SGVT vs. PMMF
SGVT (Schwab Government Money Market ETF) and PMMF (iShares Prime Money Market ETF) are both Money Market funds. Both are actively managed. Over the past year, SGVT returned 3.73% vs 3.97% for PMMF. At a 0.14 correlation, their price movements are largely independent. SGVT charges 0.28%/yr vs 0.20%/yr for PMMF.
Performance
SGVT vs. PMMF - Performance Comparison
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Returns By Period
In the year-to-date period, SGVT achieves a 1.58% return, which is significantly lower than PMMF's 1.70% return.
SGVT
- 1D
- -0.02%
- 1M
- 0.23%
- YTD
- 1.58%
- 6M
- 1.67%
- 1Y
- 3.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMMF
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.70%
- 6M
- 1.80%
- 1Y
- 3.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SGVT vs. PMMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SGVT Schwab Government Money Market ETF | 1.58% | 2.22% |
PMMF iShares Prime Money Market ETF | 1.70% | 2.33% |
Correlation
The correlation between SGVT and PMMF is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025 | 0.14 |
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Return for Risk
SGVT vs. PMMF — Risk / Return Rank
SGVT
PMMF
SGVT vs. PMMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Government Money Market ETF (SGVT) and iShares Prime Money Market ETF (PMMF). 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.
| SGVT | PMMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -8.73 | ||
| Omega ratioGain probability vs. loss probability | 29.30 | 34.90 | -5.60 |
| Calmar ratioReturn relative to maximum drawdown | 138.57 | 160.07 | -21.50 |
| Martin ratioReturn relative to average drawdown | 1,254.38 | 1,439.37 | -184.99 |
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Drawdowns
SGVT vs. PMMF - Drawdown Comparison
The maximum SGVT drawdown since its inception was -0.03%, smaller than the maximum PMMF drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for SGVT and PMMF.
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Drawdown Indicators
| SGVT | PMMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -0.13% | +0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.02% | -0.01% |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.00% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.00% | 0.00% |
Volatility
SGVT vs. PMMF - Volatility Comparison
Schwab Government Money Market ETF (SGVT) has a higher volatility of 0.10% compared to iShares Prime Money Market ETF (PMMF) at 0.06%. This indicates that SGVT's price experiences larger fluctuations and is considered to be riskier than PMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGVT | PMMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.06% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.15% | 0.13% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 0.21% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.22% | 0.35% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.22% | 0.35% | -0.13% |
SGVT vs. PMMF - Expense Ratio Comparison
SGVT has a 0.28% expense ratio, which is higher than PMMF's 0.20% expense ratio.
Dividends
SGVT vs. PMMF - Dividend Comparison
SGVT's dividend yield for the trailing twelve months is around 3.11%, less than PMMF's 3.96% yield.
| Position | TTM | 2025 |
|---|---|---|
PMMF iShares Prime Money Market ETF | 3.96% | 3.59% |
SGVT Schwab Government Money Market ETF | 3.11% | 1.73% |
Frequently Asked Questions
SGVT and PMMF have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGVT has higher volatility (0.10%) compared to PMMF (0.06%). In terms of maximum drawdown, SGVT dropped -0.03% vs PMMF's -0.13%.
On 1-year performance, PMMF leads with 3.97% vs 3.73% for SGVT. On fees, PMMF is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PMMF has performed better with a 3.97% return vs 3.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMMF is cheaper with a 0.20% expense ratio, compared with 0.28% for SGVT.
PMMF has the higher dividend yield at 3.96%, compared with 3.11% for SGVT.
They also come from different issuers: Charles Schwab and BlackRock. Their fees differ too: 0.28% for SGVT and 0.20% for PMMF.
PMMF currently has the higher Sharpe Ratio (19.46 vs 17.39), 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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