GOVI vs. GOVZ
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 5 years, GOVI returned -2.60%/yr vs -11.18%/yr for GOVZ. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
GOVI vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a 0.99% return, which is significantly lower than GOVZ's 3.57% return.
GOVI
- 1D
- 0.87%
- 1M
- 2.26%
- YTD
- 0.99%
- 6M
- 0.58%
- 1Y
- 3.90%
- 3Y*
- 1.25%
- 5Y*
- -2.60%
- 10Y*
- -0.09%
GOVZ
- 1D
- 2.29%
- 1M
- 6.77%
- YTD
- 3.57%
- 6M
- 1.48%
- 1Y
- 4.27%
- 3Y*
- -6.85%
- 5Y*
- -11.18%
- 10Y*
- —
GOVI vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 0.99% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | -2.26% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 3.57% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
Correlation
The correlation between GOVI and GOVZ 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.96 |
The correlation between GOVI and GOVZ has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
GOVI vs. GOVZ — Risk / Return Rank
GOVI
GOVZ
GOVI vs. GOVZ - 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 iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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 | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.06 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.30 | +0.42 |
| Martin ratioReturn relative to average drawdown | 1.88 | 0.66 | +1.23 |
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Drawdowns
GOVI vs. GOVZ - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for GOVI and GOVZ.
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Drawdown Indicators
| GOVI | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -59.65% | +26.95% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -14.16% | +8.71% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -28.72% | +17.14% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -57.63% | +29.33% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | — | — |
Current DrawdownCurrent decline from peak | -21.18% | -54.49% | +33.31% |
Average DrawdownAverage peak-to-trough decline | -9.68% | -40.04% | +30.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 6.51% | -4.43% |
Volatility
GOVI vs. GOVZ - Volatility Comparison
The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.79%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.06%. This indicates that GOVI experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 4.06% | -2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.74% | 10.91% | -6.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.47% | 15.89% | -9.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 23.88% | -14.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.09% | 23.29% | -14.20% |
GOVI vs. GOVZ - Expense Ratio Comparison
Both GOVI and GOVZ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GOVI vs. GOVZ - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.79%, less than GOVZ's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.79% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 4.95% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, GOVI and GOVZ 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.
GOVZ has higher volatility (4.06%) compared to GOVI (1.79%). In terms of maximum drawdown, GOVI dropped -32.70% vs GOVZ's -59.65%.
On 5-year performance, GOVI leads with -2.60% vs -11.18% for GOVZ. Both ETFs have the same 0.15% expense ratio. On volatility, GOVI has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GOVI has performed better with a -2.60% return vs -11.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVI and GOVZ have the same expense ratio: 0.15% per year.
GOVZ has the higher dividend yield at 4.95%, compared with 3.79% for GOVI.
GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. They also come from different issuers: Invesco and iShares.
GOVI currently has the higher Sharpe Ratio (0.61 vs 0.27), 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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