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. At a 0.36 correlation, their price movements are largely independent. SPSK charges 0.50%/yr vs 0.39%/yr for GGOV.
Performance
SPSK vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SPSK achieves a 0.03% return, which is significantly lower than GGOV's 2.30% return.
SPSK
- 1D
- -0.22%
- 1M
- 0.40%
- YTD
- 0.03%
- 6M
- -0.08%
- 1Y
- 3.74%
- 3Y*
- 3.95%
- 5Y*
- 0.83%
- 10Y*
- —
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPSK vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | 0.03% | 2.84% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between SPSK and GGOV is 0.36, 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 27, 2025 | 0.36 |
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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.
| SPSK | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | — | — |
| Martin ratioReturn relative to average drawdown | 4.43 | — | — |
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
| SPSK | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | -0.11 | +0.32 |
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.
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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% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -1.50% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -1.59% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | — | — |
Volatility
SPSK vs. GGOV - Volatility Comparison
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Volatility by Period
| SPSK | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 5.38% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 5.38% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 5.38% | +0.08% |
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 4.24%, 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 | 4.24% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% |
Frequently Asked Questions
SPSK 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.
On fees, GGOV is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GGOV is cheaper with a 0.39% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.24%, 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.
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