GOVI vs. UTHY
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and UTHY (US Treasury 30 Year Bond ETF) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, GOVI returned 1.08%/yr vs -2.15%/yr for UTHY. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.15% expense ratio.
Performance
GOVI vs. UTHY - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a -2.29% return, which is significantly higher than UTHY's -3.52% return.
GOVI
- 1D
- -0.45%
- 1M
- -2.40%
- 6M
- -2.30%
- YTD
- -2.29%
- 1Y
- -0.55%
- 3Y*
- 1.08%
- 5Y*
- -3.88%
- 10Y*
- -0.51%
- ALL TIME*
- 2.87%
UTHY
- 1D
- -0.59%
- 1M
- -3.91%
- 6M
- -3.34%
- YTD
- -3.52%
- 1Y
- -2.36%
- 3Y*
- -2.15%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.66M | $4.82M | $7.27M | |
| $6.52M | $5.25M | $5.75M |
GOVI vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -2.29% | 5.84% | -2.95% | -0.54% |
UTHY US Treasury 30 Year Bond ETF | -3.52% | 3.47% | -8.07% | -2.77% |
Correlation
The correlation between GOVI and UTHY is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.98 |
The correlation between GOVI and UTHY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
GOVI vs. UTHY — Risk / Return Rank
GOVI
UTHY
GOVI vs. UTHY - 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 US Treasury 30 Year Bond ETF (UTHY). 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 | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.99 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.14 | +0.26 |
| Martin ratioReturn relative to average drawdown | 0.26 | -0.31 | +0.57 |
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Drawdowns
GOVI vs. UTHY - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for GOVI and UTHY.
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Drawdown Indicators
| GOVI | UTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -21.86% | -10.84% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -7.41% | +1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -9.49% | -14.90% | +5.41% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | — | — |
Current DrawdownCurrent decline from peak | -23.74% | -14.25% | -9.49% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -10.75% | +1.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 3.40% | -1.03% |
Volatility
GOVI vs. UTHY - Volatility Comparison
The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.63%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.33%. This indicates that GOVI experiences smaller price fluctuations and is considered to be less risky than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 2.33% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 4.85% | 6.60% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 8.98% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.81% | 13.46% | -3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 13.46% | -4.39% |
GOVI vs. UTHY - Expense Ratio Comparison
Both GOVI and UTHY 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. UTHY - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.95%, less than UTHY's 5.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.95% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
UTHY US Treasury 30 Year Bond ETF | 4.86% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, GOVI and UTHY 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.
UTHY has higher volatility (2.33%) compared to GOVI (1.63%). In terms of maximum drawdown, GOVI dropped -32.70% vs UTHY's -21.86%.
On 3-year performance, GOVI leads with 1.08% vs -2.15% for UTHY. Both ETFs have the same 0.15% expense ratio. On volatility, GOVI has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GOVI has performed better with a 1.08% return vs -2.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVI and UTHY have the same expense ratio: 0.15% per year.
UTHY has the higher dividend yield at 4.86%, compared with 3.95% for GOVI.
GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: Invesco and US Benchmark Series.
GOVI currently has the higher Sharpe Ratio (0.10 vs -0.12), 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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