GOVI vs. XHLF
GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) are both Government Bonds funds - GOVI tracks the ICE 1-30 Year Laddered Maturity U.S. Treasury Index while XHLF tracks the Bloomberg US Treasury 6 Month Duration Index. Both are passively managed. Over the past 3 years, GOVI returned 0.97%/yr vs 4.61%/yr for XHLF. At a 0.22 correlation, their price movements are largely independent. GOVI charges 0.15%/yr vs 0.03%/yr for XHLF.
Performance
GOVI vs. XHLF - Performance Comparison
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Returns By Period
In the year-to-date period, GOVI achieves a -0.34% return, which is significantly lower than XHLF's 1.39% return.
GOVI
- 1D
- 0.20%
- 1M
- 0.24%
- YTD
- -0.34%
- 6M
- -0.80%
- 1Y
- 3.44%
- 3Y*
- 0.97%
- 5Y*
- -2.73%
- 10Y*
- -0.05%
XHLF
- 1D
- 0.00%
- 1M
- 0.25%
- YTD
- 1.39%
- 6M
- 1.69%
- 1Y
- 3.92%
- 3Y*
- 4.61%
- 5Y*
- —
- 10Y*
- —
GOVI vs. XHLF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | -0.34% | 5.84% | -2.95% | 3.31% | -3.42% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 1.39% | 4.21% | 5.04% | 4.90% | 0.96% |
Correlation
The correlation between GOVI and XHLF is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.22 |
Over the past year, the correlation between GOVI and XHLF has dropped to 0.01 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.
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Return for Risk
GOVI vs. XHLF — Risk / Return Rank
GOVI
XHLF
GOVI vs. XHLF - 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 BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF). 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 | XHLF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.90 | ||
| Sortino ratioReturn per unit of downside risk | -45.04 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 11.75 | -10.66 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 98.81 | -98.17 |
| Martin ratioReturn relative to average drawdown | 1.76 | 670.31 | -668.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GOVI | XHLF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 12.43 | -11.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | — | — |
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 | 10.74 | -10.42 |
Drawdowns
GOVI vs. XHLF - Drawdown Comparison
The maximum GOVI drawdown since its inception was -32.70%, which is greater than XHLF's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for GOVI and XHLF.
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Drawdown Indicators
| GOVI | XHLF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -0.11% | -32.59% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -0.04% | -5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -0.06% | -11.52% |
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 | -22.22% | 0.00% | -22.22% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -0.00% | -9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 0.01% | +1.94% |
Volatility
GOVI vs. XHLF - Volatility Comparison
Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) has a higher volatility of 2.03% compared to BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at 0.08%. This indicates that GOVI's price experiences larger fluctuations and is considered to be riskier than XHLF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVI | XHLF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 0.08% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 4.54% | 0.22% | +4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.58% | 0.32% | +6.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.86% | 0.42% | +9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 0.42% | +8.68% |
GOVI vs. XHLF - Expense Ratio Comparison
GOVI has a 0.15% expense ratio, which is higher than XHLF's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVI vs. XHLF - Dividend Comparison
GOVI's dividend yield for the trailing twelve months is around 3.82%, which matches XHLF's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVI Invesco Equal Weight 0-30 Year Treasury ETF | 3.82% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | 3.85% | 3.98% | 4.96% | 4.50% | 0.86% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVI and XHLF have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVI has higher volatility (2.03%) compared to XHLF (0.08%). In terms of maximum drawdown, GOVI dropped -32.70% vs XHLF's -0.11%.
On 3-year performance, XHLF leads with 4.61% vs 0.97% for GOVI. On fees, XHLF is cheaper at 0.03% per year. On volatility, XHLF has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XHLF has performed better with a 4.61% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XHLF is cheaper with a 0.03% expense ratio, compared with 0.15% for GOVI.
XHLF has the higher dividend yield at 3.85%, compared with 3.82% for GOVI.
GOVI tracks ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while XHLF tracks Bloomberg US Treasury 6 Month Duration Index. They also come from different issuers: Invesco and BondBloxx. Their fees differ too: 0.15% for GOVI and 0.03% for XHLF.
XHLF currently has the higher Sharpe Ratio (12.43 vs 0.53), 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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