GRNB vs. GGOV
GRNB (VanEck Green Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. Over the past year, GRNB returned 3.71% vs 0.14% for GGOV. At a 0.49 correlation, their price movements are largely independent. GRNB charges 0.20%/yr vs 0.39%/yr for GGOV.
Performance
GRNB vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, GRNB achieves a 0.30% return, which is significantly lower than GGOV's 2.36% return.
GRNB
- 1D
- -0.21%
- 1M
- -0.25%
- 6M
- 0.24%
- YTD
- 0.30%
- 1Y
- 3.71%
- 3Y*
- 4.94%
- 5Y*
- 0.58%
- 10Y*
- —
GGOV
- 1D
- -0.32%
- 1M
- -0.10%
- 6M
- 2.76%
- YTD
- 2.36%
- 1Y
- 0.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GRNB vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GRNB VanEck Green Bond ETF | 0.30% | 3.33% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.36% | -2.80% |
Correlation
The correlation between GRNB and GGOV is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.49 |
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Return for Risk
GRNB vs. GGOV — Risk / Return Rank
GRNB
GGOV
GRNB vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) 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.
| GRNB | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.01 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.03 | +1.46 |
| Martin ratioReturn relative to average drawdown | 5.71 | 0.06 | +5.65 |
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Drawdowns
GRNB vs. GGOV - Drawdown Comparison
The maximum GRNB drawdown since its inception was -18.08%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for GRNB and GGOV.
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Drawdown Indicators
| GRNB | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -4.69% | -13.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -4.69% | +2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.24% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.94% | — | — |
Current DrawdownCurrent decline from peak | -0.74% | -1.44% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -4.53% | -1.54% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.12% | -1.47% |
Volatility
GRNB vs. GGOV - Volatility Comparison
The current volatility for VanEck Green Bond ETF (GRNB) is 0.90%, while iShares Global Government Bond USD Hedged Active ETF (GGOV) has a volatility of 0.97%. This indicates that GRNB experiences smaller price fluctuations and is considered to be less risky than GGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRNB | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.97% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 3.61% | -1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 5.29% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 5.20% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 5.20% | -0.34% |
GRNB vs. GGOV - Expense Ratio Comparison
GRNB has a 0.20% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
GRNB vs. GGOV - Dividend Comparison
GRNB's dividend yield for the trailing twelve months is around 4.39%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
GRNB VanEck Green Bond ETF | 4.39% | 4.18% | 3.83% | 3.17% | 2.60% | 1.97% | 2.24% | 1.79% | 1.21% | 1.09% |
Frequently Asked Questions
GRNB and GGOV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.97%) compared to GRNB (0.90%). In terms of maximum drawdown, GRNB dropped -18.08% vs GGOV's -4.69%.
On 1-year performance, GRNB leads with 3.71% vs 0.14% for GGOV. On fees, GRNB is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GRNB has performed better with a 3.71% return vs 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GRNB is cheaper with a 0.20% expense ratio, compared with 0.39% for GGOV.
GRNB has the higher dividend yield at 4.39%, compared with 0.00% for GGOV.
They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for GRNB and 0.39% for GGOV.
GRNB currently has the higher Sharpe Ratio (1.25 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.
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