SSG vs. SGOV
SSG (Proshares Ultrashort Semiconductors) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%), 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, SSG returned -66.24%/yr vs 3.58%/yr for SGOV. At a correlation of -0.00, they often move in opposite directions. SSG charges 0.95%/yr vs 0.09%/yr for SGOV.
Performance
SSG vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -58.97% return, which is significantly lower than SGOV's 1.71% return.
SSG
- 1D
- 12.02%
- 1M
- -11.92%
- YTD
- -58.97%
- 6M
- -57.87%
- 1Y
- -78.94%
- 3Y*
- -74.04%
- 5Y*
- -66.24%
- 10Y*
- -62.09%
SGOV
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.71%
- 6M
- 1.80%
- 1Y
- 3.92%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
SSG vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -58.97% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -57.07% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.71% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between SSG and SGOV is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.00 |
The correlation between SSG and SGOV shifts across timeframes, from -0.00 (5 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SSG vs. SGOV — Risk / Return Rank
SSG
SGOV
SSG vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) 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.
| SSG | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.48 | ||
| Sortino ratioReturn per unit of downside risk | -276.16 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 194.05 | -193.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 395.07 | -396.06 |
| Martin ratioReturn relative to average drawdown | -1.64 | 4,426.92 | -4,428.56 |
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Drawdowns
SSG vs. SGOV - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for SSG and SGOV.
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Drawdown Indicators
| SSG | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -0.03% | -99.97% |
Max Drawdown (1Y)Largest decline over 1 year | -79.92% | -0.01% | -79.91% |
Max Drawdown (3Y)Largest decline over 3 years | -98.56% | -0.01% | -98.55% |
Max Drawdown (5Y)Largest decline over 5 years | -99.66% | -0.03% | -99.63% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -88.60% | -0.00% | -88.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.14% | 0.00% | +51.14% |
Volatility
SSG vs. SGOV - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 33.37% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that SSG'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
| SSG | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.37% | 0.06% | +33.31% |
Volatility (6M)Calculated over the trailing 6-month period | 54.63% | 0.13% | +54.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.68% | 0.19% | +68.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.55% | 0.24% | +78.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.63% | 0.24% | +69.39% |
SSG vs. SGOV - Expense Ratio Comparison
SSG has a 0.95% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
SSG vs. SGOV - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 12.72%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SSG Proshares Ultrashort Semiconductors | 12.72% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SSG and SGOV have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (33.37%) compared to SGOV (0.06%). In terms of maximum drawdown, SSG dropped -100.00% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.58% vs -66.24% for SSG. On fees, SGOV is cheaper at 0.09% per year. 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, SGOV has performed better with a 3.58% return vs -66.24%. 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 0.95% for SSG.
SSG has the higher dividend yield at 12.72%, compared with 3.85% for SGOV.
SSG is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SSG and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.32 vs -1.15), 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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