MLDR vs. GGOV
MLDR (Global X Intermediate-Term Treasury Ladder ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - MLDR is a Government Bonds fund managed by Global X, while GGOV is a Global Bonds fund managed by iShares. Over the past year, MLDR returned 2.54% vs -0.52% for GGOV. A 0.64 correlation means they provide meaningful diversification when combined. MLDR charges 0.12%/yr vs 0.39%/yr for GGOV.
Performance
MLDR vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, MLDR achieves a -0.72% return, which is significantly lower than GGOV's 2.12% return.
MLDR
- 1D
- -0.23%
- 1M
- -0.23%
- 6M
- -0.53%
- YTD
- -0.72%
- 1Y
- 2.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 1.55%
GGOV
- 1D
- -0.28%
- 1M
- -0.78%
- 6M
- 2.71%
- YTD
- 2.12%
- 1Y
- -0.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.69%
MLDR vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MLDR Global X Intermediate-Term Treasury Ladder ETF | -0.72% | 2.87% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.12% | -2.80% |
Correlation
The correlation between MLDR and GGOV is 0.64, 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 | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.64 |
The correlation between MLDR and GGOV has been stable across timeframes, ranging from 0.64 to 0.64 - a consistent structural relationship.
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Return for Risk
MLDR vs. GGOV — Risk / Return Rank
MLDR
GGOV
MLDR vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Intermediate-Term Treasury Ladder ETF (MLDR) 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.
| MLDR | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.99 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | -0.11 | +0.89 |
| Martin ratioReturn relative to average drawdown | 1.95 | -0.24 | +2.20 |
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Drawdowns
MLDR vs. GGOV - Drawdown Comparison
The maximum MLDR drawdown since its inception was -4.55%, roughly equal to the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for MLDR and GGOV.
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Drawdown Indicators
| MLDR | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.55% | -4.69% | +0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -4.69% | +1.43% |
Current DrawdownCurrent decline from peak | -2.36% | -1.68% | -0.68% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -1.54% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 2.13% | -0.83% |
Volatility
MLDR vs. GGOV - Volatility Comparison
Global X Intermediate-Term Treasury Ladder ETF (MLDR) has a higher volatility of 1.08% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.88%. This indicates that MLDR'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.
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Volatility by Period
| MLDR | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 0.88% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.88% | 3.62% | -0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.68% | 5.29% | -1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 5.16% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 5.16% | -1.01% |
MLDR vs. GGOV - Expense Ratio Comparison
MLDR has a 0.12% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
MLDR vs. GGOV - Dividend Comparison
MLDR's dividend yield for the trailing twelve months is around 3.81%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% |
MLDR Global X Intermediate-Term Treasury Ladder ETF | 3.81% | 3.57% | 1.11% |
Frequently Asked Questions
MLDR and GGOV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLDR has higher volatility (1.08%) compared to GGOV (0.88%). In terms of maximum drawdown, MLDR dropped -4.55% vs GGOV's -4.69%.
On 1-year performance, MLDR leads with 2.54% vs -0.52% for GGOV. On fees, MLDR is cheaper at 0.12% per year. On volatility, GGOV has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MLDR has performed better with a 2.54% return vs -0.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLDR is cheaper with a 0.12% expense ratio, compared with 0.39% for GGOV.
MLDR has the higher dividend yield at 3.81%, compared with 0.00% for GGOV.
MLDR is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Global X and iShares. Their fees differ too: 0.12% for MLDR and 0.39% for GGOV.
MLDR currently has the higher Sharpe Ratio (0.69 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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