IWP vs. SGOV
IWP (iShares Russell Mid-Cap Growth ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap 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, IWP returned 5.09%/yr vs 3.63%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. IWP charges 0.23%/yr vs 0.09%/yr for SGOV.
Performance
IWP vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 0.63% return, which is significantly lower than SGOV's 1.98% return.
IWP
- 1D
- -0.56%
- 1M
- -2.15%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.25%
- 3Y*
- 11.59%
- 5Y*
- 5.09%
- 10Y*
- 11.74%
SGOV
- 1D
- 0.03%
- 1M
- 0.32%
- 6M
- 1.79%
- YTD
- 1.98%
- 1Y
- 3.89%
- 3Y*
- 4.67%
- 5Y*
- 3.63%
- 10Y*
- —
IWP vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.02% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.98% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between IWP and SGOV is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.01 |
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Return for Risk
IWP vs. SGOV — Risk / Return Rank
IWP
SGOV
IWP vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) 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.
| IWP | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.96 | ||
| Sortino ratioReturn per unit of downside risk | -384.80 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 385.05 | -384.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 393.03 | -393.11 |
| Martin ratioReturn relative to average drawdown | -0.24 | 6,226.73 | -6,226.97 |
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Drawdowns
IWP vs. SGOV - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IWP and SGOV.
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Drawdown Indicators
| IWP | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -0.03% | -56.89% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -0.01% | -14.78% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | -0.01% | -25.19% |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | -0.03% | -38.59% |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | — | — |
Current DrawdownCurrent decline from peak | -6.02% | 0.00% | -6.02% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -0.00% | -9.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.17% | 0.00% | +5.17% |
Volatility
IWP vs. SGOV - Volatility Comparison
iShares Russell Mid-Cap Growth ETF (IWP) has a higher volatility of 5.15% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IWP'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
| IWP | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 0.05% | +5.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 0.13% | +13.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.33% | 0.19% | +17.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.46% | 0.24% | +22.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 0.24% | +21.45% |
IWP vs. SGOV - Expense Ratio Comparison
IWP has a 0.23% 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
IWP vs. SGOV - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.36%, less than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.80% | 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
IWP and SGOV have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.15%) compared to SGOV (0.05%). In terms of maximum drawdown, IWP dropped -56.92% vs SGOV's -0.03%.
On 5-year performance, IWP leads with 5.09% vs 3.63% 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, IWP has performed better with a 5.09% return vs 3.63%. 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 0.23% for IWP.
SGOV has the higher dividend yield at 3.80%, compared with 0.36% for IWP.
IWP is categorized as Mid Cap Growth Equities, while SGOV is Ultrashort Bond. IWP tracks Russell Midcap Growth Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.23% for IWP and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.89 vs -0.07), 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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