IBTL vs. GGOV

Last updated Jun 4, 2026

IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - IBTL is a Government Bonds fund tracking the ICE 2031 Maturity US Treasury Index, while GGOV is a Global Bonds fund managed by iShares. A 0.63 correlation means they provide meaningful diversification when combined. IBTL charges 0.07%/yr vs 0.39%/yr for GGOV.

Performance

IBTL vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2031 Term Treasury ETF (IBTL) 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, IBTL achieves a -0.47% return, which is significantly lower than GGOV's 2.30% return.

IBTL

• 1D: -0.15%
• 1M: -0.21%
• YTD: -0.47%
• 6M: -0.69%
• 1Y: 3.77%
• 3Y*: 2.83%
• 5Y*: —
• 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)

IBTL vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
IBTL iShares iBonds Dec 2031 Term Treasury ETF	-0.47%	2.60%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.30%	-2.81%

Correlation

The correlation between IBTL and GGOV is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.63

Return for Risk

IBTL vs. GGOV — Risk / Return Rank

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

IBTL

IBTL Risk / Return Rank: 28
IBTL Sharpe Ratio Rank: 28
IBTL Sortino Ratio Rank: 29
IBTL Omega Ratio Rank: 27
IBTL Calmar Ratio Rank: 27
IBTL Martin Ratio Rank: 28

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.

IBTL vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) 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.

	IBTL	GGOV	Difference
Sharpe ratio Return per unit of total volatility	1.05	—	—
Sortino ratio Return per unit of downside risk	1.60	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.34	—	—
Martin ratio Return relative to average drawdown	3.90	—	—
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

	IBTL	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.21	-0.11	-0.09

Drawdowns

IBTL vs. GGOV - Drawdown Comparison

The maximum IBTL drawdown since its inception was -20.93%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for IBTL and GGOV.

Drawdown Indicators

	IBTL	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-20.93%	-4.69%	-16.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.38%	—	—
Current Drawdown Current decline from peak	-7.25%	-1.50%	-5.75%
Average Drawdown Average peak-to-trough decline	-11.47%	-1.59%	-9.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	—	—

Volatility

Volatility by Period

	IBTL	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	5.38%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.46%	5.38%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.46%	5.38%	+2.08%

IBTL vs. GGOV - Expense Ratio Comparison

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

Dividends

IBTL vs. GGOV - Dividend Comparison

IBTL's dividend yield for the trailing twelve months is around 3.97%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBTL iShares iBonds Dec 2031 Term Treasury ETF	3.97%	3.93%	4.07%	3.04%	2.36%	0.70%

Frequently Asked Questions

Can I hold both IBTL and GGOV in my portfolio?

IBTL and GGOV have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTL or GGOV?

On fees, IBTL 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, IBTL or GGOV?

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

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

IBTL has the higher dividend yield at 3.97%, compared with 0.00% for GGOV.

What is the main difference between IBTL and GGOV?

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