GOVZ vs. SGOV
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS 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, GOVZ returned -14.55%/yr vs 3.66%/yr for SGOV. Their 0.01 correlation means their historical movements had little consistent relationship. GOVZ charges 0.15%/yr vs 0.09%/yr for SGOV.
Performance
GOVZ vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -6.61% return, which is significantly lower than SGOV's 2.13% return.
GOVZ
- 1D
- 0.34%
- 1M
- -6.59%
- 6M
- -5.59%
- YTD
- -6.61%
- 1Y
- -7.04%
- 3Y*
- -6.86%
- 5Y*
- -14.55%
- 10Y*
- —
- ALL TIME*
- -14.11%
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) |
|---|---|---|---|
| $6.32M | $6.57M | $8.03M | |
| $1.99B | $1.87B | $2.06B |
GOVZ vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -6.61% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.13% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.02% |
Correlation
The correlation between GOVZ and SGOV is -0.08, 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. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.02 |
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Return for Risk
GOVZ vs. SGOV — Risk / Return Rank
GOVZ
SGOV
GOVZ vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.
| GOVZ | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.24 | ||
| Sortino ratioReturn per unit of downside risk | -380.79 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 380.49 | -379.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 388.26 | -388.74 |
| Martin ratioReturn relative to average drawdown | -0.96 | 6,151.27 | -6,152.23 |
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Drawdowns
GOVZ vs. SGOV - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for GOVZ and SGOV.
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Drawdown Indicators
| GOVZ | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -0.03% | -59.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -0.01% | -14.86% |
Max Drawdown (3Y)Largest decline over 3 years | -26.42% | -0.01% | -26.41% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -0.03% | -57.60% |
Current DrawdownCurrent decline from peak | -58.96% | 0.00% | -58.96% |
Average DrawdownAverage peak-to-trough decline | -40.35% | 0.00% | -40.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.33% | 0.00% | +7.33% |
Volatility
GOVZ vs. SGOV - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.53% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that GOVZ'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
| GOVZ | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 0.04% | +4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 0.13% | +10.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 0.19% | +15.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 0.24% | +23.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.17% | 0.23% | +22.94% |
GOVZ vs. SGOV - Expense Ratio Comparison
GOVZ has a 0.15% 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
GOVZ vs. SGOV - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.53%, more than SGOV's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.53% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.75% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
GOVZ and SGOV have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.53%) compared to SGOV (0.04%). In terms of maximum drawdown, GOVZ dropped -59.65% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.66% vs -14.55% for GOVZ. 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 -14.55%. 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 0.15% for GOVZ.
GOVZ has the higher dividend yield at 5.53%, compared with 3.75% for SGOV.
GOVZ is categorized as Government Bonds, while SGOV is Ultrashort Bond. GOVZ tracks ICE BofA Long US Treasury Principal STRIPS Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.15% for GOVZ and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.78 vs -0.46), 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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