SPTU vs. SGOV

Last updated Jun 3, 2026

SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both Ultrashort Bond funds - SPTU tracks the ICE BofA US Treasury Bill Index while SGOV tracks the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. At a 0.19 correlation, their price movements are largely independent. SPTU charges 0.05%/yr vs 0.09%/yr for SGOV.

Performance

SPTU vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPTU having a 1.48% return and SGOV slightly higher at 1.50%.

SPTU

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.48%
• 6M: 1.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.50%
• 6M: 1.80%
• 1Y: 3.95%
• 3Y*: 4.72%
• 5Y*: 3.53%
• 10Y*: —

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

SPTU vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	1.48%	0.92%
SGOV iShares 0-3 Month Treasury Bond ETF	1.50%	0.91%

Correlation

The correlation between SPTU and SGOV is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.19

Return for Risk

SPTU vs. SGOV — 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

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.

SPTU vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPTU	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	11.88	12.48	-0.60

Drawdowns

SPTU vs. SGOV - Drawdown Comparison

The maximum SPTU drawdown since its inception was -0.04%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SPTU and SGOV.

Drawdown Indicators

	SPTU	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.03%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
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%	—

Volatility

Volatility by Period

	SPTU	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	0.20%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.32%	0.24%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.32%	0.24%	+0.08%

SPTU vs. SGOV - Expense Ratio Comparison

SPTU has a 0.05% expense ratio, which is lower than SGOV's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPTU vs. SGOV - Dividend Comparison

SPTU's dividend yield for the trailing twelve months is around 2.36%, less than SGOV's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SGOV iShares 0-3 Month Treasury Bond ETF	3.86%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF	2.36%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTU and SGOV in my portfolio?

SPTU and SGOV have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPTU or SGOV?

On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPTU or SGOV?

SPTU is cheaper with a 0.05% expense ratio, compared with 0.09% for SGOV.

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

SGOV has the higher dividend yield at 3.86%, compared with 2.36% for SPTU.

What is the main difference between SPTU and SGOV?

SPTU tracks ICE BofA US Treasury Bill 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: 0.05% for SPTU and 0.09% for SGOV.