SGOV vs BIL: returns, risk and drawdowns compared
iShares 0-3 Month Treasury Bond ETF against SPDR Bloomberg 1-3 Month T-Bill ETF, over the same 5 years (March 2021 to October 2026) with dividends reinvested.
Data updated October 2026
From March 2021 to October 2026, SGOV returned 3.4% a year and BIL 3.3% a year on average, so SGOV came out ahead by 0.1% a year. BIL was the more volatile of the two (0.7% against 0.6% a year), and the deepest falls from a month-end high were 0.0% for SGOV and 0.1% for BIL.
The correlation of monthly returns was 0.80: they usually moved together. Over 33 rolling 3-year periods, SGOV did better in 100% and BIL in 0%.
Side by side
| SGOV | BIL | |
|---|---|---|
| Annual return (CAGR) | +3.4% | +3.3% |
| Total return | +21% | +20% |
| Annual volatility | 0.6% | 0.7% |
| Maximum drawdown (month-end) | −0.0% | −0.1% |
| Worst month | −0.0% | −0.0% |
| Best month | +0.5% | +0.9% |
| Positive months | 94% | 81% |
| Best year | 2024: +5.3% | 2024: +5.2% |
| Worst year | 2022: +1.6% | 2022: +1.4% |
| 1-year return | +3.7% | +3.7% |
| 5 years, a year | +3.8% | +3.7% |
| 10 years, a year | — | +2.4% |
| Trading currency | USD | USD |
First nine rows: the same 68 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: SGOV vs BIL
Returns by calendar year
| Year | SGOV | BIL |
|---|---|---|
| 2025 | +4.2% | +4.2% |
| 2024 | +5.3% | +5.2% |
| 2023 | +5.1% | +5.0% |
| 2022 | +1.6% | +1.4% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, SGOV or BIL?
From March 2021 to October 2026, SGOV returned +3.4% a year and BIL +3.3% a year, with dividends reinvested. Over rolling 3-year periods SGOV did better in 100% of cases. Past returns do not predict future returns.
Which is riskier, SGOV or BIL?
Over the same months annual volatility was 0.6% for SGOV and 0.7% for BIL; the deepest fall from a month-end high was 0.0% and 0.1%, and the worst single month −0.0% and −0.0%.
How correlated are SGOV and BIL?
The correlation of their monthly returns was 0.80: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.