CLIP and SGOV do the same job: hold U.S. Treasury bills with one to three months to maturity and pay the interest out monthly. Global X runs CLIP against a Solactive 1-3 month bill index; iShares runs SGOV against an ICE 0-3 month bill index. With near-identical holdings, the decision comes down to expense ratio, trading spread, fund size and which brokerage perks apply.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
CLIP has outpaced SGOV over the trailing twelve months, posting a 3.76% total return against 3.72%. The lead holds up over 3 years too: CLIP has compounded at 4.53% a year, against 4.51% for SGOV. SGOV has been the steadier holding, though — annualized volatility of 0.2% against 0.4% for CLIP. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 12, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2023” measures every fund from June 21, 2023 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
Metric
CLIP
SGOV
Forward distribution rate
3.76%
3.59%
Trailing 12-month yield
3.73%
3.65%
30-day SEC yield
3.70%
—
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Short T-bill ETFs, from our catalog
SGOV tracks ICE 0-3 Month US Treasury Securities Index and pays monthly at a forward distribution rate of 3.59% with an expense ratio of 0.09%.
BIL, another short Treasury ETF in this catalog, tracks Bloomberg 1-3 Month U.S. Treasury Bill Index at a forward distribution rate of 3.45% (Monthly) with an expense ratio of 0.1353%.
These are interest-like cash rates, not equity dividends. A covered-call or dividend ETF can pay more, and it can also lose principal.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineCLIP and SGOV are nearly interchangeable — both offer very similar ultra short bond exposure with very similar cost and risk. The clearest tie-breaker is cost: CLIP is cheaper at 0.07% vs 0.09%.
CLIP vs SGOV: Two Treasury Bill ETFs Compared
CLIP and SGOV do the same job: hold U.S. Treasury bills with one to three months to maturity and pay the interest out monthly. Global X runs CLIP against a Solactive 1-3 month bill index; iShares runs SGOV against an ICE 0-3 month bill index. With near-identical holdings, the decision comes down to expense ratio, trading spread, fund size and which brokerage perks apply.
CLIP
SGOV
Approach
1-3 month Treasury bill ETF (Global X)
0-3 month Treasury bill ETF (iShares)
Risk review
Small market-price moves, bid-ask spread, reinvestment rates
Small market-price moves, bid-ask spread, reinvestment rates
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Global X is known for offering a diverse lineup of thematic and income-focused ETFs that cater to both traditional and alternative investment strategies. Their fund families span income generation through covered call strategies and SuperDividend funds, alongside thematic exposure in areas like digital assets, robotics, and emerging markets, complemented by bond and commodities offerings. The issuer provides broad coverage across sector-specific, risk-managed, and growth-oriented strategies, making their lineup particularly notable for investors seeking specialized exposure beyond conventional equity and fixed-income categories.
See our curated list of related YouTube videos on CLIP.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares, operated by BlackRock, is one of the largest and most established ETF providers globally, known for offering broad, liquid index-tracking funds across nearly all asset classes and investment styles. The lineup encompasses a comprehensive range of strategies including core equity and bond exposure, dividend and income-focused funds, covered call strategies, ESG and thematic investments, factor-based approaches, alternatives, commodities, and municipal bonds, serving both individual and institutional investors. With numerous popular ticker symbols and extensive diversification across geographies, sectors, and investment objectives, iShares provides one of the market's widest selections of ETFs for building diversified portfolios.
See our curated list of related YouTube videos on SGOV.
CLIP and SGOV do the same job: hold U.S. Treasury bills with one to three months to maturity and pay the interest out monthly. Global X runs CLIP against a Solactive 1-3 month bill index; iShares runs SGOV against an ICE 0-3 month bill index. With near-identical holdings, the decision comes down to expense ratio, trading spread, fund size and which brokerage perks apply.
Very little in what they hold. Both own short Treasury bills and both pay monthly, so their yields track the same bill rates. The differences are practical: compare the current expense ratios, the typical bid-ask spread in the size you trade, assets under management and average volume. A smaller fund can have a slightly wider spread, which matters more for frequent trading than for cash you park for months. Neither difference changes the underlying credit exposure.
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When holdings match, a yield gap between two funds on the same date is usually the index's maturity window, the timing of each fund's bill rollover and the expense ratio. Over a full month those differences are small. Judge the pair on costs you can see and on the account you will hold it in, not on which showed the higher number on one day.
Current metrics use the dated snapshot above. Distributions can vary and may include return of capital; a distribution rate is not an expected total return.
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Frequently asked questions
Is there any real difference between CLIP and SGOV?
Very little in what they hold. Both own short Treasury bills and both pay monthly, so their yields track the same bill rates. The differences are practical: compare the current expense ratios, the typical bid-ask spread in the size you trade, assets under management and average volume. A smaller fund can have a slightly wider spread, which matters more for frequent trading than for cash you park for months. Neither difference changes the underlying credit exposure.
How should I compare risk and ownership costs?
Expense ratio is the headline cost and is already inside each fund's 30-day SEC yield. The second cost is the spread you pay each time you trade, which depends on volume and order size; check live quotes for both. A distribution rate on this page annualizes one payout and will not separate two funds this similar.
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