SGOV vs. AVEM
SGOV (iShares 0-3 Month Treasury Bond ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while AVEM is a Emerging Markets Equities fund actively managed by Avantis. SGOV is passively managed, while AVEM is actively managed. Over the past 5 years, SGOV returned 3.55%/yr vs 9.57%/yr for AVEM. At a correlation of -0.00, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.33%/yr for AVEM.
Performance
SGOV vs. AVEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SGOV achieves a 1.59% return, which is significantly lower than AVEM's 24.56% return.
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.59%
- 6M
- 1.80%
- 1Y
- 3.94%
- 3Y*
- 4.70%
- 5Y*
- 3.55%
- 10Y*
- —
AVEM
- 1D
- 4.59%
- 1M
- 2.95%
- YTD
- 24.56%
- 6M
- 25.81%
- 1Y
- 45.40%
- 3Y*
- 24.22%
- 5Y*
- 9.57%
- 10Y*
- —
SGOV vs. AVEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.59% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
AVEM Avantis Emerging Markets Equity ETF | 24.56% | 34.48% | 7.49% | 15.30% | -18.15% | 5.16% | 42.05% |
Correlation
The correlation between SGOV and AVEM is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
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 | -0.00 |
The correlation between SGOV and AVEM shifts across timeframes, from -0.17 (1 year) to 0.02 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SGOV vs. AVEM — Risk / Return Rank
SGOV
AVEM
SGOV vs. AVEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and Avantis Emerging Markets Equity ETF (AVEM). 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.
| SGOV | AVEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.07 | ||
| Sortino ratioReturn per unit of downside risk | +272.18 | ||
| Omega ratioGain probability vs. loss probability | 195.05 | 1.40 | +193.65 |
| Calmar ratioReturn relative to maximum drawdown | 397.15 | 3.47 | +393.68 |
| Martin ratioReturn relative to average drawdown | 4,450.29 | 13.23 | +4,437.06 |
Loading charts...
Drawdowns
SGOV vs. AVEM - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for SGOV and AVEM.
Loading charts...
Drawdown Indicators
| SGOV | AVEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -36.05% | +36.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -13.13% | +13.12% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -18.02% | +18.01% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -33.88% | +33.85% |
Current DrawdownCurrent decline from peak | 0.00% | -3.73% | +3.73% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -10.08% | +10.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 3.44% | -3.44% |
Volatility
SGOV vs. AVEM - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.05%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 11.06%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SGOV | AVEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 11.06% | -11.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 18.80% | -18.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 21.17% | -20.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 18.71% | -18.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 20.77% | -20.53% |
SGOV vs. AVEM - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than AVEM's 0.33% expense ratio.
Dividends
SGOV vs. AVEM - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, more than AVEM's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AVEM Avantis Emerging Markets Equity ETF | 2.60% | 2.45% | 3.17% | 3.06% | 2.77% | 2.61% | 1.60% | 0.35% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% |
Frequently Asked Questions
SGOV and AVEM have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVEM has higher volatility (11.06%) compared to SGOV (0.05%). In terms of maximum drawdown, SGOV dropped -0.03% vs AVEM's -36.05%.
On 5-year performance, AVEM leads with 9.57% vs 3.55% 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, AVEM has performed better with a 9.57% return vs 3.55%. 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 0.33% for AVEM.
SGOV has the higher dividend yield at 3.85%, compared with 2.60% for AVEM.
SGOV is categorized as Ultrashort Bond, while AVEM is Emerging Markets Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.09% for SGOV and 0.33% for AVEM.
SGOV currently has the higher Sharpe Ratio (20.22 vs 2.15), 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.
Find the right allocation for SGOV and AVEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer