AVB vs. SHY
AVB (AvalonBay Communities, Inc.) is a stock, while SHY (iShares 1-3 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Over the past 10 years, AVB returned 4.02%/yr vs 1.65%/yr for SHY. At a correlation of -0.05, they often move in opposite directions.
Performance
AVB vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, AVB achieves a 2.16% return, which is significantly higher than SHY's 0.43% return. Over the past 10 years, AVB has outperformed SHY with an annualized return of 4.02%, while SHY has yielded a comparatively lower 1.65% annualized return.
AVB
- 1D
- -0.10%
- 1M
- 0.41%
- YTD
- 2.16%
- 6M
- 3.02%
- 1Y
- -6.68%
- 3Y*
- 4.00%
- 5Y*
- 0.52%
- 10Y*
- 4.02%
SHY
- 1D
- -0.05%
- 1M
- 0.08%
- YTD
- 0.43%
- 6M
- 0.69%
- 1Y
- 3.32%
- 3Y*
- 4.03%
- 5Y*
- 1.71%
- 10Y*
- 1.65%
AVB vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AVB AvalonBay Communities, Inc. | 2.16% | -14.60% | 21.44% | 20.34% | -33.92% | 62.17% | -20.27% | 24.10% | 1.00% | 3.89% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between AVB and SHY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002 | -0.05 |
The correlation between AVB and SHY shifts across timeframes, from -0.05 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AVB vs. SHY — Risk / Return Rank
AVB
SHY
AVB vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AvalonBay Communities, Inc. (AVB) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
| AVB | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.44 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.51 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 3.75 | -4.07 |
| Martin ratioReturn relative to average drawdown | -0.61 | 15.21 | -15.82 |
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
| AVB | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.34 | 2.49 | -2.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.87 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 1.06 | -0.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.28 | -0.86 |
Drawdowns
AVB vs. SHY - Drawdown Comparison
The maximum AVB drawdown since its inception was -70.04%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for AVB and SHY.
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Drawdown Indicators
| AVB | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.04% | -5.71% | -64.33% |
Max Drawdown (1Y)Largest decline over 1 year | -20.87% | -0.89% | -19.98% |
Max Drawdown (3Y)Largest decline over 3 years | -29.40% | -0.97% | -28.43% |
Max Drawdown (5Y)Largest decline over 5 years | -38.36% | -5.71% | -32.65% |
Max Drawdown (10Y)Largest decline over 10 years | -46.91% | -5.71% | -41.20% |
Current DrawdownCurrent decline from peak | -18.67% | -0.31% | -18.36% |
Average DrawdownAverage peak-to-trough decline | -11.74% | -0.52% | -11.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.93% | 0.22% | +10.71% |
Volatility
AVB vs. SHY - Volatility Comparison
AvalonBay Communities, Inc. (AVB) has a higher volatility of 4.96% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.35%. This indicates that AVB's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVB | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 0.35% | +4.61% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 0.92% | +13.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.96% | 1.34% | +18.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.16% | 1.98% | +20.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.67% | 1.57% | +23.10% |
Dividends
AVB vs. SHY - Dividend Comparison
AVB's dividend yield for the trailing twelve months is around 3.84%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVB AvalonBay Communities, Inc. | 3.84% | 3.86% | 3.09% | 3.53% | 3.94% | 2.52% | 3.96% | 2.90% | 3.38% | 3.18% | 3.05% | 2.72% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
AVB and SHY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVB has higher volatility (4.96%) compared to SHY (0.35%). In terms of maximum drawdown, AVB dropped -70.04% vs SHY's -5.71%.
SHY currently has the higher Sharpe Ratio (2.49 vs -0.34), 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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