SGOV vs SHV
iShares 0-3 Month Treasury Bond ETF vs iShares 0-1 Year Treasury Bond ETF
Quick Verdict
SGOV has a lower expense ratio. SGOV delivered stronger 1-year returns. SHV offers more diversification with 16 holdings.
Side-by-Side Comparison
| Metric | SGOV | SHV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.15% | |
| AUM | $99.7B | $20.8B | |
| Dividend Yield | 3.85% | 3.82% | |
| Holdings | 23 | 66 | |
| YTD Return | +1.89% | +1.80% | |
| 1Y Return | +3.53% | +3.45% | |
| 3Y Return (annualized) | +4.51% | +4.57% | |
| 5Y Return (annualized) | +3.62% | +3.48% | |
| Volatility (annualized) | 0.7% | 0.6% | |
| Max Drawdown | -0.3% | -0.9% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | May 26, 2020 | Jan 5, 2007 |
SGOV vs SHV Performance
iShares 0-3 Month Treasury Bond ETF (SGOV) is a ETF from iShares by BlackRock (US) and iShares 0-1 Year Treasury Bond ETF (SHV) is a ETF from iShares by BlackRock (US). Over the past year SGOV returned +3.53% while SHV returned +3.45%. Year to date, SGOV is up 1.89% versus a gain of 1.80% for SHV.
Over three years, SGOV compounded at +4.51% per year against +4.57% for SHV; over five years the annualized figures are +3.62% and +3.48% respectively. Across the full 6-year window we track, SGOV has the edge at +2.91% annualized vs +0.96%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SGOV has been the more volatile fund, with annualized monthly volatility of 0.7% compared with 0.6% for SHV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -0.3% for SGOV and -0.9% for SHV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SGOV charges 0.09% per year while SHV charges 0.15%. On a $10,000 position that is $9 vs $15 annually, a gap of $6 per year that compounds over a long holding period. On income, SGOV currently yields 3.85% against 3.82% for SHV.
Holdings Overlap
SGOV and SHV share 2 holdings out of 16 unique holdings combined, representing a 2.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SGOV | Weight in SHV | Difference |
|---|---|---|---|
| B 0 08/06/26 | 4.61% | 1.64% | 2.97% |
| XTSLA | 0.71% | 0.52% | 0.19% |
Frequently Asked Questions
Which is cheaper, SGOV or SHV?
SGOV has an expense ratio of 0.09% while SHV charges 0.15%. SGOV is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, SGOV or SHV?
Over the past year SGOV returned +3.53% vs +3.45% for SHV, so SGOV leads on 1-year performance. Over the longest common window we track (6 years), SGOV annualized +2.91% vs +0.96% for SHV. Past performance does not guarantee future results.
Which is riskier, SGOV or SHV?
SGOV has been the more volatile fund at 0.7% annualized versus 0.6% for SHV. Worst drawdown: SGOV -0.3% vs SHV -0.9%.
Should I hold both SGOV and SHV?
SGOV and SHV have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SGOV and SHV?
SGOV and SHV share 2 common holdings with a 2.2% weight overlap. Combined, they hold 16 unique securities.
Which pays a higher dividend, SGOV or SHV?
SGOV yields 3.85% while SHV yields 3.82%, so SGOV currently pays the higher dividend yield.
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