Betashares US Treasury Bond 20+ Year Currency Hedged ETF (GGOV) Review & Analysis

MER · Top 25%AUM · #301 of 5081Y Return · #380 of 4263Y Return · #291 of 3005Y Return · #222 of 225

What's new this monthData to 30 September 2026

−4.9% in September (total return), behind the median international bonds ETF at −1.8%.
Investors withdrew a net $45m (-35.7% of the fund).
The unit price closed the month at $11.97, near its 12-month low (range $11.92 to $13.85).

About GGOV

GGOV is an international bonds ETF from Betashares, listed on the ASX since May 2020. With $80m under management it is number 20 of 48 international bonds ETFs by size. The management fee is 0.22% a year, about $22 on every $10,000 invested, cheaper than the typical international bonds ETF at 0.50%.

Its largest holdings are UNITED STATES TREASURY NOTE/BOND 5.0% MAY-56, UNITED STATES TREASURY NOTE/BOND 4.75% MAY-55 and UNITED STATES TREASURY NOTE/BOND 4.75% AUG-55, and the top 10 make up 39% of the fund. By sector it leans towards bonds & cash (100%).

Over five years it has returned −9.3% a year including distributions, against −0.9% for the median international bonds ETF. With its focus on bonds & fixed income, it is the kind of fund many investors use as a smaller satellite holding alongside a diversified core.

GGOV distributions and dividend dates

GGOV pays distributions quarterly, usually going ex-distribution in January, April, July and October, with payment about 15 days after the ex-date. (Pattern estimated from recent payments.)

The latest distribution was $0.1495 per unit (0% franked), ex-distribution on 1 October 2026 and paid on 16 October 2026. To receive it you need to own GGOV before the ex-date.

Its distribution yield over the past 12 months is about 4.1%. Distributions vary and past payments are not a guide to future ones.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare GGOV Check overlap Betashares website ↗

Compare GGOV with

GGOVvsUSTB

Global X US Treasury Bond ETF (Currency Hedged)

Fee	0.22%	0.19%
1 year	−8.0%	−1.5%
5 yrs p.a.	−9.3%	–
Size	$80m	$453m

Same holdingsNo holdings data

Full comparison →

GGOVvsGGFD

Betashares Geared Long US Treasury Bond Currency Hedged Complex ETF

Fee	0.22%	0.99%
1 year	−8.0%	−18.5%
5 yrs p.a.	−9.3%	–
Size	$80m	$3.3m

Same holdingsNo holdings data

Full comparison →

GGOVvsTBIL

VanEck 1-3 Month US Treasury Bond ETF

Fee	0.22%	0.22%
1 year	−8.0%	−2.0%
5 yrs p.a.	−9.3%	–
Size	$80m	$110m

Same holdingsNo holdings data

Full comparison →

GGOVvsUTIP

Beta Inflation Protected US Treasury Bond Ch ETF

Fee	0.22%	0.22%
1 year	−8.0%	−1.9%
5 yrs p.a.	−9.3%	–
Size	$80m	$103m

Same holdingsNo holdings data

Full comparison →

GGOV price by TradingView

Stock Code	GGOV
Fund Manager	Betashares
Asset Class	International bonds
AUM	$80m
MER (%)	0.22%
Net flows (Sep)	−$45m
Last Price	$11.97
52-Week Range	$11.92 – $13.85
Bid/Ask Spread	0.16%
Listing Date	11/05/2020
Exchange	ASX
Index	Not yet in our data. See the PDS
Issuer website	Betashares ↗

Performance (% return)

1 month−4.9%

1 year−8.0%

3 years p.a.−0.7%

5 years p.a.−9.3%

$10,000 invested…

1 year ago$9,2043 years ago$9,7785 years ago$6,155

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

GGOV at a glance: strengths and things to watch

👍 Strengths

Low cost. At 0.22% a year it is cheaper than 83% of international bonds ETFs.

⚠️ Things to watch

Behind its peers. −9.3% a year over 5 years, against −0.9% for the median international bonds ETF.
Money is flowing out. Investors withdrew a net $45m in September (56% of the fund).

