SLYV vs. SGOV
SLYV (SPDR S&P 600 Small Cap Value ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - SLYV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, SLYV returned 8.27%/yr vs 3.64%/yr for SGOV. Their -0.03 correlation means they have often moved in opposite directions in the past. SLYV charges 0.15%/yr vs 0.09%/yr for SGOV.
Performance
SLYV vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SLYV achieves a 20.28% return, which is significantly higher than SGOV's 2.04% return.
SLYV
- 1D
- 0.18%
- 1M
- 0.18%
- 6M
- 12.38%
- YTD
- 20.28%
- 1Y
- 32.51%
- 3Y*
- 12.94%
- 5Y*
- 8.27%
- 10Y*
- 10.08%
- ALL TIME*
- 10.74%
SGOV
- 1D
- 0.03%
- 1M
- 0.30%
- 6M
- 1.80%
- YTD
- 2.04%
- 1Y
- 3.85%
- 3Y*
- 4.65%
- 5Y*
- 3.64%
- 10Y*
- —
- ALL TIME*
- 2.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.66B | $1.89B | $2.03B | |
| $13.68M | $20.85M | $23.13M |
SLYV vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SLYV SPDR S&P 600 Small Cap Value ETF | 20.28% | 6.54% | 7.28% | 14.82% | -11.08% | 30.57% | 33.93% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.04% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between SLYV and SGOV is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.07 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.03 |
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Return for Risk
SLYV vs. SGOV — Risk / Return Rank
SLYV
SGOV
SLYV vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Value ETF (SLYV) 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.
| SLYV | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.83 | ||
| Sortino ratioReturn per unit of downside risk | -380.04 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 383.06 | -381.73 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 390.94 | -387.37 |
| Martin ratioReturn relative to average drawdown | 12.10 | 6,193.70 | -6,181.60 |
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Drawdowns
SLYV vs. SGOV - Drawdown Comparison
The maximum SLYV drawdown since its inception was -61.15%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SLYV and SGOV.
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Drawdown Indicators
| SLYV | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.15% | -0.03% | -61.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.36% | -0.01% | -9.35% |
Max Drawdown (3Y)Largest decline over 3 years | -28.68% | -0.01% | -28.67% |
Max Drawdown (5Y)Largest decline over 5 years | -28.68% | -0.03% | -28.65% |
Max Drawdown (10Y)Largest decline over 10 years | -47.73% | — | — |
Current DrawdownCurrent decline from peak | -1.61% | 0.00% | -1.61% |
Average DrawdownAverage peak-to-trough decline | -8.90% | 0.00% | -8.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 0.00% | +2.76% |
Volatility
SLYV vs. SGOV - Volatility Comparison
SPDR S&P 600 Small Cap Value ETF (SLYV) has a higher volatility of 3.61% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that SLYV'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.
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Volatility by Period
| SLYV | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 0.05% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 11.21% | 0.13% | +11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.81% | 0.19% | +17.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.70% | 0.24% | +21.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.89% | 0.24% | +23.65% |
SLYV vs. SGOV - Expense Ratio Comparison
SLYV has a 0.15% expense ratio, which is higher than SGOV's 0.09% 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
SLYV vs. SGOV - Dividend Comparison
SLYV's dividend yield for the trailing twelve months is around 1.82%, less than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.80% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLYV SPDR S&P 600 Small Cap Value ETF | 1.82% | 2.02% | 2.30% | 2.11% | 1.47% | 1.94% | 1.40% | 1.67% | 2.14% | 5.53% | 2.18% | 6.55% |
Frequently Asked Questions
SLYV and SGOV have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLYV has higher volatility (3.61%) compared to SGOV (0.05%). In terms of maximum drawdown, SLYV dropped -61.15% vs SGOV's -0.03%.
On 5-year performance, SLYV leads with 8.27% vs 3.64% for SGOV. On fees, SGOV is cheaper at 0.09% 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, SLYV has performed better with a 8.27% return vs 3.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.15% for SLYV.
SGOV has the higher dividend yield at 3.80%, compared with 1.82% for SLYV.
SLYV is categorized as Small Cap Value Equities, while SGOV is Ultrashort Bond. SLYV tracks S&P SmallCap 600 Value Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for SLYV and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.72 vs 1.89), 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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