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 0.11 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
SHV vs. GGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHV achieves a 1.60% return, which is significantly lower than GGOV's 2.75% return.
SHV
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.60%
- 6M
- 1.70%
- 1Y
- 3.83%
- 3Y*
- 4.61%
- 5Y*
- 3.35%
- 10Y*
- 2.23%
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHV vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.60% | 2.18% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
Correlation
The correlation between SHV and GGOV is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.11 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHV vs. GGOV — Risk / Return Rank
SHV
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| SHV | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 35.59 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 141.48 | — | — |
| Martin ratioReturn relative to average drawdown | 1,585.41 | — | — |
Loading charts...
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.
Loading charts...
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 | -0.03% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -0.45% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.06% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -1.57% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | — | — |
Volatility
SHV vs. GGOV - Volatility Comparison
Loading charts...
Volatility by Period
| SHV | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.21% | 5.28% | -5.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 5.28% | -4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 5.28% | -5.00% |
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 0.11, 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.
Find the right allocation for SHV and GGOV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer