How to buy SGOV at 15 brokerages: the commission, buying by the dollar, automatic purchases and dividends

SGOV, the iShares 0-3 Month Treasury Bond ETF, trades on the NYSE like a stock. iShares: “Individual shares of the Fund may only be bought and sold in the secondary market through a broker-dealer.” Any brokerage account that trades ETFs can hold it, including an IRA. Below is how 15 brokerages, in alphabetical order, describe each part of the purchase on their own pages, read October 10, 2026.

• The commission is $0 almost everywhere. All 15 post $0 online commissions for U.S.-listed ETFs, except Interactive Brokers' IBKR Pro plan, which charges per share (its IBKR Lite plan is $0).
• One share costs about $100.51 (iShares' net asset value on October 9, 2026). Vanguard sells other firms' ETFs, SGOV included, only in whole shares, and Merrill Edge describes no dollar orders for ETFs. Most of the others sell fractional shares, with minimums from $1 to $10, but only J.P. Morgan names SGOV on a list of eligible securities (dated 2024); elsewhere the app shows whether SGOV qualifies.
• Automatic purchases differ the most. E*TRADE, Fidelity, J.P. Morgan, Public, Robinhood, SoFi and Webull describe recurring purchases of ETFs, and Interactive Brokers of eligible shares, each with its own eligibility rules. Schwab, Firstrade and Merrill describe automatic investing for mutual funds only, and Vanguard for its own ETFs. Public charges $0.49 per purchase unless you are a Premium member.
• SGOV pays dividends monthly, and most of these firms can reinvest them, usually free; eToro says it pays them in cash.
• Selling costs a small SEC fee at most firms. FINRA's trading activity fee is $0 from October 1 through December 31, 2026; see the FINRA fee at 15 brokers. A sale settles one business day later.
• Taxes: most of SGOV's dividends are exempt from state income tax in most states; see Is SGOV state tax exempt?

Buying SGOV, step by step

1. Open and fund an account. A regular (taxable) brokerage account or an IRA. Several firms require the cash to arrive before the first purchase; Vanguard, for example, says “For newly opened brokerage accounts, you must have money in your settlement fund before you can buy an ETF.”
2. Search for the ticker SGOV (iShares 0-3 Month Treasury Bond ETF).
3. Choose shares or dollars, where the firm offers dollar orders, and the order type the firm offers (market or limit).
4. Review and submit. The purchase settles one business day after the trade. The SEC: “Under the new “T+1” settlement cycle, all applicable securities transactions from U.S. financial institutions will settle in one business day of their transaction date.”
5. Choose what happens to the monthly dividends: reinvest them or take cash. At Fidelity, for example, the default for ETFs is cash.

Firm by firm

Each section quotes what the firm itself publishes and links the pages we read.

Ally Invest

Ally Invest: “We don’t charge commissions for stocks and ETFs priced $2 and higher.” We found no description of buying in dollar amounts or of recurring ETF purchases on the pages we read (trading, commissions and fees, and the help pages on trading, IRAs and dividend reinvestment); the help pages mention fractional shares only when selling them. A whole share of SGOV costs about $100.51.

Dividend reinvestment: “All marginable U.S. equities and selected American Depository Receipts (ADRs) priced at $4 or more that trade either on an exchange or quotes on NASDAQ are eligible for DRIP.” “Dividend reinvestment is a free service.” Ally does not say whether ETFs count as equities for this purpose. “There's no minimum deposit required to open a Self-Directed brokerage cash account.” “In an IRA, you can trade stocks, ETFs, mutual funds, and fixed income products such as bonds or CDs.”

Sources: Ally Invest, Self-Directed Trading; Ally Invest, Commissions and fees; Ally, Dividend reinvestment help; Ally, IRA help.

Charles Schwab

“Schwab offers $0 online commission per trade on over 5,000 U.S. exchange-listed ETFs.” Buying by the dollar: “Own fractional shares of most U.S.-listed stocks and ETFs for as little as $1.” Schwab does not list which ETFs are excluded; “Any applicable minimums or maximums will be displayed during the trading experience.”

