GMOC vs. SGOV

Last updated Jun 6, 2026

GMOC (GMO Ultra-Short Income ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both Ultrashort Bond funds. GMOC is actively managed, while SGOV is passively managed. At a 0.05 correlation, their price movements are largely independent. GMOC charges 0.20%/yr vs 0.09%/yr for SGOV.

Performance

GMOC vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO Ultra-Short Income ETF (GMOC) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GMOC achieves a 1.65% return, which is significantly higher than SGOV's 1.55% return.

GMOC

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.65%
• 6M: 2.00%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.03%
• 1M: 0.31%
• YTD: 1.55%
• 6M: 1.79%
• 1Y: 3.97%
• 3Y*: 4.72%
• 5Y*: 3.54%
• 10Y*: —

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

GMOC vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
GMOC GMO Ultra-Short Income ETF	1.65%	0.76%
SGOV iShares 0-3 Month Treasury Bond ETF	1.55%	0.69%

Correlation

The correlation between GMOC and SGOV is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025	0.05

Return for Risk

GMOC vs. SGOV — Risk / Return Rank

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

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.

GMOC vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO Ultra-Short Income ETF (GMOC) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GMOC	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.34	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	8.33	12.50	-4.17

Drawdowns

GMOC vs. SGOV - Drawdown Comparison

The maximum GMOC drawdown since its inception was -0.13%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for GMOC and SGOV.

Drawdown Indicators

	GMOC	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.13%	-0.03%	-0.10%
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%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.01%	-0.00%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	GMOC	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.49%	0.20%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.49%	0.24%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.49%	0.24%	+0.25%

GMOC vs. SGOV - Expense Ratio Comparison

GMOC has a 0.20% 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

GMOC vs. SGOV - Dividend Comparison

GMOC's dividend yield for the trailing twelve months is around 2.33%, less than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GMOC GMO Ultra-Short Income ETF	2.33%	0.84%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both GMOC and SGOV in my portfolio?

GMOC 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.

Which ETF is better, GMOC 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, GMOC or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.20% for GMOC.

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

SGOV has the higher dividend yield at 3.85%, compared with 2.33% for GMOC.

What is the main difference between GMOC and SGOV?

They also come from different issuers: GMO and iShares. Their fees differ too: 0.20% for GMOC and 0.09% for SGOV.