IBTG vs. GGOV
IBTG (iShares iBonds Dec 2026 Term Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - IBTG is a Government Bonds fund tracking the ICE 2026 Maturity US Treasury Index, while GGOV is a Global Bonds fund actively managed by iShares. IBTG is passively managed, while GGOV is actively managed. Over the past year, IBTG returned 3.85% vs -0.42% for GGOV. Their 0.11 correlation means their historical movements had little consistent relationship. IBTG charges 0.07%/yr vs 0.39%/yr for GGOV.
Performance
IBTG vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IBTG achieves a 2.08% return, which is significantly lower than GGOV's 2.61% return.
IBTG
- 1D
- 0.06%
- 1M
- 0.34%
- 6M
- 1.80%
- YTD
- 2.08%
- 1Y
- 3.85%
- 3Y*
- 4.40%
- 5Y*
- 0.76%
- 10Y*
- —
- ALL TIME*
- 1.10%
GGOV
- 1D
- 0.12%
- 1M
- -0.10%
- 6M
- 3.17%
- YTD
- 2.61%
- 1Y
- -0.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $49.16M | $62.50M | $78.51M | |
| $8.66M | $9.15M | $9.76M |
IBTG vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 2.08% | 2.21% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.61% | -2.80% |
Correlation
The correlation between IBTG and GGOV is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.11 |
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Return for Risk
IBTG vs. GGOV — Risk / Return Rank
IBTG
GGOV
IBTG vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) 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.
| IBTG | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.54 | ||
| Sortino ratioReturn per unit of downside risk | +20.37 | ||
| Omega ratioGain probability vs. loss probability | 4.38 | 0.99 | +3.39 |
| Calmar ratioReturn relative to maximum drawdown | 59.17 | -0.09 | +59.26 |
| Martin ratioReturn relative to average drawdown | 264.06 | -0.19 | +264.25 |
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Drawdowns
IBTG vs. GGOV - Drawdown Comparison
The maximum IBTG drawdown since its inception was -13.62%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for IBTG and GGOV.
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Drawdown Indicators
| IBTG | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.62% | -4.69% | -8.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -4.69% | +4.62% |
Max Drawdown (3Y)Largest decline over 3 years | -1.11% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.07% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.20% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -1.54% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.15% | -2.14% |
Volatility
IBTG vs. GGOV - Volatility Comparison
The current volatility for iShares iBonds Dec 2026 Term Treasury ETF (IBTG) is 0.11%, while iShares Global Government Bond USD Hedged Active ETF (GGOV) has a volatility of 0.78%. This indicates that IBTG 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
| IBTG | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 0.78% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 0.29% | 3.57% | -3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.46% | 5.22% | -4.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.23% | 5.08% | -1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.41% | 5.08% | -1.67% |
IBTG vs. GGOV - Expense Ratio Comparison
IBTG has a 0.07% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
IBTG vs. GGOV - Dividend Comparison
IBTG's dividend yield for the trailing twelve months is around 3.90%, 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% |
IBTG iShares iBonds Dec 2026 Term Treasury ETF | 3.90% | 4.03% | 4.08% | 3.61% | 2.06% | 0.66% | 0.53% |
Frequently Asked Questions
IBTG and GGOV have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.78%) compared to IBTG (0.11%). In terms of maximum drawdown, IBTG dropped -13.62% vs GGOV's -4.69%.
On 1-year performance, IBTG leads with 3.85% vs -0.42% for GGOV. On fees, IBTG is cheaper at 0.07% per year. On volatility, IBTG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTG has performed better with a 3.85% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTG is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.
IBTG has the higher dividend yield at 3.90%, compared with 0.00% for GGOV.
IBTG is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.07% for IBTG and 0.39% for GGOV.
IBTG currently has the higher Sharpe Ratio (8.46 vs -0.08), 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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