SGOV yield: current SEC yield, trailing yield and distribution rate

SGOV publishes several yield figures that measure different things. Here are today’s numbers from iShares and a plain-English explanation of which one to use.

By the SGOVResource.com editorial team Last reviewed Oct 24, 2026 Data refreshed Oct 24, 2026 How we calculate Editorial policy

30-day SEC yield 3.76% As of Oct 22, 2026

12-month trailing yield 3.64% As of Oct 22, 2026

Latest payment × 12 ÷ NAV 3.58% Ex-date Oct 1, 2026

Avg. yield to maturity 4.00% Holdings, before expenses

Source: iShares SGOV product page (BlackRock) · Retrieved Oct 24, 2026 · Latest-payment rate calculated by SGOVResource

Short answer: SGOV’s 30-day SEC yield is 3.76% as of Oct 22, 2026. It is the best single estimate of what the fund is earning right now after its 0.09% expense ratio. The 3.64% trailing yield shows what SGOV actually paid over the last year relative to today’s price.

The four SGOV yield measures, compared

How SGOV’s yield figures are calculated and what they are good for
Measure	Value	How it’s calculated	Best used for
30-day SEC yield	3.76%	Standardized SEC formula: net investment income per share over the most recent 30-day period, annualized and divided by the maximum offering price at the end of the period. Net of fund expenses.	Comparing with other funds; estimating near-term income
12-month trailing yield	3.64%	Sum of the distributions paid over the past 12 months divided by the latest NAV (plus any capital gains distributed over the same period).	What holders actually received over the past year
Annualized latest distribution	3.58%	Most recent payment ($0.300547) × 12 ÷ NAV ($100.66). Our calculation.	Quick check; noisy because months differ in length
Average yield to maturity	4.00%	Weighted average yield the holdings would earn if held to maturity, before fund expenses.	Where income is heading as bills roll over

Why SGOV’s yields don’t match

The differences are mostly about timing. The trailing yield looks back 12 months, so when rates fall it stays higher than the SEC yield for a while, and when rates rise it lags behind. Over the last 12 months SGOV paid $3.6655 per share. The SEC yield reflects only the last 30 days of income. Yield to maturity is forward-looking and gross of expenses, which is why it is usually a little above the SEC yield.

What drives SGOV’s yield

SGOV owns US Treasury bills maturing within about three months, so its yield closely follows the rates set at weekly Treasury bill auctions, which in turn follow the Federal Reserve’s policy rate. The chart below shows the US Treasury’s published average interest rate on all outstanding marketable Treasury bills. It is not SGOV’s yield, but it shows the rate environment SGOV’s income comes from.

Average interest rate on outstanding US Treasury bills, month end Oct 2023 to Sep 2026. Percent. Latest: 3.870%.

Source: U.S. Treasury Fiscal Data — Average Interest Rates on U.S. Treasury Securities (Treasury Bills) · Retrieved Oct 24, 2026

Frequently asked questions

What is SGOV’s current yield?

As of Oct 22, 2026, SGOV’s 30-day SEC yield was 3.76% and its 12-month trailing yield was 3.64%, according to iShares. The yield changes daily as the fund’s Treasury bills mature and are replaced at current rates.

Is SGOV’s yield the same as APY?

Not exactly. A bank APY assumes monthly interest is compounded. SGOV’s SEC yield is an annualized rate of net income that does not assume reinvestment. If you reinvest SGOV’s monthly distributions, your effective annual return would be slightly higher than the SEC yield, provided rates stay the same.

What is SGOV’s 7-day yield?

SGOV does not publish a 7-day yield. That measure is required for money market funds such as SPAXX or VUSXX. For an ETF like SGOV, the comparable standardized figure is the 30-day SEC yield. Comparing a money fund’s 7-day yield with SGOV’s 30-day SEC yield is reasonable as long as you know they cover different periods.

Why does SGOV’s yield change?

SGOV holds Treasury bills that mature within about three months (current weighted average maturity: 0.12 years). As they mature, the fund buys new bills at current rates, so changes in Federal Reserve policy flow into SGOV’s yield within weeks.

Is the SEC yield before or after the expense ratio?

After. The 30-day SEC yield is calculated net of fund expenses, so the 0.09% expense ratio is already deducted. Average yield to maturity (4.00%) is measured before expenses.

Educational information only. SGOVResource.com is independent and not affiliated with BlackRock or iShares. Nothing here is a recommendation to buy or sell any security or individualized tax advice. Estimates depend on the assumptions shown and actual results will differ. Read the fund’s prospectus before investing. Disclaimer.