VGLT vs. GGOV
VGLT (Vanguard Long-Term Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while GGOV is a Global Bonds fund actively managed by iShares. VGLT is passively managed, while GGOV is actively managed. Over the past year, VGLT returned -0.89% vs -0.31% for GGOV. Their 0.62 correlation means they have sometimes moved together and sometimes differently. VGLT charges 0.03%/yr vs 0.39%/yr for GGOV.
Performance
VGLT vs. GGOV - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a -1.98% return, which is significantly lower than GGOV's 2.79% return.
VGLT
- 1D
- 0.17%
- 1M
- -2.13%
- 6M
- -1.56%
- YTD
- -1.98%
- 1Y
- -0.89%
- 3Y*
- 0.27%
- 5Y*
- -6.65%
- 10Y*
- -1.63%
- ALL TIME*
- 2.34%
GGOV
- 1D
- -0.28%
- 1M
- 0.07%
- 6M
- 3.40%
- YTD
- 2.79%
- 1Y
- -0.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.93M | $62.66M | $80.75M | |
| $107.06M | $103.64M | $108.85M |
VGLT vs. GGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | -1.98% | 2.85% |
GGOV iShares Global Government Bond USD Hedged Active ETF | 2.79% | -2.80% |
Correlation
The correlation between VGLT and GGOV is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.62 |
The correlation between VGLT and GGOV has been stable across timeframes, ranging from 0.61 to 0.62 - a consistent structural relationship.
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Return for Risk
VGLT vs. GGOV — Risk / Return Rank
VGLT
GGOV
VGLT vs. GGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) 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.
| VGLT | GGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | -0.07 | -0.06 |
| Martin ratioReturn relative to average drawdown | -0.27 | -0.14 | -0.13 |
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Drawdowns
VGLT vs. GGOV - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than GGOV's maximum drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for VGLT and GGOV.
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Drawdown Indicators
| VGLT | GGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -4.69% | -41.49% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -4.69% | -2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | — | — |
Current DrawdownCurrent decline from peak | -37.83% | -1.02% | -36.81% |
Average DrawdownAverage peak-to-trough decline | -15.28% | -1.53% | -13.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.15% | +1.11% |
Volatility
VGLT vs. GGOV - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.32% compared to iShares Global Government Bond USD Hedged Active ETF (GGOV) at 0.92%. This indicates that VGLT's price experiences larger fluctuations and is considered to be riskier than GGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | GGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 0.92% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 6.36% | 3.60% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.41% | 5.24% | +3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 5.09% | +9.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.74% | 5.09% | +8.65% |
VGLT vs. GGOV - Expense Ratio Comparison
VGLT has a 0.03% expense ratio, which is lower than GGOV's 0.39% expense ratio.
Dividends
VGLT vs. GGOV - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.74%, while GGOV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGOV iShares Global Government Bond USD Hedged Active ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.74% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
VGLT and GGOV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.32%) compared to GGOV (0.92%). In terms of maximum drawdown, VGLT dropped -46.18% vs GGOV's -4.69%.
On 1-year performance, GGOV leads with -0.31% vs -0.89% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, GGOV has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GGOV has performed better with a -0.31% return vs -0.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.39% for GGOV.
VGLT has the higher dividend yield at 4.74%, compared with 0.00% for GGOV.
VGLT is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VGLT and 0.39% for GGOV.
GGOV currently has the higher Sharpe Ratio (-0.06 vs -0.11), 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.
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