XTWO vs. GGOV

Last updated Jun 25, 2026

XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - XTWO is a Government Bonds fund tracking the Bloomberg US Treasury 2 Year Target Duration Index, while GGOV is a Global Bonds fund managed by iShares. A 0.54 correlation means they provide meaningful diversification when combined. XTWO charges 0.05%/yr vs 0.39%/yr for GGOV.

Performance

XTWO vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) 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, XTWO achieves a 0.52% return, which is significantly lower than GGOV's 2.84% return.

XTWO

• 1D: 0.11%
• 1M: 0.26%
• YTD: 0.52%
• 6M: 0.66%
• 1Y: 2.98%
• 3Y*: 4.23%
• 5Y*: —
• 10Y*: —

GGOV

• 1D: 0.09%
• 1M: 0.69%
• YTD: 2.84%
• 6M: 2.61%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XTWO vs. GGOV - Yearly Performance Comparison

	2026 (YTD)	2025
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF	0.52%	2.40%
GGOV iShares Global Government Bond USD Hedged Active ETF	2.84%	-2.80%

Correlation

The correlation between XTWO and GGOV is 0.54, 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	0.54

Return for Risk

XTWO vs. GGOV — Risk / Return Rank

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

XTWO

XTWO Risk / Return Rank: 78
XTWO Sharpe Ratio Rank: 77
XTWO Sortino Ratio Rank: 86
XTWO Omega Ratio Rank: 82
XTWO Calmar Ratio Rank: 73
XTWO Martin Ratio Rank: 69

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.

XTWO vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) 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.

	XTWO	GGOV	Difference
Sharpe ratio: Return per unit of total volatility	2.15	—	—
Sortino ratio: Return per unit of downside risk	3.40	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	3.29	—	—
Martin ratio: Return relative to average drawdown	11.22	—	—

Drawdowns

XTWO vs. GGOV - Drawdown Comparison

The maximum XTWO drawdown since its inception was -1.73%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for XTWO and GGOV.

Drawdown Indicators

	XTWO	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-1.73%	-4.69%	+2.96%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.18%	—	—
Current Drawdown Current decline from peak	-0.27%	-0.98%	+0.71%
Average Drawdown Average peak-to-trough decline	-0.40%	-1.56%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.27%	—	—

Volatility

Volatility by Period

	XTWO	GGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.39%	5.27%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.16%	5.27%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.16%	5.27%	-3.11%

XTWO vs. GGOV - Expense Ratio Comparison

XTWO has a 0.05% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

XTWO vs. GGOV - Dividend Comparison

XTWO'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%
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF	4.04%	4.24%	4.54%	4.07%	1.13%

Frequently Asked Questions

Can I hold both XTWO and GGOV in my portfolio?

XTWO and GGOV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XTWO or GGOV?

On fees, XTWO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XTWO or GGOV?

XTWO is cheaper with a 0.05% expense ratio, compared with 0.39% for GGOV.

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

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

What is the main difference between XTWO and GGOV?

XTWO is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.05% for XTWO and 0.39% for GGOV.