CEF vs. SGOV
CEF (Sprott Physical Gold and Silver Trust) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both funds - CEF is a Gold fund actively managed by Sprott, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. CEF is actively managed, while SGOV is passively managed. Over the past 5 years, CEF returned 16.96%/yr vs 3.56%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. CEF charges 0.48%/yr vs 0.09%/yr for SGOV.
Performance
CEF vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, CEF achieves a -4.91% return, which is significantly lower than SGOV's 1.61% return.
CEF
- 1D
- 0.62%
- 1M
- -9.04%
- YTD
- -4.91%
- 6M
- 0.53%
- 1Y
- 40.89%
- 3Y*
- 33.17%
- 5Y*
- 16.96%
- 10Y*
- 12.56%
SGOV
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.91%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
CEF vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEF Sprott Physical Gold and Silver Trust | -4.91% | 92.76% | 24.07% | 6.80% | 1.07% | -8.32% | 19.15% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between CEF and SGOV is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.01 |
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Return for Risk
CEF vs. SGOV — Risk / Return Rank
CEF
SGOV
CEF vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Gold and Silver Trust (CEF) 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.
| CEF | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.19 | ||
| Sortino ratioReturn per unit of downside risk | -274.23 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 195.55 | -194.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 398.20 | -396.79 |
| Martin ratioReturn relative to average drawdown | 3.72 | 4,461.98 | -4,458.26 |
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Drawdowns
CEF vs. SGOV - Drawdown Comparison
The maximum CEF drawdown since its inception was -62.29%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for CEF and SGOV.
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Drawdown Indicators
| CEF | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.29% | -0.03% | -62.26% |
Max Drawdown (1Y)Largest decline over 1 year | -30.01% | -0.01% | -30.00% |
Max Drawdown (3Y)Largest decline over 3 years | -30.01% | -0.01% | -30.00% |
Max Drawdown (5Y)Largest decline over 5 years | -30.01% | -0.03% | -29.98% |
Max Drawdown (10Y)Largest decline over 10 years | -30.01% | — | — |
Current DrawdownCurrent decline from peak | -26.45% | 0.00% | -26.45% |
Average DrawdownAverage peak-to-trough decline | -27.33% | -0.00% | -27.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.35% | 0.00% | +11.35% |
Volatility
CEF vs. SGOV - Volatility Comparison
Sprott Physical Gold and Silver Trust (CEF) has a higher volatility of 11.51% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that CEF'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
| CEF | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.51% | 0.05% | +11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 36.13% | 0.13% | +36.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.81% | 0.20% | +38.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.54% | 0.24% | +24.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 0.24% | +21.72% |
CEF vs. SGOV - Expense Ratio Comparison
CEF has a 0.48% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
CEF vs. SGOV - Dividend Comparison
CEF has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEF Sprott Physical Gold and Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.07% | 0.09% | 0.10% |
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
CEF and SGOV have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEF has higher volatility (11.51%) compared to SGOV (0.05%). In terms of maximum drawdown, CEF dropped -62.29% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.09), 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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