IBTF vs. GGOV

Last updated Jun 4, 2026

IBTF (iShares iBonds Dec 2025 Term Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury Index, while GGOV is a Global Bonds fund managed by iShares. At a correlation of -0.08, they often move in opposite directions. IBTF charges 0.07%/yr vs 0.39%/yr for GGOV.

Performance

IBTF vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2025 Term Treasury ETF (IBTF) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBTF

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.09%
• 1Y: 2.14%
• 3Y*: 3.66%
• 5Y*: 0.90%
• 10Y*: —

GGOV

• 1D: -0.16%
• 1M: 0.60%
• YTD: 2.30%
• 6M: -1.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBTF vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
IBTF iShares iBonds Dec 2025 Term Treasury ETF	0.00%	1.83%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.30%	-2.81%

Correlation

The correlation between IBTF and GGOV is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	-0.08

Return for Risk

IBTF vs. GGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBTF

IBTF Risk / Return Rank: 99
IBTF Sharpe Ratio Rank: 99
IBTF Sortino Ratio Rank: 99
IBTF Omega Ratio Rank: 100
IBTF Calmar Ratio Rank: 100
IBTF Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBTF vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) 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.

	IBTF	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	7.08	—	—
Sortino ratio: Return per unit of downside risk	20.07	—	—
Omega ratio: Gain probability vs. loss probability	6.23	—	—
Calmar ratio: Return relative to maximum drawdown	59.41	—	—
Martin ratio: Return relative to average drawdown	269.70	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IBTF	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	-0.11	+0.56

Drawdowns

IBTF vs. GGOV - Drawdown Comparison

The maximum IBTF drawdown since its inception was -10.45%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for IBTF and GGOV.

Drawdown Indicators

	IBTF	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-10.45%	-4.69%	-5.76%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.53%	—	—
Current Drawdown Current decline from peak	0.00%	-1.50%	+1.50%
Average Drawdown Average peak-to-trough decline	-3.33%	-1.59%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	IBTF	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.36%	5.38%	-5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.38%	5.38%	-3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.56%	5.38%	-2.82%

IBTF vs. GGOV - Expense Ratio Comparison

IBTF has a 0.07% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

IBTF vs. GGOV - Dividend Comparison

IBTF's dividend yield for the trailing twelve months is around 2.08%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBTF iShares iBonds Dec 2025 Term Treasury ETF	2.08%	3.83%	4.32%	4.03%	1.93%	0.57%	0.59%

Frequently Asked Questions

Can I hold both IBTF and GGOV in my portfolio?

IBTF and GGOV have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTF or GGOV?

On fees, IBTF is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTF or GGOV?

IBTF is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.

Which ETF pays a higher dividend yield, IBTF or GGOV?

IBTF has the higher dividend yield at 2.08%, compared with 0.00% for GGOV.

What is the main difference between IBTF and GGOV?

IBTF is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.07% for IBTF and 0.39% for GGOV.