ANGL vs. SHV
ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, ANGL returned 6.13%/yr vs 2.23%/yr for SHV. At a 0.04 correlation, their price movements are largely independent. ANGL charges 0.35%/yr vs 0.15%/yr for SHV.
Performance
ANGL vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, ANGL achieves a 1.27% return, which is significantly lower than SHV's 1.47% return. Over the past 10 years, ANGL has outperformed SHV with an annualized return of 6.13%, while SHV has yielded a comparatively lower 2.23% annualized return.
ANGL
- 1D
- 0.03%
- 1M
- -0.23%
- YTD
- 1.27%
- 6M
- 1.74%
- 1Y
- 7.79%
- 3Y*
- 8.23%
- 5Y*
- 3.26%
- 10Y*
- 6.13%
SHV
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.63%
- 5Y*
- 3.33%
- 10Y*
- 2.23%
ANGL vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 1.27% | 9.04% | 6.06% | 12.52% | -14.26% | 6.84% | 13.20% | 18.06% | -5.84% | 9.71% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.47% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between ANGL and SHV is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012 | 0.04 |
The correlation between ANGL and SHV shifts across timeframes, from 0.04 (all time) to 0.17 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ANGL vs. SHV — Risk / Return Rank
ANGL
SHV
ANGL vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) and iShares 0-1 Year Treasury Bond ETF (SHV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ANGL | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.69 | ||
| Sortino ratioReturn per unit of downside risk | -146.97 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 53.77 | -52.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 431.38 | -429.45 |
| Martin ratioReturn relative to average drawdown | 8.09 | 2,419.80 | -2,411.71 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ANGL | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 19.49 | -17.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 11.62 | -11.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 8.09 | -7.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 4.50 | -3.77 |
Drawdowns
ANGL vs. SHV - Drawdown Comparison
The maximum ANGL drawdown since its inception was -29.31%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for ANGL and SHV.
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Drawdown Indicators
| ANGL | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -0.45% | -28.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -0.01% | -4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -5.48% | -0.03% | -5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -19.25% | -0.39% | -18.86% |
Max Drawdown (10Y)Largest decline over 10 years | -29.31% | -0.45% | -28.86% |
Current DrawdownCurrent decline from peak | -0.58% | 0.00% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -0.03% | -3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.00% | +0.96% |
Volatility
ANGL vs. SHV - Volatility Comparison
VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) has a higher volatility of 1.35% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that ANGL's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ANGL | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.05% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 0.12% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 0.20% | +4.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.63% | 0.29% | +7.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.28% | 0.28% | +9.00% |
ANGL vs. SHV - Expense Ratio Comparison
ANGL has a 0.35% expense ratio, which is higher than SHV's 0.15% expense ratio.
Dividends
ANGL vs. SHV - Dividend Comparison
ANGL's dividend yield for the trailing twelve months is around 6.39%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF | 6.39% | 6.20% | 6.29% | 5.27% | 4.72% | 3.90% | 4.67% | 5.19% | 5.99% | 5.25% | 5.34% | 5.81% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
ANGL and SHV have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ANGL has higher volatility (1.35%) compared to SHV (0.05%). In terms of maximum drawdown, ANGL dropped -29.31% vs SHV's -0.45%.
On 10-year performance, ANGL leads with 6.13% vs 2.23% for SHV. On fees, SHV is cheaper at 0.15% per year. On volatility, SHV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ANGL has performed better with a 6.13% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHV is cheaper with a 0.15% expense ratio, compared with 0.35% for ANGL.
ANGL has the higher dividend yield at 6.39%, compared with 3.83% for SHV.
ANGL is categorized as High Yield Bonds, while SHV is Government Bonds. ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.35% for ANGL and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 1.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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