SHV vs. GGOV
SHV (iShares 0-1 Year Treasury Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index, while GGOV is a Global Bonds fund managed by iShares. At a 0.10 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
SHV vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SHV achieves a 1.42% return, which is significantly lower than GGOV's 2.30% return.
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHV vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 2.16% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between SHV and GGOV is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025 | 0.10 |
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Return for Risk
SHV vs. GGOV — Risk / Return Rank
SHV
GGOV
SHV vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year Treasury Bond ETF (SHV) 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.
| SHV | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 53.77 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 431.38 | — | — |
| Martin ratioReturn relative to average drawdown | 2,419.80 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHV | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 19.49 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.56 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 8.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.50 | -0.11 | +4.61 |
Drawdowns
SHV vs. GGOV - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.45%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for SHV and GGOV.
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Drawdown Indicators
| SHV | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.45% | -4.69% | +4.24% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -0.45% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.50% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -1.59% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | — | — |
Volatility
SHV vs. GGOV - Volatility Comparison
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Volatility by Period
| SHV | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 5.38% | -5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 5.38% | -5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 5.38% | -5.10% |
SHV vs. GGOV - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
SHV vs. GGOV - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 3.83%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
SHV and GGOV have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHV is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
SHV has the higher dividend yield at 3.83%, compared with 0.00% for GGOV.
SHV is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.15% for SHV and 0.39% for GGOV.
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