UTEN vs. GGOV

Last updated Jun 24, 2026

UTEN (US Treasury 10 Year Note ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - UTEN is a Government Bonds fund tracking the ICE BofA Current 10 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. UTEN charges 0.15%/yr vs 0.39%/yr for GGOV.

Performance

UTEN vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 10 Year Note ETF (UTEN) 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, UTEN achieves a -0.46% return, which is significantly lower than GGOV's 2.75% return.

UTEN

• 1D: 0.12%
• 1M: 0.82%
• YTD: -0.46%
• 6M: -0.40%
• 1Y: 3.23%
• 3Y*: 2.00%
• 5Y*: —
• 10Y*: —

GGOV

• 1D: 0.02%
• 1M: 0.60%
• YTD: 2.75%
• 6M: 2.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UTEN vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
UTEN US Treasury 10 Year Note ETF	-0.46%	3.26%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.75%	-2.80%

Correlation

The correlation between UTEN 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 26, 2025	0.64

Return for Risk

UTEN vs. GGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UTEN

UTEN Risk / Return Rank: 18
UTEN Sharpe Ratio Rank: 19
UTEN Sortino Ratio Rank: 18
UTEN Omega Ratio Rank: 17
UTEN Calmar Ratio Rank: 17
UTEN Martin Ratio Rank: 19

GGOV

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UTEN vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 10 Year Note ETF (UTEN) 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.

	UTEN	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	0.63	—	—
Sortino ratio: Return per unit of downside risk	0.96	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.71	—	—
Martin ratio: Return relative to average drawdown	1.96	—	—

Drawdowns

UTEN vs. GGOV - Drawdown Comparison

The maximum UTEN drawdown since its inception was -13.36%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for UTEN and GGOV.

Drawdown Indicators

	UTEN	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-13.36%	-4.69%	-8.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.60%	—	—
Current Drawdown Current decline from peak	-2.82%	-1.06%	-1.76%
Average Drawdown Average peak-to-trough decline	-4.80%	-1.57%	-3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	—	—

Volatility

Volatility by Period

	UTEN	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.16%	5.28%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.02%	5.28%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.02%	5.28%	+2.74%

UTEN vs. GGOV - Expense Ratio Comparison

UTEN has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

UTEN vs. GGOV - Dividend Comparison

UTEN's dividend yield for the trailing twelve months is around 4.04%, while GGOV has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%	0.00%	0.00%	0.00%	0.00%
UTEN US Treasury 10 Year Note ETF	4.04%	4.11%	4.13%	3.62%	1.39%

Frequently Asked Questions

Can I hold both UTEN and GGOV in my portfolio?

UTEN 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.

Which ETF is better, UTEN or GGOV?

On fees, UTEN is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UTEN or GGOV?

UTEN is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.

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

UTEN has the higher dividend yield at 4.04%, compared with 0.00% for GGOV.

What is the main difference between UTEN and GGOV?

UTEN 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 UTEN and 0.39% for GGOV.