ILCV vs. SGOV
ILCV (iShares Morningstar Value ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value 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, ILCV returned 12.42%/yr vs 3.66%/yr for SGOV. Their -0.01 correlation means they have often moved in opposite directions in the past. ILCV charges 0.04%/yr vs 0.09%/yr for SGOV.
Performance
ILCV vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, ILCV achieves a 12.42% return, which is significantly higher than SGOV's 2.11% return.
ILCV
- 1D
- 0.30%
- 1M
- 2.03%
- 6M
- 10.11%
- YTD
- 12.42%
- 1Y
- 29.26%
- 3Y*
- 17.48%
- 5Y*
- 12.42%
- 10Y*
- 11.90%
- ALL TIME*
- 8.73%
SGOV
- 1D
- 0.02%
- 1M
- 0.27%
- 6M
- 1.81%
- YTD
- 2.11%
- 1Y
- 3.83%
- 3Y*
- 4.64%
- 5Y*
- 3.66%
- 10Y*
- —
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.89M | $2.26M | $2.59M | |
| $1.83B | $1.81B | $2.03B |
ILCV vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ILCV iShares Morningstar Value ETF | 12.42% | 18.79% | 17.03% | 14.43% | -7.02% | 26.71% | 16.08% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.11% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between ILCV and SGOV is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.01 |
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Return for Risk
ILCV vs. SGOV — Risk / Return Rank
ILCV
SGOV
ILCV vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) 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.
| ILCV | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.03 | ||
| Sortino ratioReturn per unit of downside risk | -377.95 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 382.06 | -380.56 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 389.90 | -385.69 |
| Martin ratioReturn relative to average drawdown | 17.65 | 6,177.21 | -6,159.55 |
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Drawdowns
ILCV vs. SGOV - Drawdown Comparison
The maximum ILCV drawdown since its inception was -58.63%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for ILCV and SGOV.
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Drawdown Indicators
| ILCV | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -0.03% | -58.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -0.01% | -6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -0.01% | -14.94% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -0.03% | -18.55% |
Max Drawdown (10Y)Largest decline over 10 years | -35.53% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.26% | 0.00% | -9.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 0.00% | +1.56% |
Volatility
ILCV vs. SGOV - Volatility Comparison
iShares Morningstar Value ETF (ILCV) has a higher volatility of 2.91% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that ILCV'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
| ILCV | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 0.05% | +2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 7.33% | 0.13% | +7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.09% | 0.19% | +9.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 0.24% | +13.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 0.23% | +16.40% |
ILCV vs. SGOV - Expense Ratio Comparison
ILCV has a 0.04% expense ratio, which is lower than SGOV's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ILCV vs. SGOV - Dividend Comparison
ILCV's dividend yield for the trailing twelve months is around 1.55%, less than SGOV's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILCV iShares Morningstar Value ETF | 1.55% | 1.77% | 1.99% | 2.27% | 2.32% | 2.01% | 2.96% | 2.70% | 2.93% | 2.32% | 2.76% | 3.01% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.43% | 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
ILCV and SGOV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCV has higher volatility (2.91%) compared to SGOV (0.05%). In terms of maximum drawdown, ILCV dropped -58.63% vs SGOV's -0.03%.
On 5-year performance, ILCV leads with 12.42% vs 3.66% for SGOV. On fees, ILCV is cheaper at 0.04% 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, ILCV has performed better with a 12.42% return vs 3.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ILCV is cheaper with a 0.04% expense ratio, compared with 0.09% for SGOV.
SGOV has the higher dividend yield at 3.43%, compared with 1.55% for ILCV.
ILCV is categorized as Large Cap Value Equities, while SGOV is Ultrashort Bond. ILCV tracks Morningstar US Large-Mid Cap Broad Value Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.04% for ILCV and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.78 vs 2.75), 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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