UTWY vs. GGOV
UTWY (F/m US Treasury 20 Year Bond ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index, while GGOV is a Global Bonds fund managed by iShares. A 0.62 correlation means they provide meaningful diversification when combined. UTWY charges 0.15%/yr vs 0.39%/yr for GGOV.
Performance
UTWY vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, UTWY achieves a 0.13% return, which is significantly lower than GGOV's 2.75% return.
UTWY
- 1D
- 0.14%
- 1M
- 1.73%
- YTD
- 0.13%
- 6M
- 0.04%
- 1Y
- 3.50%
- 3Y*
- -0.43%
- 5Y*
- —
- 10Y*
- —
GGOV
- 1D
- 0.02%
- 1M
- 0.60%
- YTD
- 2.75%
- 6M
- 2.61%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UTWY vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | 0.13% | 2.77% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.75% | -2.80% |
Correlation
The correlation between UTWY 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 26, 2025 | 0.62 |
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Return for Risk
UTWY vs. GGOV — Risk / Return Rank
UTWY
GGOV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UTWY vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/m US Treasury 20 Year Bond ETF (UTWY) 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.
| UTWY | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.08 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | — | — |
| Martin ratioReturn relative to average drawdown | 1.34 | — | — |
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Drawdowns
UTWY vs. GGOV - Drawdown Comparison
The maximum UTWY drawdown since its inception was -18.19%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for UTWY and GGOV.
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Drawdown Indicators
| UTWY | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.19% | -4.69% | -13.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.70% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | — | — |
Current DrawdownCurrent decline from peak | -5.30% | -1.06% | -4.24% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -1.57% | -5.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | — | — |
Volatility
UTWY vs. GGOV - Volatility Comparison
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Volatility by Period
| UTWY | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.77% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.89% | 5.28% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.05% | 5.28% | +5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.05% | 5.28% | +5.77% |
UTWY vs. GGOV - Expense Ratio Comparison
UTWY has a 0.15% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
UTWY vs. GGOV - Dividend Comparison
UTWY's dividend yield for the trailing twelve months is around 4.65%, 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% |
UTWY F/m US Treasury 20 Year Bond ETF | 4.65% | 4.62% | 4.56% | 2.94% |
Frequently Asked Questions
UTWY 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, UTWY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UTWY is cheaper with a 0.15% expense ratio, compared with 0.39% for GGOV.
UTWY has the higher dividend yield at 4.65%, compared with 0.00% for GGOV.
UTWY is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: F/m Investments and iShares. Their fees differ too: 0.15% for UTWY and 0.39% for GGOV.
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