iShares U.S. Treasury Bond ETF (GOVT) Performance
GOVT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.9% since Dec 31, 2025
- 1 year
- −1.1% total return
- 5 years
- −0.6% a year
- 10 years
- +0.7% a year
- Since first price
- +1.1% a year since 2012
GOVT trailing returns vs AGG, TLT, SPY
| Period | GOVT total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +0.8% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.1% | −1.1% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.2% | −3.0% | −1.5% | −3.8% | +7.8% |
| YTD | −0.9% | −3.6% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.1% | −4.7% | −1.1% | −6.9% | +14.4% |
| 3 years | +13.0%+4.2%/yr | +2.0% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −2.9%−0.6%/yr | −15.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +6.9%+0.7%/yr | −14.2% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionFeb 24, 2012 | +17.3%+1.1%/yr | −10.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GOVT vs AGG
From Feb 24, 2012: GOVT grew to $11,734, AGG to $12,940.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GOVT returns by calendar year
10 of 13 full years positive. Best 2019 (+7.4%), worst 2022 (−13.4%). 2026 is year to date.
GOVT annual returns table
| Year | GOVT | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.9% | −4.4% | −1.0% | −3.4% | +12.3% |
| 2025 | +3.8% | −2.6% | +7.2% | +4.3% | +17.7% |
| 2024 | +3.0% | −4.3% | +1.3% | −8.1% | +24.9% |
| 2023 | +4.2% | −7.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.4% | −14.5% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.1% | −4.5% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.3% | −4.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +7.4% | −2.6% | +8.5% | +14.1% | +31.2% |
| 2018 | +0.3% | −2.5% | +0.1% | −1.6% | −4.6% |
| 2017 | +2.2% | −1.9% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.8% | −5.9% | +2.4% | +1.2% | +12.0% |
| 2015 | +0.9% | −3.5% | +0.5% | −1.8% | +1.2% |
| 2014 | +4.7% | −1.3% | +6.0% | +27.3% | +13.5% |
| 2013 | −2.5% | −4.6% | −2.0% | −13.4% | +32.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GOVT largest drawdowns
Now 8.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 4, 2020 | −19.8% | Oct 19, 2023 | not yet | 3.2 years | 6.2 years so far |
| Jul 8, 2016 | −5.9% | Dec 15, 2016 | May 13, 2019 | 5 months | 2.8 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
GOVT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +3.2% | −1.1% | +0.4% | +1.0% |
| Volatility (annualized) | 5.0% | 5.8% | 5.0% | 4.5% |
| Sharpe ratio | -0.22 | -0.80 | -0.35 | -0.10 |
| Sortino ratio | -0.30 | -0.95 | -0.46 | -0.14 |
| Best month | +3.5% | +3.5% | +3.5% | +3.5% |
| Worst month | −2.4% | −3.4% | −3.4% | −3.4% |
| Best 12 months | +9.7% | +9.7% | +14.0% | +14.0% |
| Worst 12 months | −1.9% | −14.2% | −14.2% | −14.2% |
| Positive months | 64% | 52% | 52% | 50% |
| Beta vs S&P 500 | 0.14 | 0.19 | 0.06 | — |
| Correlation with S&P 500 | 0.36 | 0.52 | 0.17 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GOVT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 165 | −14.2% | +1.5% | +14.0% | 59% |
| 3-year (a year) | 141 | −6.2% | +1.6% | +5.8% | 74% |
| 5-year (a year) | 117 | −2.1% | +1.0% | +4.0% | 65% |
| 10-year (a year) | 57 | +0.2% | +0.8% | +1.7% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
GOVT performance overview
iShares U.S. Treasury Bond ETF (GOVT) returned −1.1% over the past year and +0.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +1.1% a year, turning $10,000 into about $11,734. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −19.8%, from Aug 4, 2020 to Oct 19, 2023; the fund has not yet regained that high. GOVT finished 10 of its 13 full calendar years with a gain; the best year was 2019 (+7.4%) and the worst 2022 (−13.4%). Volatility has been 4.5% a year.
Related: GOVT chart, GOVT dividends, GOVT bond profile. See the GOVT overview for the latest quote and fund facts.
GOVT performance FAQ
What is the GOVT return over the past year?
GOVT returned −1.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.7%.
What is the average annual return of GOVT?
GOVT has returned −0.6% a year over 5 years, +0.7% a year over 10 years, +1.1% a year since February 24, 2012 (total return, distributions reinvested).
How much would $10,000 invested in GOVT be worth?
$10,000 invested in GOVT at its first recorded close on February 24, 2012 would be worth about $11,734 on October 23, 2026 with distributions reinvested.
What was the worst year for GOVT?
The worst calendar year was 2022, with a total return of −13.4%. The best was 2019 at +7.4%.
What is the biggest drawdown of GOVT?
The largest peak-to-trough decline was −19.8% between August 4, 2020 and October 19, 2023. It has not yet recovered to that high; it is 8.7% below its peak.
How volatile is GOVT?
Over the past 3 years GOVT had an annualized volatility of 5.0% and a Sharpe ratio of -0.22 (excess return over 1–3 month T-bills per unit of risk).