ISTM vs. SGOV

Last updated Jun 3, 2026

ISTM (iShares Strategic Metals ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - ISTM is a Metals fund tracking the ICE Strategic Re-Industrialization Metals 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 year, ISTM returned 61.67% vs 3.95% for SGOV. At a correlation of -0.02, they often move in opposite directions. ISTM charges 0.49%/yr vs 0.09%/yr for SGOV.

Performance

ISTM vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Strategic Metals ETF (ISTM) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISTM achieves a 15.63% return, which is significantly higher than SGOV's 1.51% return.

ISTM

• 1D: 1.23%
• 1M: 4.96%
• YTD: 15.63%
• 6M: 28.78%
• 1Y: 61.67%
• 3Y*: —
• 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*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ISTM vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISTM iShares Strategic Metals ETF	15.63%	54.07%	6.95%	2.69%
SGOV iShares 0-3 Month Treasury Bond ETF	1.51%	4.24%	5.27%	1.37%

Correlation

The correlation between ISTM and SGOV is -0.07, 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	-0.07
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	-0.02

Return for Risk

ISTM vs. SGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ISTM

ISTM Risk / Return Rank: 53
ISTM Sharpe Ratio Rank: 59
ISTM Sortino Ratio Rank: 45
ISTM Omega Ratio Rank: 59
ISTM Calmar Ratio Rank: 59
ISTM Martin Ratio Rank: 45

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISTM vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Strategic Metals ETF (ISTM) 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.

	ISTM	SGOV	Difference
Sharpe ratio Return per unit of total volatility	2.03	20.28	-18.25
Sortino ratio Return per unit of downside risk	2.29	275.69	-273.40
Omega ratio Gain probability vs. loss probability	1.37	195.55	-194.18
Calmar ratio Return relative to maximum drawdown	2.99	398.20	-395.21
Martin ratio Return relative to average drawdown	7.52	4,462.00	-4,454.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISTM vs. SGOV - Sharpe Ratio Comparison

The current ISTM Sharpe Ratio is 2.03, which is lower than the SGOV Sharpe Ratio of 20.28. The chart below compares the historical Sharpe Ratios of ISTM and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ISTM	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	20.28	-18.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	12.48	-11.29

Drawdowns

ISTM vs. SGOV - Drawdown Comparison

The maximum ISTM drawdown since its inception was -22.20%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for ISTM and SGOV.

Drawdown Indicators

	ISTM	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-22.20%	-0.03%	-22.17%
Max Drawdown (1Y) Largest decline over 1 year	-22.20%	-0.01%	-22.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	-9.08%	0.00%	-9.08%
Average Drawdown Average peak-to-trough decline	-6.48%	-0.00%	-6.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.82%	0.00%	+8.82%

Volatility

ISTM vs. SGOV - Volatility Comparison

iShares Strategic Metals ETF (ISTM) has a higher volatility of 8.64% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that ISTM'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.

Volatility by Period

	ISTM	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.64%	0.05%	+8.59%
Volatility (6M) Calculated over the trailing 6-month period	27.98%	0.13%	+27.85%
Volatility (1Y) Calculated over the trailing 1-year period	30.70%	0.20%	+30.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.08%	0.24%	+23.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.08%	0.24%	+23.84%

ISTM vs. SGOV - Expense Ratio Comparison

ISTM has a 0.49% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

ISTM vs. SGOV - Dividend Comparison

ISTM's dividend yield for the trailing twelve months is around 12.78%, more than SGOV's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ISTM iShares Strategic Metals ETF	12.78%	14.78%	29.62%	1.02%	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

Can I hold both ISTM and SGOV in my portfolio?

ISTM and SGOV have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISTM or SGOV?

ISTM has higher volatility (8.64%) compared to SGOV (0.05%). In terms of maximum drawdown, ISTM dropped -22.20% vs SGOV's -0.03%.

Which ETF is better, ISTM or SGOV?

On 1-year performance, ISTM leads with 61.67% vs 3.95% 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.

Which ETF has performed better, ISTM or SGOV?

Over the 1-year period, ISTM has performed better with a 61.67% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISTM or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.49% for ISTM.

Which ETF pays a higher dividend yield, ISTM or SGOV?

ISTM has the higher dividend yield at 12.78%, compared with 3.86% for SGOV.

What is the main difference between ISTM and SGOV?

ISTM is categorized as Metals, while SGOV is Ultrashort Bond. ISTM tracks ICE Strategic Re-Industrialization Metals Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.49% for ISTM and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.28 vs 2.03), 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.