INDY vs. SGOV
INDY (iShares India 50 ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - INDY is a Asia Pacific Equities fund tracking the S&P CNX Nifty 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, INDY returned 1.15%/yr vs 3.54%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. INDY charges 0.94%/yr vs 0.09%/yr for SGOV.
Performance
INDY vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, INDY achieves a -15.38% return, which is significantly lower than SGOV's 1.51% return.
INDY
- 1D
- -1.35%
- 1M
- -3.23%
- YTD
- -15.38%
- 6M
- -14.03%
- 1Y
- -14.69%
- 3Y*
- 1.39%
- 5Y*
- 1.15%
- 10Y*
- 6.14%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
INDY vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -15.38% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 51.47% |
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 INDY 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 | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.03 |
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Return for Risk
INDY vs. SGOV — Risk / Return Rank
INDY
SGOV
INDY vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) 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.
| INDY | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.32 | ||
| Sortino ratioReturn per unit of downside risk | -277.17 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 195.55 | -194.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 398.20 | -398.98 |
| Martin ratioReturn relative to average drawdown | -1.78 | 4,462.00 | -4,463.78 |
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
| INDY | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 20.28 | -21.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 14.73 | -14.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 12.48 | -12.27 |
Drawdowns
INDY vs. SGOV - Drawdown Comparison
The maximum INDY drawdown since its inception was -44.74%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for INDY and SGOV.
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Drawdown Indicators
| INDY | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.74% | -0.03% | -44.71% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -0.01% | -18.94% |
Max Drawdown (3Y)Largest decline over 3 years | -22.40% | -0.01% | -22.39% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -0.03% | -22.37% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | — | — |
Current DrawdownCurrent decline from peak | -21.00% | 0.00% | -21.00% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -0.00% | -12.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.25% | 0.00% | +8.25% |
Volatility
INDY vs. SGOV - Volatility Comparison
iShares India 50 ETF (INDY) has a higher volatility of 4.79% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that INDY'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
| INDY | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 0.05% | +4.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 0.13% | +12.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 0.20% | +13.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 0.24% | +14.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 0.24% | +19.34% |
INDY vs. SGOV - Expense Ratio Comparison
INDY has a 0.94% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
INDY vs. SGOV - Dividend Comparison
INDY's dividend yield for the trailing twelve months is around 9.58%, more than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | 9.58% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
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
INDY 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.
INDY has higher volatility (4.79%) compared to SGOV (0.05%). In terms of maximum drawdown, INDY dropped -44.74% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs 1.15% for INDY. 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 1.15%. 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 0.94% for INDY.
INDY has the higher dividend yield at 9.58%, compared with 3.86% for SGOV.
INDY is categorized as Asia Pacific Equities, while SGOV is Ultrashort Bond. INDY tracks S&P CNX Nifty Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.94% for INDY and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -1.04), 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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