KORP vs. GOVZ

Last updated Jun 3, 2026

KORP (American Century Diversified Corporate Bond ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both exchange-traded funds - KORP is a Corporate Bonds fund actively managed by American Century, while GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index. KORP is actively managed, while GOVZ is passively managed. Over the past 5 years, KORP returned 1.87%/yr vs -11.12%/yr for GOVZ. A 0.75 correlation means they provide meaningful diversification when combined. KORP charges 0.29%/yr vs 0.15%/yr for GOVZ.

Performance

KORP vs. GOVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Diversified Corporate Bond ETF (KORP) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KORP achieves a 0.92% return, which is significantly higher than GOVZ's -0.44% return.

KORP

• 1D: 0.06%
• 1M: 0.51%
• YTD: 0.92%
• 6M: 0.98%
• 1Y: 6.77%
• 3Y*: 5.87%
• 5Y*: 1.87%
• 10Y*: —

GOVZ

• 1D: 0.45%
• 1M: 0.87%
• YTD: -0.44%
• 6M: -3.52%
• 1Y: 4.32%
• 3Y*: -7.28%
• 5Y*: -11.12%
• 10Y*: —

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

KORP vs. GOVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KORP American Century Diversified Corporate Bond ETF	0.92%	8.14%	3.82%	7.40%	-10.04%	-0.55%	2.73%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	-0.44%	-1.81%	-16.24%	0.90%	-41.03%	-4.86%	-5.61%

Correlation

The correlation between KORP and GOVZ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020	0.75

The correlation between KORP and GOVZ has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

Return for Risk

KORP vs. GOVZ — Risk / Return Rank

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

KORP

KORP Risk / Return Rank: 42
KORP Sharpe Ratio Rank: 44
KORP Sortino Ratio Rank: 45
KORP Omega Ratio Rank: 43
KORP Calmar Ratio Rank: 40
KORP Martin Ratio Rank: 41

GOVZ

GOVZ Risk / Return Rank: 12
GOVZ Sharpe Ratio Rank: 13
GOVZ Sortino Ratio Rank: 12
GOVZ Omega Ratio Rank: 12
GOVZ Calmar Ratio Rank: 10
GOVZ Martin Ratio Rank: 10

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.

KORP vs. GOVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.

	KORP	GOVZ	Difference
Sharpe ratio Return per unit of total volatility	1.56	0.27	+1.29
Sortino ratio Return per unit of downside risk	2.26	0.50	+1.76
Omega ratio Gain probability vs. loss probability	1.28	1.06	+0.22
Calmar ratio Return relative to maximum drawdown	2.00	0.18	+1.81
Martin ratio Return relative to average drawdown	6.66	0.42	+6.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KORP vs. GOVZ - Sharpe Ratio Comparison

The current KORP Sharpe Ratio is 1.56, which is higher than the GOVZ Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of KORP and GOVZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KORP	GOVZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	0.27	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	-0.47	+0.82
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	-0.58	+1.17

Drawdowns

KORP vs. GOVZ - Drawdown Comparison

The maximum KORP drawdown since its inception was -14.90%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for KORP and GOVZ.

Drawdown Indicators

	KORP	GOVZ	Difference
Max Drawdown Largest peak-to-trough decline	-14.90%	-59.65%	+44.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-14.16%	+10.94%
Max Drawdown (3Y) Largest decline over 3 years	-5.04%	-28.72%	+23.68%
Max Drawdown (5Y) Largest decline over 5 years	-14.90%	-57.63%	+42.73%
Current Drawdown Current decline from peak	-0.84%	-56.25%	+55.41%
Average Drawdown Average peak-to-trough decline	-3.23%	-39.90%	+36.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	6.19%	-5.22%

Volatility

KORP vs. GOVZ - Volatility Comparison

The current volatility for American Century Diversified Corporate Bond ETF (KORP) is 1.46%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.47%. This indicates that KORP experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KORP	GOVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	4.47%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	3.30%	10.66%	-7.36%
Volatility (1Y) Calculated over the trailing 1-year period	4.36%	16.34%	-11.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	23.93%	-18.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.92%	23.36%	-18.44%

KORP vs. GOVZ - Expense Ratio Comparison

KORP has a 0.29% expense ratio, which is higher than GOVZ's 0.15% expense ratio.

Dividends

KORP vs. GOVZ - Dividend Comparison

KORP's dividend yield for the trailing twelve months is around 4.68%, less than GOVZ's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	5.15%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%	0.00%	0.00%
KORP American Century Diversified Corporate Bond ETF	4.68%	4.98%	5.08%	4.42%	2.89%	1.86%	3.22%	3.20%	2.97%

Frequently Asked Questions

Can I hold both KORP and GOVZ in my portfolio?

KORP and GOVZ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KORP or GOVZ?

GOVZ has higher volatility (4.47%) compared to KORP (1.46%). In terms of maximum drawdown, KORP dropped -14.90% vs GOVZ's -59.65%.

Which ETF is better, KORP or GOVZ?

On 5-year performance, KORP leads with 1.87% vs -11.12% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, KORP has been the lower-risk option at 1.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KORP or GOVZ?

Over the 5-year period, KORP has performed better with a 1.87% return vs -11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KORP or GOVZ?

GOVZ is cheaper with a 0.15% expense ratio, compared with 0.29% for KORP.

Which ETF pays a higher dividend yield, KORP or GOVZ?

GOVZ has the higher dividend yield at 5.15%, compared with 4.68% for KORP.

What is the main difference between KORP and GOVZ?

KORP is categorized as Corporate Bonds, while GOVZ is Government Bonds. They also come from different issuers: American Century and iShares. Their fees differ too: 0.29% for KORP and 0.15% for GOVZ.

Which has better risk-adjusted returns?

KORP currently has the higher Sharpe Ratio (1.56 vs 0.27), 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.