IGOV vs. SGOV
IGOV (iShares International Treasury Bond ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IGOV is a International Government Bonds fund tracking the FTSE World Government Bond Index - Developed Markets Capped Select 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, IGOV returned -4.45%/yr vs 3.62%/yr for SGOV. At a correlation of -0.02, they often move in opposite directions. IGOV charges 0.35%/yr vs 0.09%/yr for SGOV.
Performance
IGOV vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IGOV achieves a -1.95% return, which is significantly lower than SGOV's 1.95% return.
IGOV
- 1D
- -0.37%
- 1M
- -2.09%
- 6M
- -1.61%
- YTD
- -1.95%
- 1Y
- -1.79%
- 3Y*
- 0.93%
- 5Y*
- -4.45%
- 10Y*
- -1.49%
SGOV
- 1D
- 0.01%
- 1M
- 0.30%
- 6M
- 1.80%
- YTD
- 1.95%
- 1Y
- 3.87%
- 3Y*
- 4.66%
- 5Y*
- 3.62%
- 10Y*
- —
IGOV vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | -1.95% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 11.48% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.95% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between IGOV and SGOV is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.02 |
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Return for Risk
IGOV vs. SGOV — Risk / Return Rank
IGOV
SGOV
IGOV vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Treasury Bond ETF (IGOV) 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.
| IGOV | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.06 | ||
| Sortino ratioReturn per unit of downside risk | -383.08 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 383.06 | -382.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 390.94 | -391.26 |
| Martin ratioReturn relative to average drawdown | -0.67 | 6,193.70 | -6,194.36 |
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Drawdowns
IGOV vs. SGOV - Drawdown Comparison
The maximum IGOV drawdown since its inception was -35.88%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IGOV and SGOV.
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Drawdown Indicators
| IGOV | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.88% | -0.03% | -35.85% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | -0.01% | -5.69% |
Max Drawdown (3Y)Largest decline over 3 years | -10.65% | -0.01% | -10.64% |
Max Drawdown (5Y)Largest decline over 5 years | -32.92% | -0.03% | -32.89% |
Max Drawdown (10Y)Largest decline over 10 years | -35.88% | — | — |
Current DrawdownCurrent decline from peak | -25.11% | 0.00% | -25.11% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -0.00% | -11.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 0.00% | +2.69% |
Volatility
IGOV vs. SGOV - Volatility Comparison
iShares International Treasury Bond ETF (IGOV) has a higher volatility of 1.83% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IGOV'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
| IGOV | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 0.05% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 6.40% | 0.13% | +6.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.07% | 0.19% | +7.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.97% | 0.24% | +9.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.59% | 0.24% | +8.35% |
IGOV vs. SGOV - Expense Ratio Comparison
IGOV has a 0.35% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IGOV vs. SGOV - Dividend Comparison
IGOV's dividend yield for the trailing twelve months is around 1.44%, less than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGOV iShares International Treasury Bond ETF | 1.44% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.80% | 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
IGOV and SGOV have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGOV has higher volatility (1.83%) compared to SGOV (0.05%). In terms of maximum drawdown, IGOV dropped -35.88% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.62% vs -4.45% for IGOV. 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, SGOV has performed better with a 3.62% return vs -4.45%. 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 IGOV.
SGOV has the higher dividend yield at 3.80%, compared with 1.44% for IGOV.
IGOV is categorized as International Government Bonds, while SGOV is Ultrashort Bond. IGOV tracks FTSE World Government Bond Index - Developed Markets Capped Select Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.35% for IGOV and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.84 vs -0.22), 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.
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