IBHI vs. SGOV
IBHI (iShares iBonds 2029 Term High Yield and Income ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IBHI is a High Yield Bonds fund tracking the Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 3 years, IBHI returned 9.14%/yr vs 4.69%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. IBHI charges 0.35%/yr vs 0.09%/yr for SGOV.
Performance
IBHI vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IBHI achieves a 1.56% return, which is significantly lower than SGOV's 1.72% return.
IBHI
- 1D
- -0.13%
- 1M
- 0.37%
- YTD
- 1.56%
- 6M
- 1.60%
- 1Y
- 6.22%
- 3Y*
- 9.14%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.72%
- 6M
- 1.79%
- 1Y
- 3.92%
- 3Y*
- 4.69%
- 5Y*
- 3.58%
- 10Y*
- —
IBHI vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 1.56% | 7.88% | 8.33% | 14.21% | -8.52% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.72% | 4.24% | 5.27% | 5.12% | 1.57% |
Correlation
The correlation between IBHI and SGOV is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | -0.01 |
The correlation between IBHI and SGOV shifts across timeframes, from -0.12 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBHI vs. SGOV — Risk / Return Rank
IBHI
SGOV
IBHI vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2029 Term High Yield and Income ETF (IBHI) 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.
| IBHI | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.67 | ||
| Sortino ratioReturn per unit of downside risk | -271.02 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 194.05 | -192.74 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 395.07 | -392.11 |
| Martin ratioReturn relative to average drawdown | 12.93 | 4,426.92 | -4,414.00 |
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Drawdowns
IBHI vs. SGOV - Drawdown Comparison
The maximum IBHI drawdown since its inception was -13.65%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IBHI and SGOV.
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Drawdown Indicators
| IBHI | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.65% | -0.03% | -13.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -0.01% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -5.73% | -0.01% | -5.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -0.23% | 0.00% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.00% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.48% | 0.00% | +0.48% |
Volatility
IBHI vs. SGOV - Volatility Comparison
iShares iBonds 2029 Term High Yield and Income ETF (IBHI) has a higher volatility of 0.77% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that IBHI'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
| IBHI | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.04% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 0.13% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.78% | 0.19% | +3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.93% | 0.24% | +7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.93% | 0.24% | +7.69% |
IBHI vs. SGOV - Expense Ratio Comparison
IBHI has a 0.35% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IBHI vs. SGOV - Dividend Comparison
IBHI's dividend yield for the trailing twelve months is around 6.69%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBHI iShares iBonds 2029 Term High Yield and Income ETF | 6.69% | 6.79% | 6.66% | 6.48% | 5.26% | 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
IBHI and SGOV have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBHI has higher volatility (0.77%) compared to SGOV (0.04%). In terms of maximum drawdown, IBHI dropped -13.65% vs SGOV's -0.03%.
On 3-year performance, IBHI leads with 9.14% vs 4.69% for SGOV. 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 3-year period, IBHI has performed better with a 9.14% return vs 4.69%. 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 0.35% for IBHI.
IBHI has the higher dividend yield at 6.69%, compared with 3.85% for SGOV.
IBHI is categorized as High Yield Bonds, while SGOV is Ultrashort Bond. IBHI tracks Bloomberg 2029 Term High Yield and Income Index - Benchmark TR Gross, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.35% for IBHI and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs 1.65), 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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