TXN vs. SGOV

Last updated Jul 28, 2026

TXN (Texas Instruments Incorporated) 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, TXN returned 11.38%/yr vs 3.64%/yr for SGOV. Their -0.03 correlation means they have often moved in opposite directions in the past.

Performance

TXN vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Instruments Incorporated (TXN) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXN achieves a 62.93% return, which is significantly higher than SGOV's 2.05% return.

TXN

• 1D: -0.06%
• 1M: -2.11%
• 6M: 43.78%
• YTD: 62.93%
• 1Y: 55.28%
• 3Y*: 19.31%
• 5Y*: 11.38%
• 10Y*: 18.01%
• ALL TIME*: 11.22%

SGOV

• 1D: 0.01%
• 1M: 0.29%
• 6M: 1.80%
• YTD: 2.05%
• 1Y: 3.86%
• 3Y*: 4.63%
• 5Y*: 3.64%
• 10Y*: —
• ALL TIME*: 2.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SGOV iShares 0-3 Month Treasury Bond ETF	$1.66B	$1.91B	$2.04B
TXN Texas Instruments Incorporated	$2.38B	$2.41B	$2.60B

TXN vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TXN Texas Instruments Incorporated	62.93%	-4.47%	13.14%	6.41%	-9.86%	17.53%	41.27%
SGOV iShares 0-3 Month Treasury Bond ETF	2.05%	4.24%	5.27%	5.12%	1.58%	0.04%	0.04%

Correlation

The correlation between TXN and SGOV is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.15
Correlation (3Y) Balances recent behavior with more history.	-0.05
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.03
Correlation (All Time) Calculated using the full available price history since May 28, 2020	-0.03

The correlation between TXN and SGOV shifts across timeframes, from -0.15 (1 year) to -0.03 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TXN vs. SGOV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TXN

TXN Risk / Return Rank: 82
TXN Sharpe Ratio Rank: 83
TXN Sortino Ratio Rank: 83
TXN Omega Ratio Rank: 82
TXN Calmar Ratio Rank: 82
TXN Martin Ratio Rank: 80

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TXN vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Instruments Incorporated (TXN) 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.

	TXN	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	1.33	20.66	-19.33
Sortino ratio: Return per unit of downside risk	2.16	381.82	-379.66
Omega ratio: Gain probability vs. loss probability	1.27	382.06	-380.79
Calmar ratio: Return relative to maximum drawdown	2.23	389.90	-387.67
Martin ratio: Return relative to average drawdown	4.94	6,177.20	-6,172.25

TXN vs. SGOV - Sharpe Ratio Comparison

The current TXN Sharpe Ratio is 1.33, which is lower than the SGOV Sharpe Ratio of 20.66. The chart below compares the historical Sharpe Ratios of TXN and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TXN vs. SGOV - Drawdown Comparison

The maximum TXN drawdown since its inception was -85.81%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for TXN and SGOV.

Drawdown Indicators

	TXN	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-85.81%	-0.03%	-85.78%
Max Drawdown (1Y) Largest decline over 1 year	-24.93%	-0.01%	-24.92%
Max Drawdown (3Y) Largest decline over 3 years	-33.41%	-0.01%	-33.40%
Max Drawdown (5Y) Largest decline over 5 years	-33.41%	-0.03%	-33.38%
Max Drawdown (10Y) Largest decline over 10 years	-33.41%	—	—
Current Drawdown Current decline from peak	-15.91%	0.00%	-15.91%
Average Drawdown Average peak-to-trough decline	-34.73%	0.00%	-34.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.21%	0.00%	+11.21%

Volatility

TXN vs. SGOV - Volatility Comparison

Texas Instruments Incorporated (TXN) has a higher volatility of 14.34% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that TXN'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.

Volatility by Period

	TXN	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.34%	0.05%	+14.29%
Volatility (6M) Calculated over the trailing 6-month period	35.29%	0.13%	+35.16%
Volatility (1Y) Calculated over the trailing 1-year period	41.94%	0.19%	+41.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.31%	0.24%	+33.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.57%	0.24%	+31.33%

Dividends

TXN vs. SGOV - Dividend Comparison

TXN's dividend yield for the trailing twelve months is around 2.01%, 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%
TXN Texas Instruments Incorporated	2.01%	3.17%	2.81%	2.94%	2.84%	2.23%	2.27%	2.50%	2.78%	2.03%	2.25%	2.55%

Frequently Asked Questions

Can I hold both TXN and SGOV in my portfolio?

TXN and SGOV have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXN or SGOV?

TXN has higher volatility (14.34%) compared to SGOV (0.05%). In terms of maximum drawdown, TXN dropped -85.81% vs SGOV's -0.03%.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.66 vs 1.33), 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.