# SGOV ETF: fees, returns, drawdowns and holdings

> What SGOV holds, its 0.09% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

iShares 0-3 Month Treasury Bond ETF (SGOV) is an exchange-traded fund (ETF) run by iShares (BlackRock). This fund lends money to the US government for up to three months at a time by owning Treasury bills. It charges 0.09% a year. From June 2020 to October 2026 it returned about 3.0% a year, and its worst drop was 0.0%.

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

- Expense ratio: 0.09% a year (about $9 on $10,000).
- Started trading on May 26, 2020.
- Last close: $100.59 on October 16, 2026.
- Return over the last year: 3.8%.
- Worst drop since 2020: 0.0%.
- No Tactfolio classic strategies hold it.

## How has SGOV done since 2020?

From June 2020 to October 2026, SGOV returned about 3.0% a year. The S&P 500 returned about 17.1% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $12,072 at the end, with every dividend reinvested.

| Period | SGOV | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | 0.3% | 1.5% |
| 3 months | 0.9% | 1.9% |
| 6 months | 1.9% | 9.3% |
| Year to date | 2.9% | 12.8% |
| 1 year | 3.8% | 16.8% |
| 3 years, per year | 4.5% | 22.0% |
| 5 years, per year | 3.8% | 12.8% |
| Since 2020, per year | 3.0% | 17.1% |

Periods longer than a year show the return per year (CAGR). 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.

## SGOV returns by month and year

SGOV rose in 65 of its 77 months (84%). Its best month was August 2023, at 0.5%. Its worst was October 2020, at 0.0%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% |  |  | 2.9% |
| 2025 | 0.4% | 0.3% | 0.3% | 0.4% | 0.4% | 0.3% | 0.4% | 0.4% | 0.3% | 0.4% | 0.3% | 0.4% | 4.2% |
| 2024 | 0.4% | 0.4% | 0.4% | 0.4% | 0.5% | 0.4% | 0.4% | 0.5% | 0.4% | 0.4% | 0.4% | 0.4% | 5.3% |
| 2023 | 0.3% | 0.4% | 0.4% | 0.3% | 0.4% | 0.5% | 0.4% | 0.5% | 0.4% | 0.4% | 0.5% | 0.4% | 5.1% |
| 2022 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.3% | 0.4% | 1.6% |
| 2021 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| 2020 (part) |  |  |  |  |  | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is SGOV compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 0.00.** When the S&P 500 moved 1% in a day, SGOV tended to move about 0.00%.
- **Correlation -0.01.** SGOV moved mostly on its own, apart from the S&P 500.
- **Up and down months.** In months the S&P 500 rose, SGOV rose 9% as much on average. In months it fell, SGOV rose on average.

| Measure | SGOV | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 3.8% | 12.8% |
| Volatility | 0.2% | 17.1% |
| Worst drop | 0.0% | −24.5% |
| Sharpe ratio | 15.94 | 0.79 |
| Sortino ratio | 98.89 | 1.15 |
| Calmar ratio | 127.70 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is SGOV above its 200-day average?

SGOV closed 1.5% above its 200-day average on October 16, 2026. A rule that holds SGOV only above that average would hold it today.

- Its 50-day average is 1.1% above its 200-day average.
- It closed at its highest price of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for SGOV](https://tactfolio.com/builder) and backtest it in a minute.

## What was SGOV's worst drop?

A drawdown is how far a fund falls from its last high point. SGOV's worst fall was 0.0%, from August 22, 2022 to August 23, 2022. It got back to that high on August 25, 2022. On October 16, 2026 it closed at a new high.

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does SGOV hold?

This fund lends money to the US government for up to three months at a time by owning Treasury bills. Its price usually stays steady and it pays interest each month. When short term interest rates fall, its income falls too.

It tracks the ICE 0-3 Month US Treasury Securities Index.

| Fact | SGOV |
| --- | --- |
| Full name | iShares 0-3 Month Treasury Bond ETF |
| Issuer | iShares (BlackRock) |
| Expense ratio | 0.09% a year |
| Started trading | May 26, 2020 |
| Tracks | ICE 0-3 Month US Treasury Securities Index |
| Type | Cash and T-bills, ETF |
| Facts checked | October 17, 2026 on the [iShares (BlackRock) fund page](https://www.ishares.com/us/products/314116/ishares-0-3-month-treasury-bond-etf) |

## What is the SGOV expense ratio?

SGOV charges 0.09% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.09% fee comes to about $9 a year. Of the 162 ETFs on Tactfolio, 52% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold SGOV?

No classic strategy holds SGOV yet. You can add it to your own rules in the [builder](https://tactfolio.com/builder) and see how they would have done.

## How does SGOV compare with similar ETFs?

Funds that can stand in for SGOV:

- [BIL](https://tactfolio.com/etf/BIL.md): State Street SPDR Bloomberg 1-3 Month T-Bill ETF, 0.1353% a year
- [SHV](https://tactfolio.com/etf/SHV.md): iShares 0-1 Year Treasury Bond ETF, 0.15% a year
- [TFLO](https://tactfolio.com/etf/TFLO.md): iShares Treasury Floating Rate Bond ETF, 0.15% a year
- [USFR](https://tactfolio.com/etf/USFR.md): WisdomTree Floating Rate Treasury Fund, 0.15% a year

See [all 6 SGOV alternatives](https://tactfolio.com/alternatives/SGOV.md), compared on the same dates as SGOV.

## Test SGOV in your own rules

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 see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for SGOV and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from iShares (BlackRock). We checked them on October 17, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.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 is the expense ratio of SGOV?

SGOV charges 0.09% a year, according to iShares (BlackRock) as of October 17, 2026. That is about $9 a year for every $10,000 you hold.

### When did SGOV start trading?

SGOV started trading on May 26, 2020. It is run by iShares (BlackRock).

### What does SGOV track?

SGOV tracks the ICE 0-3 Month US Treasury Securities Index. This fund lends money to the US government for up to three months at a time by owning Treasury bills.

### How much has SGOV returned per year?

From June 2020 to October 2026, SGOV returned about 3.0% a year with dividends reinvested. Its worst drop was 0.0%. Past returns do not tell you what it will do next.

### Is SGOV above its 200-day moving average?

On October 16, 2026, SGOV closed 1.5% above its 200-day moving average. This page updates after each US market close.

### Which strategies use SGOV?

None of Tactfolio's classic strategies hold SGOV yet. You can test it in your own rules in the builder.

## 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)

> 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.