TLH vs. GGOV
TLH (iShares 10-20 Year Treasury Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index, while GGOV is a Global Bonds fund managed by iShares. A 0.62 correlation means they provide meaningful diversification when combined. TLH charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
TLH vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TLH achieves a -0.51% return, which is significantly lower than GGOV's 2.30% return.
TLH
- 1D
- -0.38%
- 1M
- 0.62%
- YTD
- -0.51%
- 6M
- -1.42%
- 1Y
- 5.33%
- 3Y*
- 0.59%
- 5Y*
- -3.80%
- 10Y*
- -0.83%
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLH vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | -0.51% | 2.91% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between TLH and GGOV is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025 | 0.62 |
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Return for Risk
TLH vs. GGOV — Risk / Return Rank
TLH
GGOV
TLH vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) 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.
| TLH | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.12 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | — | — |
| Martin ratioReturn relative to average drawdown | 2.28 | — | — |
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
| TLH | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.30 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | -0.11 | +0.39 |
Drawdowns
TLH vs. GGOV - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for TLH and GGOV.
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Drawdown Indicators
| TLH | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -4.69% | -36.45% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | — | — |
Current DrawdownCurrent decline from peak | -29.82% | -1.50% | -28.32% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -1.59% | -9.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | — | — |
Volatility
TLH vs. GGOV - Volatility Comparison
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Volatility by Period
| TLH | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 5.38% | +2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.70% | 5.38% | +7.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 5.38% | +5.81% |
TLH vs. GGOV - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
TLH vs. GGOV - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.48%, 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% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.48% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Frequently Asked Questions
TLH and GGOV have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLH is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
TLH has the higher dividend yield at 4.48%, compared with 0.00% for GGOV.
TLH is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.15% for TLH and 0.39% for GGOV.
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