SGOV vs. IBAT

Last updated Jun 14, 2026

SGOV (iShares 0-3 Month Treasury Bond ETF) and IBAT (iShares Energy Storage & Materials ETF) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials. Both are passively managed. Over the past year, SGOV returned 3.91% vs 105.19% for IBAT. At a correlation of -0.07, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.47%/yr for IBAT.

Performance

SGOV vs. IBAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-3 Month Treasury Bond ETF (SGOV) and iShares Energy Storage & Materials ETF (IBAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGOV achieves a 1.61% return, which is significantly lower than IBAT's 51.63% return.

SGOV

• 1D: 0.02%
• 1M: 0.26%
• YTD: 1.61%
• 6M: 1.78%
• 1Y: 3.91%
• 3Y*: 4.71%
• 5Y*: 3.56%
• 10Y*: —

IBAT

• 1D: 1.07%
• 1M: -1.05%
• YTD: 51.63%
• 6M: 46.54%
• 1Y: 105.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SGOV vs. IBAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SGOV iShares 0-3 Month Treasury Bond ETF	1.61%	4.24%	4.07%
IBAT iShares Energy Storage & Materials ETF	51.63%	32.09%	-13.29%

Correlation

The correlation between SGOV and IBAT is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	-0.07

Return for Risk

SGOV vs. IBAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

IBAT

IBAT Risk / Return Rank: 94
IBAT Sharpe Ratio Rank: 96
IBAT Sortino Ratio Rank: 92
IBAT Omega Ratio Rank: 92
IBAT Calmar Ratio Rank: 96
IBAT Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SGOV vs. IBAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and iShares Energy Storage & Materials ETF (IBAT). 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	IBAT	Difference
Sharpe ratio: Return per unit of total volatility	20.28	3.63	+16.65
Sortino ratio: Return per unit of downside risk	275.69	3.98	+271.71
Omega ratio: Gain probability vs. loss probability	195.55	1.54	+194.01
Calmar ratio: Return relative to maximum drawdown	398.20	7.45	+390.75
Martin ratio: Return relative to average drawdown	4,461.98	20.84	+4,441.14

SGOV vs. IBAT - Sharpe Ratio Comparison

The current SGOV Sharpe Ratio is 20.28, which is higher than the IBAT Sharpe Ratio of 3.63. The chart below compares the historical Sharpe Ratios of SGOV and IBAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SGOV vs. IBAT - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum IBAT drawdown of -28.26%. Use the drawdown chart below to compare losses from any high point for SGOV and IBAT.

Drawdown Indicators

	SGOV	IBAT	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-28.26%	+28.23%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-13.71%	+13.70%
Max Drawdown (3Y) Largest decline over 3 years	-0.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.03%	—	—
Current Drawdown Current decline from peak	0.00%	-8.98%	+8.98%
Average Drawdown Average peak-to-trough decline	-0.00%	-7.74%	+7.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	4.90%	-4.90%

Volatility

SGOV vs. IBAT - Volatility Comparison

The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.05%, while iShares Energy Storage & Materials ETF (IBAT) has a volatility of 13.41%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than IBAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOV	IBAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	13.41%	-13.36%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	22.68%	-22.55%
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	28.18%	-27.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	24.58%	-24.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	24.58%	-24.34%

SGOV vs. IBAT - Expense Ratio Comparison

SGOV has a 0.09% expense ratio, which is lower than IBAT's 0.47% expense ratio.

Dividends

SGOV vs. IBAT - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.85%, more than IBAT's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IBAT iShares Energy Storage & Materials ETF	0.76%	1.15%	1.37%	0.00%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Frequently Asked Questions

Can I hold both SGOV and IBAT in my portfolio?

SGOV and IBAT have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOV or IBAT?

IBAT has higher volatility (13.41%) compared to SGOV (0.05%). In terms of maximum drawdown, SGOV dropped -0.03% vs IBAT's -28.26%.

Which ETF is better, SGOV or IBAT?

On 1-year performance, IBAT leads with 105.19% vs 3.91% 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.

Which ETF has performed better, SGOV or IBAT?

Over the 1-year period, IBAT has performed better with a 105.19% return vs 3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGOV or IBAT?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.47% for IBAT.

Which ETF pays a higher dividend yield, SGOV or IBAT?

SGOV has the higher dividend yield at 3.85%, compared with 0.76% for IBAT.

What is the main difference between SGOV and IBAT?

SGOV is categorized as Ultrashort Bond, while IBAT is Alternative Energy Equities. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while IBAT tracks STOXX Global Energy Storage and Materials. Their fees differ too: 0.09% for SGOV and 0.47% for IBAT.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.28 vs 3.63), 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.