SRLN vs. SGOV
SRLN (State Street Blackstone Senior Loan ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - SRLN is a Bank Loan fund actively managed by State Street, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. SRLN is actively managed, while SGOV is passively managed. Over the past 5 years, SRLN returned 4.52%/yr vs 3.56%/yr for SGOV. At a correlation of -0.02, they often move in opposite directions. SRLN charges 0.70%/yr vs 0.09%/yr for SGOV.
Performance
SRLN vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SRLN achieves a 0.50% return, which is significantly lower than SGOV's 1.61% return.
SRLN
- 1D
- 0.00%
- 1M
- -0.16%
- YTD
- 0.50%
- 6M
- 0.94%
- 1Y
- 5.31%
- 3Y*
- 7.44%
- 5Y*
- 4.52%
- 10Y*
- 4.52%
SGOV
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.91%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
SRLN vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SRLN State Street Blackstone Senior Loan ETF | 0.50% | 6.77% | 8.43% | 11.62% | -5.30% | 4.49% | 9.52% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between SRLN and SGOV is -0.07, 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 | -0.07 |
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 | -0.02 |
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Return for Risk
SRLN vs. SGOV — Risk / Return Rank
SRLN
SGOV
SRLN vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Blackstone Senior Loan ETF (SRLN) 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.
| SRLN | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.47 | ||
| Sortino ratioReturn per unit of downside risk | -273.07 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 195.55 | -194.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 398.20 | -396.59 |
| Martin ratioReturn relative to average drawdown | 5.93 | 4,461.98 | -4,456.05 |
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Drawdowns
SRLN vs. SGOV - Drawdown Comparison
The maximum SRLN drawdown since its inception was -22.29%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SRLN and SGOV.
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Drawdown Indicators
| SRLN | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.29% | -0.03% | -22.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.26% | -0.01% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -0.01% | -4.25% |
Max Drawdown (5Y)Largest decline over 5 years | -7.93% | -0.03% | -7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -22.29% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -1.10% | -0.00% | -1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.00% | +0.88% |
Volatility
SRLN vs. SGOV - Volatility Comparison
State Street Blackstone Senior Loan ETF (SRLN) has a higher volatility of 0.53% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that SRLN'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
| SRLN | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.05% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 0.13% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.90% | 0.20% | +2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.91% | 0.24% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.06% | 0.24% | +5.82% |
SRLN vs. SGOV - Expense Ratio Comparison
SRLN has a 0.70% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
SRLN vs. SGOV - Dividend Comparison
SRLN's dividend yield for the trailing twelve months is around 7.51%, more 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% |
SRLN State Street Blackstone Senior Loan ETF | 7.51% | 7.67% | 8.58% | 8.44% | 5.72% | 4.45% | 4.91% | 5.39% | 4.98% | 4.01% | 3.94% | 4.43% |
Frequently Asked Questions
SRLN 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.
SRLN has higher volatility (0.53%) compared to SGOV (0.05%). In terms of maximum drawdown, SRLN dropped -22.29% vs SGOV's -0.03%.
On 5-year performance, SRLN leads with 4.52% vs 3.56% 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, SRLN has performed better with a 4.52% return vs 3.56%. 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 0.70% for SRLN.
SRLN has the higher dividend yield at 7.51%, compared with 3.85% for SGOV.
SRLN is categorized as Bank Loan, while SGOV is Ultrashort Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.70% for SRLN and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 1.80), 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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