At a glance
SGOV’s holdings mature in 5 weeks on average and USFR’s in 1.5 years; they hold none of the same securities. SGOV costs less: 0.09% a year against 0.15% for USFR, or $90 against $150 on every $100,000. SGOV has $105.98B in assets and USFR $18.76B; over the past 12 months SGOV paid out 3.65% of its price and USFR 3.71%, both monthly. Over the past year SGOV returned +3.4% and USFR +4.1% with distributions reinvested; over five years, +3.8% and +4.1% a year.
Key differences
| SGOV | USFR | |
|---|---|---|
| Fund | iShares 0-3 Month Treasury Bond ETF | WisdomTree Floating Rate Treasury Fund |
| Issuer | iShares | WisdomTree |
| Structure | Open-end ETF | Open-end ETF |
| Type | Treasury bills | Floating rate |
| Launched | May 26, 2020 | Feb 4, 2014 |
| Expense ratio | 0.09% | 0.15% |
| Cost a year on $100,000 | $90 | $150 |
| Net assets | $105.98B | $18.76B |
| Holdings | 22 | 4 |
| Ten largest positions | 68.4% | 99.7% |
| Average maturity | 0.1 years | 1.5 years |
| Average coupon | 0% | 3.83% |
| Yield (12 months) | 3.65% | 3.71% |
| Pays | monthly | monthly |
| Portfolio turnover | 0% a year | 159% a year |
| Price data from | Feb 22, 2021 | Jun 2, 2020 |
Structure and tax notes
- Both: Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
Holdings and overlap
Overlap adds up, for every security both funds own, the smaller of its two weights: 100% would mean identical portfolios. Bond funds seldom own the same issues even when they behave alike; maturity and the kind of issuer say more.
By issuer
| Issuer | SGOV | USFR |
|---|---|---|
| US Treasury | 106.11% | 99.66% |
Returns
$10,000 put into SGOV on Feb 26, 2021 was worth $12,045 on Nov 2, 2026, and in USFR $12,201 (+3.3% and +3.6% a year). That is as far back as the price data for both goes.
| 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|
| SGOV price data to Nov 2, 2026 | +3.4% | +4.4% | +3.8% | — |
| SGOV official prospectus, to Dec 31, 2025 | +4.24% | — | +3.23% | — |
| USFR price data to Nov 2, 2026 | +4.1% | +4.6% | +4.1% | — |
| USFR official prospectus, to Dec 31, 2024 | +5.40% | — | +2.59% | +1.84% |
Calendar years
| Year | SGOV | USFR | Difference |
|---|---|---|---|
| 2026 | +2.8% * | +3.4% * | USFR +0.6 |
| 2025 | +4.2% | +4.2% | — |
| 2024 | +5.3% | +5.5% | USFR +0.3 |
| 2023 | +5.1% | +5.3% | USFR +0.1 |
| 2022 | +1.6% | +2.0% | USFR +0.4 |
| 2021 | +0.02% † | 0.0% | |
| 2020 | — | +0.52% † | |
| 2019 | — | +2.10% † | |
| 2018 | — | +1.80% † | |
| 2017 | — | +1.03% † |
Downturns and recovery
| SGOV | USFR | |
|---|---|---|
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before it launched | Before it launched |
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before it launched | Not in the price data (starts Jun 2, 2020) |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | No fall | −0.2% at the worst |
| Worst fall in the price data | −0.3% (Oct 30, 2026 – Nov 2, 2026) | −0.4% (Jul 23, 2024 – Jul 25, 2024) |
Income
| Year | SGOV | USFR |
|---|---|---|
| 2025 | $410 | $415 |
| 2024 | $511 | $523 |
| 2023 | $486 | $519 |
| 2022 | $146 | $180 |
Costs
SGOV charges 0.09% a year and USFR 0.15%: on $100,000 that is $60 a year less with SGOV ($300 on $500,000). The fee comes out of each fund's assets, so it is already in the returns above.
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SGOV | $9 | $29 | $51 | $115 |
| USFR | $15 | $48 | $85 | $192 |