APIE vs. SGOV
APIE (ActivePassive International Equity ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - APIE is a Foreign Large Cap Equities fund actively managed by ActivePassive, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. APIE is actively managed, while SGOV is passively managed. Over the past 3 years, APIE returned 18.28%/yr vs 4.68%/yr for SGOV. At a correlation of -0.06, they often move in opposite directions. APIE charges 0.45%/yr vs 0.09%/yr for SGOV.
Performance
APIE vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, APIE achieves a 9.17% return, which is significantly higher than SGOV's 1.70% return.
APIE
- 1D
- -0.29%
- 1M
- 2.45%
- YTD
- 9.17%
- 6M
- 9.79%
- 1Y
- 26.18%
- 3Y*
- 18.28%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.27%
- YTD
- 1.70%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
APIE vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
APIE ActivePassive International Equity ETF | 9.17% | 31.46% | 7.37% | 7.64% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.70% | 4.24% | 5.27% | 3.58% |
Correlation
The correlation between APIE and SGOV is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | -0.06 |
The correlation between APIE and SGOV shifts across timeframes, from -0.17 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APIE vs. SGOV — Risk / Return Rank
APIE
SGOV
APIE vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ActivePassive International Equity ETF (APIE) and iShares 0-3 Month Treasury Bond ETF (SGOV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APIE | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.81 | ||
| Sortino ratioReturn per unit of downside risk | -272.03 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 194.55 | -193.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 396.11 | -393.99 |
| Martin ratioReturn relative to average drawdown | 7.75 | 4,438.60 | -4,430.85 |
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Drawdowns
APIE vs. SGOV - Drawdown Comparison
The maximum APIE drawdown since its inception was -15.94%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for APIE and SGOV.
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Drawdown Indicators
| APIE | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.94% | -0.03% | -15.91% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -0.01% | -12.40% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -0.01% | -15.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -0.54% | 0.00% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -2.74% | -0.00% | -2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 0.00% | +3.39% |
Volatility
APIE vs. SGOV - Volatility Comparison
ActivePassive International Equity ETF (APIE) has a higher volatility of 5.99% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that APIE's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APIE | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.99% | 0.06% | +5.93% |
Volatility (6M)Calculated over the trailing 6-month period | 13.88% | 0.13% | +13.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 0.19% | +16.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 0.24% | +16.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 0.24% | +16.70% |
APIE vs. SGOV - Expense Ratio Comparison
APIE has a 0.45% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
APIE vs. SGOV - Dividend Comparison
APIE's dividend yield for the trailing twelve months is around 3.40%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
APIE ActivePassive International Equity ETF | 3.40% | 3.71% | 2.14% | 0.63% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
APIE and SGOV have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APIE has higher volatility (5.99%) compared to SGOV (0.06%). In terms of maximum drawdown, APIE dropped -15.94% vs SGOV's -0.03%.
On 3-year performance, APIE leads with 18.28% vs 4.68% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, APIE has performed better with a 18.28% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.45% for APIE.
SGOV has the higher dividend yield at 3.85%, compared with 3.40% for APIE.
APIE is categorized as Foreign Large Cap Equities, while SGOV is Ultrashort Bond. They also come from different issuers: ActivePassive and iShares. Their fees differ too: 0.45% for APIE and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.38 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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