SGOV vs. SPTU

Last updated Jun 4, 2026

SGOV (iShares 0-3 Month Treasury Bond ETF) and SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) are both Ultrashort Bond funds - SGOV tracks the ICE 0-3 Month US Treasury Securities Index while SPTU tracks the ICE BofA US Treasury Bill Index. Both are passively managed. At a 0.19 correlation, their price movements are largely independent. SGOV charges 0.09%/yr vs 0.05%/yr for SPTU.

Performance

SGOV vs. SPTU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-3 Month Treasury Bond ETF (SGOV) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SGOV having a 1.51% return and SPTU slightly lower at 1.48%.

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.51%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.72%
• 5Y*: 3.54%
• 10Y*: —

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOV vs. SPTU - Yearly Performance Comparison

	2026 (YTD)	2025
SGOV iShares 0-3 Month Treasury Bond ETF	1.51%	0.91%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%

Correlation

The correlation between SGOV and SPTU is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.19

Return for Risk

SGOV vs. SPTU — 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

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. SPTU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU). 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.

	SGOV	SPTU	Difference
Sharpe ratio Return per unit of total volatility	20.28	—	—
Sortino ratio Return per unit of downside risk	275.69	—	—
Omega ratio Gain probability vs. loss probability	195.55	—	—
Calmar ratio Return relative to maximum drawdown	398.20	—	—
Martin ratio Return relative to average drawdown	4,462.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SGOV	SPTU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	20.28	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	14.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	12.48	11.88	+0.60

Drawdowns

SGOV vs. SPTU - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum SPTU drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for SGOV and SPTU.

Drawdown Indicators

	SGOV	SPTU	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.04%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	—	—
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%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	SGOV	SPTU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	0.32%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	0.32%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	0.32%	-0.08%

SGOV vs. SPTU - Expense Ratio Comparison

SGOV has a 0.09% expense ratio, which is higher than SPTU's 0.05% 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. SPTU - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.86%, more than SPTU's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SGOV iShares 0-3 Month Treasury Bond ETF	3.86%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGOV and SPTU in my portfolio?

SGOV and SPTU have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SGOV or SPTU?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SGOV or SPTU?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.09% for SGOV.

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

SGOV has the higher dividend yield at 3.86%, compared with 2.36% for SPTU.

What is the main difference between SGOV and SPTU?

SGOV tracks ICE 0-3 Month US Treasury Securities Index, while SPTU tracks ICE BofA US Treasury Bill Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.09% for SGOV and 0.05% for SPTU.