Worked out from GGOV's fees, size, flows, returns and trend against the 48 international bonds ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Base since 22 Oct 2026

GGOV is in a base. Here's why that matters.

GGOV's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

Why no chart? Bond, cash and currency fund prices drop each time a distribution is paid, so a price chart makes them look worse than they are. Check the total returns above instead.

Investment Focus

Themes & Sectors

Currency hedged Bonds & fixed income

Portfolio Breakdown

Top 10 holdings (38.7% of the fund)

Symbol	Company	% assets
$undefined		4.10%
$undefined		4.00%
$undefined		3.90%
$undefined		3.90%
$undefined		3.90%
$undefined		3.90%
$undefined		3.80%
$undefined		3.80%
$undefined		3.80%
$undefined		3.60%

Sector breakdown

Bonds & cash100.0%

Holdings from the issuer's published portfolio. Compare GGOV's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
USTB	Global X US Treasury Bond ETF (Currency Hedged) Currency hedged	–	0.19%	$453m	−1.5%	+2.6%	–
GGFD	Betashares Geared Long US Treasury Bond Currency Hedged Complex ETF Geared	–	0.99%	$3.3m	−18.5%	–	–
TBIL	VanEck 1-3 Month US Treasury Bond ETF	–	0.22%	$110m	−2.0%	+1.6%	–
UTIP	Beta Inflation Protected US Treasury Bond Ch ETF	–	0.22%	$103m	−1.9%	+2.8%	–
IUSG	iShares U.S. Treasury Bond (Aud Hedged) ETF Currency hedged	–	0.15%	$33m	−1.7%	+2.4%	–
US10	Betashares US Treasury Bond 7-10Yr Ch ETF	–	0.22%	$19m	−3.3%	+2.1%	–

Same holdings is the share of GGOV's money in companies the other ETF also holds, weighted by size. No other ETF shares much with GGOV, so these are ETFs in the same category. See every ETF like GGOV →

GGOV vs its closest alternatives

What actually differs between GGOV and the ETFs most like it. Data to 30 Sep 2026.

USTB Global X US Treasury Bond ETF (Currency Hedged)

USTB is cheaper (0.19% vs 0.22%), worth about $2,092 on $100,000 over 20 years.
Over 3 years, a year: GGOV −0.7%, USTB +2.6% (USTB ahead by 3.4 percentage points).
USTB is about 6 times larger ($453m vs $80m), which usually means tighter trading spreads.

Compare GGOV and USTB side by side →

TBIL VanEck 1-3 Month US Treasury Bond ETF

Both charge the same fee (0.22%).
Over 3 years, a year: GGOV −0.7%, TBIL +1.6% (TBIL ahead by 2.4 percentage points).
Different structure: GGOV is currency hedged, TBIL is a standard fund.

Compare GGOV and TBIL side by side →

UTIP Beta Inflation Protected US Treasury Bond Ch ETF

Both charge the same fee (0.22%).
Over 3 years, a year: GGOV −0.7%, UTIP +2.8% (UTIP ahead by 3.5 percentage points).
Different structure: GGOV is currency hedged, UTIP is a standard fund.

Compare GGOV and UTIP side by side →

General information only. Past performance is not a reliable indicator of future performance.

GGOV FAQs

What is the fee for GGOV?

GGOV charges a management fee (MER) of 0.22% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is GGOV?

GGOV had $80m in funds under management as at 30 September 2026.

How has GGOV performed?

GGOV returned −8.0% over the year to 30 September 2026 (total return, including distributions). Over three years it returned −0.7% a year. Past performance is not a reliable indicator of future performance.

Who manages GGOV?

GGOV is managed by Betashares and has been listed since May 2020.

Is GGOV franked?

Generally no. GGOV invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

Is GGOV currency hedged?

Yes. GGOV is currency hedged, so changes in the Australian dollar have little effect on its returns. You get the return of the underlying investments in their local currency, less a small cost of hedging.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Betashares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.