TCEHY vs. SGOV
TCEHY (Tencent Holdings Limited) is a stock, while SGOV (iShares 0-3 Month Treasury Bond ETF) is Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Over the past 5 years, TCEHY returned -1.43%/yr vs 3.63%/yr for SGOV. At a 0.03 correlation, their price movements are largely independent.
Performance
TCEHY vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TCEHY achieves a -21.95% return, which is significantly lower than SGOV's 1.98% return.
TCEHY
- 1D
- -3.61%
- 1M
- 5.98%
- 6M
- -23.98%
- YTD
- -21.95%
- 1Y
- -9.84%
- 3Y*
- 12.52%
- 5Y*
- -1.43%
- 10Y*
- 11.06%
SGOV
- 1D
- 0.03%
- 1M
- 0.32%
- 6M
- 1.79%
- YTD
- 1.98%
- 1Y
- 3.89%
- 3Y*
- 4.67%
- 5Y*
- 3.63%
- 10Y*
- —
TCEHY vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCEHY Tencent Holdings Limited | -21.95% | 45.23% | 41.92% | -5.48% | -24.97% | -18.69% | 34.17% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.98% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between TCEHY 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 | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.03 |
The correlation between TCEHY and SGOV shifts across timeframes, from -0.08 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TCEHY vs. SGOV — Risk / Return Rank
TCEHY
SGOV
TCEHY vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tencent Holdings Limited (TCEHY) 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.
| TCEHY | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.19 | ||
| Sortino ratioReturn per unit of downside risk | -385.06 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 385.05 | -384.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 393.03 | -393.29 |
| Martin ratioReturn relative to average drawdown | -0.49 | 6,226.73 | -6,227.22 |
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Drawdowns
TCEHY vs. SGOV - Drawdown Comparison
The maximum TCEHY drawdown since its inception was -73.17%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for TCEHY and SGOV.
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Drawdown Indicators
| TCEHY | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.17% | -0.03% | -73.14% |
Max Drawdown (1Y)Largest decline over 1 year | -38.23% | -0.01% | -38.22% |
Max Drawdown (3Y)Largest decline over 3 years | -38.23% | -0.01% | -38.22% |
Max Drawdown (5Y)Largest decline over 5 years | -62.10% | -0.03% | -62.07% |
Max Drawdown (10Y)Largest decline over 10 years | -73.17% | — | — |
Current DrawdownCurrent decline from peak | -32.71% | 0.00% | -32.71% |
Average DrawdownAverage peak-to-trough decline | -19.80% | -0.00% | -19.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.20% | 0.00% | +20.20% |
Volatility
TCEHY vs. SGOV - Volatility Comparison
Tencent Holdings Limited (TCEHY) has a higher volatility of 11.59% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that TCEHY'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
| TCEHY | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 0.05% | +11.54% |
Volatility (6M)Calculated over the trailing 6-month period | 26.00% | 0.13% | +25.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.65% | 0.19% | +32.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.31% | 0.24% | +43.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.91% | 0.24% | +38.67% |
Dividends
TCEHY vs. SGOV - Dividend Comparison
TCEHY's dividend yield for the trailing twelve months is around 1.15%, less than SGOV's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.80% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TCEHY Tencent Holdings Limited | 1.15% | 0.76% | 0.82% | 6.67% | 4.15% | 0.35% | 0.19% | 0.23% | 0.26% | 0.29% | 0.51% | 0.21% |
Frequently Asked Questions
TCEHY 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.
TCEHY has higher volatility (11.59%) compared to SGOV (0.05%). In terms of maximum drawdown, TCEHY dropped -73.17% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.89 vs -0.30), 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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