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GGOV vs IGOV

iShares Global Government Bond USD Hedged Active ETF

GGOVDNYSE Arca

iShares International Treasury Bond ETF

IGOVBNasdaq

Overlap

No data

Expense ratio

IGOV −0.04pt a year

GGOV0.39%IGOV0.35%

Avg volume · 30D

GGOV 3.4×the volume

GGOV903KIGOV267K

GGOV vs IGOV Performance

Oct 31, 2025 – Oct 30, 2026

+4.7%GGOV−3.3%IGOV

Oct 31, 2025 to Oct 30, 2026. GGOV +4.7%. IGOV −3.3%. Use the arrow keys to read each point.−2%0%2%Oct 2025Apr 2026Oct 2026
Expense ratio
GGOV 0.39%
IGOV 0.35%, better
Fund size
GGOV $4.32B
IGOV $1.03B
1Y total return
GGOV +4.7%, better
IGOV −3.3%
Yield (12M)
GGOV No data
IGOV 1.46%
Holdings
GGOV 914
IGOV 950
Avg volume (30D)
GGOV 903K sh, better
IGOV 267K sh
NAV per share
GGOV $50.79
IGOV $40.24
52W range

ETF.net Grade

GGOV: Cost 23, Risk 80, Mission 0, Tradability 72, Holdings 52, Durability 62. IGOV: Cost 49, Risk 34, Mission 99, Tradability 65, Holdings 81, Durability 61.
Pillar letters and Scores for GGOV, IGOV, with each pillar’s weight
PillarGGOVIGOV
Cost30% weightF23C49Higher
Mission25% weightF0A99Higher
Risk15% weightA80HigherD34
Tradability15% weightA72HigherB65
Holdings10% weightC52A81Higher
Durability5% weightB62HigherB61

Rank among International Sovereign funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. GGOV and IGOV are both graded against the same 6 International Sovereign funds, so their Grades compare head to head.

International Sovereign⁠

Category · 6 funds
See all 6 ›

IGOV ranks 2nd and GGOV 5th of 6 funds in the International Sovereign Category.

  1. Rank 1BEBNDSPDR Bloomberg Emerging Markets Local Bond ETFScore 69
  2. Rank 2BIGOViShares International Treasury Bond ETFScore 65
  3. Rank 3BBWXSPDR Bloomberg International Treasury Bond ETFScore 62
  4. Rank 4BISHGiShares 1-3 Year International Treasury Bond ETFScore 59
  5. Rank 5DGGOViShares Global Government Bond USD Hedged Active ETFScore 38
  6. Rank 5DWIPSPDR FTSE International Government Inflation-Protected Bond ETFScore 38

Our read on each fund

ETF.net Research

GGOVDiShares Global Government Bond USD Hedged Active ETF

IGOVBiShares International Treasury Bond ETF

In short

GGOV Government bonds from around the world, with the currency swings hedged back to dollars and an active manager at the wheel. A 2025 iShares launch that showed up at multi-billion-dollar scale on day one.

IGOV The world's other government bond market in one ticker. IGOV holds developed-market sovereign debt from outside the US, roughly a thousand bonds deep, and has been doing it since 2009.

Stated mandate

GGOV The fund provides exposure to a diversified portfolio of government bonds from around the world with USD hedging and active management.

IGOV The fund seeks to track an index containing government bonds from developed markets outside the United States.

Why people hold it

  • GGOV Currency exposure is hedged into US dollars, so the ride leans on global sovereign yields rather than on the euro or yen moving against the greenback.ishares.com
  • About 700 government bonds spread across countries, run actively against the Bloomberg Global Treasury USD Hedged Index instead of copied bond for bond.
  • Unusual for a fund this new: multi-billion-dollar size and steady daily trading, which tends to keep the gap between buy and sell prices tight.
  • IGOV A pure ex-US sovereign sleeve: developed-market government bonds only, no US Treasuries mixed in.
  • Roughly a thousand bonds tracking the FTSE World Government Bond Developed Markets Capped Select index, so no single issuer runs the show.
  • Live since 2009 and a multi-billion-dollar fund, which is real staying power in a niche this small.
  • One of the stronger builds in a six-fund cohort, and it does exactly what the label says rather than drifting off-mandate.

