GOVI vs. BOND
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and BOND (PIMCO Active Bond 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 BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. GOVI is passively managed, while BOND is actively managed. Over the past 10 years, GOVI returned -0.20%/yr vs 2.15%/yr for BOND. Their correlation of 0.81 suggests significant overlap in exposure. GOVI charges 0.15%/yr vs 0.54%/yr for BOND.
Performance
GOVI vs. BOND - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a -0.10% return, which is significantly lower than BOND's 0.65% return. Over the past 10 years, GOVI has underperformed BOND with an annualized return of -0.20%, while BOND has yielded a comparatively higher 2.15% annualized return.
GOVI
- 1D
- -0.53%
- 1M
- 1.16%
- YTD
- -0.10%
- 6M
- -0.06%
- 1Y
- 3.61%
- 3Y*
- 0.88%
- 5Y*
- -2.91%
- 10Y*
- -0.20%
BOND
- 1D
- -0.33%
- 1M
- 0.77%
- YTD
- 0.65%
- 6M
- 0.84%
- 1Y
- 5.88%
- 3Y*
- 5.07%
- 5Y*
- 0.46%
- 10Y*
- 2.15%
GOVI vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -0.10% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
BOND PIMCO Active Bond ETF | 0.65% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Correlation
The correlation between GOVI and BOND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2012 | 0.81 |
The correlation between GOVI and BOND shifts across timeframes, from 0.81 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GOVI vs. BOND — Risk / Return Rank
GOVI
BOND
GOVI vs. BOND - 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 PIMCO Active Bond ETF (BOND). 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 | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.26 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.96 | -1.30 |
| Martin ratioReturn relative to average drawdown | 1.75 | 5.93 | -4.18 |
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Drawdowns
GOVI vs. BOND - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than BOND's maximum drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for GOVI and BOND.
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Drawdown Indicators
| GOVI | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -19.71% | -12.99% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -3.01% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -6.12% | -5.46% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -19.71% | -8.59% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -19.71% | -12.99% |
Current DrawdownCurrent decline from peak | -22.04% | -1.40% | -20.64% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -3.50% | -6.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 0.99% | +1.07% |
Volatility
GOVI vs. BOND - Volatility Comparison
Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) has a higher volatility of 1.62% compared to PIMCO Active Bond ETF (BOND) at 1.35%. This indicates that GOVI's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.35% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 3.05% | +1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.43% | 3.99% | +2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.85% | 5.78% | +4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 5.10% | +4.00% |
GOVI vs. BOND - Expense Ratio Comparison
GOVI has a 0.15% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
GOVI vs. BOND - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 4.16%, less than BOND's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOND PIMCO Active Bond ETF | 5.18% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 4.16% | 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 0.94, GOVI and BOND 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 BOND (1.35%). In terms of maximum drawdown, GOVI dropped -32.70% vs BOND's -19.71%.
On 10-year performance, BOND leads with 2.15% vs -0.20% for GOVI. On fees, GOVI is cheaper at 0.15% per year. On volatility, BOND has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOND has performed better with a 2.15% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVI is cheaper with a 0.15% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.18%, compared with 4.16% for GOVI.
GOVI is categorized as Government Bonds, while BOND is Intermediate Core-Plus Bond. They also come from different issuers: Invesco and PIMCO. Their fees differ too: 0.15% for GOVI and 0.54% for BOND.
BOND currently has the higher Sharpe Ratio (1.49 vs 0.56), 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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