PFF vs. SGOV
PFF (iShares Preferred and Income Securities ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - PFF is a Preferred Stock/Convertible Bonds fund tracking the S&P U.S. Preferred Stock 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, PFF returned 1.50%/yr vs 3.54%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. PFF charges 0.46%/yr vs 0.09%/yr for SGOV.
Performance
PFF vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, PFF achieves a 2.93% return, which is significantly higher than SGOV's 1.51% return.
PFF
- 1D
- -0.67%
- 1M
- 0.34%
- YTD
- 2.93%
- 6M
- 3.41%
- 1Y
- 9.35%
- 3Y*
- 6.70%
- 5Y*
- 1.50%
- 10Y*
- 3.30%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
PFF vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 2.93% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 13.87% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between PFF and SGOV is -0.06, 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 | -0.06 |
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 29, 2020 | -0.01 |
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Return for Risk
PFF vs. SGOV — Risk / Return Rank
PFF
SGOV
PFF vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Preferred and Income Securities ETF (PFF) 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.
| PFF | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.88 | ||
| Sortino ratioReturn per unit of downside risk | -273.67 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 195.55 | -194.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 398.20 | -396.42 |
| Martin ratioReturn relative to average drawdown | 5.51 | 4,462.00 | -4,456.49 |
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
| PFF | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 20.28 | -18.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 14.73 | -14.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 12.48 | -12.28 |
Drawdowns
PFF vs. SGOV - Drawdown Comparison
The maximum PFF drawdown since its inception was -65.55%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for PFF and SGOV.
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Drawdown Indicators
| PFF | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.55% | -0.03% | -65.52% |
Max Drawdown (1Y)Largest decline over 1 year | -5.28% | -0.01% | -5.27% |
Max Drawdown (3Y)Largest decline over 3 years | -10.63% | -0.01% | -10.62% |
Max Drawdown (5Y)Largest decline over 5 years | -21.05% | -0.03% | -21.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.10% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | 0.00% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -0.00% | -5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.70% | 0.00% | +1.70% |
Volatility
PFF vs. SGOV - Volatility Comparison
iShares Preferred and Income Securities ETF (PFF) has a higher volatility of 2.09% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that PFF'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
| PFF | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 0.05% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 0.13% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.75% | 0.20% | +6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.30% | 0.24% | +10.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.66% | 0.24% | +12.42% |
PFF vs. SGOV - Expense Ratio Comparison
PFF has a 0.46% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
PFF vs. SGOV - Dividend Comparison
PFF's dividend yield for the trailing twelve months is around 5.47%, more than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 5.47% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
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
PFF and SGOV have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFF has higher volatility (2.09%) compared to SGOV (0.05%). In terms of maximum drawdown, PFF dropped -65.55% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs 1.50% for PFF. 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 3.54% return vs 1.50%. 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 0.46% for PFF.
PFF has the higher dividend yield at 5.47%, compared with 3.86% for SGOV.
PFF is categorized as Preferred Stock/Convertible Bonds, while SGOV is Ultrashort Bond. PFF tracks S&P U.S. Preferred Stock Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.46% for PFF and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.39), 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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