iShares U.S. Treasury Bond ETF (GOVT): Complete Beginner's Guide
iShares U.S. Treasury Bond ETF (GOVT) is a us treasury ETF from BlackRock with an expense ratio of 0.05% and $25.0B in assets under management. Our Beginner Suitability Score: 9.5/10 (Great for Beginners). 5-year annualized return: 0.50%.
Last updated: April 2026
BlackRock • US Treasury
Expense Ratio
0.05%
AUM
$25.0B
Dividend Yield
3.20%
Inception
2012
Beginner Score
9.5/10
What is iShares U.S. Treasury Bond ETF?
GOVT tracks the ICE U.S. Treasury Core Bond Index, providing exposure to U.S. Treasury bonds across all maturities from short-term to long-term. It is a simple way to hold the safest bonds in the world, backed by the full faith and credit of the U.S. government. The fund offers broad Treasury exposure in a single holding, making it easy to add government bond allocation to any portfolio.
GOVT is managed by BlackRock and has been available since 2012. With $25.0B in assets under management, it's a well-established fund with strong institutional backing. The fund charges an expense ratio of 0.05%, which means for every $10,000 you invest, you pay approximately $5 per year in management fees.
GOVT at a Glance — Key Metrics
| Expense Ratio | 0.05% |
| Total Holdings | 190 |
| P/E Ratio | N/A |
| Beta | 0.05 |
| Dividend Yield | 3.20% |
| AUM | $25.0B |
| Inception Year | 2012 |
| Issuer | BlackRock |
Top 10 Holdings in GOVT
GOVT holds 190 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | US Treasury 4.25% 02/15/2054 | T 4.25 2054 | 3.50% |
| 2 | US Treasury 4.625% 05/15/2054 | T 4.625 2054 | 3.20% |
| 3 | US Treasury 4.0% 11/15/2052 | T 4.0 2052 | 2.80% |
| 4 | US Treasury 3.625% 05/15/2053 | T 3.625 2053 | 2.60% |
| 5 | US Treasury 4.75% 11/15/2053 | T 4.75 2053 | 2.50% |
| 6 | US Treasury 4.5% 02/15/2044 | T 4.5 2044 | 2.20% |
| 7 | US Treasury 2.875% 05/15/2032 | T 2.875 2032 | 2.00% |
| 8 | US Treasury 4.125% 08/15/2053 | T 4.125 2053 | 1.90% |
| 9 | US Treasury 3.5% 02/15/2033 | T 3.5 2033 | 1.80% |
| 10 | US Treasury 4.0% 02/15/2034 | T 4.0 2034 | 1.70% |
GOVT's top holding is US Treasury 4.25% 02/15/2054 (T 4.25 2054) at 3.50%, followed by US Treasury 4.625% 05/15/2054 (T 4.625 2054) at 3.20% and US Treasury 4.0% 11/15/2052 (T 4.0 2052) at 2.80%. The top 10 holdings account for 24.20% of the fund's 190 total positions.
View data table
| Rank | Company | Ticker | Weight |
|---|---|---|---|
| 1 | US Treasury 4.25% 02/15/2054 | T 4.25 2054 | 3.50% |
| 2 | US Treasury 4.625% 05/15/2054 | T 4.625 2054 | 3.20% |
| 3 | US Treasury 4.0% 11/15/2052 | T 4.0 2052 | 2.80% |
| 4 | US Treasury 3.625% 05/15/2053 | T 3.625 2053 | 2.60% |
| 5 | US Treasury 4.75% 11/15/2053 | T 4.75 2053 | 2.50% |
| 6 | US Treasury 4.5% 02/15/2044 | T 4.5 2044 | 2.20% |
| 7 | US Treasury 2.875% 05/15/2032 | T 2.875 2032 | 2.00% |
| 8 | US Treasury 4.125% 08/15/2053 | T 4.125 2053 | 1.90% |
| 9 | US Treasury 3.5% 02/15/2033 | T 3.5 2033 | 1.80% |
| 10 | US Treasury 4.0% 02/15/2034 | T 4.0 2034 | 1.70% |
Want the full framework? This 2-hour ETF course teaches you exactly how to pick, buy, and hold profitable ETFs — from zero to confident investor. Under $15.
Ready to invest? Open an IBKR account in 10 minutes and get free stock. $0 commissions on US ETFs • Fractional shares from $1 • 150+ global markets.
