SPSK vs. GGOV
SPSK (SP Funds Dow Jones Global Sukuk ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both Global Bonds funds. Over the past year, SPSK returned 2.66% vs 0.02% for GGOV. At a 0.38 correlation, their price movements are largely independent. SPSK charges 0.50%/yr vs 0.39%/yr for GGOV.
Performance
SPSK vs. GGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPSK achieves a -0.13% return, which is significantly lower than GGOV's 2.47% return.
SPSK
- 1D
- -0.08%
- 1M
- -0.43%
- 6M
- -0.04%
- YTD
- -0.13%
- 1Y
- 2.66%
- 3Y*
- 4.08%
- 5Y*
- 0.83%
- 10Y*
- —
GGOV
- 1D
- -0.18%
- 1M
- -0.40%
- 6M
- 3.01%
- YTD
- 2.47%
- 1Y
- 0.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPSK vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | -0.13% | 2.84% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.47% | -2.80% |
Correlation
The correlation between SPSK and GGOV is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.38 |
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
SPSK vs. GGOV — Risk / Return Rank
SPSK
GGOV
SPSK vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) 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.
| SPSK | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.01 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.00 | +0.93 |
| Martin ratioReturn relative to average drawdown | 2.96 | 0.01 | +2.95 |
Loading charts...
Drawdowns
SPSK vs. GGOV - Drawdown Comparison
The maximum SPSK drawdown since its inception was -12.83%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for SPSK and GGOV.
Loading charts...
Drawdown Indicators
| SPSK | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.83% | -4.69% | -8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -4.69% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -3.08% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | — | — |
Current DrawdownCurrent decline from peak | -1.18% | -1.34% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -1.54% | -2.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 2.12% | -1.22% |
Volatility
SPSK vs. GGOV - Volatility Comparison
The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 0.73%, while iShares Global Government Bond USD Hedged Active ETF (GGOV) has a volatility of 0.88%. This indicates that SPSK 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.
Loading charts...
Volatility by Period
| SPSK | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 0.88% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 3.62% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 5.29% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 5.18% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 5.18% | +0.25% |
SPSK vs. GGOV - Expense Ratio Comparison
SPSK has a 0.50% expense ratio, which is higher than GGOV's 0.39% expense ratio.
Dividends
SPSK vs. GGOV - Dividend Comparison
SPSK's dividend yield for the trailing twelve months is around 4.37%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.37% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% |
Frequently Asked Questions
SPSK and GGOV have a correlation of 0.38, 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 SPSK (0.73%). In terms of maximum drawdown, SPSK dropped -12.83% vs GGOV's -4.69%.
On 1-year performance, SPSK leads with 2.66% vs 0.02% for GGOV. On fees, GGOV is cheaper at 0.39% per year. On volatility, SPSK has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPSK has performed better with a 2.66% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGOV is cheaper with a 0.39% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.37%, compared with 0.00% for GGOV.
They also come from different issuers: SP Funds and iShares. Their fees differ too: 0.50% for SPSK and 0.39% for GGOV.
SPSK currently has the higher Sharpe Ratio (0.71 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.
Find the right allocation for SPSK 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