IBHF vs. SGOV

Last updated Jun 23, 2026

IBHF (iShares iBonds 2026 Term High Yield and Income ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IBHF is a Corporate Bonds fund actively managed by iShares, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. IBHF is actively managed, while SGOV is passively managed. Over the past 5 years, IBHF returned 3.98%/yr vs 3.58%/yr for SGOV. At a 0.01 correlation, their price movements are largely independent. IBHF charges 0.35%/yr vs 0.09%/yr for SGOV.

Performance

IBHF vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds 2026 Term High Yield and Income ETF (IBHF) 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, IBHF achieves a 0.54% return, which is significantly lower than SGOV's 1.70% return.

IBHF

• 1D: -0.09%
• 1M: -0.14%
• YTD: 0.54%
• 6M: 0.71%
• 1Y: 4.22%
• 3Y*: 7.36%
• 5Y*: 3.98%
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.27%
• YTD: 1.70%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: 4.68%
• 5Y*: 3.58%
• 10Y*: —

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

IBHF vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IBHF iShares iBonds 2026 Term High Yield and Income ETF	0.54%	6.60%	8.55%	10.40%	-6.66%	4.43%	2.60%
SGOV iShares 0-3 Month Treasury Bond ETF	1.70%	4.24%	5.27%	5.12%	1.58%	0.04%	0.01%

Correlation

The correlation between IBHF and SGOV is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Nov 12, 2020	0.01

Return for Risk

IBHF vs. SGOV — Risk / Return Rank

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

IBHF

IBHF Risk / Return Rank: 84
IBHF Sharpe Ratio Rank: 71
IBHF Sortino Ratio Rank: 88
IBHF Omega Ratio Rank: 82
IBHF Calmar Ratio Rank: 91
IBHF Martin Ratio Rank: 87

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.

IBHF vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2026 Term High Yield and Income ETF (IBHF) 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.

	IBHF	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	2.22	20.38	-18.16
Sortino ratio: Return per unit of downside risk	3.81	274.27	-270.45
Omega ratio: Gain probability vs. loss probability	1.47	194.55	-193.09
Calmar ratio: Return relative to maximum drawdown	5.62	396.11	-390.49
Martin ratio: Return relative to average drawdown	18.04	4,438.60	-4,420.56

IBHF vs. SGOV - Sharpe Ratio Comparison

The current IBHF Sharpe Ratio is 2.22, which is lower than the SGOV Sharpe Ratio of 20.38. The chart below compares the historical Sharpe Ratios of IBHF and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBHF vs. SGOV - Drawdown Comparison

The maximum IBHF drawdown since its inception was -11.19%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IBHF and SGOV.

Drawdown Indicators

	IBHF	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-11.19%	-0.03%	-11.16%
Max Drawdown (1Y) Largest decline over 1 year	-0.75%	-0.01%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-2.53%	-0.01%	-2.52%
Max Drawdown (5Y) Largest decline over 5 years	-11.19%	-0.03%	-11.16%
Current Drawdown Current decline from peak	-0.45%	0.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-1.79%	-0.00%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.00%	+0.23%

Volatility

IBHF vs. SGOV - Volatility Comparison

iShares iBonds 2026 Term High Yield and Income ETF (IBHF) has a higher volatility of 0.47% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that IBHF'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.

Volatility by Period

	IBHF	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.06%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	1.22%	0.13%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	1.91%	0.19%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.79%	0.24%	+5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.64%	0.24%	+5.40%

IBHF vs. SGOV - Expense Ratio Comparison

IBHF has a 0.35% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

IBHF vs. SGOV - Dividend Comparison

IBHF's dividend yield for the trailing twelve months is around 6.53%, more than SGOV's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IBHF iShares iBonds 2026 Term High Yield and Income ETF	6.53%	6.73%	7.17%	7.33%	6.01%	4.55%	0.61%
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 IBHF and SGOV in my portfolio?

IBHF and SGOV have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBHF or SGOV?

IBHF has higher volatility (0.47%) compared to SGOV (0.06%). In terms of maximum drawdown, IBHF dropped -11.19% vs SGOV's -0.03%.

Which ETF is better, IBHF or SGOV?

On 5-year performance, IBHF leads with 3.98% vs 3.58% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBHF or SGOV?

Over the 5-year period, IBHF has performed better with a 3.98% return vs 3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBHF or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.35% for IBHF.

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

IBHF has the higher dividend yield at 6.53%, compared with 3.85% for SGOV.

What is the main difference between IBHF and SGOV?

IBHF is categorized as Corporate Bonds, while SGOV is Ultrashort Bond. Their fees differ too: 0.35% for IBHF and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.38 vs 2.22), 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.