CTEF vs. SGOV

Last updated Jun 23, 2026

CTEF (Castellan Targeted Equity ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - CTEF is a Mid Cap Blend Equities fund actively managed by Castellan, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. CTEF is actively managed, while SGOV is passively managed. Over the past year, CTEF returned 87.37% vs 3.93% for SGOV. At a correlation of -0.13, they often move in opposite directions. CTEF charges 0.45%/yr vs 0.09%/yr for SGOV.

Performance

CTEF vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castellan Targeted Equity ETF (CTEF) 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, CTEF achieves a 40.36% return, which is significantly higher than SGOV's 1.70% return.

CTEF

• 1D: 0.97%
• 1M: 16.38%
• YTD: 40.36%
• 6M: 37.32%
• 1Y: 87.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.27%
• YTD: 1.70%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.68%
• 5Y*: 3.58%
• 10Y*: —

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

CTEF vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
CTEF Castellan Targeted Equity ETF	40.36%	33.10%
SGOV iShares 0-3 Month Treasury Bond ETF	1.70%	2.25%

Correlation

The correlation between CTEF 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 (All Time) Calculated using the full available price history since Jun 18, 2025	-0.13

Return for Risk

CTEF vs. SGOV — Risk / Return Rank

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

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 95
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 92
CTEF Martin Ratio Rank: 95

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.

CTEF vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castellan Targeted Equity ETF (CTEF) 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.

	CTEF	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	3.91	20.38	-16.47
Sortino ratio: Return per unit of downside risk	4.80	274.27	-269.46
Omega ratio: Gain probability vs. loss probability	1.62	194.55	-192.93
Calmar ratio: Return relative to maximum drawdown	5.86	396.11	-390.25
Martin ratio: Return relative to average drawdown	27.12	4,438.60	-4,411.48

CTEF vs. SGOV - Sharpe Ratio Comparison

The current CTEF Sharpe Ratio is 3.91, which is lower than the SGOV Sharpe Ratio of 20.38. The chart below compares the historical Sharpe Ratios of CTEF 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.

Drawdowns

CTEF vs. SGOV - Drawdown Comparison

The maximum CTEF drawdown since its inception was -15.00%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for CTEF and SGOV.

Drawdown Indicators

	CTEF	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-15.00%	-0.03%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-0.01%	-14.99%
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	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.75%	-0.00%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	0.00%	+3.23%

Volatility

CTEF vs. SGOV - Volatility Comparison

Castellan Targeted Equity ETF (CTEF) has a higher volatility of 8.56% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that CTEF'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

	CTEF	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.56%	0.06%	+8.50%
Volatility (6M) Calculated over the trailing 6-month period	18.88%	0.13%	+18.75%
Volatility (1Y) Calculated over the trailing 1-year period	22.52%	0.19%	+22.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.44%	0.24%	+22.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.44%	0.24%	+22.20%

CTEF vs. SGOV - Expense Ratio Comparison

CTEF has a 0.45% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

CTEF vs. SGOV - Dividend Comparison

CTEF'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
CTEF Castellan Targeted Equity ETF	0.05%	0.08%	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 CTEF and SGOV in my portfolio?

CTEF 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, CTEF or SGOV?

CTEF has higher volatility (8.56%) compared to SGOV (0.06%). In terms of maximum drawdown, CTEF dropped -15.00% vs SGOV's -0.03%.

Which ETF is better, CTEF or SGOV?

On 1-year performance, CTEF leads with 87.37% vs 3.93% 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.

Which ETF has performed better, CTEF or SGOV?

Over the 1-year period, CTEF has performed better with a 87.37% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEF or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.45% for CTEF.

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

SGOV has the higher dividend yield at 3.85%, compared with 0.05% for CTEF.

What is the main difference between CTEF and SGOV?

CTEF is categorized as Mid Cap Blend Equities, while SGOV is Ultrashort Bond. They also come from different issuers: Castellan and iShares. Their fees differ too: 0.45% for CTEF and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.38 vs 3.91), 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.