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GGOV vs ISHG

iShares Global Government Bond USD Hedged Active ETF

GGOVDNYSE Arca

iShares 1-3 Year International Treasury Bond ETF

ISHGBNasdaq

Overlap

No data

Expense ratio

ISHG −0.04pt a year

GGOV0.39%ISHG0.35%

Avg volume · 30D

GGOV 12.9×the volume

GGOV903KISHG70.2K

GGOV vs ISHG Performance

Oct 31, 2025 – Oct 30, 2026

+4.7%GGOV−0.1%ISHG

Oct 31, 2025 to Oct 30, 2026. GGOV +4.7%. ISHG −0.1%. Use the arrow keys to read each point.−1%1%2%3%4%Oct 2025Apr 2026Oct 2026
Expense ratio
GGOV 0.39%
ISHG 0.35%, better
Fund size
GGOV $4.32B
ISHG $832M
1Y total return
GGOV +4.7%, better
ISHG −0.1%
Yield (12M)
GGOV No data
ISHG 1.48%
Holdings
GGOV 914
ISHG 190
Avg volume (30D)
GGOV 903K sh, better
ISHG 70.2K sh
NAV per share
GGOV $50.79
ISHG $73.95
52W range

ETF.net Grade

GGOV: Cost 23, Risk 80, Mission 0, Tradability 72, Holdings 52, Durability 62. ISHG: Cost 49, Risk 53, Mission 84, Tradability 50, Holdings 52, Durability 52.
Pillar letters and Scores for GGOV, ISHG, with each pillar’s weight
PillarGGOVISHG
Cost30% weightF23C49Higher
Mission25% weightF0A84Higher
Risk15% weightA80HigherC53
Tradability15% weightA72HigherC50
Holdings10% weightC52C52
Durability5% weightB62HigherC52

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 ISHG 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 ›

ISHG ranks 4th 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

ISHGBiShares 1-3 Year 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.

ISHG Foreign government bonds with the rate risk dialed down. ISHG holds developed-market sovereigns maturing in one to three years, in local currency, so the dollar's direction does more of the talking than the yield curve does.

Stated mandate

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

ISHG The fund seeks to track an index of non-U.S. developed-market government bonds with remaining maturities between one and three years.

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.
  • ISHG The whole point is the short end: only non-US developed government bonds with one to three years left to run, which keeps interest-rate sensitivity modest.ishares.com
  • Index rules do real work: investment-grade sovereigns only, US excluded, and each country capped at 21% of the index, so no single government runs away with it.ftserussell.com
  • Running since 2009 under the iShares roof, spreading a couple hundred sovereign bonds across Japan, Europe and other developed issuers.
  • Tracking has been tight: the fund has hugged its FTSE benchmark closely rather than drifting from it.

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
  • ISHG The bonds are local-currency and unhedged, so exchange-rate moves flow straight through. At these maturities, the yen and euro can matter more than the coupons.ftserussell.comishares.com
  • 0.35% a year sits right at the median for international treasury funds, matching IGOV and BWX, so cost is not the tiebreaker here.
  • It is a mid-size, moderately traded fund, not a headline name, and it pays out only once or twice a year rather than monthly.

Full GGOV profile⁠

Full ISHG profile⁠

GGOV vs ISHG 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 ISHG Cost

Overpaying GGOV vs ISHG

$772

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

  • GGOV 0.39%

    $7,898

  • ISHG 0.35%

    $7,126

$10,000
30 years

Cost over time

  • GGOV 0.39%
  • ISHG 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 $7,898ISHG $7,126

Year by year

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

Expense ratio

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

ISHG 2nd cheapest of 6 funds

GGOV 5th cheapest of 6 funds

GGOV vs ISHG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
GGOV No data
ISHG 1.48%
Payout (12M)
GGOV No data
ISHG $1.09
Last payment
GGOV $0.41
ISHG $1.09
Ex-dividend
GGOV Oct 1, 2026
ISHG Dec 19, 2025
Paid on
GGOV Oct 6, 2026
ISHG Dec 24, 2025
Frequency
GGOV Irregular
ISHG 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$22017202020232026YTD
ISHGAnnual · 6 paymentsAll ISHG payments⁠
One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 21, 2017 $0.39; Dec 18, 2018 $1.43; Dec 16, 2021 $1.01; Dec 14, 2023 $0.13; Dec 18, 2024 $1.72; Dec 19, 2025 $1.09. Use the arrow keys to read each point.$0$22017202020232026YTD

GGOV vs ISHG 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 2025ISHG 7.7%
Return per unit of riskSharpe ratio, 3 years
GGOV 0.07since Jul 2025ISHG 0.05
Worst fallMax drawdown, 5 years
GGOV −1.5%since Jun 2025ISHG −20.7%
Market sensitivityBeta, 5 years
GGOV 0.06ISHG 0.87

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
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  • ISHGBvsEBNDB

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    Expense ratio
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  • GGOVDvsIGOVB

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  • GGOVDvsBWXB

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    Expense ratio
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  • ISHGBvsBWXB

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

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    Category
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