Automatic investing at Schwab covers mutual funds. Its page on the subject, dated 2023 by its document code, says “Be aware that only mutual funds are eligible for automatic investments, and certain account types, like managed accounts, are ineligible for automatic investments.” We found no newer Schwab page on recurring ETF purchases. Dividend reinvestment covers ETFs: “With a DRIP applied to dividend-paying stocks and exchange-traded funds (ETFs) you own, your cash dividends are reinvested into your portfolio automatically, helping you accumulate additional whole or fractional shares of the same stock or ETF, at no charge.” On sales, Schwab's pricing page notes: “An industry fee applies to sell transactions.”

Sources: Schwab, Invest in ETFs; Schwab, Fractional shares; Schwab, How to automatically invest in mutual funds; Schwab, Dividend reinvestment plan; Schwab, Pricing.

E*TRADE (Morgan Stanley)

“E*TRADE from Morgan Stanley ("E*TRADE") charges $0 commissions for online US-listed stock, ETF, mutual fund, and options trades.” Fractions are entered as a number of shares, not dollars: “For eligible listed Reg-NMS securities, you may place a buy or buy to cover order for any decimal quantity up to 3 decimals, with a minimum notional amount of $5.00.” Asked whether dollar-based orders are available, E*TRADE answers “Not yet but coming in the near future.” The same page says fractional trading starts with a pilot group beginning with the S&P 100, so SGOV may not be eligible yet.

Recurring purchases: you can “invest in eligible exchange-traded funds (ETFs) or mutual funds starting with $25.” Eligibility depends on trading volume: “Eligible ETFs are limited to ETFs that have sufficient levels of trading volume and liquidity at the Company or that, in the Company's view, meet other objective criteria established by the Company from time to time.” Dividends: “When an eligible stock or ETF you own pays a dividend, you can choose to automatically reinvest it with the Dividend Reinvestment Program (DRIP) to buy more of that same investment.” On sales: “In addition to your regular commission, a separate transaction fee (equal to the principal amount x $0.0000206) will apply to the sale of all equities, options, and exchange-traded fund (ETF) securities.”

Sources: E*TRADE, Pricing and rates; E*TRADE, Fractional shares; E*TRADE, How automatic investing works; E*TRADE, Automatic investing agreement.

eToro US

“Commission-free trading refers to $0 commissions for self-directed individual brokerage accounts that trade stocks, ETFs, and options made available through etoro USA Securities Inc., which is the etoro broker-dealer.” Its guide to ETFs says “Remember, you can invest in a fractional share for as little as $10 — that’s true for any ETF on etoro.” Its disclosures add “Not all investments on etoro are eligible for fractional share orders.” eToro's market page for SGOV offers a Trade button, but its U.S. address redirected to eToro's global page, so we could not confirm U.S. availability from it.

eToro's U.S. help center describes recurring purchases for other products: “eToro clients can now set up recurring monthly investments for Smart Portfolios and cryptoassets of their choice, either when making their initial investment or when adding funds to an existing position.” Dividends are paid in cash: “If you hold a position, you’ll automatically receive the gross dividend payment in your eToro account and it will be reflected in your account balance, history, or holdings.” On sales, its fee page says both “When you sell a stock, we pay the regulatory transaction fees on your behalf.” and that “sales of securities incur a Trading Activity Fee (TAF) and (Securities and Exchange Commission (SEC) fee, which are passed on to the client.” We found no IRA on eToro's U.S. pages.

Sources: eToro US, Disclosures; eToro US, How to invest in ETFs (updated 08/09/2026); eToro US Help, Recurring investment plan; eToro US Help, What is a dividend?; eToro US, Fees.

Fidelity

Fidelity charges “$0 commissions for online US stock, ETF, and option trades.” It adds “A limited number of ETFs are subject to a transaction-based service fee of $100.” The list of those ETFs is closed to automated reading under Fidelity's robots.txt, so we could not check whether SGOV is on it.

Buying by the dollar: “When trading in fractions or dollars, you can trade National Market System (NMS) exchange-listed stocks. This includes stocks and exchange-traded funds (ETFs) listed on the NYSE or Nasdaq. If a specific security is not eligible for fractional trading, you will receive an error message.” “Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $1.00.” SGOV is listed on the NYSE. Recurring purchases: “You can choose from investments like an ETF, mutual fund, stock, or Fidelity Basket Portfolios.” “Select a frequency that works best for you—weekly, every 2 weeks, or monthly.” Dividends: “For customers participating in Fidelity’s Dividend Reinvestment Program, fractional dividends will reinvest in the same manner as full shares.” Note the default: “For stocks and ETFs, the default is to pay you in cash”.

