TLT vs. GGOV
TLT (iShares 20+ Year Treasury Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while GGOV is a Global Bonds fund managed by iShares. A 0.61 correlation means they provide meaningful diversification when combined. TLT charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
TLT vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a 2.15% return, which is significantly lower than GGOV's 2.84% return.
TLT
- 1D
- 1.37%
- 1M
- 3.59%
- YTD
- 2.15%
- 6M
- 1.14%
- 1Y
- 4.54%
- 3Y*
- -1.45%
- 5Y*
- -6.14%
- 10Y*
- -1.61%
GGOV
- 1D
- 0.09%
- 1M
- 0.69%
- YTD
- 2.84%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 2.15% | 2.21% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.84% | -2.80% |
Correlation
The correlation between TLT and GGOV is 0.61, 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 26, 2025 | 0.61 |
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Return for Risk
TLT vs. GGOV — Risk / Return Rank
TLT
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TLT vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) 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.
| TLT | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.08 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | — | — |
| Martin ratioReturn relative to average drawdown | 1.43 | — | — |
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Drawdowns
TLT vs. GGOV - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for TLT and GGOV.
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Drawdown Indicators
| TLT | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -4.69% | -43.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | — | — |
Current DrawdownCurrent decline from peak | -38.99% | -0.98% | -38.01% |
Average DrawdownAverage peak-to-trough decline | -13.87% | -1.56% | -12.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | — | — |
Volatility
TLT vs. GGOV - Volatility Comparison
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Volatility by Period
| TLT | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.57% | 5.27% | +4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 5.27% | +10.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.89% | 5.27% | +9.62% |
TLT vs. GGOV - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
TLT vs. GGOV - Dividend Comparison
TLT'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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.48% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
TLT and GGOV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLT is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLT is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
TLT has the higher dividend yield at 4.48%, compared with 0.00% for GGOV.
TLT is categorized as Government Bonds, while GGOV is Global Bonds. Their fees differ too: 0.15% for TLT and 0.39% for GGOV.
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