SGOV vs. IEMB.L
SGOV (iShares 0-3 Month Treasury Bond ETF) and IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while IEMB.L is a Emerging Markets Bonds fund managed by iShares. Over the past 5 years, SGOV returned 3.57%/yr vs 1.92%/yr for IEMB.L. At a correlation of -0.00, they often move in opposite directions. SGOV charges 0.09%/yr vs 0.45%/yr for IEMB.L.
Performance
SGOV vs. IEMB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGOV achieves a 1.69% return, which is significantly lower than IEMB.L's 2.13% return.
SGOV
- 1D
- 0.04%
- 1M
- 0.26%
- YTD
- 1.69%
- 6M
- 1.79%
- 1Y
- 3.92%
- 3Y*
- 4.71%
- 5Y*
- 3.57%
- 10Y*
- —
IEMB.L
- 1D
- -0.06%
- 1M
- 2.10%
- YTD
- 2.13%
- 6M
- 2.52%
- 1Y
- 11.42%
- 3Y*
- 9.58%
- 5Y*
- 1.92%
- 10Y*
- 3.34%
SGOV vs. IEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.69% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 2.13% | 13.71% | 5.70% | 10.54% | -18.35% | -2.28% | 12.26% |
Correlation
The correlation between SGOV and IEMB.L is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.00 |
The correlation between SGOV and IEMB.L shifts across timeframes, from -0.12 (1 year) to -0.00 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGOV vs. IEMB.L — Risk / Return Rank
SGOV
IEMB.L
SGOV vs. IEMB.L - 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 J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L). 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 | IEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.39 | ||
| Sortino ratioReturn per unit of downside risk | +273.25 | ||
| Omega ratioGain probability vs. loss probability | 196.05 | 1.40 | +194.66 |
| Calmar ratioReturn relative to maximum drawdown | 399.24 | 2.73 | +396.51 |
| Martin ratioReturn relative to average drawdown | 4,473.64 | 11.30 | +4,462.34 |
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Drawdowns
SGOV vs. IEMB.L - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum IEMB.L drawdown of -31.65%. Use the drawdown chart below to compare losses from any high point for SGOV and IEMB.L.
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Drawdown Indicators
| SGOV | IEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -31.65% | +31.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -4.32% | +4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -7.54% | +7.53% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -28.62% | +28.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.62% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.25% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.98% | +4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 1.04% | -1.04% |
Volatility
SGOV vs. IEMB.L - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.06%, while iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a volatility of 1.69%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than IEMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOV | IEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 1.69% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 4.97% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.19% | 5.94% | -5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 8.88% | -8.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 9.25% | -9.01% |
SGOV vs. IEMB.L - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than IEMB.L's 0.45% expense ratio.
Dividends
SGOV vs. IEMB.L - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, less than IEMB.L's 5.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 5.74% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 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
SGOV and IEMB.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.45% for IEMB.L.
SGOV is categorized as Ultrashort Bond, while IEMB.L is Emerging Markets Bonds. Their fees differ too: 0.09% for SGOV and 0.45% for IEMB.L.
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