ECLN vs. SGOV

Last updated Jul 12, 2026

ECLN (First Trust EIP Carbon Impact ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - ECLN is a Utilities Equities fund actively managed by First Trust, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. ECLN is actively managed, while SGOV is passively managed. At a correlation of -0.03, they often move in opposite directions. ECLN charges 0.97%/yr vs 0.09%/yr for SGOV.

Performance

ECLN vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust EIP Carbon Impact ETF (ECLN) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ECLN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.02%
• 1M: 0.28%
• 6M: 1.80%
• YTD: 1.90%
• 1Y: 3.86%
• 3Y*: 4.67%
• 5Y*: 3.62%
• 10Y*: —

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

ECLN vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ECLN First Trust EIP Carbon Impact ETF	12.96%	16.78%	22.60%	-3.36%	5.28%	12.26%	16.40%
SGOV iShares 0-3 Month Treasury Bond ETF	1.90%	4.24%	5.27%	5.12%	1.58%	0.04%	0.04%

Correlation

The correlation between ECLN 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	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 28, 2020	-0.03

The correlation between ECLN and SGOV shifts across timeframes, from -0.13 (1 year) to -0.01 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ECLN vs. SGOV — Risk / Return Rank

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

ECLN

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.

ECLN vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust EIP Carbon Impact ETF (ECLN) 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.

	ECLN	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	—	20.77	—
Sortino ratio: Return per unit of downside risk	—	385.82	—
Omega ratio: Gain probability vs. loss probability	—	386.06	—
Calmar ratio: Return relative to maximum drawdown	—	394.07	—
Martin ratio: Return relative to average drawdown	—	6,243.29	—

Drawdowns

Drawdown Indicators

	ECLN	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.03%	—
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	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.00%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	ECLN	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.19%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.24%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.24%	—

ECLN vs. SGOV - Expense Ratio Comparison

ECLN has a 0.97% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

ECLN vs. SGOV - Dividend Comparison

ECLN has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECLN First Trust EIP Carbon Impact ETF	1.43%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%
SGOV iShares 0-3 Month Treasury Bond ETF	3.80%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%	0.00%

Frequently Asked Questions

Can I hold both ECLN and SGOV in my portfolio?

ECLN 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 ETF is better, ECLN or SGOV?

On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ECLN or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.97% for ECLN.

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

SGOV has the higher dividend yield at 3.80%, compared with 1.43% for ECLN.

What is the main difference between ECLN and SGOV?

ECLN is categorized as Utilities Equities, while SGOV is Ultrashort Bond. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.97% for ECLN and 0.09% for SGOV.