First Trust Intermediate Government Opportunities ETF (MGOV) belongs to the Government Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MGOV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MGOV
MGOV charges 0.65% annually. There are 83 ETFs in the Government Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| BondBloxx Bloomberg One Year Target Duration US Tr... | 0.03% | 841.59M | Sep 2022 | MGOV vs XONE | |
| BondBloxx Bloomberg Six Month Target Duration US T... | 0.03% | 1.94B | Sep 2022 | MGOV vs XHLF | |
| SPDR Portfolio Short Term Treasury ETF | 0.03% | 6.12B | Nov 2011 | MGOV vs SPTS | |
| Schwab Short-Term U.S. Treasury ETF | 0.03% | 12.86B | Aug 2010 | MGOV vs SCHO | |
| Vanguard Total Treasury ETF | 0.03% | 146.70M | Jul 2025 | MGOV vs VTG |
Best Risk-Adjusted Alternatives to MGOV
MGOV has a PortfoliosLab risk / return rank of 26. There are 29 ETFs in the Government Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 100 | 47.03B | May 2007 | MGOV vs BIL | |
| Goldman Sachs Access Treasury 0-1 Year ETF | 100 | 7.59B | Sep 2016 | MGOV vs GBIL | |
| iShares 0-1 Year Treasury Bond ETF | 100 | 20.70B | Jan 2007 | MGOV vs SHV | |
| WisdomTree Floating Rate Treasury Fund | 100 | 18.13B | Feb 2014 | MGOV vs USFR | |
| iShares Treasury Floating Rate Bond ETF | 100 | 6.70B | Feb 2014 | MGOV vs TFLO |
Top Performing MGOV Alternatives (YTD)
MGOV is at -0.08% YTD. There are 34 ETFs in the Government Bonds category with higher YTD returns, going as high as 3.08%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| iShares Global Government Bond USD Hedged Active E... | 3.08% | 2.97B | Jun 2025 | MGOV vs GGOV | |
| Quadratic Deflation ETF | 2.69% | 20.75M | Sep 2021 | MGOV vs BNDD | |
| Simplify Treasury Option Income ETF | 2.55% | 489.70M | Oct 2022 | MGOV vs BUCK | |
| WisdomTree Floating Rate Treasury Fund | 2.29% | 18.13B | Feb 2014 | MGOV vs USFR | |
| iShares Treasury Floating Rate Bond ETF | 2.28% | 6.70B | Feb 2014 | MGOV vs TFLO |
Lowest Volatility Alternatives to MGOV
MGOV has 4.34% 1-year volatility. There are 49 ETFs in the Government Bonds category with lower 1-year volatility, going as low as 0.20%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares 0-1 Year Treasury Bond ETF | 0.20% | 20.70B | Jan 2007 | MGOV vs SHV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.20% | 47.03B | May 2007 | MGOV vs BIL | |
| Goldman Sachs Access Treasury 0-1 Year ETF | 0.21% | 7.59B | Sep 2016 | MGOV vs GBIL | |
| WisdomTree Floating Rate Treasury Fund | 0.27% | 18.13B | Feb 2014 | MGOV vs USFR | |
| iShares Treasury Floating Rate Bond ETF | 0.29% | 6.70B | Feb 2014 | MGOV vs TFLO |
Lowest Drawdown Alternatives to MGOV
MGOV has a 1-year max drawdown of -3.53%. There are 44 ETFs in the Government Bonds category with shallower 1-year drawdowns, going as shallow as -0.01%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.01% | 47.03B | May 2007 | MGOV vs BIL | |
| iShares Treasury Floating Rate Bond ETF | -0.02% | 6.70B | Feb 2014 | MGOV vs TFLO | |
| WisdomTree Floating Rate Treasury Fund | -0.02% | 18.13B | Feb 2014 | MGOV vs USFR | |
| Goldman Sachs Access Treasury 0-1 Year ETF | -0.02% | 7.59B | Sep 2016 | MGOV vs GBIL | |
| iShares 0-1 Year Treasury Bond ETF | -0.03% | 20.70B | Jan 2007 | MGOV vs SHV |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $25B.
Often Compared With MGOV
Investors most often compare MGOV with LGOV, VETZ, TRSY. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare MGOV with Any Fund or Stock
Compare MGOV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MGOV with funds that move differently
First Trust Intermediate Government Opportunities ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MGOV.
Explore MGOV Diversifiers