USVN vs. GGOV
USVN (US Treasury 7 Year Note ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - USVN is a Government Bonds fund tracking the ICE BofA Current 7-Year US Treasury Index - Benchmark TR Gross, while GGOV is a Global Bonds fund managed by iShares. A 0.64 correlation means they provide meaningful diversification when combined. USVN charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
USVN vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, USVN achieves a -0.70% return, which is significantly lower than GGOV's 2.30% return.
USVN
- 1D
- -0.22%
- 1M
- -0.18%
- YTD
- -0.70%
- 6M
- -1.08%
- 1Y
- 3.56%
- 3Y*
- 2.70%
- 5Y*
- —
- 10Y*
- —
GGOV
- 1D
- -0.16%
- 1M
- 0.60%
- YTD
- 2.30%
- 6M
- -1.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USVN vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
USVN US Treasury 7 Year Note ETF | -0.70% | 2.53% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.30% | -2.81% |
Correlation
The correlation between USVN and GGOV is 0.64, 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 | 0.64 |
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Return for Risk
USVN vs. GGOV — Risk / Return Rank
USVN
GGOV
USVN vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 7 Year Note ETF (USVN) 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.
| USVN | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.14 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | — | — |
| Martin ratioReturn relative to average drawdown | 2.89 | — | — |
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
| USVN | GGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | -0.11 | +0.52 |
Drawdowns
USVN vs. GGOV - Drawdown Comparison
The maximum USVN drawdown since its inception was -8.27%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for USVN and GGOV.
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Drawdown Indicators
| USVN | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.27% | -4.69% | -3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.68% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.89% | — | — |
Current DrawdownCurrent decline from peak | -2.67% | -1.50% | -1.17% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -1.59% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | — | — |
Volatility
USVN vs. GGOV - Volatility Comparison
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Volatility by Period
| USVN | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 5.38% | -1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 5.38% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 5.38% | +0.41% |
USVN vs. GGOV - Expense Ratio Comparison
USVN has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
USVN vs. GGOV - Dividend Comparison
USVN's dividend yield for the trailing twelve months is around 3.75%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% |
USVN US Treasury 7 Year Note ETF | 3.75% | 3.81% | 4.07% | 2.91% |
Frequently Asked Questions
USVN and GGOV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USVN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USVN is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
USVN has the higher dividend yield at 3.75%, compared with 0.00% for GGOV.
USVN is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: US Benchmark Series and iShares. Their fees differ too: 0.15% for USVN and 0.39% for GGOV.
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