SGOV vs. INDL
SGOV (iShares 0-3 Month Treasury Bond ETF) and INDL (Direxion Daily India Bull 3x Shares) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while INDL is a Leveraged Equities fund tracking the Indus India Index (300%). Both are passively managed. Over the past 5 years, SGOV returned 3.56%/yr vs -2.48%/yr for INDL. At a correlation of -0.05, they often move in opposite directions. SGOV charges 0.09%/yr vs 1.33%/yr for INDL.
Performance
SGOV vs. INDL - Performance Comparison
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Returns By Period
In the year-to-date period, SGOV achieves a 1.61% return, which is significantly higher than INDL's -23.37% return.
SGOV
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.95%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
INDL
- 1D
- 2.23%
- 1M
- 0.60%
- YTD
- -23.37%
- 6M
- -20.84%
- 1Y
- -28.42%
- 3Y*
- -0.01%
- 5Y*
- -2.48%
- 10Y*
- 0.22%
SGOV vs. INDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
INDL Direxion Daily India Bull 3x Shares | -23.37% | -3.21% | 7.56% | 26.06% | -22.88% | 40.26% | 169.15% |
Correlation
The correlation between SGOV and INDL is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
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 | -0.05 |
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Return for Risk
SGOV vs. INDL — Risk / Return Rank
SGOV
INDL
SGOV vs. INDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and Direxion Daily India Bull 3x Shares (INDL). 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 | INDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +21.24 | ||
| Sortino ratioReturn per unit of downside risk | +277.05 | ||
| Omega ratioGain probability vs. loss probability | 195.55 | 0.85 | +194.70 |
| Calmar ratioReturn relative to maximum drawdown | 398.20 | -0.75 | +398.95 |
| Martin ratioReturn relative to average drawdown | 4,461.98 | -1.55 | +4,463.53 |
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Drawdowns
SGOV vs. INDL - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum INDL drawdown of -95.67%. Use the drawdown chart below to compare losses from any high point for SGOV and INDL.
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Drawdown Indicators
| SGOV | INDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -95.67% | +95.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -37.82% | +37.81% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -47.64% | +47.63% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -47.64% | +47.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -91.96% | — |
Current DrawdownCurrent decline from peak | 0.00% | -78.43% | +78.43% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -66.36% | +66.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 18.35% | -18.35% |
Volatility
SGOV vs. INDL - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.05%, while Direxion Daily India Bull 3x Shares (INDL) has a volatility of 8.12%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than INDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOV | INDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 8.12% | -8.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 25.59% | -25.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 29.71% | -29.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 30.62% | -30.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 52.69% | -52.45% |
SGOV vs. INDL - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is lower than INDL's 1.33% expense ratio.
Dividends
SGOV vs. INDL - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, more than INDL's 1.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | 1.64% | 1.42% | 2.79% | 1.65% | 0.09% | 2.35% | 0.00% | 0.68% | 0.18% | 0.31% |
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% |
Frequently Asked Questions
SGOV and INDL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDL has higher volatility (8.12%) compared to SGOV (0.05%). In terms of maximum drawdown, SGOV dropped -0.03% vs INDL's -95.67%.
On 5-year performance, SGOV leads with 3.56% vs -2.48% for INDL. 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 3.56% return vs -2.48%. 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 1.33% for INDL.
SGOV has the higher dividend yield at 3.85%, compared with 1.64% for INDL.
SGOV is categorized as Ultrashort Bond, while INDL is Leveraged Equities. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while INDL tracks Indus India Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.09% for SGOV and 1.33% for INDL.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.96), 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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