IBGK vs. GOVZ
IBGK (iShares iBonds Dec 2054 Term Treasury ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both exchange-traded funds - IBGK is a Long-Term Bond fund tracking the ICE 2054 Maturity US Treasury Index, while GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past year, IBGK returned -1.96% vs -7.04% for GOVZ. Their 0.96 correlation means they have historically moved very closely together. IBGK charges 0.07%/yr vs 0.15%/yr for GOVZ.
Performance
IBGK vs. GOVZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBGK achieves a -3.18% return, which is significantly higher than GOVZ's -6.61% return.
IBGK
- 1D
- 0.42%
- 1M
- -3.43%
- 6M
- -2.71%
- YTD
- -3.18%
- 1Y
- -1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.45%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $14.80K | $17.29K | $31.57K |
IBGK vs. GOVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBGK iShares iBonds Dec 2054 Term Treasury ETF | -3.18% | 3.66% | -3.44% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -6.17% |
Correlation
The correlation between IBGK and GOVZ 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 (All Time) Calculated using the full available price history since Jun 12, 2024 | 0.96 |
The correlation between IBGK and GOVZ has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
IBGK vs. GOVZ — Risk / Return Rank
IBGK
GOVZ
IBGK vs. GOVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.
| IBGK | GOVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.94 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.48 | +0.21 |
| Martin ratioReturn relative to average drawdown | -0.57 | -0.96 | +0.39 |
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Drawdowns
IBGK vs. GOVZ - Drawdown Comparison
The maximum IBGK drawdown since its inception was -14.62%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for IBGK and GOVZ.
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Drawdown Indicators
| IBGK | GOVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.62% | -59.65% | +45.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.48% | -14.87% | +7.39% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.42% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.63% | — |
Current DrawdownCurrent decline from peak | -11.76% | -58.96% | +47.20% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -40.35% | +32.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 7.33% | -3.89% |
Volatility
IBGK vs. GOVZ - Volatility Comparison
The current volatility for iShares iBonds Dec 2054 Term Treasury ETF (IBGK) is 2.45%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.53%. This indicates that IBGK experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGK | GOVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 4.53% | -2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 6.58% | 11.06% | -4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.86% | 15.52% | -6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.62% | 23.80% | -12.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 23.17% | -11.55% |
IBGK vs. GOVZ - Expense Ratio Comparison
IBGK has a 0.07% expense ratio, which is lower than GOVZ's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBGK vs. GOVZ - Dividend Comparison
IBGK's dividend yield for the trailing twelve months is around 4.84%, less than GOVZ's 5.53% 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% |
IBGK iShares iBonds Dec 2054 Term Treasury ETF | 4.84% | 4.59% | 3.15% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, IBGK and GOVZ 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 IBGK (2.45%). In terms of maximum drawdown, IBGK dropped -14.62% vs GOVZ's -59.65%.
On 1-year performance, IBGK leads with -1.96% vs -7.04% for GOVZ. On fees, IBGK is cheaper at 0.07% per year. On volatility, IBGK has been the lower-risk option at 2.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBGK has performed better with a -1.96% return vs -7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGK is cheaper with a 0.07% expense ratio, compared with 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.53%, compared with 4.84% for IBGK.
IBGK is categorized as Long-Term Bond, while GOVZ is Government Bonds. IBGK tracks ICE 2054 Maturity US Treasury Index, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. Their fees differ too: 0.07% for IBGK and 0.15% for GOVZ.
IBGK currently has the higher Sharpe Ratio (-0.22 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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