# SGOV alternatives: 6 similar ETFs compared

> ETFs similar to SGOV, closest first, with each fund's fee, what it tracks, and returns and worst drops on the same dates as SGOV. Updated daily.

The ETFs most like SGOV are BIL, SHV and TFLO. BIL, SHV and TFLO hold US government bills and notes that pay back within months, so the price barely moves, like SGOV.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 16, 2026.

## Key points

- 6 funds can stand in for SGOV: 4 of the same kind and 2 related funds.
- SGOV charges 0.09% a year (about $9 on $10,000). The cheapest alternative here, VGSH, charges 0.03%.
- BIL moved most like SGOV: a daily correlation of 0.68 over about the last five years.
- Returns and drops for each pair use the same dates for both funds.

## SGOV alternatives at a glance

Each fund below can stand in for SGOV, closest first. "Same kind" funds hold the same kind of bonds through a different index. "Related" funds make a different bet that often moves the same way.

| ETF | How close | Yearly fee | Fee on $10,000 | Tracks |
| --- | --- | --- | --- | --- |
| **SGOV** | This fund | 0.09% | $9 | ICE 0-3 Month US Treasury Securities Index |
| [BIL](https://tactfolio.com/etf/BIL.md) | Same kind of fund | 0.1353% | $13.53 | Bloomberg 1-3 Month U.S. Treasury Bill Index |
| [SHV](https://tactfolio.com/etf/SHV.md) | Same kind of fund | 0.15% | $15 | ICE Short US Treasury Securities Index |
| [TFLO](https://tactfolio.com/etf/TFLO.md) | Same kind of fund | 0.15% | $15 | Bloomberg U.S. Treasury Floating Rate Index |
| [USFR](https://tactfolio.com/etf/USFR.md) | Same kind of fund | 0.15% | $15 | Bloomberg U.S. Treasury Floating Rate Bond Index |
| [VGSH](https://tactfolio.com/etf/VGSH.md) | Related fund | 0.03% | $3 | Bloomberg US Treasury 1-3 Year Bond Index |
| [SHY](https://tactfolio.com/etf/SHY.md) | Related fund | 0.15% | $15 | ICE U.S. Treasury 1-3 Year Bond Index |

Fees come from each fund company, checked on the dates shown on each fund's page.

## How SGOV and its alternatives did over the same dates

Each row measures the alternative and SGOV on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

| ETF | Moves with SGOV | Per year | SGOV per year | Worst drop | SGOV worst drop | Since |
| --- | --- | --- | --- | --- | --- | --- |
| [BIL](https://tactfolio.com/etf/BIL.md) | 0.68 | 2.9% | 3.0% | −0.1% | 0.0% | June 2020 |
| [SHV](https://tactfolio.com/etf/SHV.md) | 0.59 | 2.8% | 3.0% | −0.4% | 0.0% | June 2020 |
| [TFLO](https://tactfolio.com/etf/TFLO.md) | 0.38 | 3.1% | 3.0% | −0.1% | 0.0% | June 2020 |
| [USFR](https://tactfolio.com/etf/USFR.md) | 0.30 | 3.0% | 3.0% | −0.4% | 0.0% | June 2020 |
| [VGSH](https://tactfolio.com/etf/VGSH.md) | 0.13 | 1.5% | 3.0% | −5.7% | 0.0% | June 2020 |
| [SHY](https://tactfolio.com/etf/SHY.md) | 0.12 | 1.4% | 3.0% | −5.7% | 0.0% | June 2020 |

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## Each SGOV alternative, compared

### BIL: State Street SPDR Bloomberg 1-3 Month T-Bill ETF

BIL also holds US government bills and notes that pay back within months, so the price barely moves. It tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index, while SGOV tracks the ICE 0-3 Month US Treasury Securities Index.

It charges 0.1353% a year, about $13.53 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, BIL returned about 2.9% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved together, but not always (correlation 0.68).

Read the [BIL fund page](https://tactfolio.com/etf/BIL.md) for its returns by year and worst drop.

### SHV: iShares 0-1 Year Treasury Bond ETF

SHV also holds US government bills and notes that pay back within months, so the price barely moves. It tracks the ICE Short US Treasury Securities Index, while SGOV tracks the ICE 0-3 Month US Treasury Securities Index.

It charges 0.15% a year, about $15 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, SHV returned about 2.8% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved in different ways (correlation 0.59).

Read the [SHV fund page](https://tactfolio.com/etf/SHV.md) for its returns by year and worst drop.

### TFLO: iShares Treasury Floating Rate Bond ETF

TFLO also holds US government bills and notes that pay back within months, so the price barely moves. It tracks the Bloomberg U.S. Treasury Floating Rate Index, while SGOV tracks the ICE 0-3 Month US Treasury Securities Index.

It charges 0.15% a year, about $15 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, TFLO returned about 3.1% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved in different ways (correlation 0.38).

Read the [TFLO fund page](https://tactfolio.com/etf/TFLO.md) for its returns by year and worst drop.

### USFR: WisdomTree Floating Rate Treasury Fund

USFR also holds US government bills and notes that pay back within months, so the price barely moves. It tracks the Bloomberg U.S. Treasury Floating Rate Bond Index, while SGOV tracks the ICE 0-3 Month US Treasury Securities Index.

It charges 0.15% a year, about $15 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, USFR returned about 3.0% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved in different ways (correlation 0.30).

