TLTX vs. GGOV

Last updated Jun 4, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - TLTX is a Government Bonds fund actively managed by Global X, while GGOV is a Global Bonds fund managed by iShares. At a 0.31 correlation, their price movements are largely independent. TLTX charges 0.29%/yr vs 0.39%/yr for GGOV.

Performance

TLTX vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLTX achieves a -0.36% return, which is significantly lower than GGOV's 2.30% return.

TLTX

• 1D: -0.37%
• 1M: -0.19%
• YTD: -0.36%
• 6M: -1.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.16%
• 1M: 0.60%
• YTD: 2.30%
• 6M: -1.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TLTX vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	-0.36%	5.40%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.30%	-2.39%

Correlation

The correlation between TLTX and GGOV is 0.31, 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 Jul 17, 2025	0.31

Return for Risk

TLTX vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TLTX	GGOV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	-0.11	+0.74

Drawdowns

TLTX vs. GGOV - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for TLTX and GGOV.

Drawdown Indicators

	TLTX	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-4.69%	-1.66%
Current Drawdown Current decline from peak	-4.05%	-1.50%	-2.55%
Average Drawdown Average peak-to-trough decline	-2.27%	-1.59%	-0.68%

Volatility

Volatility by Period

	TLTX	GGOV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	5.38%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.14%	5.38%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	5.38%	+3.76%

TLTX vs. GGOV - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

TLTX vs. GGOV - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 15.79%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%
TLTX Global X Treasury Bond Enhanced Income ETF	15.79%	7.54%

Frequently Asked Questions

Can I hold both TLTX and GGOV in my portfolio?

TLTX and GGOV have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLTX or GGOV?

On fees, TLTX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TLTX or GGOV?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.39% for GGOV.

Which ETF pays a higher dividend yield, TLTX or GGOV?

TLTX has the higher dividend yield at 15.79%, compared with 0.00% for GGOV.

What is the main difference between TLTX and GGOV?

TLTX is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Global X and iShares. Their fees differ too: 0.29% for TLTX and 0.39% for GGOV.