ISCMF vs. SGOV
ISCMF (iShares Diversified Commodity Swap UCITS ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - ISCMF is a Commodities fund tracking the Bloomberg Commodity 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 3 years, ISCMF returned 15.20%/yr vs 4.72%/yr for SGOV. At a 0.02 correlation, their price movements are largely independent. ISCMF charges 0.19%/yr vs 0.09%/yr for SGOV.
Performance
ISCMF vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, ISCMF achieves a 22.87% return, which is significantly higher than SGOV's 1.51% return.
ISCMF
- 1D
- 0.00%
- 1M
- -0.67%
- YTD
- 22.87%
- 6M
- 27.76%
- 1Y
- 37.85%
- 3Y*
- 15.20%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
ISCMF vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.08% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.56% |
Correlation
The correlation between ISCMF and SGOV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2022 | 0.02 |
The correlation between ISCMF and SGOV shifts across timeframes, from 0.02 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ISCMF vs. SGOV — Risk / Return Rank
ISCMF
SGOV
ISCMF vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (ISCMF) 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.
| ISCMF | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.23 | ||
| Sortino ratioReturn per unit of downside risk | -271.95 | ||
| Omega ratioGain probability vs. loss probability | 2.53 | 195.55 | -193.02 |
| Calmar ratioReturn relative to maximum drawdown | 6.69 | 398.20 | -391.51 |
| Martin ratioReturn relative to average drawdown | 15.68 | 4,462.00 | -4,446.32 |
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
| ISCMF | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 20.28 | -18.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 14.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 12.48 | -12.03 |
Drawdowns
ISCMF vs. SGOV - Drawdown Comparison
The maximum ISCMF drawdown since its inception was -25.42%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for ISCMF and SGOV.
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Drawdown Indicators
| ISCMF | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -0.03% | -25.39% |
Max Drawdown (1Y)Largest decline over 1 year | -5.69% | -0.01% | -5.68% |
Max Drawdown (3Y)Largest decline over 3 years | -7.62% | -0.01% | -7.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -5.26% | 0.00% | -5.26% |
Average DrawdownAverage peak-to-trough decline | -13.43% | -0.00% | -13.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 0.00% | +2.42% |
Volatility
ISCMF vs. SGOV - Volatility Comparison
iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a higher volatility of 7.14% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that ISCMF'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
| ISCMF | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 0.05% | +7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.90% | 0.13% | +15.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 0.20% | +18.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.38% | 0.24% | +14.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 0.24% | +14.14% |
ISCMF vs. SGOV - Expense Ratio Comparison
ISCMF has a 0.19% expense ratio, which is higher than SGOV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ISCMF vs. SGOV - Dividend Comparison
ISCMF 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 |
|---|---|---|---|---|---|---|---|
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
ISCMF and SGOV have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (7.14%) compared to SGOV (0.05%). In terms of maximum drawdown, ISCMF dropped -25.42% vs SGOV's -0.03%.
On 3-year performance, ISCMF leads with 15.20% vs 4.72% for SGOV. 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 3-year period, ISCMF has performed better with a 15.20% return vs 4.72%. 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 0.19% for ISCMF.
SGOV has the higher dividend yield at 3.86%, compared with 0.00% for ISCMF.
ISCMF is categorized as Commodities, while SGOV is Ultrashort Bond. ISCMF tracks Bloomberg Commodity Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.19% for ISCMF and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 2.05), 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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