BMA vs. SGOV
BMA (Banco Macro S.A.) 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, BMA returned 57.72%/yr vs 3.66%/yr for SGOV. Their -0.02 correlation means they have often moved in opposite directions in the past.
Performance
BMA vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, BMA achieves a 5.94% return, which is significantly higher than SGOV's 2.11% return.
BMA
- 1D
- -2.47%
- 1M
- 2.44%
- 6M
- -6.61%
- YTD
- 5.94%
- 1Y
- 45.12%
- 3Y*
- 66.06%
- 5Y*
- 57.72%
- 10Y*
- 7.23%
- ALL TIME*
- 11.15%
SGOV
- 1D
- 0.02%
- 1M
- 0.27%
- 6M
- 1.81%
- YTD
- 2.11%
- 1Y
- 3.83%
- 3Y*
- 4.64%
- 5Y*
- 3.66%
- 10Y*
- —
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.59M | $20.98M | $24.29M | |
| $1.83B | $1.81B | $2.03B |
BMA vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BMA Banco Macro S.A. | 5.94% | -3.55% | 277.79% | 91.62% | 27.04% | -9.96% | -24.45% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.11% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between BMA and SGOV is -0.19, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.19 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.02 |
The correlation between BMA and SGOV shifts across timeframes, from -0.19 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BMA vs. SGOV — Risk / Return Rank
BMA
SGOV
BMA vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Macro S.A. (BMA) 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.
| BMA | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.24 | ||
| Sortino ratioReturn per unit of downside risk | -380.38 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 382.06 | -380.88 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 389.90 | -389.04 |
| Martin ratioReturn relative to average drawdown | 1.91 | 6,177.21 | -6,175.30 |
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Drawdowns
BMA vs. SGOV - Drawdown Comparison
The maximum BMA drawdown since its inception was -91.66%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BMA and SGOV.
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Drawdown Indicators
| BMA | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.66% | -0.03% | -91.63% |
Max Drawdown (1Y)Largest decline over 1 year | -47.38% | -0.01% | -47.37% |
Max Drawdown (3Y)Largest decline over 3 years | -65.40% | -0.01% | -65.39% |
Max Drawdown (5Y)Largest decline over 5 years | -65.40% | -0.03% | -65.37% |
Max Drawdown (10Y)Largest decline over 10 years | -91.66% | — | — |
Current DrawdownCurrent decline from peak | -14.66% | 0.00% | -14.66% |
Average DrawdownAverage peak-to-trough decline | -44.61% | 0.00% | -44.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.35% | 0.00% | +21.35% |
Volatility
BMA vs. SGOV - Volatility Comparison
Banco Macro S.A. (BMA) has a higher volatility of 16.58% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that BMA'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
| BMA | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.58% | 0.05% | +16.53% |
Volatility (6M)Calculated over the trailing 6-month period | 40.83% | 0.13% | +40.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.00% | 0.19% | +74.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.88% | 0.24% | +59.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.53% | 0.23% | +62.30% |
Dividends
BMA vs. SGOV - Dividend Comparison
BMA's dividend yield for the trailing twelve months is around 5.35%, more than SGOV's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BMA Banco Macro S.A. | 5.35% | 2.38% | 6.10% | 7.75% | 7.28% | 0.00% | 0.00% | 6.20% | 5.05% | 0.65% | 1.53% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.43% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BMA and SGOV have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BMA has higher volatility (16.58%) compared to SGOV (0.05%). In terms of maximum drawdown, BMA dropped -91.66% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.78 vs 0.54), 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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