BUFB vs. SHV
BUFB (Innovator Laddered Allocation Buffer ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - BUFB is a Defined Outcome fund tracking the MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 3 years, BUFB returned 15.93%/yr vs 4.65%/yr for SHV. At a 0.04 correlation, their price movements are largely independent. BUFB charges 0.89%/yr vs 0.15%/yr for SHV.
Performance
BUFB vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, BUFB achieves a 7.27% return, which is significantly higher than SHV's 1.43% return.
BUFB
- 1D
- 0.22%
- 1M
- 2.29%
- YTD
- 7.27%
- 6M
- 7.93%
- 1Y
- 19.30%
- 3Y*
- 15.93%
- 5Y*
- —
- 10Y*
- —
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%
BUFB vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BUFB Innovator Laddered Allocation Buffer ETF | 7.27% | 13.42% | 16.37% | 20.50% | -8.37% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.43% | 4.21% | 5.12% | 5.04% | 1.04% |
Correlation
The correlation between BUFB and SHV is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.04 |
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Return for Risk
BUFB vs. SHV — Risk / Return Rank
BUFB
SHV
BUFB vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Laddered Allocation Buffer ETF (BUFB) 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.
| BUFB | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -16.91 | ||
| Sortino ratioReturn per unit of downside risk | -145.80 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 53.77 | -52.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 431.38 | -427.59 |
| Martin ratioReturn relative to average drawdown | 20.07 | 2,419.80 | -2,399.73 |
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
| BUFB | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 19.49 | -16.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 11.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 4.50 | -3.58 |
Drawdowns
BUFB vs. SHV - Drawdown Comparison
The maximum BUFB drawdown since its inception was -14.88%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for BUFB and SHV.
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Drawdown Indicators
| BUFB | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.88% | -0.45% | -14.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -0.01% | -5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -13.75% | -0.03% | -13.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.08% | 0.00% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -0.03% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.00% | +0.96% |
Volatility
BUFB vs. SHV - Volatility Comparison
Innovator Laddered Allocation Buffer ETF (BUFB) has a higher volatility of 1.31% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that BUFB'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
| BUFB | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 0.05% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 0.12% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.51% | 0.20% | +7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.00% | 0.29% | +11.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.00% | 0.28% | +11.72% |
BUFB vs. SHV - Expense Ratio Comparison
BUFB has a 0.89% expense ratio, which is higher than SHV's 0.15% expense ratio.
Dividends
BUFB vs. SHV - Dividend Comparison
BUFB has not paid dividends to shareholders, while SHV's dividend yield for the trailing twelve months is around 3.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFB Innovator Laddered Allocation Buffer ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
BUFB and SHV have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFB has higher volatility (1.31%) compared to SHV (0.05%). In terms of maximum drawdown, BUFB dropped -14.88% vs SHV's -0.45%.
On 3-year performance, BUFB leads with 15.93% vs 4.65% 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 3-year period, BUFB has performed better with a 15.93% return vs 4.65%. 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 0.89% for BUFB.
SHV has the higher dividend yield at 3.83%, compared with 0.00% for BUFB.
BUFB is categorized as Defined Outcome, while SHV is Government Bonds. BUFB tracks MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.89% for BUFB and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 2.58), 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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