OPER vs. SGOV
Compare and contrast key facts about ClearShares Ultra-Short Maturity ETF (OPER) and iShares 0-3 Month Treasury Bond ETF (SGOV).
OPER and SGOV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OPER is a passively managed fund by ClearShares that tracks the performance of the ICE BofA U.S. Broad Market Index. It was launched on Jul 10, 2018. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Securities Index. It was launched on May 26, 2020. Both OPER and SGOV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
OPER vs. SGOV - Performance Comparison
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OPER vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 0.90% | 4.37% | 5.34% | 5.09% | 1.76% | 0.37% | 0.27% |
SGOV iShares 0-3 Month Treasury Bond ETF | 0.86% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Returns By Period
The year-to-date returns for both stocks are quite close, with OPER having a 0.90% return and SGOV slightly lower at 0.86%.
OPER
- 1D
- 0.01%
- 1M
- 0.31%
- YTD
- 0.90%
- 6M
- 1.96%
- 1Y
- 4.09%
- 3Y*
- 4.88%
- 5Y*
- 3.54%
- 10Y*
- —
SGOV
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 0.86%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.79%
- 5Y*
- 3.40%
- 10Y*
- —
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OPER vs. SGOV - Expense Ratio Comparison
OPER has a 0.20% 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%.
Return for Risk
OPER vs. SGOV — Risk / Return Rank
OPER
SGOV
OPER vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) 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.
| OPER | SGOV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 15.57 | 20.61 | -5.05 |
Sortino ratioReturn per unit of downside risk | 42.62 | 284.11 | -241.49 |
Omega ratioGain probability vs. loss probability | 13.98 | 201.50 | -187.52 |
Calmar ratioReturn relative to maximum drawdown | 46.97 | 408.95 | -361.98 |
Martin ratioReturn relative to average drawdown | 387.77 | 4,591.55 | -4,203.77 |
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
| OPER | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.57 | 20.61 | -5.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.24 | 14.11 | -2.87 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.24 | 12.33 | -10.09 |
Correlation
The correlation between OPER and SGOV is 0.40, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
OPER vs. SGOV - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 4.15%, more than SGOV's 3.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 4.15% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.99% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% |
Drawdowns
OPER vs. SGOV - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for OPER and SGOV.
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Drawdown Indicators
| OPER | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -0.03% | -2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -0.01% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -0.03% | -0.10% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.16% | 0.00% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.00% | +0.01% |
Volatility
OPER vs. SGOV - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.05%, while iShares 0-3 Month Treasury Bond ETF (SGOV) has a volatility of 0.06%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky 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
| OPER | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.06% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.18% | 0.13% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.28% | 0.20% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 0.24% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.24% | 0.24% | +1.00% |