GOVT — iShares U.S. Treasury Bond ETF

GOVT Price Performance — Growth of $10,000

Value of a $10,000 investment in GOVT over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

GOVT Drawdown

The "underwater" chart: GOVT's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares U.S. Treasury Bond ETF (GOVT) is a government bond ETF, issued by iShares, and is one of 22 ETFs tracked in the US Bonds - Government category. It holds an overall rank of #315 among 458 tracked ETFs, indicating it is not among the top performers. The fund has an expense ratio of 0.05%, which is relatively low, and a dividend yield of 3.63%, offering a solid income stream for investors. With an asset under management (AUM) of $43.6B, the ETF suggests significant investor adoption, as it is one of the larger funds in its category. The price of $22.45 reflects the fund's market value, and its AUM indicates substantial investor interest and confidence in the fund's performance and stability.

The iShares U.S. Treasury Bond ETF (GOVT) has shown a mixed performance pattern over the past year. In the short term, the fund experienced a decline of -0.13% in one day and -0.04% in one week, indicating some volatility. However, over the longer term, the fund has shown more stability, with a positive return of +0.33% in one month and +0.14% in three months. The six-month return of -1.51% and the year-to-date return of -0.40% suggest a slight downturn, but the one-year return of +1.55% and the three-year return of +10.57% indicate a recovery and sustained positive performance. This pattern suggests a short-term volatility with a longer-term upward trend.

The iShares U.S. Treasury Bond ETF (GOVT) is labeled as having a Very Low volatility, which implies that it is less susceptible to market fluctuations compared to more volatile assets. Its beta of 0.87 suggests that the fund's price tends to move in a similar direction to the overall market, but at a slower pace. The Sharpe ratio of -0.97, while negative, indicates that the fund's returns have not compensated for the risk taken, as the returns are below the risk-free rate. The maximum drawdown of -4.92% reflects the largest peak-to-trough decline in the fund's value, indicating that while the fund has experienced losses, they have not been severe. Overall, these figures suggest that the fund is suitable for investors seeking a low-risk, income-generating investment with moderate returns, but it may not be the best choice for those seeking higher returns or those who are risk-averse.

AI-generated summary based on the data on this page.

GOVT Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 21.7% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how GOVT's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With GOVT

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with GOVT's top 10 — SGOV overlaps most, holding 1 of the same companies as GOVT's top 10 (21.7% of GOVT's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.69% (as of 2026-08-20) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.01 (as of 2026-08-20) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

See it in a portfolio

GOVT isn't one of the twelve funds in the portfolio game, but BIL — Cash — sits in the same category and is. It is an equivalent, not a substitute: different holdings, different fee, different returns.

Free, no sign-up, virtual money only.

GOVT Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.24% and average daily volume is 8.5M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $43.6B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GOVT is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

GOVT Performance History

How GOVT Compares to Other US Bonds - Government ETFs