Fidelity discloses a business relationship with iShares, SGOV's sponsor: “For iShares ® ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program”. On sales: “All sell orders are subject to an additional assessment fee that ranges from $0.01 to $0.03 per $1,000 of principal, which could reduce the proceeds of the order.”

Sources: Fidelity, Commissions, margin rates and fees; Fidelity, Fractional shares; Fidelity, Recurring investments; Fidelity, Dividend and capital gain distributions; Fidelity, iShares ETFs.

Firstrade

“Zero commissions on all US Stocks and ETFs, along with no account fees or minimums to open a retail brokerage account.” “Trade fractional shares with flexibility: choose to purchase by dollar amount or share, with a $5 minimum value required.” Its account agreement adds that “Fractional share trading is available only for selected equities and ETFs, subject to change at Firstrade's and Apex's sole discretion at any time”.

The only periodic investment plan we found is for mutual funds, set up by application: “Please complete the Mutual Fund Periodic Investment Plan Application and return it to us via Secure Document Upload.” Dividends: “The Dividend Reinvestment Plan (DRIP) automatically reinvests dividends received from eligible stocks and ETFs.” On sales: “As of April 6, 2026, the SEC Fee rate is $0.00002060 or $20.60 per million dollars for eligible sell transactions.”

Sources: Firstrade, Fractional shares; Firstrade, Account agreement (PDF); Firstrade help, Mutual fund periodic investment; Firstrade help, Dividend reinvestment plan; Firstrade, Pricing.

Interactive Brokers

Interactive Brokers has two plans. “IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs.” IBKR Pro charges per share (USD 0.005 a share with a USD 1.00 minimum on its Fixed pricing). Even on Lite, “recurring investment instructions, IBKR Lite accounts are subject to Fixed Pricing”.

Buying by the dollar: “Own fractions of eligible stocks or ETFs, starting from just USD 1.” Recurring purchases: “Select from available US, Canadian and European shares, choose a start date and then select the schedule (daily, weekly or monthly) that you will use to invest.” Dividend reinvestment carries a commission on Pro: “Dividend Reinvestment shares for Tiered are subject to a minimum commission lesser of 0.35 USD or 0.1% of Trade Value per Order.” On sales, its fee table notes for FINRA's fee: “Fee Holiday of Trading Activity Fee for trades from Oct 1, 2026 through Dec 31, 2026.”

Sources: Interactive Brokers, Stock and ETF commissions; Interactive Brokers, Fractional trading; Interactive Brokers, Recurring investments.

J.P. Morgan Self-Directed Investing

“We offer unlimited $0 online trades on stocks, ETFs, options, mutual funds, money market funds and treasuries.” Buying by the dollar: “Fractional shares are available for S&P 500 and NASDAQ 100 stocks and ETFs in any amount starting with $5, regardless of the share price.” Its list of eligible securities, dated November 19, 2024, names SGOV among the ETFs, with the warning “JPMS IS UNDER NO OBLIGATION TO OFFER FRACTIONAL SHARES TRADING IN ANY SECURITY AND MAY MODIFY THE LIST OF ELIGIBLE SECURITIES AT ANY TIME WITHOUT NOTICE.”

Recurring purchases: “There’s no minimum initial investment requirement for stocks and ETFs, but we impose a $5 minimum recurring amount.” “You can schedule an investment weekly, twice per month, monthly, every 3 months, every 6 months and yearly.” “You can set up recurring investments with J.P. Morgan Self-Directed Investing cash accounts.” Dividends: “Most index ETFs are eligible for dividend reinvestment within a J.P. Morgan Self-Directed Investing account.”

Sources: J.P. Morgan Self-Directed Investing; J.P. Morgan, Fractional shares; J.P. Morgan, Fractional shares eligible securities, as of 11/19/2024 (PDF); J.P. Morgan, Trading FAQs; J.P. Morgan, Index ETFs.

