IWO vs. SGOV
IWO (iShares Russell 2000 Growth ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IWO is a Small Cap Growth Equities fund tracking the Russell 2000 Growth 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, IWO returned 5.89%/yr vs 3.54%/yr for SGOV. At a correlation of -0.04, they often move in opposite directions. IWO charges 0.24%/yr vs 0.09%/yr for SGOV.
Performance
IWO vs. SGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IWO achieves a 18.58% return, which is significantly higher than SGOV's 1.52% return.
IWO
- 1D
- 1.57%
- 1M
- 3.99%
- YTD
- 18.58%
- 6M
- 15.22%
- 1Y
- 39.51%
- 3Y*
- 19.07%
- 5Y*
- 5.89%
- 10Y*
- 11.28%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
IWO vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IWO iShares Russell 2000 Growth ETF | 18.58% | 12.90% | 15.04% | 18.51% | -26.27% | 2.54% | 44.09% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between IWO 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 | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IWO vs. SGOV — Risk / Return Rank
IWO
SGOV
IWO vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 Growth ETF (IWO) 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.
| IWO | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.42 | ||
| Sortino ratioReturn per unit of downside risk | -273.14 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 195.55 | -194.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 398.20 | -395.53 |
| Martin ratioReturn relative to average drawdown | 9.58 | 4,462.00 | -4,452.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IWO | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 20.28 | -18.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 14.74 | -14.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 12.49 | -12.20 |
Drawdowns
IWO vs. SGOV - Drawdown Comparison
The maximum IWO drawdown since its inception was -60.11%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IWO and SGOV.
Loading charts...
Drawdown Indicators
| IWO | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.11% | -0.03% | -60.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -0.01% | -14.86% |
Max Drawdown (3Y)Largest decline over 3 years | -28.57% | -0.01% | -28.56% |
Max Drawdown (5Y)Largest decline over 5 years | -40.51% | -0.03% | -40.48% |
Max Drawdown (10Y)Largest decline over 10 years | -42.02% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -0.00% | -16.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 0.00% | +4.14% |
Volatility
IWO vs. SGOV - Volatility Comparison
iShares Russell 2000 Growth ETF (IWO) has a higher volatility of 6.54% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IWO'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.
Loading charts...
Volatility by Period
| IWO | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 0.05% | +6.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.72% | 0.13% | +15.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.33% | 0.20% | +21.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.49% | 0.24% | +24.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.13% | 0.24% | +23.89% |
IWO vs. SGOV - Expense Ratio Comparison
IWO has a 0.24% 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
IWO vs. SGOV - Dividend Comparison
IWO's dividend yield for the trailing twelve months is around 0.39%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWO iShares Russell 2000 Growth ETF | 0.39% | 0.56% | 0.80% | 0.73% | 0.73% | 0.32% | 0.44% | 0.71% | 0.76% | 0.73% | 0.97% | 0.89% |
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
IWO 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.
IWO has higher volatility (6.54%) compared to SGOV (0.05%). In terms of maximum drawdown, IWO dropped -60.11% vs SGOV's -0.03%.
On 5-year performance, IWO leads with 5.89% vs 3.54% 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 5-year period, IWO has performed better with a 5.89% return vs 3.54%. 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 0.24% for IWO.
SGOV has the higher dividend yield at 3.86%, compared with 0.39% for IWO.
IWO is categorized as Small Cap Growth Equities, while SGOV is Ultrashort Bond. IWO tracks Russell 2000 Growth Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.24% for IWO and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.86), 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.
Find the right allocation for IWO and SGOV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer