IEI vs. GGOV
IEI (iShares 3-7 Year Treasury Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index, while GGOV is a Global Bonds fund actively managed by iShares. IEI is passively managed, while GGOV is actively managed. Over the past year, IEI returned 1.50% vs 0.23% for GGOV. Their 0.63 correlation means they have sometimes moved together and sometimes differently. IEI charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
IEI vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IEI achieves a -0.22% return, which is significantly lower than GGOV's 3.08% return.
IEI
- 1D
- 0.29%
- 1M
- -0.14%
- 6M
- -0.12%
- YTD
- -0.22%
- 1Y
- 1.50%
- 3Y*
- 3.83%
- 5Y*
- 0.14%
- 10Y*
- 1.23%
- ALL TIME*
- 2.84%
GGOV
- 1D
- 0.46%
- 1M
- 0.36%
- 6M
- 3.80%
- YTD
- 3.08%
- 1Y
- 0.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.29M | $62.99M | $79.71M | |
| $180.86M | $155.16M | $151.09M |
IEI vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IEI iShares 3-7 Year Treasury Bond ETF | -0.22% | 2.64% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 3.08% | -2.80% |
Correlation
The correlation between IEI and GGOV is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.63 |
The correlation between IEI and GGOV has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.
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Return for Risk
IEI vs. GGOV — Risk / Return Rank
IEI
GGOV
IEI vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 3-7 Year Treasury Bond ETF (IEI) 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.
| IEI | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.01 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 0.05 | +0.56 |
| Martin ratioReturn relative to average drawdown | 1.37 | 0.11 | +1.26 |
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Drawdowns
IEI vs. GGOV - Drawdown Comparison
The maximum IEI drawdown since its inception was -14.60%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for IEI and GGOV.
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Drawdown Indicators
| IEI | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.60% | -4.69% | -9.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -4.69% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.60% | — | — |
Current DrawdownCurrent decline from peak | -1.66% | -0.75% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -2.66% | -1.53% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 2.15% | -1.05% |
Volatility
IEI vs. GGOV - Volatility Comparison
The current volatility for iShares 3-7 Year Treasury Bond ETF (IEI) is 0.82%, while iShares Global Government Bond USD Hedged Active ETF (GGOV) has a volatility of 0.91%. This indicates that IEI 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
| IEI | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.91% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.38% | 3.60% | -1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 5.23% | -2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.79% | 5.09% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.93% | 5.09% | -1.16% |
IEI vs. GGOV - Expense Ratio Comparison
IEI has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
IEI vs. GGOV - Dividend Comparison
IEI's dividend yield for the trailing twelve months is around 3.70%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.70% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
IEI and GGOV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.91%) compared to IEI (0.82%). In terms of maximum drawdown, IEI dropped -14.60% vs GGOV's -4.69%.
On 1-year performance, IEI leads with 1.50% vs 0.23% for GGOV. On fees, IEI is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IEI has performed better with a 1.50% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEI is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
IEI has the higher dividend yield at 3.70%, compared with 0.00% for GGOV.
IEI is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.15% for IEI and 0.39% for GGOV.
IEI currently has the higher Sharpe Ratio (0.52 vs 0.04), 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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