KSA vs. SGOV
KSA (iShares MSCI Saudi Arabia ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - KSA is a Emerging Markets Equities fund tracking the MSCI Saudi Arabia Investable Market Index (IMI) 25/50 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, KSA returned 1.62%/yr vs 3.62%/yr for SGOV. At a correlation of -0.05, they often move in opposite directions. KSA charges 0.74%/yr vs 0.09%/yr for SGOV.
Performance
KSA vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, KSA achieves a 3.48% return, which is significantly higher than SGOV's 1.92% return.
KSA
- 1D
- -0.38%
- 1M
- -4.32%
- 6M
- -0.38%
- YTD
- 3.48%
- 1Y
- -1.95%
- 3Y*
- -1.39%
- 5Y*
- 1.62%
- 10Y*
- 7.27%
SGOV
- 1D
- 0.02%
- 1M
- 0.30%
- 6M
- 1.80%
- YTD
- 1.92%
- 1Y
- 3.88%
- 3Y*
- 4.66%
- 5Y*
- 3.62%
- 10Y*
- —
KSA vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KSA iShares MSCI Saudi Arabia ETF | 3.48% | -8.20% | -0.19% | 15.05% | -6.06% | 33.62% | 19.37% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.92% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between KSA 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 | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.05 |
The correlation between KSA and SGOV shifts across timeframes, from -0.09 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
KSA vs. SGOV — Risk / Return Rank
KSA
SGOV
KSA vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Saudi Arabia ETF (KSA) 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.
| KSA | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.95 | ||
| Sortino ratioReturn per unit of downside risk | -383.88 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 384.06 | -383.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 391.99 | -392.15 |
| Martin ratioReturn relative to average drawdown | -0.37 | 6,210.22 | -6,210.59 |
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Drawdowns
KSA vs. SGOV - Drawdown Comparison
The maximum KSA drawdown since its inception was -40.56%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for KSA and SGOV.
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Drawdown Indicators
| KSA | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.56% | -0.03% | -40.53% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -0.01% | -11.61% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -0.01% | -15.55% |
Max Drawdown (5Y)Largest decline over 5 years | -28.08% | -0.03% | -28.05% |
Max Drawdown (10Y)Largest decline over 10 years | -40.56% | — | — |
Current DrawdownCurrent decline from peak | -17.87% | 0.00% | -17.87% |
Average DrawdownAverage peak-to-trough decline | -11.48% | -0.00% | -11.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.40% | 0.00% | +5.40% |
Volatility
KSA vs. SGOV - Volatility Comparison
iShares MSCI Saudi Arabia ETF (KSA) has a higher volatility of 3.20% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that KSA'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
| KSA | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 0.05% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 0.13% | +11.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 0.19% | +16.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.96% | 0.24% | +15.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 0.24% | +19.75% |
KSA vs. SGOV - Expense Ratio Comparison
KSA has a 0.74% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
KSA vs. SGOV - Dividend Comparison
KSA's dividend yield for the trailing twelve months is around 2.78%, less than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KSA iShares MSCI Saudi Arabia ETF | 2.78% | 2.95% | 3.44% | 2.44% | 1.93% | 1.58% | 1.76% | 2.15% | 2.51% | 2.30% | 3.05% | 0.04% |
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
KSA 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.
KSA has higher volatility (3.20%) compared to SGOV (0.05%). In terms of maximum drawdown, KSA dropped -40.56% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.62% vs 1.62% for KSA. 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 3.62% return vs 1.62%. 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 0.74% for KSA.
SGOV has the higher dividend yield at 3.80%, compared with 2.78% for KSA.
KSA is categorized as Emerging Markets Equities, while SGOV is Ultrashort Bond. KSA tracks MSCI Saudi Arabia Investable Market Index (IMI) 25/50 Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.74% for KSA and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.83 vs -0.12), 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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