GOVZ vs. UTHY
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and UTHY (US Treasury 30 Year Bond ETF) are both Government Bonds funds - GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index while UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, GOVZ returned -6.86%/yr vs -1.43%/yr for UTHY. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.15% expense ratio.
Performance
GOVZ vs. UTHY - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -6.61% return, which is significantly lower than UTHY's -3.19% return.
GOVZ
- 1D
- 0.34%
- 1M
- -6.59%
- 6M
- -5.59%
- YTD
- -6.61%
- 1Y
- -7.04%
- 3Y*
- -6.86%
- 5Y*
- -14.55%
- 10Y*
- —
- ALL TIME*
- -14.11%
UTHY
- 1D
- 0.34%
- 1M
- -3.59%
- 6M
- -2.64%
- YTD
- -3.19%
- 1Y
- -2.03%
- 3Y*
- -1.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $6.47M | $5.19M | $5.88M |
GOVZ vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -16.24% | -5.11% |
UTHY US Treasury 30 Year Bond ETF | -3.19% | 3.47% | -8.07% | -2.77% |
Correlation
The correlation between GOVZ and UTHY is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.98 |
The correlation between GOVZ and UTHY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
GOVZ vs. UTHY — Risk / Return Rank
GOVZ
UTHY
GOVZ vs. UTHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and US Treasury 30 Year Bond ETF (UTHY). 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 | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.97 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.28 | -0.20 |
| Martin ratioReturn relative to average drawdown | -0.96 | -0.59 | -0.37 |
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Drawdowns
GOVZ vs. UTHY - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for GOVZ and UTHY.
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Drawdown Indicators
| GOVZ | UTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -21.86% | -37.79% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -7.41% | -7.46% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -14.90% | -11.52% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | — | — |
Current DrawdownCurrent decline from peak | -58.96% | -13.97% | -44.99% |
Average DrawdownAverage peak-to-trough decline | -40.35% | -10.75% | -29.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 3.43% | +3.90% |
Volatility
GOVZ vs. UTHY - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.53% compared to US Treasury 30 Year Bond ETF (UTHY) at 2.36%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOVZ | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 2.36% | +2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 6.60% | +4.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 8.90% | +6.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 13.46% | +10.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 13.46% | +9.71% |
GOVZ vs. UTHY - Expense Ratio Comparison
Both GOVZ and UTHY have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GOVZ vs. UTHY - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.53%, more than UTHY's 4.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.53% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
UTHY US Treasury 30 Year Bond ETF | 4.84% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, GOVZ and UTHY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
GOVZ has higher volatility (4.53%) compared to UTHY (2.36%). In terms of maximum drawdown, GOVZ dropped -59.65% vs UTHY's -21.86%.
On 3-year performance, UTHY leads with -1.43% vs -6.86% for GOVZ. Both ETFs have the same 0.15% expense ratio. On volatility, UTHY has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UTHY has performed better with a -1.43% return vs -6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ and UTHY have the same expense ratio: 0.15% per year.
GOVZ has the higher dividend yield at 5.53%, compared with 4.84% for UTHY.
GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: iShares and US Benchmark Series.
UTHY currently has the higher Sharpe Ratio (-0.23 vs -0.46), 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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