Dividend comparison

SGOV vs SWVXX: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares 0-3 Month Treasury Bond ETF and Schwab Prime Advantage Money Fund - Investor, side by side. Updated October 21, 2026.

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SGOV vs SWVXX: key differences
The short answer, from the latest data on this page.
  • Income. Their trailing yields are almost the same: 3.64% for SGOV and 3.58% for SWVXX. Both pay monthly.
  • Performance. Over the last 3 years, SGOV returned 10.8% versus 1.7% for SWVXX, with dividends reinvested. $10,000 would have grown to $11,076 in SGOV and $10,173 in SWVXX.
  • Risk. Their worst declines over the last 3 years were similar: -0.6% for SGOV and 0.0% for SWVXX from peak to trough.
  • Dividend growth. SGOV grew its yearly payout 238.5% a year over the last 4 years, versus 223.8% for SWVXX.

Bottom line: SGOV has the edge on these figures, with stronger 3-year returns and faster dividend growth. SWVXX does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricSGOV
iShares 0-3 Month Treasury Bond ETF
SWVXX
Schwab Prime Advantage Money Fund - Investor
Dividend yield (TTM)3.64%3.58%
Dividend / share (TTM)$3.67$0.04
Payout frequencyMonthlyMonthly
Last dividend$0.3005 on Oct 6, 2026$0.0030 on Sep 30, 2026
Ex-dividend dateOct 1, 2026Sep 30, 2026
Dividend growth (CAGR)238.5% over 4 yrs223.8% over 4 yrs
Price$100.61$1.00
Beta0.000.02
Max drawdown (5Y)-0.6%0.0%
Market cap$96.06B$245.26B
ExchangeNYSENASDAQ
Expense ratio0.09%—
Assets under management$116.27B—
Number of holdings24—
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SGOV

$30.36/mo

$364 /yr at 3.64% yield

SWVXX

$29.84/mo

$358 /yr at 3.58% yield

Dividend history
Total dividends paid per share in each calendar year. SGOV pays monthly; SWVXX pays monthly.
YearSGOVSWVXX
2025$4.1157$0.0406
2024$5.1151$0.0500
2023$4.8826$0.0491
2022$1.4546$0.0156
2021$0.0313$0.0004
Strategy: Cash equivalent
Funds holding short-dated US government paper, where the objective is that the principal is there when you need it. Yield follows short-term interest rates with a short lag rather than being locked in, so income falls when the central bank cuts and rises when it hikes. Because the underlying holdings are nearly identical across providers, the expense ratio comes almost directly out of what you receive.

There is no growth here by design, and purchasing power erodes whenever the after-tax yield sits below inflation.

What SGOV vs SWVXX actually do

SGOV
An iShares fund holding US Treasury bills maturing within three months, used as a parking place for cash.

It tracks an ICE index of 0 to 3 month Treasury securities, so the entire portfolio rolls over every quarter and its yield tracks short-term rates with a short lag rather than being locked in. Interest accrues into the share price through the month and is paid out monthly, which is why the price ratchets up and then drops back by the distribution amount instead of trending. Because the holdings are direct Treasury obligations, the income is generally exempt from state and local tax.

Suits an emergency fund, a savings goal with a near-term date, or the cash sleeve of a portfolio waiting to be deployed. It is not an investment in any growth sense, and it will lose purchasing power to inflation whenever short rates sit below it.

Capital preservation

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Apr 17, 2023 would now be worth $11,374 in SGOV and $10,173 in SWVXX.
PeriodSGOVSWVXX
1 month0.02%0.00%
3 months0.03%0.00%
Year to date0.23%0.00%
1 year0.69%0.00%
3 years10.76%1.73%
5 years17.07%—
  • SGOV
  • SWVXX
991071152023202420252026114102

Both series indexed to 100 on 2023-04-17 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • SGOV
  • SWVXX
0%25%50%75%100%Cash & Others100.0%U.S. Treasury Debt99.5%Investment Company0.5%

Quick verdict

SGOV has the edge on these figures, with stronger 3-year returns and faster dividend growth. SWVXX does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is SGOV or SWVXX better for dividend income?
It depends on your goals. SGOV currently yields 3.64% Trailing Twelve Months (TTM) while SWVXX yields 3.58%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SGOV and SWVXX?
iShares 0-3 Month Treasury Bond ETF (SGOV) is an ETF listed on NYSE. Schwab Prime Advantage Money Fund - Investor (SWVXX) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which has performed better, SGOV or SWVXX?
Over the last 3 years, SGOV has the higher total return with dividends reinvested: SGOV returned 10.8% and SWVXX returned 1.7%. Past performance does not predict future returns.
Which is riskier, SGOV or SWVXX?
Measured by the worst peak-to-trough decline over the last five years, SGOV has been riskier: SGOV fell as much as 0.6% and SWVXX as much as 0.0%. Their betas are 0.00 and 0.02.
How often do SGOV and SWVXX pay dividends?
Both pay monthly. The most recent payments were $0.3005 for SGOV and $0.0030 for SWVXX.
How much income does $10,000 in SGOV vs SWVXX generate?
At current TTM yields, $10,000 in SGOV would generate roughly $30.36 per month ($364 annually). The same amount in SWVXX would produce about $29.84 per month ($358 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SGOV and SWVXX?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SGOV vs SWVXX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SGOV and SWVXX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.