MGOV vs. SHV
Compare and contrast key facts about First Trust Intermediate Government Opportunities ETF (MGOV) and iShares Short Treasury Bond ETF (SHV).
MGOV and SHV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MGOV is an actively managed fund by First Trust. It was launched on Aug 2, 2023. SHV is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Short Treasury Bond Index. It was launched on Jan 11, 2007.
Performance
MGOV vs. SHV - Performance Comparison
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MGOV vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 0.28% | 8.54% | 1.55% | 4.56% |
SHV iShares Short Treasury Bond ETF | 0.81% | 4.21% | 5.12% | 2.26% |
Returns By Period
In the year-to-date period, MGOV achieves a 0.28% return, which is significantly lower than SHV's 0.81% return.
MGOV
- 1D
- 0.31%
- 1M
- -2.29%
- YTD
- 0.28%
- 6M
- 1.55%
- 1Y
- 5.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 0.81%
- 6M
- 1.82%
- 1Y
- 3.99%
- 3Y*
- 4.68%
- 5Y*
- 3.19%
- 10Y*
- 2.17%
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MGOV vs. SHV - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is higher than SHV's 0.15% expense ratio.
Return for Risk
MGOV vs. SHV — Risk / Return Rank
MGOV
SHV
MGOV vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Government Opportunities ETF (MGOV) and iShares Short Treasury Bond ETF (SHV). 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.
| MGOV | SHV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 19.56 | -18.56 |
Sortino ratioReturn per unit of downside risk | 1.43 | 153.08 | -151.65 |
Omega ratioGain probability vs. loss probability | 1.17 | 55.01 | -53.84 |
Calmar ratioReturn relative to maximum drawdown | 1.48 | 441.03 | -439.55 |
Martin ratioReturn relative to average drawdown | 4.26 | 2,478.85 | -2,474.59 |
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
| MGOV | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 19.56 | -18.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 11.07 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 7.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 4.43 | -3.50 |
Correlation
The correlation between MGOV and SHV is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MGOV vs. SHV - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.96%, more than SHV's 3.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 4.96% | 4.95% | 5.05% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHV iShares Short Treasury Bond ETF | 3.98% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Drawdowns
MGOV vs. SHV - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for MGOV and SHV.
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Drawdown Indicators
| MGOV | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -0.45% | -5.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.57% | -0.01% | -3.56% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.42% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -2.29% | 0.00% | -2.29% |
Average DrawdownAverage peak-to-trough decline | -1.59% | -0.03% | -1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.00% | +1.24% |
Volatility
MGOV vs. SHV - Volatility Comparison
First Trust Intermediate Government Opportunities ETF (MGOV) has a higher volatility of 1.77% compared to iShares Short Treasury Bond ETF (SHV) at 0.05%. This indicates that MGOV's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGOV | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 0.05% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 0.13% | +2.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.22% | 0.21% | +5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 0.29% | +5.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.02% | 0.28% | +5.74% |