VGVT vs. SGOV

Last updated Jul 14, 2026

VGVT (Vanguard Government Securities Active ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - VGVT is a Intermediate Core Bond fund actively managed by Vanguard, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. VGVT is actively managed, while SGOV is passively managed. Over the past year, VGVT returned 3.46% vs 3.88% for SGOV. At a correlation of -0.06, they often move in opposite directions. VGVT charges 0.10%/yr vs 0.09%/yr for SGOV.

Performance

VGVT vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Government Securities Active ETF (VGVT) 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, VGVT achieves a -0.14% return, which is significantly lower than SGOV's 1.92% return.

VGVT

• 1D: -0.19%
• 1M: -0.33%
• 6M: -0.37%
• YTD: -0.14%
• 1Y: 3.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.80%
• YTD: 1.92%
• 1Y: 3.88%
• 3Y*: 4.66%
• 5Y*: 3.62%
• 10Y*: —

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

VGVT vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
VGVT Vanguard Government Securities Active ETF	-0.14%	3.56%
SGOV iShares 0-3 Month Treasury Bond ETF	1.92%	1.98%

Correlation

The correlation between VGVT and SGOV is -0.05, 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	-0.05
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	-0.06

Return for Risk

VGVT vs. SGOV — Risk / Return Rank

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

VGVT

VGVT Risk / Return Rank: 34
VGVT Sharpe Ratio Rank: 36
VGVT Sortino Ratio Rank: 38
VGVT Omega Ratio Rank: 34
VGVT Calmar Ratio Rank: 31
VGVT Martin Ratio Rank: 29

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.

VGVT vs. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Government Securities Active ETF (VGVT) 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.

	VGVT	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	1.07	20.83	-19.76
Sortino ratio: Return per unit of downside risk	1.60	383.82	-382.22
Omega ratio: Gain probability vs. loss probability	1.19	384.06	-382.87
Calmar ratio: Return relative to maximum drawdown	1.25	391.99	-390.73
Martin ratio: Return relative to average drawdown	3.30	6,210.22	-6,206.92

VGVT vs. SGOV - Sharpe Ratio Comparison

The current VGVT Sharpe Ratio is 1.07, which is lower than the SGOV Sharpe Ratio of 20.83. The chart below compares the historical Sharpe Ratios of VGVT 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

VGVT vs. SGOV - Drawdown Comparison

The maximum VGVT drawdown since its inception was -2.77%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for VGVT and SGOV.

Drawdown Indicators

	VGVT	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-2.77%	-0.03%	-2.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.77%	-0.01%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	-2.00%	0.00%	-2.00%
Average Drawdown Average peak-to-trough decline	-0.77%	-0.00%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	0.00%	+1.05%

Volatility

VGVT vs. SGOV - Volatility Comparison

Vanguard Government Securities Active ETF (VGVT) has a higher volatility of 1.02% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that VGVT'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

	VGVT	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.05%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	0.13%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	0.19%	+3.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	0.24%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	0.24%	+3.01%

VGVT vs. SGOV - Expense Ratio Comparison

VGVT has a 0.10% expense ratio, which is higher than SGOV's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VGVT vs. SGOV - Dividend Comparison

VGVT's dividend yield for the trailing twelve months is around 4.38%, more than SGOV's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SGOV iShares 0-3 Month Treasury Bond ETF	3.80%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%
VGVT Vanguard Government Securities Active ETF	4.38%	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VGVT and SGOV in my portfolio?

VGVT and SGOV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGVT or SGOV?

VGVT has higher volatility (1.02%) compared to SGOV (0.05%). In terms of maximum drawdown, VGVT dropped -2.77% vs SGOV's -0.03%.

Which ETF is better, VGVT or SGOV?

On 1-year performance, SGOV leads with 3.88% vs 3.46% for VGVT. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VGVT or SGOV?

Over the 1-year period, SGOV has performed better with a 3.88% return vs 3.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VGVT or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.10% for VGVT.

Which ETF pays a higher dividend yield, VGVT or SGOV?

VGVT has the higher dividend yield at 4.38%, compared with 3.80% for SGOV.

What is the main difference between VGVT and SGOV?

VGVT is categorized as Intermediate Core Bond, while SGOV is Ultrashort Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VGVT and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.83 vs 1.07), 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.