LFBE vs. GGOV

Last updated Jul 11, 2026

LFBE (LifeX 2065 Longevity Income ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - LFBE is a Government Bonds fund actively managed by Stone Ridge, while GGOV is a Global Bonds fund managed by iShares. Over the past year, LFBE returned 2.81% vs 0.46% for GGOV. A 0.62 correlation means they provide meaningful diversification when combined. LFBE charges 0.25%/yr vs 0.39%/yr for GGOV.

Performance

LFBE vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2065 Longevity Income ETF (LFBE) 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, LFBE achieves a -0.91% return, which is significantly lower than GGOV's 2.69% return.

LFBE

• 1D: -0.08%
• 1M: -0.89%
• 6M: -1.53%
• YTD: -0.91%
• 1Y: 2.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: 0.16%
• 1M: 0.22%
• 6M: 2.94%
• YTD: 2.69%
• 1Y: 0.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LFBE vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
LFBE LifeX 2065 Longevity Income ETF	-0.91%	2.38%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.69%	-2.80%

Correlation

The correlation between LFBE 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 (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.62

The correlation between LFBE and GGOV has been stable across timeframes, ranging from 0.62 to 0.63 - a consistent structural relationship.

Return for Risk

LFBE vs. GGOV — Risk / Return Rank

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

LFBE

LFBE Risk / Return Rank: 12
LFBE Sharpe Ratio Rank: 13
LFBE Sortino Ratio Rank: 12
LFBE Omega Ratio Rank: 11
LFBE Calmar Ratio Rank: 13
LFBE Martin Ratio Rank: 13

GGOV

GGOV Risk / Return Rank: 10
GGOV Sharpe Ratio Rank: 11
GGOV Sortino Ratio Rank: 9
GGOV Omega Ratio Rank: 9
GGOV Calmar Ratio Rank: 10
GGOV 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.

LFBE vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2065 Longevity Income ETF (LFBE) 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.

	LFBE	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	0.21	0.06	+0.14
Sortino ratio: Return per unit of downside risk	0.35	0.11	+0.24
Omega ratio: Gain probability vs. loss probability	1.04	1.02	+0.02
Calmar ratio: Return relative to maximum drawdown	0.25	0.07	+0.18
Martin ratio: Return relative to average drawdown	0.60	0.16	+0.45

LFBE vs. GGOV - Sharpe Ratio Comparison

The current LFBE Sharpe Ratio is 0.21, which is higher than the GGOV Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of LFBE and GGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LFBE vs. GGOV - Drawdown Comparison

The maximum LFBE drawdown since its inception was -7.65%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for LFBE and GGOV.

Drawdown Indicators

	LFBE	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-7.65%	-4.69%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.76%	-4.69%	-2.07%
Current Drawdown Current decline from peak	-4.62%	-1.12%	-3.50%
Average Drawdown Average peak-to-trough decline	-2.93%	-1.54%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.12%	+0.66%

Volatility

LFBE vs. GGOV - Volatility Comparison

LifeX 2065 Longevity Income ETF (LFBE) has a higher volatility of 2.53% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.95%. This indicates that LFBE's price experiences larger fluctuations and is considered to be riskier than GGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LFBE	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	0.95%	+1.58%
Volatility (6M) Calculated over the trailing 6-month period	6.03%	3.60%	+2.43%
Volatility (1Y) Calculated over the trailing 1-year period	8.13%	5.27%	+2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.29%	5.20%	+4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.29%	5.20%	+4.09%

LFBE vs. GGOV - Expense Ratio Comparison

LFBE has a 0.25% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

LFBE vs. GGOV - Dividend Comparison

LFBE's dividend yield for the trailing twelve months is around 8.33%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%
LFBE LifeX 2065 Longevity Income ETF	8.33%	12.22%

Frequently Asked Questions

Can I hold both LFBE and GGOV in my portfolio?

LFBE 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 is riskier, LFBE or GGOV?

LFBE has higher volatility (2.53%) compared to GGOV (0.95%). In terms of maximum drawdown, LFBE dropped -7.65% vs GGOV's -4.69%.

Which ETF is better, LFBE or GGOV?

On 1-year performance, LFBE leads with 2.81% vs 0.46% for GGOV. On fees, LFBE is cheaper at 0.25% per year. On volatility, GGOV has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LFBE or GGOV?

Over the 1-year period, LFBE has performed better with a 2.81% return vs 0.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LFBE or GGOV?

LFBE is cheaper with a 0.25% expense ratio, compared with 0.39% for GGOV.

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

LFBE has the higher dividend yield at 8.33%, compared with 0.00% for GGOV.

What is the main difference between LFBE and GGOV?

LFBE is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Stone Ridge and iShares. Their fees differ too: 0.25% for LFBE and 0.39% for GGOV.

Which has better risk-adjusted returns?

LFBE currently has the higher Sharpe Ratio (0.21 vs 0.06), 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.