Merrill Edge

Merrill Edge offers “Unlimited $0 online stock and ETF trades with no trade or balance minimums”. Its ETF guide puts the minimum at one share: “Low minimum purchase amount, which is the cost of one share and could vary”. We found no way to buy ETFs in dollar amounts on its pages, so expect to pay about $100.51 a share.

Automatic investing is for mutual funds: “When you enroll in automated investing, we will automatically buy shares on your behalf in a mutual fund according to a predetermined schedule.” Dividends: “For stocks and exchange-traded funds, you can reinvest dividends and capital gains or receive cash.” “There is no fee for the Service, and for most account types you pay no commission on dividends or distributions automatically reinvested in the same investment through the Service.” On sales: “Sales of ETFs are subject to a transaction fee of between $0.01 and $0.03 per $1,000 of principal.”

Sources: Merrill Edge, Pricing; Merrill Edge, Understanding ETFs; Merrill, Self-Directed CMA account agreement (PDF); Merrill Edge, Dividend reinvestment form (PDF); Merrill, Direct Reinvestment Service terms (PDF).

moomoo

moomoo's fee schedule for U.S. residents, updated October 1, 2026, lists $0 for U.S. ETFs. Buying by the dollar: “A current list of the securities eligible for fractional trading is available on the moomoo app.” “Buy orders must be at least $5.00.” We found no recurring-investment feature on moomoo's U.S. pages.

Dividends: “Stocks and ETFs that support it will have a DRIP icon shown on their quotes page.” Its DRIP terms: “Fees: No fees.” moomoo has no IRAs: “Please note, Moomoo Financial Inc. does not offer individual retirement account (IRA) or joint account.”

Sources: moomoo, Fee schedule for U.S. residents; moomoo, Fractional trading disclosure; moomoo, Dividend reinvestment; moomoo, DRIP terms; moomoo, Account types.

Public

Public's fee schedule, last updated September 25, 2026, lists $0 for U.S.-listed stocks and ETFs during regular market hours. Buying by the dollar: “For purchases made outside of an Investment Plan, Public Investing will not accept Fractional Share orders of less than $5.00.” “Not all securities are eligible for Fractional Share orders.” Public's own SGOV page walks through a purchase: “Navigate to the Explore page. Then, type SGOV into the search bar.”

Recurring purchases: “Yes, Public offers recurring buys for most stocks, ETFs, and cryptos through Public’s Investment Plans feature.” “Choose between daily, weekly, biweekly, or monthly frequencies.” Each purchase in a plan of one to three securities costs $0.49; “If you’re a Public Premium member, you’re exempt from paying these fees.” Dividends: “Dividend reinvestment is available on all equity securities held at Public.” IRAs: “Earn a 1% match on your annual contributions for both Traditional and Roth IRAs.”

Sources: Public, Fee schedule (September 25, 2026); Public, Fractional shares disclosure; Public, SGOV; Public help, Recurring investments; Public help, Investment Plans; Public help, Investment Plan fees; Public, Dividend reinvestment; Public, IRA.

Robinhood

“Investing with a Robinhood investing account is commission free for stocks, ETFs, and their options.” Robinhood's SGOV page says “Sign up for a Robinhood brokerage account to buy or sell SGOV stocks, ETFs, and their options commission-free.” Buying by the dollar: “Most stocks worth over $1 per share with a market capitalization over $25,000,000 are eligible for fractional share orders.” “Keep in mind, if you’re buying or selling fractional shares, you must enter an amount of at least $1.”

Recurring purchases: “We only support dollar-based orders on recurring investments, which typically results in fractional shares or fractions of a coin.” You choose “every market day, every week, every 2 weeks, or every month”. Dividends: “Any dividend-paying stock or ETF that supports fractional shares is eligible for dividend reinvestment.” On sales: “As of April 4, 2026, the SEC fee is $20.60 per $1 million of principal (only for sell orders), which is rounded up to the nearest penny.” “The trading activity fee (TAF) is temporarily paused from October 1, 2026, through December 31, 2026 per FINRA.”

Sources: Robinhood, Fees on Robinhood; Robinhood, SGOV; Robinhood, Fractional shares; Robinhood, Recurring investments; Robinhood, Retirement investing; Robinhood, Dividend reinvestment.

