CANC vs. SGOV
CANC (Tema Oncology ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - CANC is a Health & Biotech Equities fund actively managed by Tema, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. CANC is actively managed, while SGOV is passively managed. Over the past 3 years, CANC returned 132.65%/yr vs 4.68%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. CANC charges 0.75%/yr vs 0.09%/yr for SGOV.
Performance
CANC vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, CANC achieves a 11.49% return, which is significantly higher than SGOV's 1.71% return.
CANC
- 1D
- 1.64%
- 1M
- 1.56%
- YTD
- 11.49%
- 6M
- 9.19%
- 1Y
- 56.88%
- 3Y*
- 132.65%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.71%
- 6M
- 1.80%
- 1Y
- 3.92%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
CANC vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CANC Tema Oncology ETF | 11.49% | 42.92% | -5.37% | 510.51% | -85.34% | -55.35% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.71% | 4.24% | 5.27% | 5.12% | 1.58% | 0.01% |
Correlation
The correlation between CANC and SGOV is -0.18, 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 (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | -0.01 |
The correlation between CANC and SGOV shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CANC vs. SGOV — Risk / Return Rank
CANC
SGOV
CANC vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) 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.
| CANC | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.81 | ||
| Sortino ratioReturn per unit of downside risk | -270.02 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 194.05 | -192.65 |
| Calmar ratioReturn relative to maximum drawdown | 6.15 | 395.07 | -388.92 |
| Martin ratioReturn relative to average drawdown | 16.71 | 4,426.92 | -4,410.21 |
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Drawdowns
CANC vs. SGOV - Drawdown Comparison
The maximum CANC drawdown since its inception was -97.53%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for CANC and SGOV.
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Drawdown Indicators
| CANC | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.53% | -0.03% | -97.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.30% | -0.01% | -9.29% |
Max Drawdown (3Y)Largest decline over 3 years | -30.27% | -0.01% | -30.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -53.78% | 0.00% | -53.78% |
Average DrawdownAverage peak-to-trough decline | -72.94% | -0.00% | -72.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 0.00% | +3.41% |
Volatility
CANC vs. SGOV - Volatility Comparison
Tema Oncology ETF (CANC) has a higher volatility of 6.60% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that CANC'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
| CANC | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.60% | 0.06% | +6.54% |
Volatility (6M)Calculated over the trailing 6-month period | 16.94% | 0.13% | +16.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.72% | 0.19% | +22.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 278.65% | 0.24% | +278.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 278.65% | 0.24% | +278.41% |
CANC vs. SGOV - Expense Ratio Comparison
CANC has a 0.75% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
CANC vs. SGOV - Dividend Comparison
CANC's dividend yield for the trailing twelve months is around 0.05%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CANC Tema Oncology ETF | 0.05% | 0.06% | 3.00% | 0.56% | 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
CANC and SGOV have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CANC has higher volatility (6.60%) compared to SGOV (0.06%). In terms of maximum drawdown, CANC dropped -97.53% vs SGOV's -0.03%.
On 3-year performance, CANC leads with 132.65% vs 4.68% for SGOV. 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.
Over the 3-year period, CANC has performed better with a 132.65% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.75% for CANC.
SGOV has the higher dividend yield at 3.85%, compared with 0.05% for CANC.
CANC is categorized as Health & Biotech Equities, while SGOV is Ultrashort Bond. They also come from different issuers: Tema and iShares. Their fees differ too: 0.75% for CANC and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs 2.52), 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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