IGOV vs. IVV
IGOV (iShares International Treasury Bond ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - IGOV is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IGOV returned -1.38%/yr vs 15.54%/yr for IVV. At a 0.14 correlation, their price movements are largely independent. IGOV charges 0.35%/yr vs 0.03%/yr for IVV.
Performance
IGOV vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, IGOV achieves a -0.50% return, which is significantly lower than IVV's 10.85% return. Over the past 10 years, IGOV has underperformed IVV with an annualized return of -1.38%, while IVV has yielded a comparatively higher 15.54% annualized return.
IGOV
- 1D
- -0.84%
- 1M
- -0.43%
- YTD
- -0.50%
- 6M
- -0.39%
- 1Y
- 0.56%
- 3Y*
- 2.56%
- 5Y*
- -4.47%
- 10Y*
- -1.38%
IVV
- 1D
- -0.76%
- 1M
- 4.97%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 28.00%
- 3Y*
- 22.43%
- 5Y*
- 13.88%
- 10Y*
- 15.54%
IGOV vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | -0.50% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 10.88% | 3.76% | -2.60% | 11.38% |
IVV iShares Core S&P 500 ETF | 10.85% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between IGOV and IVV is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2009 | 0.14 |
Over the past year, IGOV and IVV have become more correlated (0.42) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
IGOV vs. IVV — Risk / Return Rank
IGOV
IVV
IGOV vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Treasury Bond ETF (IGOV) and iShares Core S&P 500 ETF (IVV). 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.
| IGOV | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.09 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.43 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 3.17 | -3.07 |
| Martin ratioReturn relative to average drawdown | 0.23 | 14.71 | -14.48 |
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
| IGOV | IVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.07 | 2.39 | -2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.83 | -1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.16 | 0.86 | -1.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.45 | -0.44 |
Drawdowns
IGOV vs. IVV - Drawdown Comparison
The maximum IGOV drawdown since its inception was -35.88%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for IGOV and IVV.
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Drawdown Indicators
| IGOV | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -55.25% | +19.37% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -8.89% | +3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -10.65% | -18.75% | +8.10% |
Max Drawdown (5Y)Largest decline over 5 years | -33.17% | -24.53% | -8.64% |
Max Drawdown (10Y)Largest decline over 10 years | -35.88% | -33.90% | -1.98% |
Current DrawdownCurrent decline from peak | -24.01% | -0.76% | -23.25% |
Average DrawdownAverage peak-to-trough decline | -11.02% | -10.78% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.91% | +0.51% |
Volatility
IGOV vs. IVV - Volatility Comparison
iShares International Treasury Bond ETF (IGOV) and iShares Core S&P 500 ETF (IVV) have volatilities of 2.80% and 2.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGOV | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.80% | 2.87% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 8.90% | -2.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.11% | 11.80% | -3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.96% | 16.88% | -6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.59% | 18.05% | -9.46% |
IGOV vs. IVV - Expense Ratio Comparison
IGOV has a 0.35% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
IGOV vs. IVV - Dividend Comparison
IGOV's dividend yield for the trailing twelve months is around 1.42%, more than IVV's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | 1.42% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
Frequently Asked Questions
IGOV and IVV have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (2.87%) compared to IGOV (2.80%). In terms of maximum drawdown, IGOV dropped -35.88% vs IVV's -55.25%.
On 10-year performance, IVV leads with 15.54% vs -1.38% for IGOV. On fees, IVV is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IVV has performed better with a 15.54% return vs -1.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 0.35% for IGOV.
IGOV has the higher dividend yield at 1.42%, compared with 1.06% for IVV.
IGOV is categorized as International Government Bonds, while IVV is S&P 500. IGOV tracks S&P/Citigroup International Treasury Bond Index Ex-US, while IVV tracks S&P 500 Index. Their fees differ too: 0.35% for IGOV and 0.03% for IVV.
IVV currently has the higher Sharpe Ratio (2.39 vs 0.07), 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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