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 -3.81%/yr vs 3.54%/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 -23.11% return, which is significantly lower than SGOV's 1.52% return.
TCEHY
- 1D
- 0.09%
- 1M
- -2.45%
- YTD
- -23.11%
- 6M
- -24.66%
- 1Y
- -10.45%
- 3Y*
- 11.74%
- 5Y*
- -3.81%
- 10Y*
- 11.45%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
TCEHY vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCEHY Tencent Holdings Limited | -23.11% | 45.23% | 41.92% | -5.48% | -24.97% | -18.69% | 37.59% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between TCEHY 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 | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | 0.03 |
The correlation between TCEHY and SGOV shifts across timeframes, from -0.07 (1 year) to 0.04 (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.
| TCEHY | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.62 | ||
| Sortino ratioReturn per unit of downside risk | -276.01 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 195.55 | -194.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 398.20 | -398.48 |
| Martin ratioReturn relative to average drawdown | -0.63 | 4,462.00 | -4,462.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TCEHY | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.34 | 20.28 | -20.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 14.74 | -14.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 12.49 | -11.84 |
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 | -36.75% | -0.01% | -36.74% |
Max Drawdown (3Y)Largest decline over 3 years | -36.75% | -0.01% | -36.74% |
Max Drawdown (5Y)Largest decline over 5 years | -66.67% | -0.03% | -66.64% |
Max Drawdown (10Y)Largest decline over 10 years | -73.17% | — | — |
Current DrawdownCurrent decline from peak | -33.71% | 0.00% | -33.71% |
Average DrawdownAverage peak-to-trough decline | -19.66% | -0.00% | -19.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.68% | 0.00% | +16.68% |
Volatility
TCEHY vs. SGOV - Volatility Comparison
Tencent Holdings Limited (TCEHY) has a higher volatility of 12.73% 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 | 12.73% | 0.05% | +12.68% |
Volatility (6M)Calculated over the trailing 6-month period | 24.43% | 0.13% | +24.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.75% | 0.20% | +30.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.23% | 0.24% | +42.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.83% | 0.24% | +38.59% |
Dividends
TCEHY vs. SGOV - Dividend Comparison
TCEHY's dividend yield for the trailing twelve months is around 1.16%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 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 | 1.16% | 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 -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCEHY has higher volatility (12.73%) 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 (20.28 vs -0.34), 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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