IBTG vs. GGOV

Last updated Jun 3, 2026

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 managed by iShares. At a 0.17 correlation, their price movements are largely independent. IBTG charges 0.07%/yr vs 0.39%/yr for GGOV.

Performance

IBTG vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2026 Term Treasury ETF (IBTG) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBTG achieves a 1.44% return, which is significantly lower than GGOV's 2.47% return.

IBTG

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.80%
• 1Y: 4.14%
• 3Y*: 4.11%
• 5Y*: 0.84%
• 10Y*: —

GGOV

• 1D: -0.12%
• 1M: 0.55%
• YTD: 2.47%
• 6M: -0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBTG vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
IBTG iShares iBonds Dec 2026 Term Treasury ETF	1.44%	2.21%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.47%	-2.81%

Correlation

The correlation between IBTG and GGOV is 0.17, 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	0.17

Return for Risk

IBTG vs. GGOV — Risk / Return Rank

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

IBTG

IBTG Risk / Return Rank: 99
IBTG Sharpe Ratio Rank: 99
IBTG Sortino Ratio Rank: 99
IBTG Omega Ratio Rank: 99
IBTG Calmar Ratio Rank: 100
IBTG 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.

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.

	IBTG	GGOV	Difference
Sharpe ratio Return per unit of total volatility	8.02	—	—
Sortino ratio Return per unit of downside risk	20.36	—	—
Omega ratio Gain probability vs. loss probability	4.40	—	—
Calmar ratio Return relative to maximum drawdown	63.25	—	—
Martin ratio Return relative to average drawdown	255.75	—	—
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

	IBTG	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.02	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	-0.08	+0.37

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.

Drawdown Indicators

	IBTG	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-13.62%	-4.69%	-8.93%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.31%	—	—
Current Drawdown Current decline from peak	0.00%	-1.34%	+1.34%
Average Drawdown Average peak-to-trough decline	-4.90%	-1.59%	-3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	—	—

Volatility

Volatility by Period

	IBTG	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.52%	5.39%	-4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.27%	5.39%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.45%	5.39%	-1.94%

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 3.96%, 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	3.96%	4.03%	4.08%	3.61%	2.06%	0.66%	0.53%

Frequently Asked Questions

Can I hold both IBTG and GGOV in my portfolio?

IBTG and GGOV have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTG or GGOV?

On fees, IBTG 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, IBTG or GGOV?

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

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

IBTG has the higher dividend yield at 3.96%, compared with 0.00% for GGOV.

What is the main difference between IBTG and 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.