BETH vs. SGOV

Last updated Jun 23, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - BETH is a Cryptocurrency fund actively managed by ProShares, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. BETH is actively managed, while SGOV is passively managed. Over the past year, BETH returned -39.06% vs 3.93% for SGOV. At a 0.03 correlation, their price movements are largely independent. BETH charges 0.95%/yr vs 0.09%/yr for SGOV.

Performance

BETH vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETH achieves a -30.28% return, which is significantly lower than SGOV's 1.70% return.

BETH

• 1D: 2.26%
• 1M: -15.37%
• YTD: -30.28%
• 6M: -30.97%
• 1Y: -39.06%
• 3Y*: —
• 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*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BETH vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-30.28%	-11.20%	85.03%	39.34%
SGOV iShares 0-3 Month Treasury Bond ETF	1.70%	4.24%	5.27%	1.34%

Correlation

The correlation between BETH and SGOV is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.03

Return for Risk

BETH vs. SGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETH

BETH Risk / Return Rank: 3
BETH Sharpe Ratio Rank: 2
BETH Sortino Ratio Rank: 3
BETH Omega Ratio Rank: 3
BETH Calmar Ratio Rank: 3
BETH Martin Ratio Rank: 3

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BETH vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) 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.

	BETH	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	20.38	-21.21
Sortino ratio: Return per unit of downside risk	-1.10	274.27	-275.37
Omega ratio: Gain probability vs. loss probability	0.88	194.55	-193.68
Calmar ratio: Return relative to maximum drawdown	-0.70	396.11	-396.81
Martin ratio: Return relative to average drawdown	-1.19	4,438.60	-4,439.79

BETH vs. SGOV - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -0.83, which is lower than the SGOV Sharpe Ratio of 20.38. The chart below compares the historical Sharpe Ratios of BETH and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETH vs. SGOV - Drawdown Comparison

The maximum BETH drawdown since its inception was -56.03%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BETH and SGOV.

Drawdown Indicators

	BETH	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	-0.03%	-56.00%
Max Drawdown (1Y) Largest decline over 1 year	-56.03%	-0.01%	-56.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	-52.89%	0.00%	-52.89%
Average Drawdown Average peak-to-trough decline	-18.25%	-0.00%	-18.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.83%	0.00%	+32.83%

Volatility

BETH vs. SGOV - Volatility Comparison

ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) has a higher volatility of 13.56% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that BETH'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.

Volatility by Period

	BETH	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	0.06%	+13.50%
Volatility (6M) Calculated over the trailing 6-month period	36.49%	0.13%	+36.36%
Volatility (1Y) Calculated over the trailing 1-year period	47.48%	0.19%	+47.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.17%	0.24%	+50.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.17%	0.24%	+50.93%

BETH vs. SGOV - Expense Ratio Comparison

BETH has a 0.95% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

BETH vs. SGOV - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 58.62%, more than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	58.62%	57.68%	19.71%	0.36%	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

Can I hold both BETH and SGOV in my portfolio?

BETH and SGOV have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETH or SGOV?

BETH has higher volatility (13.56%) compared to SGOV (0.06%). In terms of maximum drawdown, BETH dropped -56.03% vs SGOV's -0.03%.

Which ETF is better, BETH or SGOV?

On 1-year performance, SGOV leads with 3.93% vs -39.06% for BETH. 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.

Which ETF has performed better, BETH or SGOV?

Over the 1-year period, SGOV has performed better with a 3.93% return vs -39.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETH or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.95% for BETH.

Which ETF pays a higher dividend yield, BETH or SGOV?

BETH has the higher dividend yield at 58.62%, compared with 3.85% for SGOV.

What is the main difference between BETH and SGOV?

BETH is categorized as Cryptocurrency, while SGOV is Ultrashort Bond. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for BETH and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.38 vs -0.83), 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.