ETF Comparison
SGOV vs USFR: Which Is the Better Pick in 2026?
A head-to-head comparison of iShares 0-3 Month Treasury Bond ETF and WisdomTree Floating Rate Treasury Fund covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SGOV | USFR | |
|---|---|---|
| Full name | iShares 0-3 Month Treasury Bond ETF | WisdomTree Floating Rate Treasury Fund |
| Issuer | BlackRock | WisdomTree |
| Price | $100.39 | $50.34 |
| Distribution yield | 4.04% | 4.07% |
| Expense ratio | 0.09% | 0.15% |
| AUM | $75.0B | $16.0B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | ICE 0-3 Month US Treasury Securities Index | Bloomberg U.S. Treasury Floating Rate Bond Index |
| Objective | Treasury Bond | Track the performance of U.S. Treasury floating-rate notes (FRNs). |
| Asset class | Equity | Equity |
| Inception date | 05/26/2020 | 02/04/2014 |
| Beta | 0.0 | -0.02 |
| Last dividend | $0.29 | $0.15 |
| Ex-dividend date | 04/01/2026 | 03/26/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SGOV (iShares 0-3 Month Treasury Bond ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both popular monthly-pay treasury bond ETFs, but they take different approaches.
USFR offers the higher yield at 4.07% vs 4.04% for SGOV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SGOV is cheaper with an expense ratio of 0.09% compared to 0.15%.
They track different benchmarks: SGOV is linked to ICE 0-3 Month US Treasury Securities Index while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index, which means their performance drivers differ.
SGOV is the larger fund by assets ($75.0B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SGOV would generate roughly $33.67/month while USFR would produce $33.92/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, SGOV would cost approximately $90 in fees vs $150 for USFR (simplified, not compounded). The $60.00 difference may be offset by yield or performance.
Strategy & risk
SGOV tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index using a track the performance of u.s. treasury floating-rate notes (frns). strategy. Beta is 0.0 for SGOV and -0.02 for USFR, indicating USFR is less volatile relative to the market.
Fund details
SGOV is managed by BlackRock (launched 05/26/2020) with $75.0B in assets. USFR is managed by WisdomTree (launched 02/04/2014) with $16.0B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is SGOV or USFR better for dividend income?
It depends on your goals. USFR currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SGOV and USFR?
SGOV (iShares 0-3 Month Treasury Bond ETF) tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond strategy, while USFR (WisdomTree Floating Rate Treasury Fund) tracks Bloomberg U.S. Treasury Floating Rate Bond Index with a track the performance of u.s. treasury floating-rate notes (frns). approach. They are issued by BlackRock and WisdomTree respectively.
Can I hold both SGOV and USFR?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, SGOV or USFR?
SGOV has an expense ratio of 0.09% while USFR charges 0.15%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SGOV vs USFR generate?
At current yields, $10,000 in SGOV would generate roughly $33.67 per month ($404.00 annually). The same in USFR would produce about $33.92 per month ($407.00 annually).
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