BSV vs. SGOV
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, BSV returned 1.58%/yr vs 3.54%/yr for SGOV. At a 0.07 correlation, their price movements are largely independent. BSV charges 0.03%/yr vs 0.09%/yr for SGOV.
Performance
BSV vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, BSV achieves a 0.11% return, which is significantly lower than SGOV's 1.55% return.
BSV
- 1D
- -0.26%
- 1M
- -0.36%
- YTD
- 0.11%
- 6M
- 0.49%
- 1Y
- 3.38%
- 3Y*
- 4.36%
- 5Y*
- 1.58%
- 10Y*
- 1.93%
SGOV
- 1D
- 0.03%
- 1M
- 0.31%
- YTD
- 1.55%
- 6M
- 1.79%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
BSV vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.11% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 1.04% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.55% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between BSV and SGOV is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.07 |
The correlation between BSV and SGOV shifts across timeframes, from -0.06 (1 year) to 0.07 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSV vs. SGOV — Risk / Return Rank
BSV
SGOV
BSV vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) 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.
| BSV | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.46 | ||
| Sortino ratioReturn per unit of downside risk | -274.14 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 196.55 | -195.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 400.29 | -397.66 |
| Martin ratioReturn relative to average drawdown | 9.17 | 4,485.40 | -4,476.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSV | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 20.34 | -18.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 14.75 | -14.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 12.50 | -11.65 |
Drawdowns
BSV vs. SGOV - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BSV and SGOV.
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Drawdown Indicators
| BSV | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -0.03% | -8.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -0.01% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -0.01% | -1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -8.54% | -0.03% | -8.51% |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | — | — |
Current DrawdownCurrent decline from peak | -0.81% | 0.00% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -0.00% | -0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.00% | +0.37% |
Volatility
BSV vs. SGOV - Volatility Comparison
Vanguard Short-Term Bond Index Fund ETF Shares (BSV) has a higher volatility of 0.55% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that BSV'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
| BSV | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.55% | 0.06% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 1.28% | 0.13% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.81% | 0.20% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 0.24% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.37% | 0.24% | +2.13% |
BSV vs. SGOV - Expense Ratio Comparison
BSV has a 0.03% expense ratio, which is lower than SGOV's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BSV vs. SGOV - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 4.00%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 4.00% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BSV and SGOV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSV has higher volatility (0.55%) compared to SGOV (0.06%). In terms of maximum drawdown, BSV dropped -8.54% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs 1.58% for BSV. On fees, BSV is cheaper at 0.03% 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 5-year period, SGOV has performed better with a 3.54% return vs 1.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSV is cheaper with a 0.03% expense ratio, compared with 0.09% for SGOV.
BSV has the higher dividend yield at 4.00%, compared with 3.85% for SGOV.
BSV is categorized as Short-Term Bond, while SGOV is Ultrashort Bond. BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BSV and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.34 vs 1.87), 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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