BCAT vs. SGOV
BCAT (BlackRock Capital Allocation Term Trust) is a stock, while SGOV (iShares 0-3 Month Treasury Bond ETF) is Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Over the past 5 years, BCAT returned 7.33%/yr vs 3.62%/yr for SGOV. At a 0.05 correlation, their price movements are largely independent.
Performance
BCAT vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, BCAT achieves a 25.07% return, which is significantly higher than SGOV's 1.92% return.
BCAT
- 1D
- 0.06%
- 1M
- 1.19%
- 6M
- 20.89%
- YTD
- 25.07%
- 1Y
- 29.68%
- 3Y*
- 21.44%
- 5Y*
- 7.33%
- 10Y*
- —
SGOV
- 1D
- 0.00%
- 1M
- 0.30%
- 6M
- 1.79%
- YTD
- 1.92%
- 1Y
- 3.88%
- 3Y*
- 4.66%
- 5Y*
- 3.62%
- 10Y*
- —
BCAT vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 25.07% | 16.78% | 19.37% | 19.30% | -22.64% | -5.21% | 9.35% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.92% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.02% |
Correlation
The correlation between BCAT and SGOV is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020 | 0.05 |
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Return for Risk
BCAT vs. SGOV — Risk / Return Rank
BCAT
SGOV
BCAT vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Capital Allocation Term Trust (BCAT) 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.
| BCAT | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.33 | ||
| Sortino ratioReturn per unit of downside risk | -380.27 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 384.06 | -382.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 391.99 | -388.25 |
| Martin ratioReturn relative to average drawdown | 17.37 | 6,210.22 | -6,192.86 |
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Drawdowns
BCAT vs. SGOV - Drawdown Comparison
The maximum BCAT drawdown since its inception was -36.13%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BCAT and SGOV.
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Drawdown Indicators
| BCAT | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.13% | -0.03% | -36.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.98% | -0.01% | -7.97% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -0.01% | -13.68% |
Max Drawdown (5Y)Largest decline over 5 years | -35.03% | -0.03% | -35.00% |
Current DrawdownCurrent decline from peak | -0.87% | 0.00% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -0.00% | -12.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.00% | +1.71% |
Volatility
BCAT vs. SGOV - Volatility Comparison
BlackRock Capital Allocation Term Trust (BCAT) has a higher volatility of 3.83% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that BCAT'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
| BCAT | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 0.05% | +3.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.56% | 0.13% | +9.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 0.19% | +11.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.24% | 0.24% | +15.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 0.24% | +15.66% |
Dividends
BCAT vs. SGOV - Dividend Comparison
BCAT's dividend yield for the trailing twelve months is around 19.83%, more than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BCAT BlackRock Capital Allocation Term Trust | 19.83% | 23.45% | 17.48% | 10.08% | 9.01% | 6.42% | 0.48% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.80% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
BCAT and SGOV have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BCAT has higher volatility (3.83%) compared to SGOV (0.05%). In terms of maximum drawdown, BCAT dropped -36.13% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.83 vs 2.50), 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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