OBIL vs. GGOV
OBIL (US Treasury 12 Month Bill ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - OBIL is a Government Bonds fund tracking the ICE BofA US 1-Year Treasury Bill Index - Benchmark TR Gross, while GGOV is a Global Bonds fund managed by iShares. Over the past year, OBIL returned 3.75% vs 0.02% for GGOV. At a 0.36 correlation, their price movements are largely independent. OBIL charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
OBIL vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, OBIL achieves a 1.57% return, which is significantly lower than GGOV's 2.47% return.
OBIL
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 1.49%
- YTD
- 1.57%
- 1Y
- 3.75%
- 3Y*
- 4.52%
- 5Y*
- —
- 10Y*
- —
GGOV
- 1D
- -0.18%
- 1M
- -0.40%
- 6M
- 3.01%
- YTD
- 2.47%
- 1Y
- 0.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OBIL vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OBIL US Treasury 12 Month Bill ETF | 1.57% | 2.26% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.47% | -2.80% |
Correlation
The correlation between OBIL and GGOV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.36 |
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Return for Risk
OBIL vs. GGOV — Risk / Return Rank
OBIL
GGOV
OBIL vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 12 Month Bill ETF (OBIL) 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.
| OBIL | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.46 | ||
| Sortino ratioReturn per unit of downside risk | +13.07 | ||
| Omega ratioGain probability vs. loss probability | 3.33 | 1.01 | +2.32 |
| Calmar ratioReturn relative to maximum drawdown | 25.15 | 0.00 | +25.14 |
| Martin ratioReturn relative to average drawdown | 128.49 | 0.01 | +128.48 |
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Drawdowns
OBIL vs. GGOV - Drawdown Comparison
The maximum OBIL drawdown since its inception was -0.33%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for OBIL and GGOV.
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Drawdown Indicators
| OBIL | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.33% | -4.69% | +4.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -4.69% | +4.54% |
Max Drawdown (3Y)Largest decline over 3 years | -0.21% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.34% | +1.34% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -1.54% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.12% | -2.09% |
Volatility
OBIL vs. GGOV - Volatility Comparison
The current volatility for US Treasury 12 Month Bill ETF (OBIL) is 0.25%, while iShares Global Government Bond USD Hedged Active ETF (GGOV) has a volatility of 0.88%. This indicates that OBIL experiences smaller price fluctuations and is considered to be less risky 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
| OBIL | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.88% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 0.40% | 3.62% | -3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.58% | 5.29% | -4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.82% | 5.18% | -4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.82% | 5.18% | -4.36% |
OBIL vs. GGOV - Expense Ratio Comparison
OBIL has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
OBIL vs. GGOV - Dividend Comparison
OBIL's dividend yield for the trailing twelve months is around 3.59%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OBIL US Treasury 12 Month Bill ETF | 3.59% | 3.83% | 4.56% | 4.92% | 0.52% |
Frequently Asked Questions
OBIL and GGOV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGOV has higher volatility (0.88%) compared to OBIL (0.25%). In terms of maximum drawdown, OBIL dropped -0.33% vs GGOV's -4.69%.
On 1-year performance, OBIL leads with 3.75% vs 0.02% for GGOV. On fees, OBIL is cheaper at 0.15% per year. On volatility, OBIL has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OBIL has performed better with a 3.75% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OBIL is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
OBIL has the higher dividend yield at 3.59%, compared with 0.00% for GGOV.
OBIL is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: US Benchmark Series and iShares. Their fees differ too: 0.15% for OBIL and 0.39% for GGOV.
OBIL currently has the higher Sharpe Ratio (6.46 vs 0.00), 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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