IBIT vs. SGOV
IBIT (iShares Bitcoin Trust ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past year, IBIT returned -38.74% vs 3.95% for SGOV. At a 0.03 correlation, their price movements are largely independent. IBIT charges 0.25%/yr vs 0.09%/yr for SGOV.
Performance
IBIT vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IBIT achieves a -25.48% return, which is significantly lower than SGOV's 1.51% return.
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
IBIT vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.05% |
Correlation
The correlation between IBIT and SGOV is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.03 |
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Return for Risk
IBIT vs. SGOV — Risk / Return Rank
IBIT
SGOV
IBIT vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.
| IBIT | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.17 | ||
| Sortino ratioReturn per unit of downside risk | -276.91 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 195.55 | -194.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 398.20 | -398.99 |
| Martin ratioReturn relative to average drawdown | -1.36 | 4,462.00 | -4,463.36 |
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
| IBIT | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.89 | 20.28 | -21.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 14.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 12.48 | -12.19 |
Drawdowns
IBIT vs. SGOV - Drawdown Comparison
The maximum IBIT drawdown since its inception was -49.36%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IBIT and SGOV.
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Drawdown Indicators
| IBIT | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.36% | -0.03% | -49.33% |
Max Drawdown (1Y)Largest decline over 1 year | -49.36% | -0.01% | -49.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -48.10% | 0.00% | -48.10% |
Average DrawdownAverage peak-to-trough decline | -16.02% | -0.00% | -16.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.44% | 0.00% | +28.44% |
Volatility
IBIT vs. SGOV - Volatility Comparison
iShares Bitcoin Trust ETF (IBIT) has a higher volatility of 9.50% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IBIT'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
| IBIT | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.50% | 0.05% | +9.45% |
Volatility (6M)Calculated over the trailing 6-month period | 34.44% | 0.13% | +34.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.73% | 0.20% | +43.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.19% | 0.24% | +49.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.19% | 0.24% | +49.95% |
IBIT vs. SGOV - Expense Ratio Comparison
IBIT has a 0.25% 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
IBIT vs. SGOV - Dividend Comparison
IBIT has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
IBIT and SGOV have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to SGOV (0.05%). In terms of maximum drawdown, IBIT dropped -49.36% vs SGOV's -0.03%.
On 1-year performance, SGOV leads with 3.95% vs -38.74% for IBIT. 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 1-year period, SGOV has performed better with a 3.95% return vs -38.74%. 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 0.25% for IBIT.
SGOV has the higher dividend yield at 3.86%, compared with 0.00% for IBIT.
IBIT is categorized as Cryptocurrency, while SGOV is Ultrashort Bond. IBIT tracks CME CF Bitcoin Reference Rate - New York Variant, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.25% for IBIT and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.89), 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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