Worth knowing

  • GGOV 0.39% a year sits above the index-tracking neighbors: IGOV and BWX at 0.35%, EBND at 0.30%.
  • It opened in June 2025, so the track record is thin, and an active mandate means the portfolio can sit well away from its stated benchmark.
  • Hedging cuts both ways. It mutes the hit when the dollar rallies and the lift when it slides, and the hedge itself carries an ongoing cost.ishares.com
  • IGOV The 0.35% fee sits right at the cohort median, matching BWX and ISHG. EBND undercuts it at 0.30%, though on emerging-market local debt instead.
  • Income arrives annually or semiannually, not monthly, so the cash flow is lumpy by design.
  • Moderately traded rather than a high-volume name, so order size and spreads matter more here than in mega-cap bond funds.

Full GGOV profile⁠

Full IGOV profile⁠

GGOV vs IGOV Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GGOV vs IGOV Cost

Overpaying GGOV vs IGOV

$772

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GGOV 0.39%

    $7,898

  • IGOV 0.35%

    $7,126

$10,000
30 years

Cost over time

  • GGOV 0.39%
  • IGOV 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530GGOV $7,898IGOV $7,126

Year by year

YearGGOVIGOVOverpaying
10$705$634$71
20$2,725$2,454$271
30$7,898$7,126$772

Expense ratio

  • 0.39%GGOV
  • 0.35%IGOV, cheaper
  • Middle half of International Sovereign funds
  • Median 0.35%

IGOV 2nd cheapest of 6 funds

GGOV 5th cheapest of 6 funds

GGOV vs IGOV Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
GGOV No data
IGOV 1.46%
Payout (12M)
GGOV No data
IGOV $0.59
Last payment
GGOV $0.41
IGOV $0.59
Ex-dividend
GGOV Oct 1, 2026
IGOV Dec 19, 2025
Paid on
GGOV Oct 6, 2026
IGOV Dec 24, 2025
Frequency
GGOV Irregular
IGOV Annual

Distribution history

Per share, 2017 to 2026, same scale for both

GGOVIrregular · 2 paymentsAll GGOV payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Dec 19, 2025 $1.62; Oct 1, 2026 $0.41. Use the arrow keys to read each point.$0$12017202020232026YTD
IGOVAnnual · 13 paymentsAll IGOV payments⁠
One bar per payment. 13 payments from 2017 to 2026 YTD. Feb 1, 2017 $0.01; Mar 1, 2017 $0.01; Apr 3, 2017 $0.01; Jun 1, 2017 $0.01; Jul 3, 2017 $0.0095; Aug 1, 2017 $0.0095; Dec 21, 2017 $0.02; Dec 18, 2018 $0.15; Dec 19, 2019 $0.12; Dec 16, 2021 $0.20; Dec 15, 2022 $0.04; Dec 18, 2024 $0.23; Dec 19, 2025 $0.59. Use the arrow keys to read each point.$0$12017202020232026YTD

GGOV vs IGOV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GGOV 2.5%since Jul 2025IGOV 9.7%
Return per unit of riskSharpe ratio, 3 years
GGOV 0.07since Jul 2025IGOV −0.03
Worst fallMax drawdown, 5 years
GGOV −1.5%since Jun 2025IGOV −30.9%
Market sensitivityBeta, 5 years
GGOV 0.06IGOV 1.42

Popular comparisons

  • GGOVDvsEBNDB

    iShares Global Government Bond USD Hedged Active ETF · SPDR Bloomberg Emerging Markets Local Bond ETF

    Expense ratio
    0.39% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IGOVBvsEBNDB

    iShares International Treasury Bond ETF · SPDR Bloomberg Emerging Markets Local Bond ETF

    Expense ratio
    0.35% · 0.30%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • GGOVDvsBWXB

    iShares Global Government Bond USD Hedged Active ETF · SPDR Bloomberg International Treasury Bond ETF

    Expense ratio
    0.39% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IGOVBvsBWXB

    iShares International Treasury Bond ETF · SPDR Bloomberg International Treasury Bond ETF

    Expense ratio
    0.35% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • GGOVDvsISHGB

    iShares Global Government Bond USD Hedged Active ETF · iShares 1-3 Year International Treasury Bond ETF

    Expense ratio
    0.39% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IGOVBvsISHGB

    iShares International Treasury Bond ETF · iShares 1-3 Year International Treasury Bond ETF

    Expense ratio
    0.35% · 0.35%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.