INDL vs. SGOV
INDL (Direxion Daily India Bull 3x Shares) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - INDL is a Leveraged Equities fund tracking the Indus India Index (300%), 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, INDL returned -2.48%/yr vs 3.56%/yr for SGOV. At a correlation of -0.05, they often move in opposite directions. INDL charges 1.33%/yr vs 0.09%/yr for SGOV.
Performance
INDL vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, INDL achieves a -23.37% return, which is significantly lower than SGOV's 1.61% return.
INDL
- 1D
- 2.23%
- 1M
- 0.60%
- YTD
- -23.37%
- 6M
- -20.84%
- 1Y
- -28.42%
- 3Y*
- -0.01%
- 5Y*
- -2.48%
- 10Y*
- 0.22%
SGOV
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.95%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
INDL vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | -23.37% | -3.21% | 7.56% | 26.06% | -22.88% | 40.26% | 169.15% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between INDL and SGOV is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.05 |
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Return for Risk
INDL vs. SGOV — Risk / Return Rank
INDL
SGOV
INDL vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily India Bull 3x Shares (INDL) 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.
| INDL | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.24 | ||
| Sortino ratioReturn per unit of downside risk | -277.05 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 195.55 | -194.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 398.20 | -398.95 |
| Martin ratioReturn relative to average drawdown | -1.55 | 4,461.98 | -4,463.53 |
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Drawdowns
INDL vs. SGOV - Drawdown Comparison
The maximum INDL drawdown since its inception was -95.67%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for INDL and SGOV.
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Drawdown Indicators
| INDL | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.67% | -0.03% | -95.64% |
Max Drawdown (1Y)Largest decline over 1 year | -37.82% | -0.01% | -37.81% |
Max Drawdown (3Y)Largest decline over 3 years | -47.64% | -0.01% | -47.63% |
Max Drawdown (5Y)Largest decline over 5 years | -47.64% | -0.03% | -47.61% |
Max Drawdown (10Y)Largest decline over 10 years | -91.96% | — | — |
Current DrawdownCurrent decline from peak | -78.43% | 0.00% | -78.43% |
Average DrawdownAverage peak-to-trough decline | -66.36% | -0.00% | -66.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.35% | 0.00% | +18.35% |
Volatility
INDL vs. SGOV - Volatility Comparison
Direxion Daily India Bull 3x Shares (INDL) has a higher volatility of 8.12% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that INDL'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
| INDL | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 0.05% | +8.07% |
Volatility (6M)Calculated over the trailing 6-month period | 25.59% | 0.13% | +25.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.71% | 0.20% | +29.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.62% | 0.24% | +30.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.69% | 0.24% | +52.45% |
INDL vs. SGOV - Expense Ratio Comparison
INDL has a 1.33% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
INDL vs. SGOV - Dividend Comparison
INDL's dividend yield for the trailing twelve months is around 1.64%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | 1.64% | 1.42% | 2.79% | 1.65% | 0.09% | 2.35% | 0.00% | 0.68% | 0.18% | 0.31% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INDL and SGOV have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDL has higher volatility (8.12%) compared to SGOV (0.05%). In terms of maximum drawdown, INDL dropped -95.67% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.56% vs -2.48% for INDL. 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 3.56% return vs -2.48%. 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 1.33% for INDL.
SGOV has the higher dividend yield at 3.85%, compared with 1.64% for INDL.
INDL is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. INDL tracks Indus India Index (300%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.33% for INDL and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.96), 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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