ZCBA vs. GGOV

Last updated Jun 6, 2026

ZCBA (Global X Zero Coupon Bond 2030 ETF) and GGOV (iShares Global Government Bond USD Hedged Active ETF) are both exchange-traded funds - ZCBA is a Government Bonds fund tracking the FTSE Zero Coupon U.S. Treasury STRIPS 2030 Maturity Index, while GGOV is a Global Bonds fund managed by iShares. A 0.61 correlation means they provide meaningful diversification when combined. ZCBA charges 0.07%/yr vs 0.39%/yr for GGOV.

Performance

ZCBA vs. GGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Zero Coupon Bond 2030 ETF (ZCBA) and iShares Global Government Bond USD Hedged Active ETF (GGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZCBA

• 1D: -0.40%
• 1M: -1.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGOV

• 1D: -0.28%
• 1M: -0.75%
• YTD: 1.87%
• 6M: -1.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZCBA vs. GGOV - Yearly Performance Comparison

	2026 (YTD)
ZCBA Global X Zero Coupon Bond 2030 ETF	-0.76%
GGOV iShares Global Government Bond USD Hedged Active ETF	1.95%

Correlation

The correlation between ZCBA and GGOV is 0.61, 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 Jan 8, 2026	0.61

Return for Risk

ZCBA vs. GGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Zero Coupon Bond 2030 ETF (ZCBA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZCBA	GGOV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	-0.20	-0.38

Drawdowns

ZCBA vs. GGOV - Drawdown Comparison

The maximum ZCBA drawdown since its inception was -2.39%, smaller than the maximum GGOV drawdown of -4.69%. Use the drawdown chart below to compare losses from any high point for ZCBA and GGOV.

Drawdown Indicators

	ZCBA	GGOV	Difference
Max Drawdown Largest peak-to-trough decline	-2.39%	-4.69%	+2.30%
Current Drawdown Current decline from peak	-2.24%	-1.91%	-0.33%
Average Drawdown Average peak-to-trough decline	-1.00%	-1.59%	+0.59%

Volatility

Volatility by Period

	ZCBA	GGOV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	5.37%	-2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.23%	5.37%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.23%	5.37%	-2.14%

ZCBA vs. GGOV - Expense Ratio Comparison

ZCBA has a 0.07% expense ratio, which is lower than GGOV's 0.39% expense ratio.

Dividends

ZCBA vs. GGOV - Dividend Comparison

ZCBA's dividend yield for the trailing twelve months is around 1.51%, while GGOV has not paid dividends to shareholders.

Position	TTM
GGOV iShares Global Government Bond USD Hedged Active ETF	0.00%
ZCBA Global X Zero Coupon Bond 2030 ETF	1.51%

Frequently Asked Questions

Can I hold both ZCBA and GGOV in my portfolio?

ZCBA 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.

Which ETF is better, ZCBA or GGOV?

On fees, ZCBA is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZCBA or GGOV?

ZCBA is cheaper with a 0.07% expense ratio, compared with 0.39% for GGOV.

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

ZCBA has the higher dividend yield at 1.51%, compared with 0.00% for GGOV.

What is the main difference between ZCBA and GGOV?

ZCBA is categorized as Government Bonds, while GGOV is Global Bonds. They also come from different issuers: Global X and iShares. Their fees differ too: 0.07% for ZCBA and 0.39% for GGOV.