GOVT vs. GOVZ
GOVT (iShares U.S. Treasury Bond ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds from iShares - GOVT tracks the ICE U.S. Treasury Core Bond Index while GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 5 years, GOVT returned -0.94%/yr vs -14.32%/yr for GOVZ. Their correlation of 0.89 means they have usually moved in the same direction. GOVT charges 0.05%/yr vs 0.15%/yr for GOVZ.
Performance
GOVT vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, GOVT achieves a -0.74% return, which is significantly higher than GOVZ's -6.93% return.
GOVT
- 1D
- -0.24%
- 1M
- -1.06%
- 6M
- -0.78%
- YTD
- -0.74%
- 1Y
- 1.07%
- 3Y*
- 3.05%
- 5Y*
- -0.94%
- 10Y*
- 0.68%
- ALL TIME*
- 1.18%
GOVZ
- 1D
- -1.06%
- 1M
- -6.91%
- 6M
- -6.43%
- YTD
- -6.93%
- 1Y
- -7.36%
- 3Y*
- -8.06%
- 5Y*
- -14.32%
- 10Y*
- —
- ALL TIME*
- -14.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.09M | $164.37M | $191.03M | |
| $6.61M | $6.41M | $8.12M |
GOVT vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | -0.74% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | -1.46% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.93% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
Correlation
The correlation between GOVT and GOVZ is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.89 |
The correlation between GOVT and GOVZ has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
GOVT vs. GOVZ — Risk / Return Rank
GOVT
GOVZ
GOVT vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Treasury Bond ETF (GOVT) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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 | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.95 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | -0.40 | +1.08 |
| Martin ratioReturn relative to average drawdown | 1.61 | -0.81 | +2.42 |
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Drawdowns
GOVT vs. GOVZ - Drawdown Comparison
The maximum GOVT drawdown since its inception was -19.07%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for GOVT and GOVZ.
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Drawdown Indicators
| GOVT | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -59.65% | +40.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -14.87% | +12.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -26.42% | +21.52% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -57.63% | +41.03% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | — | — |
Current DrawdownCurrent decline from peak | -7.75% | -59.10% | +51.35% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -40.34% | +35.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 7.27% | -6.07% |
Volatility
GOVT vs. GOVZ - Volatility Comparison
The current volatility for iShares U.S. Treasury Bond ETF (GOVT) is 0.95%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.48%. This indicates that GOVT experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVT | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 4.48% | -3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 11.11% | -8.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 15.58% | -12.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 23.80% | -17.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 23.18% | -17.97% |
GOVT vs. GOVZ - Expense Ratio Comparison
GOVT has a 0.05% expense ratio, which is lower than GOVZ's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GOVT vs. GOVZ - Dividend Comparison
GOVT's dividend yield for the trailing twelve months is around 3.63%, less than GOVZ's 5.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.33% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.06% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GOVT and GOVZ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.48%) compared to GOVT (0.95%). In terms of maximum drawdown, GOVT dropped -19.07% vs GOVZ's -59.65%.
On 5-year performance, GOVT leads with -0.94% vs -14.32% for GOVZ. On fees, GOVT is cheaper at 0.05% per year. On volatility, GOVT has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GOVT has performed better with a -0.94% return vs -14.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVT is cheaper with a 0.05% expense ratio, compared with 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.06%, compared with 3.33% for GOVT.
GOVT tracks ICE U.S. Treasury Core Bond Index, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. Their fees differ too: 0.05% for GOVT and 0.15% for GOVZ.
GOVT currently has the higher Sharpe Ratio (0.55 vs -0.38), 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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