GOVT vs. GGOV
GOVT (iShares U.S. Treasury Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index, while GGOV is a Global Bonds fund managed by iShares. A 0.65 correlation means they provide meaningful diversification when combined. GOVT charges 0.05%/yr vs 0.39%/yr for GGOV.
Performance
GOVT vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, GOVT achieves a 0.11% return, which is significantly lower than GGOV's 2.75% return.
GOVT
- 1D
- 0.13%
- 1M
- 0.58%
- YTD
- 0.11%
- 6M
- 0.22%
- 1Y
- 3.14%
- 3Y*
- 2.92%
- 5Y*
- -0.48%
- 10Y*
- 0.80%
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GOVT vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 0.11% | 2.67% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
Correlation
The correlation between GOVT and GGOV is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.65 |
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Return for Risk
GOVT vs. GGOV — Risk / Return Rank
GOVT
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GOVT vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and iShares Global Government Bond USD Hedged Active ETF (GGOV). 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.
| GOVT | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.15 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | — | — |
| Martin ratioReturn relative to average drawdown | 3.01 | — | — |
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Drawdowns
GOVT vs. GGOV - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for GOVT and GGOV.
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Drawdown Indicators
| GOVT | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -4.69% | -14.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -6.97% | -1.06% | -5.91% |
Average DrawdownAverage peak-to-trough decline | -5.26% | -1.57% | -3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | — | — |
Volatility
GOVT vs. GGOV - Volatility Comparison
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Volatility by Period
| GOVT | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 5.28% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.04% | 5.28% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.22% | 5.28% | -0.06% |
GOVT vs. GGOV - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
GOVT vs. GGOV - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.58%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Frequently Asked Questions
GOVT and GGOV have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOVT is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.
GOVT has the higher dividend yield at 3.58%, compared with 0.00% for GGOV.
GOVT is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.05% for GOVT and 0.39% for GGOV.
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