GBDC vs. SGOV
GBDC (Golub Capital BDC, Inc.) is a stock, while SGOV (iShares 0-3 Month Treasury Bond ETF) is Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Over the past 5 years, GBDC returned 6.93%/yr vs 3.66%/yr for SGOV. Their 0.00 correlation means their historical movements had little consistent relationship.
Performance
GBDC vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, GBDC achieves a 2.46% return, which is significantly higher than SGOV's 2.13% return.
GBDC
- 1D
- 2.81%
- 1M
- 1.54%
- 6M
- 6.54%
- YTD
- 2.46%
- 1Y
- -0.24%
- 3Y*
- 9.68%
- 5Y*
- 6.93%
- 10Y*
- 6.03%
- ALL TIME*
- 8.43%
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) |
|---|---|---|---|
| $11.41M | $12.15M | $14.94M | |
| $1.99B | $1.87B | $2.06B |
GBDC vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 2.46% | -0.50% | 13.57% | 27.69% | -6.99% | 17.78% | 24.11% |
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 GBDC and SGOV is 0.05, 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. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
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
GBDC vs. SGOV — Risk / Return Rank
GBDC
SGOV
GBDC vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Golub Capital BDC, Inc. (GBDC) 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.
| GBDC | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.79 | ||
| Sortino ratioReturn per unit of downside risk | -380.12 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 380.49 | -379.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 388.26 | -388.28 |
| Martin ratioReturn relative to average drawdown | -0.04 | 6,151.27 | -6,151.31 |
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Drawdowns
GBDC vs. SGOV - Drawdown Comparison
The maximum GBDC drawdown since its inception was -47.30%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for GBDC and SGOV.
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Drawdown Indicators
| GBDC | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.30% | -0.03% | -47.27% |
Max Drawdown (1Y)Largest decline over 1 year | -15.13% | -0.01% | -15.12% |
Max Drawdown (3Y)Largest decline over 3 years | -18.20% | -0.01% | -18.19% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -0.03% | -19.25% |
Max Drawdown (10Y)Largest decline over 10 years | -47.30% | — | — |
Current DrawdownCurrent decline from peak | -5.14% | 0.00% | -5.14% |
Average DrawdownAverage peak-to-trough decline | -6.15% | 0.00% | -6.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.13% | 0.00% | +6.13% |
Volatility
GBDC vs. SGOV - Volatility Comparison
Golub Capital BDC, Inc. (GBDC) has a higher volatility of 5.15% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that GBDC'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
| GBDC | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 0.04% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 0.13% | +16.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 0.19% | +19.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 0.24% | +17.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.65% | 0.23% | +21.42% |
Dividends
GBDC vs. SGOV - Dividend Comparison
GBDC's dividend yield for the trailing twelve months is around 10.92%, more than SGOV's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBDC Golub Capital BDC, Inc. | 10.92% | 11.50% | 12.73% | 10.00% | 9.35% | 7.58% | 8.44% | 7.70% | 8.49% | 7.47% | 8.32% | 7.70% |
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
GBDC and SGOV have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBDC has higher volatility (5.15%) compared to SGOV (0.04%). In terms of maximum drawdown, GBDC dropped -47.30% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.78 vs -0.01), 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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