XHLF vs. GGOV

Last updated Jun 4, 2026

XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - XHLF is a Government Bonds fund tracking the Bloomberg US Treasury 6 Month Duration Index, while GGOV is a Global Bonds fund managed by iShares. At a 0.04 correlation, their price movements are largely independent. XHLF charges 0.03%/yr vs 0.39%/yr for GGOV.

Performance

XHLF vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) 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, XHLF achieves a 1.39% return, which is significantly lower than GGOV's 2.30% return.

XHLF

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.39%
• 6M: 1.71%
• 1Y: 3.92%
• 3Y*: 4.62%
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.16%
• 1M: 0.60%
• YTD: 2.30%
• 6M: -1.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XHLF vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	1.39%	2.19%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.30%	-2.81%

Correlation

The correlation between XHLF and GGOV is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.04

Return for Risk

XHLF vs. GGOV — Risk / Return Rank

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

XHLF

XHLF Risk / Return Rank: 100
XHLF Sharpe Ratio Rank: 100
XHLF Sortino Ratio Rank: 100
XHLF Omega Ratio Rank: 100
XHLF Calmar Ratio Rank: 100
XHLF Martin Ratio Rank: 100

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.

XHLF vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) 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.

	XHLF	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	12.43	—	—
Sortino ratio: Return per unit of downside risk	45.85	—	—
Omega ratio: Gain probability vs. loss probability	11.75	—	—
Calmar ratio: Return relative to maximum drawdown	98.81	—	—
Martin ratio: Return relative to average drawdown	670.31	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XHLF	GGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	12.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	10.75	-0.11	+10.86

Drawdowns

XHLF vs. GGOV - Drawdown Comparison

The maximum XHLF drawdown since its inception was -0.11%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for XHLF and GGOV.

Drawdown Indicators

	XHLF	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.11%	-4.69%	+4.58%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	—	—
Current Drawdown Current decline from peak	0.00%	-1.50%	+1.50%
Average Drawdown Average peak-to-trough decline	-0.00%	-1.59%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	XHLF	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	5.38%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.42%	5.38%	-4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.42%	5.38%	-4.96%

XHLF vs. GGOV - Expense Ratio Comparison

XHLF has a 0.03% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

XHLF vs. GGOV - Dividend Comparison

XHLF's dividend yield for the trailing twelve months is around 3.85%, 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%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	3.85%	3.98%	4.96%	4.50%	0.86%

Frequently Asked Questions

Can I hold both XHLF and GGOV in my portfolio?

XHLF and GGOV have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XHLF or GGOV?

On fees, XHLF is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XHLF or GGOV?

XHLF is cheaper with a 0.03% expense ratio, compared with 0.39% for GGOV.

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

XHLF has the higher dividend yield at 3.85%, compared with 0.00% for GGOV.

What is the main difference between XHLF and GGOV?

XHLF is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.03% for XHLF and 0.39% for GGOV.