an annualized return of -0.18%, while BND has yielded a comparatively higher 1.56% annualized return.
GOVI
- 1D
- 0.22%
- 1M
- 1.38%
- YTD
- 0.12%
- 6M
- 0.10%
- 1Y
- 3.50%
- 3Y*
- 0.96%
- 5Y*
- -2.89%
- 10Y*
- -0.18%
BND
- 1D
- 0.11%
- 1M
- 0.64%
- YTD
- 0.49%
- 6M
- 0.57%
- 1Y
- 4.23%
- 3Y*
- 3.96%
- 5Y*
- 0.05%
- 10Y*
- 1.56%
GOVI vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 0.12% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
BND Vanguard Total Bond Market ETF | 0.49% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between GOVI and BND is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.88 |
The correlation between GOVI and BND has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.
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Return for Risk
GOVI vs. BND — Risk / Return Rank
GOVI
BND
GOVI vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) and Vanguard Total Bond Market ETF (BND). 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.
| GOVI | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.20 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 1.59 | -0.94 |
| Martin ratioReturn relative to average drawdown | 1.69 | 4.52 | -2.83 |
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Drawdowns
GOVI vs. BND - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for GOVI and BND.
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Drawdown Indicators
| GOVI | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -18.58% | -14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -2.68% | -2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -5.92% | -5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -17.91% | -10.39% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -18.58% | -14.12% |
Current DrawdownCurrent decline from peak | -21.86% | -2.15% | -19.71% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -3.06% | -6.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 0.94% | +1.13% |
Volatility
GOVI vs. BND - Volatility Comparison
Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) has a higher volatility of 1.62% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that GOVI's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.08% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 2.77% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.42% | 3.74% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.85% | 6.03% | +3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 5.53% | +3.56% |
GOVI vs. BND - Expense Ratio Comparison
GOVI has a 0.15% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVI vs. BND - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.82%, less than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.82% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
Frequently Asked Questions
With a correlation of 0.96, GOVI and BND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GOVI has higher volatility (1.62%) compared to BND (1.08%). In terms of maximum drawdown, GOVI dropped -32.70% vs BND's -18.58%.
On 10-year performance, BND leads with 1.56% vs -0.18% for GOVI. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BND has performed better with a 1.56% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVI.
BND has the higher dividend yield at 3.96%, compared with 3.82% for GOVI.
GOVI is categorized as Government Bonds, while BND is Total Bond Market. GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.15% for GOVI and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.14 vs 0.55), 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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