SGOV vs. SCHZ
SGOV (iShares 0-3 Month Treasury Bond ETF) and SCHZ (Schwab U.S. Aggregate Bond ETF) are both exchange-traded funds - SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index, while SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. Both are passively managed. Over the past 5 years, SGOV returned 3.56%/yr vs 0.14%/yr for SCHZ. At a 0.02 correlation, their price movements are largely independent. SGOV charges 0.09%/yr vs 0.03%/yr for SCHZ.
Performance
SGOV vs. SCHZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SGOV achieves a 1.63% return, which is significantly higher than SCHZ's 0.60% return.
SGOV
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.63%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- 4.69%
- 5Y*
- 3.56%
- 10Y*
- —
SCHZ
- 1D
- 0.09%
- 1M
- 1.14%
- YTD
- 0.60%
- 6M
- 0.93%
- 1Y
- 4.97%
- 3Y*
- 4.02%
- 5Y*
- 0.14%
- 10Y*
- 1.50%
SGOV vs. SCHZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 1.63% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
SCHZ Schwab U.S. Aggregate Bond ETF | 0.60% | 7.24% | 1.26% | 5.60% | -13.17% | -1.72% | 1.93% |
Correlation
The correlation between SGOV and SCHZ is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
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 | 0.02 |
The correlation between SGOV and SCHZ shifts across timeframes, from -0.10 (1 year) to 0.02 (all time), 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. SCHZ — Risk / Return Rank
SGOV
SCHZ
SGOV vs. SCHZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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 | SCHZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +18.99 | ||
| Sortino ratioReturn per unit of downside risk | +272.26 | ||
| Omega ratioGain probability vs. loss probability | 194.55 | 1.24 | +193.32 |
| Calmar ratioReturn relative to maximum drawdown | 396.11 | 1.85 | +394.26 |
| Martin ratioReturn relative to average drawdown | 4,438.60 | 5.42 | +4,433.17 |
Loading charts...
Drawdowns
SGOV vs. SCHZ - Drawdown Comparison
The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum SCHZ drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for SGOV and SCHZ.
Loading charts...
Drawdown Indicators
| SGOV | SCHZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -18.74% | +18.71% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -2.70% | +2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -0.01% | -6.18% | +6.17% |
Max Drawdown (5Y)Largest decline over 5 years | -0.03% | -18.01% | +17.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.74% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.17% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -3.68% | +3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.92% | -0.92% |
Volatility
SGOV vs. SCHZ - Volatility Comparison
The current volatility for iShares 0-3 Month Treasury Bond ETF (SGOV) is 0.05%, while Schwab U.S. Aggregate Bond ETF (SCHZ) has a volatility of 1.33%. This indicates that SGOV experiences smaller price fluctuations and is considered to be less risky than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SGOV | SCHZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.33% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 2.76% | -2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.19% | 3.74% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.24% | 6.09% | -5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.24% | 5.42% | -5.18% |
SGOV vs. SCHZ - Expense Ratio Comparison
SGOV has a 0.09% expense ratio, which is higher than SCHZ's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SGOV vs. SCHZ - Dividend Comparison
SGOV's dividend yield for the trailing twelve months is around 3.85%, less than SCHZ's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHZ Schwab U.S. Aggregate Bond ETF | 4.11% | 4.05% | 3.96% | 3.28% | 2.63% | 2.16% | 2.43% | 2.79% | 2.56% | 2.40% | 2.24% | 2.11% |
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 SCHZ have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCHZ has higher volatility (1.33%) compared to SGOV (0.05%). In terms of maximum drawdown, SGOV dropped -0.03% vs SCHZ's -18.74%.
On 5-year performance, SGOV leads with 3.56% vs 0.14% for SCHZ. On fees, SCHZ is cheaper at 0.03% 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 0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHZ is cheaper with a 0.03% expense ratio, compared with 0.09% for SGOV.
SCHZ has the higher dividend yield at 4.11%, compared with 3.85% for SGOV.
SGOV is categorized as Ultrashort Bond, while SCHZ is Total Bond Market. SGOV tracks ICE 0-3 Month US Treasury Securities Index, while SCHZ tracks Bloomberg US Aggregate Bond Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.09% for SGOV and 0.03% for SCHZ.
SGOV currently has the higher Sharpe Ratio (20.33 vs 1.34), 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 SCHZ
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