Read the [USFR fund page](https://tactfolio.com/etf/USFR.md) for its returns by year and worst drop.

### VGSH: Vanguard Short-Term Treasury ETF

VGSH is a looser match. It holds US government bonds that pay back in 1 to 3 years, while SGOV holds US government bills and notes that pay back within months, so the price barely moves.

It charges 0.03% a year, about $3 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, VGSH returned about 1.5% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved in different ways (correlation 0.13).

Read the [VGSH fund page](https://tactfolio.com/etf/VGSH.md) for its returns by year and worst drop.

### SHY: iShares 1-3 Year Treasury Bond ETF

SHY is a looser match. It holds US government bonds that pay back in 1 to 3 years, while SGOV holds US government bills and notes that pay back within months, so the price barely moves.

It charges 0.15% a year, about $15 on $10,000, against $9 for SGOV.

From June 2020 to October 2026, SHY returned about 1.4% a year and SGOV returned about 3.0% a year. Over about the last five years they often moved in different ways (correlation 0.12).

Read the [SHY fund page](https://tactfolio.com/etf/SHY.md) for its returns by year and worst drop.

## SGOV versions from other fund companies

Some people keep all their funds with one company. Here is the closest fund to SGOV from each other company on this page:

- **SPDR (State Street):** [BIL](https://tactfolio.com/etf/BIL.md), State Street SPDR Bloomberg 1-3 Month T-Bill ETF (same kind of fund, 0.1353% a year)
- **WisdomTree:** [USFR](https://tactfolio.com/etf/USFR.md), WisdomTree Floating Rate Treasury Fund (same kind of fund, 0.15% a year)
- **Vanguard:** [VGSH](https://tactfolio.com/etf/VGSH.md), Vanguard Short-Term Treasury ETF (related fund, 0.03% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company's index mutual fund, are not listed here.

## How to choose between SGOV and its alternatives

- **What it tracks.** A fund on the same index holds the same bonds. A different index can mean different weights, more or fewer holdings, or a different mix.
- **The fee.** The difference is often small. On $10,000, SGOV costs about $9 a year. VGSH costs about $3.
- **History.** An older fund has been through more bad markets, so you can see how far it fell.
- **What you already own.** Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

## Swapping SGOV to harvest a tax loss

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a "substantially identical" security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as BIL, SHV or TFLO, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in [Publication 550](https://www.irs.gov/publications/p550).

## Test SGOV and its alternatives in a backtest

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add SGOV and BIL, and see how each would have done on the same dates, or how a mix of both would have done.

## The details

Alternatives are picked from facts, not from returns. First come funds that track the same index as SGOV. Then come funds that hold the same kind of bonds through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like SGOV over about the last five years come first. Returns and worst drops use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with SGOV only on days both traded. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [Tactical asset allocation](https://tactfolio.com/learn/tactical-asset-allocation): What tactical asset allocation is, how it differs from strategic allocation, and what Faber's model did in 2008 and after, with dated backtest figures.
- [Trend following](https://tactfolio.com/learn/trend-following): What trend following is, the research back to 1880, five classic ETF trend rules with dated backtests, and the whipsaws and flat years that come with it.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What ETF is most similar to SGOV?

BIL is the closest. BIL also holds US government bills and notes that pay back within months, so the price barely moves. It tracks the Bloomberg 1-3 Month U.S. Treasury Bill Index, while SGOV tracks the ICE 0-3 Month US Treasury Securities Index. Over about the last five years they often moved together, but not always.

### Is there a cheaper alternative to SGOV?

Yes. VGSH charges 0.03% a year, against 0.09% for SGOV. On $10,000 that is about $3 a year instead of $9.

### Is SGOV or BIL better?

Neither is better for everyone. From June 2020 to October 2026, SGOV returned about 3.0% a year and BIL returned about 2.9% a year. SGOV charges 0.09% a year and BIL charges 0.1353%. Past returns do not tell you what comes next.

## Sources

- [iShares (BlackRock): iShares 0-3 Month Treasury Bond ETF fund page](https://www.ishares.com/us/products/314116/ishares-0-3-month-treasury-bond-etf)
- [SPDR (State Street): State Street SPDR Bloomberg 1-3 Month T-Bill ETF fund page](https://www.ssga.com/us/en/intermediary/etfs/state-street-spdr-bloomberg-1-3-month-t-bill-etf-bil)
- [iShares (BlackRock): iShares 0-1 Year Treasury Bond ETF fund page](https://www.ishares.com/us/products/239466/ishares-01-year-treasury-bond-etf)
- [iShares (BlackRock): iShares Treasury Floating Rate Bond ETF fund page](https://www.ishares.com/us/products/260652/ishares-treasury-floating-rate-bond-etf)
- [WisdomTree: WisdomTree Floating Rate Treasury Fund fund page](https://www.sec.gov/Archives/edgar/data/1350487/000121465926012371/usfr926497k.htm)
- [Vanguard: Vanguard Short-Term Treasury ETF fund page](https://investor.vanguard.com/investment-products/etfs/profile/vgsh)
- [iShares (BlackRock): iShares 1-3 Year Treasury Bond ETF fund page](https://www.ishares.com/us/products/239452/ishares-1-3-year-treasury-bond-etf)
- [IRS Publication 550: wash sales](https://www.irs.gov/publications/p550)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.