BIGPX vs. SHV

Last updated Jun 5, 2026

BIGPX (BlackRock 60/40 Target Allocation Fund Class I) and SHV (iShares 0-1 Year Treasury Bond ETF) are both funds - BIGPX is a Diversified Portfolio fund managed by BlackRock, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Over the past 10 years, BIGPX returned 8.68%/yr vs 2.22%/yr for SHV. At a correlation of -0.03, they often move in opposite directions. BIGPX charges 0.43%/yr vs 0.15%/yr for SHV.

Performance

BIGPX vs. SHV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock 60/40 Target Allocation Fund Class I (BIGPX) and iShares 0-1 Year Treasury Bond ETF (SHV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIGPX achieves a 9.64% return, which is significantly higher than SHV's 1.43% return. Over the past 10 years, BIGPX has outperformed SHV with an annualized return of 8.68%, while SHV has yielded a comparatively lower 2.22% annualized return.

BIGPX

• 1D: -0.56%
• 1M: 3.74%
• YTD: 9.64%
• 6M: 9.95%
• 1Y: 21.69%
• 3Y*: 12.08%
• 5Y*: 5.73%
• 10Y*: 8.68%

SHV

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.43%
• 6M: 1.75%
• 1Y: 3.90%
• 3Y*: 4.65%
• 5Y*: 3.32%
• 10Y*: 2.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BIGPX vs. SHV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIGPX BlackRock 60/40 Target Allocation Fund Class I	9.64%	16.08%	2.52%	15.92%	-15.80%	7.38%	21.62%	21.03%	-3.65%	14.68%
SHV iShares 0-1 Year Treasury Bond ETF	1.43%	4.21%	5.12%	5.04%	0.94%	-0.10%	0.81%	2.36%	1.72%	0.67%

Correlation

The correlation between BIGPX and SHV is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Jan 12, 2007	-0.03

The correlation between BIGPX and SHV shifts across timeframes, from -0.03 (all time) to 0.11 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BIGPX vs. SHV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIGPX

BIGPX Risk / Return Rank: 70
BIGPX Sharpe Ratio Rank: 72
BIGPX Sortino Ratio Rank: 72
BIGPX Omega Ratio Rank: 69
BIGPX Calmar Ratio Rank: 64
BIGPX Martin Ratio Rank: 74

SHV

SHV Risk / Return Rank: 100
SHV Sharpe Ratio Rank: 100
SHV Sortino Ratio Rank: 100
SHV Omega Ratio Rank: 100
SHV Calmar Ratio Rank: 100
SHV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIGPX vs. SHV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock 60/40 Target Allocation Fund Class I (BIGPX) 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.

	BIGPX	SHV	Difference
Sharpe ratio: Return per unit of total volatility	2.46	19.49	-17.03
Sortino ratio: Return per unit of downside risk	3.54	149.54	-146.00
Omega ratio: Gain probability vs. loss probability	1.46	53.77	-52.30
Calmar ratio: Return relative to maximum drawdown	3.08	431.38	-428.31
Martin ratio: Return relative to average drawdown	13.88	2,419.80	-2,405.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIGPX vs. SHV - Sharpe Ratio Comparison

The current BIGPX Sharpe Ratio is 2.46, which is lower than the SHV Sharpe Ratio of 19.49. The chart below compares the historical Sharpe Ratios of BIGPX and SHV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BIGPX	SHV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	19.49	-17.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	11.56	-11.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	8.08	-7.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	4.50	-4.00

Drawdowns

BIGPX vs. SHV - Drawdown Comparison

The maximum BIGPX drawdown since its inception was -46.95%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for BIGPX and SHV.

Drawdown Indicators

	BIGPX	SHV	Difference
Max Drawdown Largest peak-to-trough decline	-46.95%	-0.45%	-46.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.27%	-0.01%	-7.26%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-0.03%	-18.01%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-0.40%	-21.48%
Max Drawdown (10Y) Largest decline over 10 years	-22.34%	-0.45%	-21.89%
Current Drawdown Current decline from peak	-0.56%	0.00%	-0.56%
Average Drawdown Average peak-to-trough decline	-6.27%	-0.03%	-6.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	0.00%	+1.60%

Volatility

BIGPX vs. SHV - Volatility Comparison

BlackRock 60/40 Target Allocation Fund Class I (BIGPX) has a higher volatility of 3.30% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that BIGPX'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.

Volatility by Period

	BIGPX	SHV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	0.05%	+3.25%
Volatility (6M) Calculated over the trailing 6-month period	7.70%	0.12%	+7.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.09%	0.20%	+8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.94%	0.29%	+11.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.37%	0.28%	+11.09%

BIGPX vs. SHV - Expense Ratio Comparison

BIGPX has a 0.43% expense ratio, which is higher than SHV's 0.15% expense ratio.

Dividends

BIGPX vs. SHV - Dividend Comparison

BIGPX's dividend yield for the trailing twelve months is around 7.27%, more than SHV's 3.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIGPX BlackRock 60/40 Target Allocation Fund Class I	7.27%	7.97%	0.00%	3.02%	2.59%	7.60%	3.76%	3.77%	9.80%	3.20%	1.76%	9.89%
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

Can I hold both BIGPX and SHV in my portfolio?

BIGPX and SHV have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIGPX or SHV?

BIGPX has higher volatility (3.30%) compared to SHV (0.05%). In terms of maximum drawdown, BIGPX dropped -46.95% vs SHV's -0.45%.

Which has better risk-adjusted returns?

SHV currently has the higher Sharpe Ratio (19.49 vs 2.46), 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.