GBIL vs. SGOV
GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - GBIL is a Government Bonds fund tracking the FTSE US Treasury 0-1 Year Composite Select 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, GBIL returned 3.35%/yr vs 3.58%/yr for SGOV. A 0.51 correlation means they provide meaningful diversification when combined. GBIL charges 0.12%/yr vs 0.09%/yr for SGOV.
Performance
GBIL vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, GBIL achieves a 1.58% return, which is significantly lower than SGOV's 1.72% return.
GBIL
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.58%
- 6M
- 1.66%
- 1Y
- 3.80%
- 3Y*
- 4.59%
- 5Y*
- 3.35%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.72%
- 6M
- 1.79%
- 1Y
- 3.92%
- 3Y*
- 4.69%
- 5Y*
- 3.58%
- 10Y*
- —
GBIL vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.58% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.01% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.72% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between GBIL and SGOV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.51 |
The correlation between GBIL and SGOV has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
GBIL vs. SGOV — Risk / Return Rank
GBIL
SGOV
GBIL vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) 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.
| GBIL | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.59 | ||
| Sortino ratioReturn per unit of downside risk | -169.83 | ||
| Omega ratioGain probability vs. loss probability | 42.48 | 194.05 | -151.58 |
| Calmar ratioReturn relative to maximum drawdown | 190.69 | 395.07 | -204.37 |
| Martin ratioReturn relative to average drawdown | 1,677.71 | 4,426.92 | -2,749.22 |
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Drawdowns
GBIL vs. SGOV - Drawdown Comparison
The maximum GBIL drawdown since its inception was -0.76%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for GBIL and SGOV.
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Drawdown Indicators
| GBIL | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.76% | -0.03% | -0.73% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.01% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.76% | -0.01% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -0.76% | -0.03% | -0.73% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.04% | -0.00% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.00% | 0.00% |
Volatility
GBIL vs. SGOV - Volatility Comparison
Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) has a higher volatility of 0.05% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that GBIL'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
| GBIL | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.04% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.14% | 0.13% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 0.19% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.58% | 0.24% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.47% | 0.24% | +0.23% |
GBIL vs. SGOV - Expense Ratio Comparison
GBIL has a 0.12% expense ratio, which is higher than SGOV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GBIL vs. SGOV - Dividend Comparison
GBIL's dividend yield for the trailing twelve months is around 3.74%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBIL and SGOV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBIL has higher volatility (0.05%) compared to SGOV (0.04%). In terms of maximum drawdown, GBIL dropped -0.76% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.58% vs 3.35% for GBIL. On fees, SGOV is cheaper at 0.09% per year. Their volatility is very similar. 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 3.58% return vs 3.35%. 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 0.12% for GBIL.
SGOV has the higher dividend yield at 3.85%, compared with 3.74% for GBIL.
GBIL is categorized as Government Bonds, while SGOV is Ultrashort Bond. GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.12% for GBIL and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs 16.73), 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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