FRTY vs. SGOV
FRTY (Alger Mid Cap 40 ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - FRTY is a Mid Cap Growth Equities fund actively managed by Alger Group Holdings LLC, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. FRTY is actively managed, while SGOV is passively managed. Over the past 5 years, FRTY returned 4.22%/yr vs 3.58%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. FRTY charges 0.60%/yr vs 0.09%/yr for SGOV.
Performance
FRTY vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, FRTY achieves a 14.80% return, which is significantly higher than SGOV's 1.70% return.
FRTY
- 1D
- 0.04%
- 1M
- 8.73%
- YTD
- 14.80%
- 6M
- 13.31%
- 1Y
- 31.77%
- 3Y*
- 24.89%
- 5Y*
- 4.22%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.27%
- YTD
- 1.70%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
FRTY vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FRTY Alger Mid Cap 40 ETF | 14.80% | 12.82% | 38.86% | 16.81% | -42.23% | 2.46% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.70% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% |
Correlation
The correlation between FRTY and SGOV is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021 | -0.03 |
The correlation between FRTY and SGOV shifts across timeframes, from -0.14 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRTY vs. SGOV — Risk / Return Rank
FRTY
SGOV
FRTY vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap 40 ETF (FRTY) 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.
| FRTY | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -19.19 | ||
| Sortino ratioReturn per unit of downside risk | -272.59 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 194.55 | -193.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 396.11 | -394.49 |
| Martin ratioReturn relative to average drawdown | 4.17 | 4,438.60 | -4,434.43 |
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Drawdowns
FRTY vs. SGOV - Drawdown Comparison
The maximum FRTY drawdown since its inception was -53.15%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for FRTY and SGOV.
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Drawdown Indicators
| FRTY | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.15% | -0.03% | -53.12% |
Max Drawdown (1Y)Largest decline over 1 year | -19.75% | -0.01% | -19.74% |
Max Drawdown (3Y)Largest decline over 3 years | -31.48% | -0.01% | -31.47% |
Max Drawdown (5Y)Largest decline over 5 years | -53.15% | -0.03% | -53.12% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -27.73% | -0.00% | -27.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.63% | 0.00% | +7.63% |
Volatility
FRTY vs. SGOV - Volatility Comparison
Alger Mid Cap 40 ETF (FRTY) has a higher volatility of 9.71% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that FRTY'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
| FRTY | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.71% | 0.06% | +9.65% |
Volatility (6M)Calculated over the trailing 6-month period | 19.68% | 0.13% | +19.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.88% | 0.19% | +26.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.41% | 0.24% | +27.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.22% | 0.24% | +26.98% |
FRTY vs. SGOV - Expense Ratio Comparison
FRTY has a 0.60% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
FRTY vs. SGOV - Dividend Comparison
FRTY's dividend yield for the trailing twelve months is around 0.17%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FRTY Alger Mid Cap 40 ETF | 0.17% | 0.19% | 0.10% | 0.00% | 0.00% | 5.35% | 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
FRTY and SGOV have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRTY has higher volatility (9.71%) compared to SGOV (0.06%). In terms of maximum drawdown, FRTY dropped -53.15% vs SGOV's -0.03%.
On 5-year performance, FRTY leads with 4.22% vs 3.58% 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.
Over the 5-year period, FRTY has performed better with a 4.22% return vs 3.58%. 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 0.60% for FRTY.
SGOV has the higher dividend yield at 3.85%, compared with 0.17% for FRTY.
FRTY is categorized as Mid Cap Growth Equities, while SGOV is Ultrashort Bond. They also come from different issuers: Alger Group Holdings LLC and iShares. Their fees differ too: 0.60% for FRTY and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.38 vs 1.19), 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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