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 0.62 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 -0.05% return, which is significantly lower than GGOV's 2.16% return.
TLT
- 1D
- 0.22%
- 1M
- 0.48%
- YTD
- -0.05%
- 6M
- -1.27%
- 1Y
- 3.48%
- 3Y*
- -1.67%
- 5Y*
- -6.27%
- 10Y*
- -1.56%
GGOV
- 1D
- -0.14%
- 1M
- -0.11%
- YTD
- 2.16%
- 6M
- -1.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -0.05% | 1.70% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.16% | -2.81% |
Correlation
The correlation between TLT 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
TLT vs. GGOV — Risk / Return Rank
TLT
GGOV
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.
| TLT | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.07 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | — | — |
| Martin ratioReturn relative to average drawdown | 1.14 | — | — |
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
| TLT | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | -0.14 | +0.40 |
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 | -40.31% | -1.64% | -38.67% |
Average DrawdownAverage peak-to-trough decline | -13.82% | -1.59% | -12.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | — | — |
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 | 2.71% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.50% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.77% | 5.37% | +4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 5.37% | +10.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 5.37% | +9.53% |
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 4.58%, 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 | 4.58% | 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 0.62, 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 4.58%, 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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