BTOT vs. SGOV

Last updated Jun 26, 2026

BTOT (iShares Total USD Fixed Income Market ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - BTOT is a Total Bond Market fund tracking the Bloomberg US Total Fixed Income Market Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. At a correlation of -0.11, they often move in opposite directions. Both charge a 0.09% expense ratio.

Performance

BTOT vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total USD Fixed Income Market ETF (BTOT) 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, BTOT achieves a 1.10% return, which is significantly lower than SGOV's 1.73% return.

BTOT

• 1D: 0.06%
• 1M: 0.87%
• YTD: 1.10%
• 6M: 1.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.73%
• 6M: 1.80%
• 1Y: 3.92%
• 3Y*: 4.69%
• 5Y*: 3.58%
• 10Y*: —

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

BTOT vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
BTOT iShares Total USD Fixed Income Market ETF	1.10%	0.12%
SGOV iShares 0-3 Month Treasury Bond ETF	1.73%	0.23%

Correlation

The correlation between BTOT and SGOV is -0.11, 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 (All Time) Calculated using the full available price history since Dec 11, 2025	-0.11

Return for Risk

BTOT vs. SGOV — Risk / Return Rank

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

BTOT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BTOT vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) 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.

	BTOT	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	—	20.32	—
Sortino ratio: Return per unit of downside risk	—	273.56	—
Omega ratio: Gain probability vs. loss probability	—	194.05	—
Calmar ratio: Return relative to maximum drawdown	—	395.07	—
Martin ratio: Return relative to average drawdown	—	4,426.92	—

Drawdowns

BTOT vs. SGOV - Drawdown Comparison

The maximum BTOT drawdown since its inception was -2.36%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BTOT and SGOV.

Drawdown Indicators

	BTOT	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-0.03%	-2.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
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	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.00%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	BTOT	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	0.19%	+3.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.72%	0.24%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.72%	0.24%	+3.48%

BTOT vs. SGOV - Expense Ratio Comparison

Both BTOT and SGOV have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

BTOT vs. SGOV - Dividend Comparison

BTOT's dividend yield for the trailing twelve months is around 2.11%, less than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
BTOT iShares Total USD Fixed Income Market ETF	2.11%	0.22%	0.00%	0.00%	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 BTOT and SGOV in my portfolio?

BTOT and SGOV have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BTOT or SGOV?

Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTOT or SGOV?

BTOT and SGOV have the same expense ratio: 0.09% per year.

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

SGOV has the higher dividend yield at 3.85%, compared with 2.11% for BTOT.

What is the main difference between BTOT and SGOV?

BTOT is categorized as Total Bond Market, while SGOV is Ultrashort Bond. BTOT tracks Bloomberg US Total Fixed Income Market Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index.