IBTP vs. GGOV
IBTP (iShares iBonds Dec 2034 Term Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - IBTP is a Government Bonds fund tracking the ICE 2034 Maturity US Treasury Index, while GGOV is a Global Bonds fund managed by iShares. A 0.64 correlation means they provide meaningful diversification when combined. IBTP charges 0.07%/yr vs 0.39%/yr for GGOV.
Performance
IBTP vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IBTP achieves a -0.59% return, which is significantly lower than GGOV's 2.30% return.
IBTP
- 1D
- -0.24%
- 1M
- -0.12%
- YTD
- -0.59%
- 6M
- -1.11%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTP vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBTP iShares iBonds Dec 2034 Term Treasury ETF | -0.59% | 2.96% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between IBTP and GGOV is 0.64, 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 | 0.64 |
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Return for Risk
IBTP vs. GGOV — Risk / Return Rank
IBTP
GGOV
IBTP vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2034 Term Treasury ETF (IBTP) 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.
| IBTP | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | — | — |
| Martin ratioReturn relative to average drawdown | 3.25 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTP | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | -0.11 | +0.78 |
Drawdowns
IBTP vs. GGOV - Drawdown Comparison
The maximum IBTP drawdown since its inception was -7.40%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for IBTP and GGOV.
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Drawdown Indicators
| IBTP | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.40% | -4.69% | -2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | — | — |
Current DrawdownCurrent decline from peak | -2.77% | -1.50% | -1.27% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -1.59% | -0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | — | — |
Volatility
IBTP vs. GGOV - Volatility Comparison
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Volatility by Period
| IBTP | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 5.38% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.96% | 5.38% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.96% | 5.38% | +0.58% |
IBTP vs. GGOV - Expense Ratio Comparison
IBTP has a 0.07% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
IBTP vs. GGOV - Dividend Comparison
IBTP's dividend yield for the trailing twelve months is around 4.05%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% |
IBTP iShares iBonds Dec 2034 Term Treasury ETF | 4.05% | 3.92% | 1.78% |
Frequently Asked Questions
IBTP and GGOV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTP is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTP is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.
IBTP has the higher dividend yield at 4.05%, compared with 0.00% for GGOV.
IBTP is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.07% for IBTP and 0.39% for GGOV.
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