IBMM vs. SGOV

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IBMM is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2024 Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. IBMM charges 0.18%/yr vs 0.09%/yr for SGOV.

Performance

IBMM vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.52%
• 6M: 1.79%
• 1Y: 3.95%
• 3Y*: 4.72%
• 5Y*: 3.54%
• 10Y*: —

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

IBMM vs. SGOV - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	1.15%

Return for Risk

IBMM vs. SGOV — Risk / Return Rank

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

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.

IBMM vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBMM	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	12.49	—

Drawdowns

IBMM vs. SGOV - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum SGOV drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IBMM and SGOV.

Drawdown Indicators

	IBMM	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-0.03%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	IBMM	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	0.20%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	0.24%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	0.24%	-0.24%

IBMM vs. SGOV - Expense Ratio Comparison

IBMM has a 0.18% 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

IBMM vs. SGOV - Dividend Comparison

IBMM 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
IBMM iShares iBonds Dec 2024 Term Muni Bond 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

Which ETF is better, IBMM or SGOV?

On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.18% for IBMM.

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

SGOV has the higher dividend yield at 3.86%, compared with 0.00% for IBMM.

What is the main difference between IBMM and SGOV?

IBMM is categorized as Municipal Bonds, while SGOV is Ultrashort Bond. IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.18% for IBMM and 0.09% for SGOV.