G Fund vs
Backtest G Fund vs SGOVJun 1, 2020 – Oct 2, 2026, TSP-G for the G Fund, SGOV for SGOV, SGOV sets the start date
Growth of $10,000
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Key metrics
| Return | G Fund | SGOV |
|---|---|---|
| Final balance | $12,326 | $12,054 |
| Total return | +23.26% | +20.54% |
| CAGR | +3.36% | +2.99% |
| Calendar years | G Fund | SGOV |
|---|---|---|
| Best year | +4.44% | +5.28% |
| Worst year | +1.38% | +0.04% |
| Positive years | 5 of 5 | 5 of 5 |
| Risk | G Fund | SGOV |
|---|---|---|
| Max drawdown | 0.00% | −0.03% |
| Longest drawdown | None | 1 month |
| Volatility (annualized) | 0.17% | 0.23% |
| Risk-adjusted | G Fund | SGOV |
|---|---|---|
| Sharpe ratio | 19.80 | 12.66 |
| Sortino ratio | — | 68.78 |
| Calmar ratio | — | 99.88 |
Trailing returns
| Period | G Fund | SGOV | G Fund − SGOV |
|---|---|---|---|
| YTD | +3.44% | +2.77% | +0.68% |
| 1Y | +4.52% | +3.78% | +0.74% |
| 3Y | +4.50% | +4.55% | −0.04% |
| 5Y | +3.98% | +3.79% | +0.18% |
Rolling returns
| Period | G Fund median | SGOV median | More often ahead |
|---|---|---|---|
| 1Y | +4.24% | +4.08% | G Fund 58% |
| 3Y | +3.96% | +4.11% | SGOV 58% |
| 5Y | +3.54% | +3.29% | G Fund 100% |
Worst drawdowns · G Fund
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| None | ||||
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| None | ||||
Annual returns
| Year | G Fund | SGOV | G Fund − SGOV |
|---|---|---|---|
| 2020from Jun 1 | +0.43% | +0.05% | +0.38% |
| 2021 | +1.38% | +0.04% | +1.34% |
| 2022 | +2.98% | +1.58% | +1.40% |
| 2023 | +4.22% | +5.12% | −0.90% |
| 2024 | +4.40% | +5.28% | −0.87% |
| 2025 | +4.44% | +4.24% | +0.20% |
| 2026to Oct 2 | +3.44% | +2.77% | +0.68% |
About G Fund vs SGOV
The G Fund holds Treasury securities issued only to the Thrift Savings Plan, whose price never falls. SGOV, an iShares ETF, holds Treasury bills that mature within three months. The G Fund's rate follows Treasuries of four years or more, so it can pay more or less than T-bills.
The G Fund returned 3.4% a year from Jun 2020 to Oct 2026, against 3.0% for SGOV. The G Fund beat SGOV in 3 of 5 full years and in every rolling 5-year period.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Jun 1, 2020, when SGOV's prices begin.