SGOV vs. VBIL

Last updated Jun 12, 2026

SGOV (iShares 0-3 Month Treasury Bond ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both Ultrashort Bond funds - SGOV tracks the ICE 0-3 Month US Treasury Securities Index while VBIL tracks the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Over the past year, SGOV returned 3.94% vs 3.93% for VBIL. At a 0.43 correlation, their price movements are largely independent. SGOV charges 0.09%/yr vs 0.07%/yr for VBIL.

Performance

SGOV vs. VBIL - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SGOV at 1.59% and VBIL at 1.59%.

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.59%
• 6M: 1.80%
• 1Y: 3.94%
• 3Y*: 4.70%
• 5Y*: 3.55%
• 10Y*: —

VBIL

• 1D: 0.01%
• 1M: 0.30%
• YTD: 1.59%
• 6M: 1.81%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SGOV vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
SGOV iShares 0-3 Month Treasury Bond ETF	1.59%	3.75%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.59%	3.73%

Correlation

The correlation between SGOV and VBIL is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025	0.43

Return for Risk

SGOV vs. VBIL — 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

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 99
VBIL 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. VBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-3 Month Treasury Bond ETF (SGOV) and Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	20.22	15.10	+5.12
Sortino ratio: Return per unit of downside risk	274.98	39.04	+235.94
Omega ratio: Gain probability vs. loss probability	195.05	21.06	+173.99
Calmar ratio: Return relative to maximum drawdown	397.15	42.54	+354.62
Martin ratio: Return relative to average drawdown	4,450.29	531.58	+3,918.71

SGOV vs. VBIL - Sharpe Ratio Comparison

The current SGOV Sharpe Ratio is 20.22, which is higher than the VBIL Sharpe Ratio of 15.10. The chart below compares the historical Sharpe Ratios of SGOV and VBIL, 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. VBIL - Drawdown Comparison

The maximum SGOV drawdown since its inception was -0.03%, smaller than the maximum VBIL drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for SGOV and VBIL.

Drawdown Indicators

	SGOV	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.09%	+0.06%
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	-0.09%	+0.08%
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%	0.01%	-0.01%

Volatility

SGOV vs. VBIL - Volatility Comparison

iShares 0-3 Month Treasury Bond ETF (SGOV) and Vanguard 0-3 Month Treasury Bill ETF (VBIL) have volatilities of 0.05% and 0.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOV	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	0.05%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	0.16%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	0.26%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.24%	0.30%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.24%	0.30%	-0.06%

SGOV vs. VBIL - Expense Ratio Comparison

SGOV has a 0.09% expense ratio, which is higher than VBIL's 0.07% 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. VBIL - Dividend Comparison

SGOV's dividend yield for the trailing twelve months is around 3.85%, more than VBIL's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGOV and VBIL in my portfolio?

SGOV and VBIL have a correlation of 0.46, 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 VBIL?

VBIL has higher volatility (0.05%) compared to SGOV (0.05%). In terms of maximum drawdown, SGOV dropped -0.03% vs VBIL's -0.09%.

Which ETF is better, SGOV or VBIL?

On 1-year performance, SGOV leads with 3.94% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGOV or VBIL?

Over the 1-year period, SGOV has performed better with a 3.94% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGOV or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.09% for SGOV.

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

SGOV has the higher dividend yield at 3.85%, compared with 3.65% for VBIL.

What is the main difference between SGOV and VBIL?

SGOV tracks ICE 0-3 Month US Treasury Securities Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for SGOV and 0.07% for VBIL.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.22 vs 15.10), 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.