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This study aims to examine the performance of government development financing sukuk/SBSN compared with bonds/SUN period 2014-2017. The method used is descriptive quantitative with secondary data. The data obtained were analyzed and concluded based on a predetermined framework. The results of the analysis based on the method of efficiency ratio, Data Envelopment Analysis (DEA) and Value at Risk (VaR) shown that SUN have a high efficiency and high risk, while SBSN have a low efficiency and low risk. Based on the analysis of the Efficient Portfolio Frontier shown that an efficient portfolio exist at risk level to 0.14% and profit rate up to 369.31% exist in the proportion of 60% SBSN financing and 40% SUN financing proportion, it means that the Sukuk financing portfolio was better rather than Bonds financing portfolio.