GOVI vs. FAAR
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and FAAR (First Trust Alternative Absolute Return Strategy 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 FAAR is a Commodities fund actively managed by First Trust. GOVI is passively managed, while FAAR is actively managed. Over the past 10 years, GOVI returned -0.20%/yr vs 4.79%/yr for FAAR. At a correlation of -0.09, they often move in opposite directions. GOVI charges 0.15%/yr vs 0.95%/yr for FAAR.
Performance
GOVI vs. FAAR - 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 FAAR's 20.23% return. Over the past 10 years, GOVI has underperformed FAAR with an annualized return of -0.20%, while FAAR has yielded a comparatively higher 4.79% 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%
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
GOVI vs. FAAR - 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% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between GOVI and FAAR is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | -0.09 |
Over the past year, the inverse relationship between GOVI and FAAR has strengthened: their correlation has moved from -0.09 to -0.29, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GOVI vs. FAAR — Risk / Return Rank
GOVI
FAAR
GOVI vs. FAAR - 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 First Trust Alternative Absolute Return Strategy ETF (FAAR). 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 | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.35 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 4.75 | -4.08 |
| Martin ratioReturn relative to average drawdown | 1.75 | 14.70 | -12.95 |
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Drawdowns
GOVI vs. FAAR - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for GOVI and FAAR.
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Drawdown Indicators
| GOVI | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -18.03% | -14.67% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -5.68% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -11.54% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -18.03% | -10.27% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -18.03% | -14.67% |
Current DrawdownCurrent decline from peak | -22.04% | -5.43% | -16.61% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -7.82% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 1.89% | +0.17% |
Volatility
GOVI vs. FAAR - Volatility Comparison
The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.62%, while First Trust Alternative Absolute Return Strategy ETF (FAAR) has a volatility of 2.47%. This indicates that GOVI experiences smaller price fluctuations and is considered to be less risky than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 2.47% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 9.68% | -5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.43% | 13.37% | -6.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.85% | 12.95% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 11.53% | -2.43% |
GOVI vs. FAAR - Expense Ratio Comparison
GOVI has a 0.15% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
GOVI vs. FAAR - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 4.16%, less than FAAR's 9.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% | 0.00% | 0.00% |
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
GOVI and FAAR have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAAR has higher volatility (2.47%) compared to GOVI (1.62%). In terms of maximum drawdown, GOVI dropped -32.70% vs FAAR's -18.03%.
On 10-year performance, FAAR leads with 4.79% vs -0.20% for GOVI. On fees, GOVI is cheaper at 0.15% per year. On volatility, GOVI has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAAR has performed better with a 4.79% 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 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 4.16% for GOVI.
GOVI is categorized as Government Bonds, while FAAR is Commodities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.15% for GOVI and 0.95% for FAAR.
FAAR currently has the higher Sharpe Ratio (2.02 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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