INDA vs. SGOV
INDA (iShares MSCI India ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India 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, INDA returned 2.32%/yr vs 3.54%/yr for SGOV. At a correlation of -0.04, they often move in opposite directions. INDA charges 0.69%/yr vs 0.09%/yr for SGOV.
Performance
INDA vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, INDA achieves a -12.38% return, which is significantly lower than SGOV's 1.51% return.
INDA
- 1D
- -1.39%
- 1M
- -2.61%
- YTD
- -12.38%
- 6M
- -11.33%
- 1Y
- -12.23%
- 3Y*
- 4.17%
- 5Y*
- 2.32%
- 10Y*
- 6.56%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
INDA vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -12.38% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 50.49% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between INDA and SGOV is -0.08, 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 | -0.08 |
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 29, 2020 | -0.04 |
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Return for Risk
INDA vs. SGOV — Risk / Return Rank
INDA
SGOV
INDA vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) 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.
| INDA | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.12 | ||
| Sortino ratioReturn per unit of downside risk | -276.84 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 195.55 | -194.68 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 398.20 | -398.86 |
| Martin ratioReturn relative to average drawdown | -1.59 | 4,462.00 | -4,463.59 |
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
| INDA | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | 20.28 | -21.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 14.73 | -14.58 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 12.48 | -12.25 |
Drawdowns
INDA vs. SGOV - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for INDA and SGOV.
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Drawdown Indicators
| INDA | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -0.03% | -45.04% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -0.01% | -18.68% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -0.01% | -22.71% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -0.03% | -22.69% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | — | — |
Current DrawdownCurrent decline from peak | -19.42% | 0.00% | -19.42% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -0.00% | -9.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.71% | 0.00% | +7.71% |
Volatility
INDA vs. SGOV - Volatility Comparison
iShares MSCI India ETF (INDA) has a higher volatility of 5.26% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that INDA'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
| INDA | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 0.05% | +5.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 0.13% | +12.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 0.20% | +14.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.37% | 0.24% | +15.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 0.24% | +20.88% |
INDA vs. SGOV - Expense Ratio Comparison
INDA has a 0.69% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
INDA vs. SGOV - Dividend Comparison
INDA 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 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 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
INDA and SGOV have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (5.26%) compared to SGOV (0.05%). In terms of maximum drawdown, INDA dropped -45.07% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs 2.32% for INDA. 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 3.54% return vs 2.32%. 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 0.69% for INDA.
SGOV has the higher dividend yield at 3.86%, compared with 0.00% for INDA.
INDA is categorized as Asia Pacific Equities, while SGOV is Ultrashort Bond. INDA tracks MSCI India Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.69% for INDA and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.84), 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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