MGOV vs. XTEN
MGOV (First Trust Intermediate Government Opportunities ETF) and XTEN (BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF) are both Government Bonds funds. MGOV is actively managed, while XTEN is passively managed. Over the past 3 years, MGOV returned 4.64%/yr vs 2.43%/yr for XTEN. Their correlation of 0.91 means they have usually moved in the same direction. MGOV charges 0.65%/yr vs 0.07%/yr for XTEN.
Performance
MGOV vs. XTEN - Performance Comparison
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Returns By Period
In the year-to-date period, MGOV achieves a -0.08% return, which is significantly higher than XTEN's -1.22% return.
MGOV
- 1D
- 0.40%
- 1M
- -0.83%
- 6M
- -0.37%
- YTD
- -0.08%
- 1Y
- 3.18%
- 3Y*
- 4.64%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.81%
XTEN
- 1D
- 0.68%
- 1M
- -1.32%
- 6M
- -1.02%
- YTD
- -1.22%
- 1Y
- 0.60%
- 3Y*
- 2.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $301.27K | $575.46K | $601.44K | |
| $11.47M | $8.89M | $12.64M |
MGOV vs. XTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | -0.08% | 8.54% | 1.55% | 4.56% |
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | -1.22% | 7.37% | -2.15% | 3.70% |
Correlation
The correlation between MGOV and XTEN is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023 | 0.91 |
The correlation between MGOV and XTEN has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
MGOV vs. XTEN — Risk / Return Rank
MGOV
XTEN
MGOV vs. XTEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Government Opportunities ETF (MGOV) and BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN). 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.
| MGOV | XTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.02 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.11 | +0.79 |
| Martin ratioReturn relative to average drawdown | 2.18 | 0.26 | +1.92 |
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Drawdowns
MGOV vs. XTEN - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum XTEN drawdown of -13.86%. Use the drawdown chart below to compare losses from any high point for MGOV and XTEN.
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Drawdown Indicators
| MGOV | XTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -13.86% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -5.42% | +1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -9.30% | +3.19% |
Current DrawdownCurrent decline from peak | -2.63% | -4.17% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -4.01% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 2.35% | -0.89% |
Volatility
MGOV vs. XTEN - Volatility Comparison
The current volatility for First Trust Intermediate Government Opportunities ETF (MGOV) is 1.31%, while BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) has a volatility of 1.87%. This indicates that MGOV experiences smaller price fluctuations and is considered to be less risky than XTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGOV | XTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.87% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 3.44% | 4.86% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 6.14% | -1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.87% | 9.45% | -3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.87% | 9.45% | -3.58% |
MGOV vs. XTEN - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is higher than XTEN's 0.08% expense ratio.
Dividends
MGOV vs. XTEN - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.92%, more than XTEN's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 4.92% | 4.95% | 5.05% | 1.47% | 0.00% |
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 4.43% | 4.05% | 4.21% | 3.71% | 1.04% |
Frequently Asked Questions
MGOV and XTEN have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XTEN has higher volatility (1.87%) compared to MGOV (1.31%). In terms of maximum drawdown, MGOV dropped -6.11% vs XTEN's -13.86%.
On 3-year performance, MGOV leads with 4.64% vs 2.43% for XTEN. On fees, XTEN is cheaper at 0.07% per year. On volatility, MGOV has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MGOV has performed better with a 4.64% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTEN is cheaper with a 0.07% expense ratio, compared with 0.65% for MGOV.
MGOV has the higher dividend yield at 4.92%, compared with 4.43% for XTEN.
They also come from different issuers: First Trust and BondBloxx. Their fees differ too: 0.65% for MGOV and 0.07% for XTEN.
MGOV currently has the higher Sharpe Ratio (0.73 vs 0.10), 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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