GOVT Performance History
Here's how GOVT has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
0.50%
1 Year
3.00%
3 Year
-2.00%
5 Year
0.50%
10 Year
1.50%
GOVT has returned 0.50% annualized over 5 years and 1.50% over 10 years. YTD return is 0.50%.
View data table
| Period | Return |
|---|---|
| YTD | 0.50% |
| 1 Year | 3.00% |
| 3 Year | -2.00% |
| 5 Year | 0.50% |
| 10 Year | 1.50% |
Beginner Suitability Score: 9.5/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
GOVT scores 9.5/10 because it has very low fees, shows lower-than-average volatility, offers broad diversification across 190 holdings, and has been available since 2012, giving it a proven track record.
How to Buy GOVT — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "GOVT" — Use the search bar in your brokerage platform to find iShares U.S. Treasury Bond ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
GOVT Sector Allocation
Here's how GOVT distributes its investments across different sectors of the economy:
GOVT's largest sector allocation is Long-Term Treasury (20+ years) at 25.0%, followed by Intermediate Treasury (7-10 years) at 20.0% and Medium Treasury (5-7 years) at 15.0%.
View data table
| Sector | Weight |
|---|---|
| Long-Term Treasury (20+ years) | 25.0% |
| Intermediate Treasury (7-10 years) | 20.0% |
| Medium Treasury (5-7 years) | 15.0% |
| Short-Medium Treasury (3-5 years) | 15.0% |
| Short Treasury (1-3 years) | 12.0% |
| Ultra-Short Treasury (<1 year) | 5.0% |
| Treasury Inflation-Protected | 5.0% |
| Treasury Bills | 3.0% |
Dollar Cost Averaging Into GOVT
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With GOVT's expense ratio of 0.05%, a $10,000 investment would lose approximately $430 to fees over 20 years compared to a zero-fee investment. This is a reasonable fee level for the value provided.
GOVT's expense ratio of 0.05% costs $430 on a $10,000 investment over 20 years (assuming 8% annual return). Without fees, the investment would grow to $46,610 instead of $46,180.
View data table
| Year | Without Fees | With Fees | Fee Cost |
|---|---|---|---|
| 0 | $10,000 | $10,000 | $0 |
| 5 | $14,693 | $14,659 | $34 |
| 10 | $21,589 | $21,490 | $99 |
| 15 | $31,722 | $31,502 | $220 |
| 20 | $46,610 | $46,180 | $430 |
Pros and Cons of GOVT
Pros
- ✓Backed by the full faith and credit of the U.S. government for maximum safety
- ✓Broad maturity coverage from short to long-term bonds in a single fund
- ✓Low 0.05% expense ratio for a detailed Treasury bond portfolio
- ✓Strong flight-to-safety characteristics during stock market crashes and crises
Cons
- ✗Vulnerable to significant losses when interest rates rise sharply
- ✗Lower yields than corporate bonds since Treasuries carry no credit risk premium
- ✗Mixed maturity profile means it is not optimized for any specific duration target
Frequently Asked Questions
Is GOVT a good ETF for beginners?▾
GOVT has a Beginner Suitability Score of 9.5/10 on our scale. This makes it a strong choice for new investors due to its low fees and broad diversification.
What is the expense ratio of GOVT?▾
GOVT has an expense ratio of 0.05%. This means for every $10,000 you invest, you pay approximately $5 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in GOVT?▾
You can invest in GOVT with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does GOVT pay dividends?▾
Yes, GOVT pays dividends with a current yield of approximately 3.20%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in GOVT?▾
The top holdings in GOVT include US Treasury 4.25% 02/15/2054 (3.50%), US Treasury 4.625% 05/15/2054 (3.20%), US Treasury 4.0% 11/15/2052 (2.80%), and more. The fund holds 190 total positions, providing broad diversification across many companies.
What sectors does GOVT invest in?▾
GOVT's largest sector allocations are Long-Term Treasury (20+ years) (25.00%), Intermediate Treasury (7-10 years) (20.00%), Medium Treasury (5-7 years) (15.00%). This sector distribution shows a focus on long-term treasury (20+ years) stocks.
How much do GOVT's fees cost over time?▾
With an expense ratio of 0.05%, a $10,000 investment in GOVT would lose approximately $430 to fees over 20 years (assuming 8% annual returns). This is a reasonable fee level.