GOVT vs. GGOV

Last updated Jun 4, 2026

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

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Treasury Bond ETF (GOVT) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOVT achieves a -0.11% return, which is significantly lower than GGOV's 2.30% return.

GOVT

• 1D: -0.18%
• 1M: 0.11%
• YTD: -0.11%
• 6M: -0.34%
• 1Y: 3.87%
• 3Y*: 2.83%
• 5Y*: -0.45%
• 10Y*: 0.87%

GGOV

• 1D: -0.16%
• 1M: 0.60%
• YTD: 2.30%
• 6M: -1.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GOVT vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
GOVT iShares U.S. Treasury Bond ETF	-0.11%	2.42%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.30%	-2.81%

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 27, 2025	0.65

Return for Risk

GOVT vs. GGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GOVT

GOVT Risk / Return Rank: 28
GOVT Sharpe Ratio Rank: 29
GOVT Sortino Ratio Rank: 29
GOVT Omega Ratio Rank: 27
GOVT Calmar Ratio Rank: 28
GOVT Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	GOVT	GGOV	Difference
Sharpe ratio Return per unit of total volatility	1.07	—	—
Sortino ratio Return per unit of downside risk	1.62	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.36	—	—
Martin ratio Return relative to average drawdown	4.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GOVT	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	-0.11	+0.37

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.

Drawdown Indicators

	GOVT	GGOV	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-7.17%	-1.50%	-5.67%
Average Drawdown Average peak-to-trough decline	-5.25%	-1.59%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	—	—

Volatility

Volatility by Period

	GOVT	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	5.38%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.04%	5.38%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	5.38%	-0.16%

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 3.59%, 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	3.59%	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

Can I hold both GOVT and GGOV in my portfolio?

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.

Which ETF is better, GOVT or GGOV?

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.

Which ETF is cheaper, GOVT or GGOV?

GOVT is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.

Which ETF pays a higher dividend yield, GOVT or GGOV?

GOVT has the higher dividend yield at 3.59%, compared with 0.00% for GGOV.

What is the main difference between GOVT and 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.