SPAXX vs. SGOV
Compare and contrast key facts about Fidelity Government Money Market Fund (SPAXX) and iShares 0-3 Month Treasury Bond ETF (SGOV).
SPAXX is managed by Fidelity. It was launched on Feb 5, 1990. SGOV is a passively managed fund by iShares that tracks the performance of the ICE 0-3 Month US Treasury Bill Index. It was launched on May 26, 2020.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAXX or SGOV.
Key characteristics
| SPAXX | SGOV | |
|---|---|---|
| YTD Return | 0.86% | 3.88% |
| 1Y Return | 2.11% | 5.47% |
| 3Y Return (Ann) | 2.26% | 3.53% |
| Sharpe Ratio | 2.71 | 22.40 |
| Daily Std Dev | 1.00% | 0.24% |
| Max Drawdown | 0.00% | -0.03% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SPAXX and SGOV is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SPAXX vs. SGOV - Performance Comparison
In the year-to-date period, SPAXX achieves a 0.86% return, which is significantly lower than SGOV's 3.88% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPAXX vs. SGOV - Expense Ratio Comparison
Risk-Adjusted Performance
SPAXX vs. SGOV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) 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.
Dividends
SPAXX vs. SGOV - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 4.99%, less than SGOV's 5.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 4.99% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 5.23% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPAXX vs. SGOV - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, smaller than the maximum SGOV drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SPAXX and SGOV. For additional features, visit the drawdowns tool.
Volatility
SPAXX vs. SGOV - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while iShares 0-3 Month Treasury Bond ETF (SGOV) has a volatility of 0.08%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.