TW vs. SGOV
TW (Tradeweb Markets Inc.) 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, TW returned 2.84%/yr vs 3.58%/yr for SGOV. At a 0.04 correlation, their price movements are largely independent.
Performance
TW vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TW achieves a -10.46% return, which is significantly lower than SGOV's 1.72% return.
TW
- 1D
- -3.16%
- 1M
- -9.43%
- YTD
- -10.46%
- 6M
- -10.21%
- 1Y
- -31.79%
- 3Y*
- 11.89%
- 5Y*
- 2.84%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.72%
- 6M
- 1.79%
- 1Y
- 3.92%
- 3Y*
- 4.69%
- 5Y*
- 3.58%
- 10Y*
- —
TW vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TW Tradeweb Markets Inc. | -10.46% | -17.55% | 44.56% | 40.61% | -34.86% | 60.96% | 2.39% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.72% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between TW and SGOV is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | 0.04 |
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Return for Risk
TW vs. SGOV — Risk / Return Rank
TW
SGOV
TW vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradeweb Markets Inc. (TW) 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.
| TW | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -21.44 | ||
| Sortino ratioReturn per unit of downside risk | -275.17 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 194.05 | -193.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 395.07 | -396.00 |
| Martin ratioReturn relative to average drawdown | -1.42 | 4,426.92 | -4,428.34 |
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Drawdowns
TW vs. SGOV - Drawdown Comparison
The maximum TW drawdown since its inception was -48.64%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for TW and SGOV.
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Drawdown Indicators
| TW | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.64% | -0.03% | -48.61% |
Max Drawdown (1Y)Largest decline over 1 year | -34.09% | -0.01% | -34.08% |
Max Drawdown (3Y)Largest decline over 3 years | -35.19% | -0.01% | -35.18% |
Max Drawdown (5Y)Largest decline over 5 years | -48.64% | -0.03% | -48.61% |
Current DrawdownCurrent decline from peak | -35.19% | 0.00% | -35.19% |
Average DrawdownAverage peak-to-trough decline | -13.97% | -0.00% | -13.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.40% | 0.00% | +22.40% |
Volatility
TW vs. SGOV - Volatility Comparison
Tradeweb Markets Inc. (TW) has a higher volatility of 8.87% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that TW'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
| TW | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.87% | 0.04% | +8.83% |
Volatility (6M)Calculated over the trailing 6-month period | 21.44% | 0.13% | +21.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.58% | 0.19% | +28.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.60% | 0.24% | +26.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.14% | 0.24% | +29.90% |
Dividends
TW vs. SGOV - Dividend Comparison
TW's dividend yield for the trailing twelve months is around 0.54%, less than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% |
TW Tradeweb Markets Inc. | 0.54% | 0.45% | 0.31% | 0.40% | 0.49% | 0.32% | 0.51% | 0.52% |
Frequently Asked Questions
TW and SGOV have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TW has higher volatility (8.87%) compared to SGOV (0.04%). In terms of maximum drawdown, TW dropped -48.64% vs SGOV's -0.03%.
SGOV currently has the higher Sharpe Ratio (20.32 vs -1.12), 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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