SGVT vs. SGOV

Last updated Jun 24, 2026

SGVT (Schwab Government Money Market ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - SGVT is a Money Market fund actively managed by Charles Schwab, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. SGVT is actively managed, while SGOV is passively managed. Over the past year, SGVT returned 3.72% vs 3.92% for SGOV. A 0.53 correlation means they provide meaningful diversification when combined. SGVT charges 0.28%/yr vs 0.09%/yr for SGOV.

Performance

SGVT vs. SGOV - Performance Comparison

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

Returns By Period

In the year-to-date period, SGVT achieves a 1.58% return, which is significantly lower than SGOV's 1.71% return.

SGVT

• 1D: 0.00%
• 1M: 0.23%
• YTD: 1.58%
• 6M: 1.66%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.71%
• 6M: 1.80%
• 1Y: 3.92%
• 3Y*: 4.68%
• 5Y*: 3.58%
• 10Y*: —

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

SGVT vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
SGVT Schwab Government Money Market ETF	1.58%	2.22%
SGOV iShares 0-3 Month Treasury Bond ETF	1.71%	2.31%

Correlation

The correlation between SGVT and SGOV is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.53

The correlation between SGVT and SGOV has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

Return for Risk

SGVT vs. SGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SGVT

SGVT Risk / Return Rank: 100
SGVT Sharpe Ratio Rank: 100
SGVT Sortino Ratio Rank: 100
SGVT Omega Ratio Rank: 100
SGVT Calmar Ratio Rank: 100
SGVT Martin Ratio Rank: 100

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.

SGVT vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Government Money Market ETF (SGVT) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	17.28	20.32	-3.04
Sortino ratio: Return per unit of downside risk	82.90	273.56	-190.66
Omega ratio: Gain probability vs. loss probability	29.19	194.05	-164.86
Calmar ratio: Return relative to maximum drawdown	138.06	395.07	-257.01
Martin ratio: Return relative to average drawdown	1,106.78	4,426.92	-3,320.15

SGVT vs. SGOV - Sharpe Ratio Comparison

The current SGVT Sharpe Ratio is 17.28, which is comparable to the SGOV Sharpe Ratio of 20.32. The chart below compares the historical Sharpe Ratios of SGVT and SGOV, 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

SGVT vs. SGOV - Drawdown Comparison

The maximum SGVT drawdown since its inception was -0.03%, roughly equal to the maximum SGOV drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SGVT and SGOV.

Drawdown Indicators

	SGVT	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.03%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-0.01%	-0.02%
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	-0.02%	0.00%	-0.02%
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%	0.00%	0.00%

Volatility

SGVT vs. SGOV - Volatility Comparison

Schwab Government Money Market ETF (SGVT) has a higher volatility of 0.10% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that SGVT's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGVT	SGOV	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%	0.19%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.22%	0.24%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.22%	0.24%	-0.02%

SGVT vs. SGOV - Expense Ratio Comparison

SGVT has a 0.28% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

SGVT vs. SGOV - Dividend Comparison

SGVT's dividend yield for the trailing twelve months is around 3.11%, less than SGOV's 3.85% 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%
SGVT Schwab Government Money Market ETF	3.11%	1.73%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGVT and SGOV in my portfolio?

SGVT and SGOV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGVT or SGOV?

SGVT has higher volatility (0.10%) compared to SGOV (0.06%). In terms of maximum drawdown, SGVT dropped -0.03% vs SGOV's -0.03%.

Which ETF is better, SGVT or SGOV?

On 1-year performance, SGOV leads with 3.92% vs 3.72% for SGVT. On fees, SGOV is cheaper at 0.09% 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, SGVT or SGOV?

Over the 1-year period, SGOV has performed better with a 3.92% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGVT or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.28% for SGVT.

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

SGOV has the higher dividend yield at 3.85%, compared with 3.11% for SGVT.

What is the main difference between SGVT and SGOV?

SGVT is categorized as Money Market, while SGOV is Ultrashort Bond. They also come from different issuers: Charles Schwab and iShares. Their fees differ too: 0.28% for SGVT and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.32 vs 17.28), 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.