UTHY vs. GOVZ

Last updated Jun 4, 2026

UTHY (US Treasury 30 Year Bond ETF) and GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) are both Government Bonds funds - UTHY tracks the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross while GOVZ tracks the ICE BofA Long US Treasury Principal STRIPS Index. Both are passively managed. Over the past 3 years, UTHY returned -2.16%/yr vs -7.43%/yr for GOVZ. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.

Performance

UTHY vs. GOVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Treasury 30 Year Bond ETF (UTHY) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UTHY achieves a -0.35% return, which is significantly higher than GOVZ's -0.94% return.

UTHY

• 1D: -0.33%
• 1M: 0.79%
• YTD: -0.35%
• 6M: -1.86%
• 1Y: 4.46%
• 3Y*: -2.16%
• 5Y*: —
• 10Y*: —

GOVZ

• 1D: -0.50%
• 1M: 1.73%
• YTD: -0.94%
• 6M: -4.35%
• 1Y: 3.91%
• 3Y*: -7.43%
• 5Y*: -11.53%
• 10Y*: —

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

UTHY vs. GOVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UTHY US Treasury 30 Year Bond ETF	-0.35%	3.47%	-8.07%	-2.67%
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	-0.94%	-1.81%	-16.24%	-5.40%

Correlation

The correlation between UTHY and GOVZ is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 29, 2023	0.98

The correlation between UTHY and GOVZ has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

UTHY vs. GOVZ — Risk / Return Rank

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

UTHY

UTHY Risk / Return Rank: 16
UTHY Sharpe Ratio Rank: 16
UTHY Sortino Ratio Rank: 15
UTHY Omega Ratio Rank: 15
UTHY Calmar Ratio Rank: 17
UTHY Martin Ratio Rank: 16

GOVZ

GOVZ Risk / Return Rank: 12
GOVZ Sharpe Ratio Rank: 12
GOVZ Sortino Ratio Rank: 12
GOVZ Omega Ratio Rank: 11
GOVZ Calmar Ratio Rank: 12
GOVZ Martin Ratio Rank: 12

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.

UTHY vs. GOVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) and iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ). 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.

	UTHY	GOVZ	Difference
Sharpe ratio Return per unit of total volatility	0.48	0.24	+0.23
Sortino ratio Return per unit of downside risk	0.75	0.47	+0.29
Omega ratio Gain probability vs. loss probability	1.08	1.05	+0.03
Calmar ratio Return relative to maximum drawdown	0.61	0.28	+0.33
Martin ratio Return relative to average drawdown	1.54	0.63	+0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTHY vs. GOVZ - Sharpe Ratio Comparison

The current UTHY Sharpe Ratio is 0.48, which is higher than the GOVZ Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of UTHY and GOVZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UTHY	GOVZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	0.24	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.18	-0.58	+0.40

Drawdowns

UTHY vs. GOVZ - Drawdown Comparison

The maximum UTHY drawdown since its inception was -21.86%, smaller than the maximum GOVZ drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for UTHY and GOVZ.

Drawdown Indicators

	UTHY	GOVZ	Difference
Max Drawdown Largest peak-to-trough decline	-21.86%	-59.65%	+37.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.34%	-14.16%	+6.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.58%	-28.72%	+10.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-57.63%	—
Current Drawdown Current decline from peak	-11.44%	-56.47%	+45.03%
Average Drawdown Average peak-to-trough decline	-10.72%	-39.91%	+29.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	6.21%	-3.30%

Volatility

UTHY vs. GOVZ - Volatility Comparison

The current volatility for US Treasury 30 Year Bond ETF (UTHY) is 2.72%, while iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a volatility of 4.27%. This indicates that UTHY experiences smaller price fluctuations and is considered to be less risky than GOVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTHY	GOVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	4.27%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	6.21%	10.50%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	9.41%	16.26%	-6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.65%	23.93%	-10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.65%	23.35%	-9.70%

UTHY vs. GOVZ - Expense Ratio Comparison

Both UTHY and GOVZ have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

UTHY vs. GOVZ - Dividend Comparison

UTHY's dividend yield for the trailing twelve months is around 4.64%, less than GOVZ's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF	5.18%	5.00%	4.68%	3.84%	3.69%	1.76%	0.39%
UTHY US Treasury 30 Year Bond ETF	4.64%	4.53%	4.58%	2.81%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UTHY and GOVZ in my portfolio?

With a correlation of 0.98, UTHY and GOVZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UTHY or GOVZ?

GOVZ has higher volatility (4.27%) compared to UTHY (2.72%). In terms of maximum drawdown, UTHY dropped -21.86% vs GOVZ's -59.65%.

Which ETF is better, UTHY or GOVZ?

On 3-year performance, UTHY leads with -2.16% vs -7.43% for GOVZ. Both ETFs have the same 0.15% expense ratio. On volatility, UTHY has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UTHY or GOVZ?

Over the 3-year period, UTHY has performed better with a -2.16% return vs -7.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UTHY or GOVZ?

UTHY and GOVZ have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, UTHY or GOVZ?

GOVZ has the higher dividend yield at 5.18%, compared with 4.64% for UTHY.

What is the main difference between UTHY and GOVZ?

UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index. They also come from different issuers: US Benchmark Series and iShares.

Which has better risk-adjusted returns?

UTHY currently has the higher Sharpe Ratio (0.48 vs 0.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.