SGOV vs. HIGH
SGOV (iShares 0-3 Month Treasury Bond ETF) and HIGH (Simplify Enhanced Income ETF) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while HIGH is a Derivative Income fund actively managed by Simplify. SGOV is passively managed, while HIGH is actively managed. Over the past 3 years, SGOV returned 4.62%/yr vs 3.96%/yr for HIGH. Their -0.04 correlation means they have often moved in opposite directions in the past. SGOV charges 0.09%/yr vs 0.50%/yr for HIGH.
Performance
SGOV vs. HIGH - Performance Comparison
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Returns By Period
In the year-to-date period, SGOV achieves a 2.14% return, which is significantly lower than HIGH's 3.34% return.
SGOV
- 1D
- 0.01%
- 1M
- 0.30%
- 6M
- 1.81%
- YTD
- 2.14%
- 1Y
- 3.84%
- 3Y*
- 4.62%
- 5Y*
- 3.66%
- 10Y*
- —
- ALL TIME*
- 2.96%
HIGH
- 1D
- 3.19%
- 1M
- 3.92%
- 6M
- 4.37%
- YTD
- 3.34%
- 1Y
- 2.23%
- 3Y*
- 3.96%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $283.86K | $263.10K | $543.80K | |
| $2.10B | $1.90B | $2.07B |
SGOV vs. HIGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 2.14% | 4.24% | 5.27% | 5.12% | 0.68% |
HIGH Simplify Enhanced Income ETF | 3.34% | 4.35% | 1.52% | 7.70% | 0.47% |
Correlation
The correlation between SGOV and HIGH is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | -0.04 |
The correlation between SGOV and HIGH shifts across timeframes, from -0.15 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGOV vs. HIGH — Risk / Return Rank
SGOV
HIGH
SGOV vs. HIGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and Simplify Enhanced Income ETF (HIGH). 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 | HIGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +20.44 | ||
| Sortino ratioReturn per unit of downside risk | +378.72 | ||
| Omega ratioGain probability vs. loss probability | 379.49 | 1.06 | +378.43 |
| Calmar ratioReturn relative to maximum drawdown | 387.22 | 0.32 | +386.90 |
| Martin ratioReturn relative to average drawdown | 6,134.73 | 0.50 | +6,134.23 |
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Drawdowns
SGOV vs. HIGH - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum HIGH drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for SGOV and HIGH.
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Drawdown Indicators
| SGOV | HIGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -9.50% | +9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -7.08% | +7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -9.50% | +9.49% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.65% | +3.65% |
Average DrawdownAverage peak-to-trough decline | 0.00% | -2.59% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 4.47% | -4.47% |
Volatility
SGOV vs. HIGH - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.04%, while Simplify Enhanced Income ETF (HIGH) has a volatility of 3.91%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOV | HIGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 3.91% | -3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 5.09% | -4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.19% | 7.97% | -7.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 9.61% | -9.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.23% | 9.61% | -9.38% |
SGOV vs. HIGH - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than HIGH's 0.50% expense ratio.
Dividends
SGOV vs. HIGH - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.75%, less than HIGH's 6.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 6.59% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.75% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
SGOV and HIGH have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIGH has higher volatility (3.91%) compared to SGOV (0.04%). In terms of maximum drawdown, SGOV dropped -0.03% vs HIGH's -9.50%.
On 3-year performance, SGOV leads with 4.62% vs 3.96% for HIGH. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SGOV has performed better with a 4.62% return vs 3.96%. 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 0.50% for HIGH.
HIGH has the higher dividend yield at 6.59%, compared with 3.75% for SGOV.
SGOV is categorized as Ultrashort Bond, while HIGH is Derivative Income. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.09% for SGOV and 0.50% for HIGH.
SGOV currently has the higher Sharpe Ratio (20.72 vs 0.28), 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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