GRNB vs. GGOV
GRNB (VanEck Green Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. At a 0.47 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 0.43% return, which is significantly lower than GGOV's 2.30% return.
GRNB
- 1D
- -0.19%
- 1M
- 0.45%
- YTD
- 0.43%
- 6M
- 0.57%
- 1Y
- 4.99%
- 3Y*
- 5.07%
- 5Y*
- 0.77%
- 10Y*
- —
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GRNB vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GRNB VanEck Green Bond ETF | 0.43% | 3.15% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between GRNB and GGOV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025 | 0.47 |
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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.
| GRNB | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | — | — |
| Martin ratioReturn relative to average drawdown | 7.82 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRNB | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | -0.11 | +0.57 |
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% | — | — |
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 | -0.57% | -1.50% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -1.59% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | — | — |
Volatility
GRNB vs. GGOV - Volatility Comparison
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Volatility by Period
| GRNB | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.34% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 5.38% | -2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 5.38% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 5.38% | -0.50% |
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 4.24%, 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 | 4.24% | 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 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GRNB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GRNB is cheaper with a 0.20% expense ratio, compared with 0.39% for GGOV.
GRNB has the higher dividend yield at 4.24%, 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.
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