USD=X vs. SGOV

Last updated Jun 6, 2026

USD=X (USD Cash) is a currency, 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, USD=X returned 0.00%/yr vs 3.54%/yr for SGOV.

Performance

USD=X vs. SGOV - Performance Comparison

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

Returns By Period

USD=X

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 0.00%
• 5Y*: 0.00%
• 10Y*: 0.00%

SGOV

• 1D: 0.03%
• 1M: 0.31%
• YTD: 1.55%
• 6M: 1.79%
• 1Y: 3.97%
• 3Y*: 4.72%
• 5Y*: 3.54%
• 10Y*: —

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

USD=X vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
USD=X USD Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	1.55%	4.24%	5.27%	5.12%	1.58%	0.04%	0.05%

Return for Risk

USD=X vs. SGOV — Risk / Return Rank

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

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.

USD=X vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USD=X	SGOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	20.34	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	14.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	12.50	—

Drawdowns

USD=X vs. SGOV - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum SGOV drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for USD=X and SGOV.

Drawdown Indicators

	USD=X	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-0.03%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-0.01%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-0.01%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-0.03%	+0.03%
Max Drawdown (10Y) Largest decline over 10 years	0.00%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

USD=X vs. SGOV - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while iShares 0-3 Month Treasury Bond ETF (SGOV) has a volatility of 0.06%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD=X	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.06%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	0.13%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	0.20%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	0.24%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	0.24%	-0.24%

Frequently Asked Questions

Which is riskier, USD=X or SGOV?

SGOV has higher volatility (0.06%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs SGOV's -0.03%.