ECNS vs. SGOV
ECNS (iShares MSCI China Small-Cap ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - ECNS is a China Equities fund tracking the MSCI China Small Cap Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, ECNS returned -7.01%/yr vs 3.66%/yr for SGOV. Their 0.00 correlation means their historical movements had little consistent relationship. ECNS charges 0.59%/yr vs 0.09%/yr for SGOV.
Performance
ECNS vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, ECNS achieves a -10.84% return, which is significantly lower than SGOV's 2.13% return.
ECNS
- 1D
- -0.28%
- 1M
- 1.48%
- 6M
- -15.13%
- YTD
- -10.84%
- 1Y
- -10.63%
- 3Y*
- 3.54%
- 5Y*
- -7.01%
- 10Y*
- 0.89%
- ALL TIME*
- 0.21%
SGOV
- 1D
- 0.02%
- 1M
- 0.29%
- 6M
- 1.82%
- YTD
- 2.13%
- 1Y
- 3.85%
- 3Y*
- 4.62%
- 5Y*
- 3.66%
- 10Y*
- —
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $217.02K | $210.44K | $354.53K | |
| $1.99B | $1.87B | $2.06B |
ECNS vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -10.84% | 36.49% | 5.64% | -23.05% | -24.58% | 2.11% | 44.22% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.13% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between ECNS and SGOV is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.00 |
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Return for Risk
ECNS vs. SGOV — Risk / Return Rank
ECNS
SGOV
ECNS vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.
| ECNS | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.29 | ||
| Sortino ratioReturn per unit of downside risk | -380.82 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 380.49 | -379.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 388.26 | -388.68 |
| Martin ratioReturn relative to average drawdown | -0.82 | 6,151.27 | -6,152.09 |
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Drawdowns
ECNS vs. SGOV - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for ECNS and SGOV.
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Drawdown Indicators
| ECNS | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -0.03% | -63.40% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -0.01% | -25.72% |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | -0.01% | -29.28% |
Max Drawdown (5Y)Largest decline over 5 years | -57.31% | -0.03% | -57.28% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | — | — |
Current DrawdownCurrent decline from peak | -42.60% | 0.00% | -42.60% |
Average DrawdownAverage peak-to-trough decline | -29.51% | 0.00% | -29.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.01% | 0.00% | +13.01% |
Volatility
ECNS vs. SGOV - Volatility Comparison
iShares MSCI China Small-Cap ETF (ECNS) has a higher volatility of 6.37% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that ECNS'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
| ECNS | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 0.04% | +6.33% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 0.13% | +14.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 0.19% | +20.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 0.24% | +28.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.82% | 0.23% | +25.59% |
ECNS vs. SGOV - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
ECNS vs. SGOV - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.60%, more than SGOV's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | 6.60% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.75% | 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
ECNS 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.
ECNS has higher volatility (6.37%) compared to SGOV (0.04%). In terms of maximum drawdown, ECNS dropped -63.43% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.66% vs -7.01% for ECNS. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.66% return vs -7.01%. 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 0.59% for ECNS.
ECNS has the higher dividend yield at 6.60%, compared with 3.75% for SGOV.
ECNS is categorized as China Equities, while SGOV is Ultrashort Bond. ECNS tracks MSCI China Small Cap Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.59% for ECNS and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.78 vs -0.51), 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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