CAT vs. SGOV

Last updated Jun 4, 2026

CAT (Caterpillar Inc.) 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, CAT returned 32.93%/yr vs 3.54%/yr for SGOV. At a correlation of -0.05, they often move in opposite directions.

Performance

CAT vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Caterpillar Inc. (CAT) 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, CAT achieves a 62.36% return, which is significantly higher than SGOV's 1.51% return.

CAT

• 1D: 1.80%
• 1M: 5.88%
• YTD: 62.36%
• 6M: 57.25%
• 1Y: 167.95%
• 3Y*: 62.31%
• 5Y*: 32.93%
• 10Y*: 31.52%

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.51%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.72%
• 5Y*: 3.54%
• 10Y*: —

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

CAT vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CAT Caterpillar Inc.	62.36%	60.30%	24.66%	25.95%	18.60%	15.95%	52.81%
SGOV iShares 0-3 Month Treasury Bond ETF	1.51%	4.24%	5.27%	5.12%	1.58%	0.04%	0.05%

Correlation

The correlation between CAT and SGOV is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (All Time) Calculated using the full available price history since May 29, 2020	-0.05

Return for Risk

CAT vs. SGOV — Risk / Return Rank

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

CAT

CAT Risk / Return Rank: 98
CAT Sharpe Ratio Rank: 98
CAT Sortino Ratio Rank: 98
CAT Omega Ratio Rank: 97
CAT Calmar Ratio Rank: 98
CAT Martin Ratio Rank: 99

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.

CAT vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caterpillar Inc. (CAT) 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.

	CAT	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	4.98	20.28	-15.30
Sortino ratio: Return per unit of downside risk	5.68	275.69	-270.01
Omega ratio: Gain probability vs. loss probability	1.72	195.55	-193.83
Calmar ratio: Return relative to maximum drawdown	12.18	398.20	-386.02
Martin ratio: Return relative to average drawdown	40.49	4,462.00	-4,421.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAT vs. SGOV - Sharpe Ratio Comparison

The current CAT Sharpe Ratio is 4.98, which is lower than the SGOV Sharpe Ratio of 20.28. The chart below compares the historical Sharpe Ratios of CAT 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.

Sharpe Ratios by Period

	CAT	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.98	20.28	-15.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	14.73	-13.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	12.48	-12.13

Drawdowns

CAT vs. SGOV - Drawdown Comparison

The maximum CAT drawdown since its inception was -73.43%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for CAT and SGOV.

Drawdown Indicators

	CAT	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-73.43%	-0.03%	-73.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.88%	-0.01%	-13.87%
Max Drawdown (3Y) Largest decline over 3 years	-34.05%	-0.01%	-34.04%
Max Drawdown (5Y) Largest decline over 5 years	-34.05%	-0.03%	-34.02%
Max Drawdown (10Y) Largest decline over 10 years	-43.36%	—	—
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-19.74%	-0.00%	-19.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	0.00%	+4.17%

Volatility

CAT vs. SGOV - Volatility Comparison

Caterpillar Inc. (CAT) has a higher volatility of 11.17% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that CAT'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

	CAT	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.17%	0.05%	+11.12%
Volatility (6M) Calculated over the trailing 6-month period	27.09%	0.13%	+26.96%
Volatility (1Y) Calculated over the trailing 1-year period	33.97%	0.20%	+33.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.62%	0.24%	+30.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.86%	0.24%	+30.62%

Dividends

CAT vs. SGOV - Dividend Comparison

CAT's dividend yield for the trailing twelve months is around 0.65%, less than SGOV's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAT Caterpillar Inc.	0.65%	1.02%	1.49%	1.69%	1.93%	2.07%	2.26%	2.56%	2.58%	1.97%	3.32%	4.33%
SGOV iShares 0-3 Month Treasury Bond ETF	3.86%	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

Can I hold both CAT and SGOV in my portfolio?

CAT and SGOV have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAT or SGOV?

CAT has higher volatility (11.17%) compared to SGOV (0.05%). In terms of maximum drawdown, CAT dropped -73.43% vs SGOV's -0.03%.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.28 vs 4.98), 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.