SPXT vs. SGOV
SPXT (ProShares S&P 500 Ex-Technology ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - SPXT is a S&P 500 fund tracking the S&P 500 Ex-Information Technology 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, SPXT returned 9.46%/yr vs 3.58%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. Both charge a 0.09% expense ratio.
Performance
SPXT vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SPXT achieves a 3.53% return, which is significantly higher than SGOV's 1.70% return.
SPXT
- 1D
- -0.56%
- 1M
- -1.26%
- YTD
- 3.53%
- 6M
- 2.99%
- 1Y
- 16.56%
- 3Y*
- 16.02%
- 5Y*
- 9.46%
- 10Y*
- 11.61%
SGOV
- 1D
- 0.01%
- 1M
- 0.27%
- YTD
- 1.70%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
SPXT vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPXT ProShares S&P 500 Ex-Technology ETF | 3.53% | 15.10% | 19.93% | 16.23% | -14.24% | 26.36% | 21.10% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.70% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between SPXT and SGOV is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.03 |
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Return for Risk
SPXT vs. SGOV — Risk / Return Rank
SPXT
SGOV
SPXT vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) 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.
| SPXT | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.80 | ||
| Sortino ratioReturn per unit of downside risk | -272.01 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 194.55 | -193.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 396.11 | -394.00 |
| Martin ratioReturn relative to average drawdown | 9.07 | 4,438.60 | -4,429.53 |
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Drawdowns
SPXT vs. SGOV - Drawdown Comparison
The maximum SPXT drawdown since its inception was -34.38%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SPXT and SGOV.
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Drawdown Indicators
| SPXT | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.38% | -0.03% | -34.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -0.01% | -7.89% |
Max Drawdown (3Y)Largest decline over 3 years | -15.58% | -0.01% | -15.57% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | -0.03% | -21.44% |
Max Drawdown (10Y)Largest decline over 10 years | -34.38% | — | — |
Current DrawdownCurrent decline from peak | -1.96% | 0.00% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -0.00% | -4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 0.00% | +1.83% |
Volatility
SPXT vs. SGOV - Volatility Comparison
ProShares S&P 500 Ex-Technology ETF (SPXT) has a higher volatility of 3.49% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that SPXT'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
| SPXT | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 0.06% | +3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 7.91% | 0.13% | +7.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 0.19% | +10.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 0.24% | +14.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.25% | 0.24% | +16.01% |
SPXT vs. SGOV - Expense Ratio Comparison
Both SPXT and SGOV have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPXT vs. SGOV - Dividend Comparison
SPXT's dividend yield for the trailing twelve months is around 1.38%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPXT ProShares S&P 500 Ex-Technology ETF | 1.38% | 1.38% | 1.29% | 1.53% | 1.86% | 1.15% | 1.63% | 1.63% | 2.03% | 1.55% | 2.67% | 0.56% |
Frequently Asked Questions
SPXT and SGOV have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPXT has higher volatility (3.49%) compared to SGOV (0.06%). In terms of maximum drawdown, SPXT dropped -34.38% vs SGOV's -0.03%.
On 5-year performance, SPXT leads with 9.46% vs 3.58% for SGOV. Both ETFs have the same 0.09% expense ratio. On volatility, SGOV has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPXT has performed better with a 9.46% return vs 3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXT and SGOV have the same expense ratio: 0.09% per year.
SGOV has the higher dividend yield at 3.85%, compared with 1.38% for SPXT.
SPXT is categorized as S&P 500, while SGOV is Ultrashort Bond. SPXT tracks S&P 500 Ex-Information Technology Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: ProShares and iShares.
SGOV currently has the higher Sharpe Ratio (20.38 vs 1.58), 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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