GOVZ vs. GOVT
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and GOVT (iShares U.S. Treasury Bond ETF) are both Government Bonds funds from iShares - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while GOVT tracks the ICE U.S. Treasury Core Bond Index. Both are passively managed. Over the past 5 years, GOVZ returned -11.86%/yr vs -0.41%/yr for GOVT. Their correlation of 0.89 suggests significant overlap in exposure. GOVZ charges 0.15%/yr vs 0.05%/yr for GOVT.
Performance
GOVZ vs. GOVT - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a 0.80% return, which is significantly higher than GOVT's 0.35% return.
GOVZ
- 1D
- 0.97%
- 1M
- 5.93%
- YTD
- 0.80%
- 6M
- -0.24%
- 1Y
- 5.04%
- 3Y*
- -7.39%
- 5Y*
- -11.86%
- 10Y*
- —
GOVT
- 1D
- 0.18%
- 1M
- 1.20%
- YTD
- 0.35%
- 6M
- 0.38%
- 1Y
- 4.12%
- 3Y*
- 3.05%
- 5Y*
- -0.41%
- 10Y*
- 0.85%
GOVZ vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 0.80% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
GOVT iShares U.S. Treasury Bond ETF | 0.35% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | -1.46% |
Correlation
The correlation between GOVZ and GOVT is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.89 |
The correlation between GOVZ and GOVT has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.
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Return for Risk
GOVZ vs. GOVT — Risk / Return Rank
GOVZ
GOVT
GOVZ vs. GOVT - 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 U.S. Treasury Bond ETF (GOVT). 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 | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.20 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 1.45 | -1.09 |
| Martin ratioReturn relative to average drawdown | 0.79 | 4.03 | -3.24 |
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Drawdowns
GOVZ vs. GOVT - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than GOVT's maximum drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for GOVZ and GOVT.
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Drawdown Indicators
| GOVZ | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -19.07% | -40.58% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -2.85% | -11.31% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -5.43% | -23.29% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -16.60% | -41.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.07% | — |
Current DrawdownCurrent decline from peak | -55.70% | -6.74% | -48.96% |
Average DrawdownAverage peak-to-trough decline | -39.99% | -5.25% | -34.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.44% | 1.03% | +5.41% |
Volatility
GOVZ vs. GOVT - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 3.79% compared to iShares U.S. Treasury Bond ETF (GOVT) at 0.97%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVZ | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 0.97% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 2.57% | +8.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.92% | 3.56% | +12.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.93% | 6.04% | +17.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.30% | 5.23% | +18.07% |
GOVZ vs. GOVT - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is higher than GOVT's 0.05% 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
GOVZ vs. GOVT - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.09%, more than GOVT's 3.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GOVT iShares U.S. Treasury Bond ETF | 3.57% | 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 | 5.09% | 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
GOVZ and GOVT have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (3.79%) compared to GOVT (0.97%). In terms of maximum drawdown, GOVZ dropped -59.65% vs GOVT's -19.07%.
On 5-year performance, GOVT leads with -0.41% vs -11.86% for GOVZ. On fees, GOVT is cheaper at 0.05% per year. On volatility, GOVT has been the lower-risk option at 0.97%. 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 -0.41% return vs -11.86%. 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 5.09%, compared with 3.57% for GOVT.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while GOVT tracks ICE U.S. Treasury Core Bond Index. Their fees differ too: 0.15% for GOVZ and 0.05% for GOVT.
GOVT currently has the higher Sharpe Ratio (1.17 vs 0.32), 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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