GOVZ vs. GGOV

Last updated Jul 14, 2026

GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index, while GGOV is a Global Bonds fund managed by iShares. Over the past year, GOVZ returned 0.52% vs 0.14% for GGOV. A 0.58 correlation means they provide meaningful diversification when combined. GOVZ charges 0.15%/yr vs 0.39%/yr for GGOV.

Performance

GOVZ vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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, GOVZ achieves a -2.94% return, which is significantly lower than GGOV's 2.36% return.

GOVZ

• 1D: -0.87%
• 1M: -2.89%
• 6M: -3.56%
• YTD: -2.94%
• 1Y: 0.52%
• 3Y*: -8.07%
• 5Y*: -13.19%
• 10Y*: —

GGOV

• 1D: -0.32%
• 1M: -0.10%
• 6M: 2.76%
• YTD: 2.36%
• 1Y: 0.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GOVZ vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	-2.94%	0.57%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.36%	-2.80%

Correlation

The correlation between GOVZ and GGOV is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.58

The correlation between GOVZ and GGOV has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.

Return for Risk

GOVZ vs. GGOV — Risk / Return Rank

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

GOVZ

GOVZ Risk / Return Rank: 10
GOVZ Sharpe Ratio Rank: 10
GOVZ Sortino Ratio Rank: 9
GOVZ Omega Ratio Rank: 9
GOVZ Calmar Ratio Rank: 10
GOVZ Martin Ratio Rank: 10

GGOV

GGOV Risk / Return Rank: 9
GGOV Sharpe Ratio Rank: 10
GGOV Sortino Ratio Rank: 8
GGOV Omega Ratio Rank: 9
GGOV Calmar Ratio Rank: 10
GGOV Martin Ratio Rank: 10

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.

GOVZ vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.

	GOVZ	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	0.03	0.03	+0.01
Sortino ratio: Return per unit of downside risk	0.16	0.06	+0.10
Omega ratio: Gain probability vs. loss probability	1.02	1.01	+0.01
Calmar ratio: Return relative to maximum drawdown	0.04	0.03	+0.01
Martin ratio: Return relative to average drawdown	0.08	0.06	+0.01

GOVZ vs. GGOV - Sharpe Ratio Comparison

The current GOVZ Sharpe Ratio is 0.03, which is comparable to the GGOV Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of GOVZ and GGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GOVZ vs. GGOV - Drawdown Comparison

The maximum GOVZ drawdown since its inception was -59.65%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for GOVZ and GGOV.

Drawdown Indicators

	GOVZ	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-59.65%	-4.69%	-54.96%
Max Drawdown (1Y) Largest decline over 1 year	-14.16%	-4.69%	-9.47%
Max Drawdown (3Y) Largest decline over 3 years	-28.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-57.63%	—	—
Current Drawdown Current decline from peak	-57.35%	-1.44%	-55.91%
Average Drawdown Average peak-to-trough decline	-40.17%	-1.54%	-38.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.67%	2.12%	+4.55%

Volatility

GOVZ vs. GGOV - Volatility Comparison

iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.88% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.97%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than GGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOVZ	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	0.97%	+3.91%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	3.61%	+7.45%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	5.29%	+10.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.85%	5.20%	+18.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	5.20%	+18.03%

GOVZ vs. GGOV - Expense Ratio Comparison

GOVZ has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

GOVZ vs. GGOV - Dividend Comparison

GOVZ's dividend yield for the trailing twelve months is around 5.30%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	5.30%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%

Frequently Asked Questions

Can I hold both GOVZ and GGOV in my portfolio?

GOVZ and GGOV have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOVZ or GGOV?

GOVZ has higher volatility (4.88%) compared to GGOV (0.97%). In terms of maximum drawdown, GOVZ dropped -59.65% vs GGOV's -4.69%.

Which ETF is better, GOVZ or GGOV?

On 1-year performance, GOVZ leads with 0.52% vs 0.14% for GGOV. On fees, GOVZ is cheaper at 0.15% per year. On volatility, GGOV has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOVZ or GGOV?

Over the 1-year period, GOVZ has performed better with a 0.52% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOVZ or GGOV?

GOVZ is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.

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

GOVZ has the higher dividend yield at 5.30%, compared with 0.00% for GGOV.

What is the main difference between GOVZ and GGOV?

GOVZ is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.15% for GOVZ and 0.39% for GGOV.

Which has better risk-adjusted returns?

GOVZ currently has the higher Sharpe Ratio (0.03 vs 0.03), 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.