SoFi Invest

“At SoFi, trading stocks and ETFs is commission-free.” Buying by the dollar: “To buy a fractional share, select the option to invest in dollars instead of full shares. You can start with as little as $5.” “If there isn't an option to invest in dollars, it means fractional shares are not available for that stock at the moment.”

Recurring purchases: “Stocks/ETFs that are eligible for recurring investment need to be eligible for fractional trading.” Dividends: “Once an account is enabled, all eligible dividends in that account will be reinvested directly into the security or holding that paid the dividend.” Note the inactivity fee: “An inactivity fee of $25 will be assessed to each SoFi Invest account that is inactive for the preceding 6 months.”

Sources: SoFi help, Trading fees; SoFi help, How to buy a fractional share; SoFi help, Recurring investment; SoFi help, Dividend reinvestment; SoFi help, Inactivity fee.

Vanguard

“All ETFs and Vanguard mutual funds can be bought and sold online commission-free in your Vanguard Brokerage Account.” Dollar amounts are for Vanguard's own funds: “At Vanguard, you can use dollar-based trading to buy mutual funds or Vanguard ETFs®.” “Non-Vanguard ETFs can be purchased for as little as the cost of one share.” SGOV is an iShares ETF, so at Vanguard you buy whole shares, about $100.51 each.

Recurring purchases are described for Vanguard ETFs: “You can set up recurring investments (purchases) into your Vanguard ETF positions.” Dividends from other companies' ETFs can be reinvested: “Investments include eligible stocks, closed-end mutual funds , ETFs, funds from other companies, and Vanguard mutual funds held in your Vanguard Brokerage Account.” Before the first purchase: “For newly opened brokerage accounts, you must have money in your settlement fund before you can buy an ETF.” Its fee schedule adds “VBS may charge a $25 annual account service fee.”

Sources: Vanguard, ETFs vs. mutual funds; Vanguard, What is dollar-based investing?; Vanguard, Reinvest dividends; Vanguard, How to buy an ETF; Vanguard, Investment fees (effective July 10, 2026).

Webull

“Webull does not charge commissions for trading stocks, ETFs and options listed on U.S. exchanges.” Buying by the dollar: “Fractional trading is available for select U.S. stocks and ETFs. Look for a green diamond icon on the stock quote page to identify eligible securities.”

Recurring purchases: “You can create recurring investments for any stock available for fractional trading and several ETFs.” “Fixed amount : Minimum $1, maximum $25,000 per setting.” Dividends: “Yes, some ETFs are eligible for DRIP. Reinvestments are made at the market price, not at the fund’s Net Asset Value (NAV).”

Sources: Webull, Pricing; Webull help, Trading fractional shares; Webull help, Recurring investment program; Webull help, Dividend reinvestment program.

Before you buy

• How SGOV compares with a savings account, a CD or a money market fund, and how it works in an IRA: SGOV next to savings, CDs and money market funds.
• What SGOV keeps after your state's tax compared with savings and Treasury bills: our cash yield after tax calculator.
• What these brokerages pay on cash you leave uninvested: brokerage cash sweep rates.
• Twelve Treasury and government money funds side by side: state tax exempt money market funds.

What this page does not cover

• Whether SGOV suits your money. We report what each firm says, not which to use or what to buy.
• Buying Treasury bills directly, at a brokerage or at TreasuryDirect.
• Other Treasury ETFs. The firms' rules here apply to them the same way, except for any firm-specific lists.

Rechecks and changes

We will recheck every firm at least every three months, and sooner when a firm changes its prices. Every change is listed here with its date. If something is wrong, tell us.

• October 10, 2026. First published.

Sources used on the whole page

• iShares, iShares 0-3 Month Treasury Bond ETF (SGOV)
• iShares, SGOV summary prospectus, June 29, 2026 (PDF)
• SEC, New “T+1” Settlement Cycle – What Investors Need To Know (March 27, 2024)
• iShares, SGOV fact sheet (PDF)
• Robinhood, Fees on Robinhood

Dollars Ahead has no affiliate relationship with any firm on this page, and the page contains no affiliate links. If that changes, the link will appear in that firm's section with a disclosure right before it, and every firm keeps the same section whether it pays us or not. This page reports what the firms publish; it is not investment advice.