IAK vs. SGOV
IAK (iShares U.S. Insurance ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance 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, IAK returned 11.50%/yr vs 3.54%/yr for SGOV. At a correlation of -0.04, they often move in opposite directions. IAK charges 0.43%/yr vs 0.09%/yr for SGOV.
Performance
IAK vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IAK achieves a -4.56% return, which is significantly lower than SGOV's 1.51% return.
IAK
- 1D
- -0.88%
- 1M
- -2.27%
- YTD
- -4.56%
- 6M
- -1.81%
- 1Y
- -4.16%
- 3Y*
- 16.73%
- 5Y*
- 11.50%
- 10Y*
- 11.66%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
IAK vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | -4.56% | 9.50% | 28.25% | 11.28% | 11.33% | 26.84% | 25.95% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between IAK and SGOV is -0.07, 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 (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.04 |
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Return for Risk
IAK vs. SGOV — Risk / Return Rank
IAK
SGOV
IAK vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) 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.
| IAK | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.56 | ||
| Sortino ratioReturn per unit of downside risk | -275.98 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 195.55 | -194.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 398.20 | -398.75 |
| Martin ratioReturn relative to average drawdown | -1.14 | 4,462.00 | -4,463.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAK | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.28 | 20.28 | -20.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 14.73 | -14.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 12.48 | -12.23 |
Drawdowns
IAK vs. SGOV - Drawdown Comparison
The maximum IAK drawdown since its inception was -77.38%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IAK and SGOV.
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Drawdown Indicators
| IAK | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.38% | -0.03% | -77.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -0.01% | -7.61% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -0.01% | -11.57% |
Max Drawdown (5Y)Largest decline over 5 years | -14.76% | -0.03% | -14.73% |
Max Drawdown (10Y)Largest decline over 10 years | -44.95% | — | — |
Current DrawdownCurrent decline from peak | -5.82% | 0.00% | -5.82% |
Average DrawdownAverage peak-to-trough decline | -16.13% | -0.00% | -16.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 0.00% | +3.96% |
Volatility
IAK vs. SGOV - Volatility Comparison
iShares U.S. Insurance ETF (IAK) has a higher volatility of 3.82% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IAK'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
| IAK | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 0.05% | +3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 0.13% | +9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.77% | 0.20% | +14.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.07% | 0.24% | +17.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 0.24% | +20.65% |
IAK vs. SGOV - Expense Ratio Comparison
IAK has a 0.43% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IAK vs. SGOV - Dividend Comparison
IAK's dividend yield for the trailing twelve months is around 2.76%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.76% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 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
IAK and SGOV have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAK has higher volatility (3.82%) compared to SGOV (0.05%). In terms of maximum drawdown, IAK dropped -77.38% vs SGOV's -0.03%.
On 5-year performance, IAK leads with 11.50% vs 3.54% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAK has performed better with a 11.50% return vs 3.54%. 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 0.43% for IAK.
SGOV has the higher dividend yield at 3.86%, compared with 2.76% for IAK.
IAK is categorized as Financials Equities, while SGOV is Ultrashort Bond. IAK tracks Dow Jones U.S. Select Insurance Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.43% for IAK and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.28), 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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