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 0.71%/yr vs -2.33%/yr for UTHY. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
GOVI vs. UTHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GOVI achieves a -0.84% return, which is significantly lower than UTHY's -0.56% return.
GOVI
- 1D
- -0.50%
- 1M
- -0.90%
- YTD
- -0.84%
- 6M
- -1.01%
- 1Y
- 3.03%
- 3Y*
- 0.71%
- 5Y*
- -2.83%
- 10Y*
- -0.11%
UTHY
- 1D
- -0.49%
- 1M
- -0.68%
- YTD
- -0.56%
- 6M
- -1.13%
- 1Y
- 2.51%
- 3Y*
- -2.33%
- 5Y*
- —
- 10Y*
- —
GOVI vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -0.84% | 5.84% | -2.95% | -0.51% |
UTHY US Treasury 30 Year Bond ETF | -0.56% | 3.47% | -8.07% | -2.67% |
Correlation
The correlation between GOVI and UTHY is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 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.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| GOVI | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.05 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.34 | +0.21 |
| Martin ratioReturn relative to average drawdown | 1.54 | 0.86 | +0.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| GOVI | UTHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.47 | 0.27 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -0.19 | +0.50 |
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.
Loading charts...
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% | -7.34% | +1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -18.58% | +7.00% |
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 | -22.61% | -11.63% | -10.98% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -10.72% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.93% | -0.96% |
Volatility
GOVI vs. UTHY - Volatility Comparison
The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.98%, while US Treasury 30 Year Bond ETF (UTHY) has a volatility of 2.62%. 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.
Loading charts...
Volatility by Period
| GOVI | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 2.62% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 6.23% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 9.30% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 13.64% | -3.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 13.64% | -4.54% |
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 3.84%, less than UTHY's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.84% | 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 | 4.65% | 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 (2.62%) compared to GOVI (1.98%). In terms of maximum drawdown, GOVI dropped -32.70% vs UTHY's -21.86%.
On 3-year performance, GOVI leads with 0.71% vs -2.33% for UTHY. Both ETFs have the same 0.15% expense ratio. On volatility, GOVI has been the lower-risk option at 1.98%. 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 0.71% return vs -2.33%. 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 4.65%, compared with 3.84% 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 (0.47 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.
Find the right allocation for GOVI and UTHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer