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GRNB vs. ISHG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

GRNB vs. ISHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Green Bond ETF (GRNB) and iShares 1-3 Year International Treasury Bond ETF (ISHG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GRNB achieves a 0.30% return, which is significantly higher than ISHG's -1.71% return.


GRNB

1D
-0.21%
1M
-0.25%
6M
0.24%
YTD
0.30%
1Y
3.71%
3Y*
4.94%
5Y*
0.58%
10Y*

ISHG

1D
-0.50%
1M
-1.54%
6M
-1.40%
YTD
-1.71%
1Y
-1.04%
3Y*
2.52%
5Y*
-0.96%
10Y*
-0.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GRNB vs. ISHG - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
GRNB
VanEck Green Bond ETF
0.30%7.09%3.31%7.08%-11.93%-2.36%7.98%5.40%-4.07%9.87%
ISHG
iShares 1-3 Year International Treasury Bond ETF
-1.71%13.31%-4.16%3.76%-10.95%-7.05%7.47%-0.64%-3.54%9.48%

Correlation

The correlation between GRNB and ISHG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (All Time)
Calculated using the full available price history since Mar 6, 2017

0.46

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Return for Risk

GRNB vs. ISHG — Risk / Return Rank

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

GRNB
GRNB Risk / Return Rank: 4343
Overall Rank
GRNB Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
GRNB Sortino Ratio Rank: 4444
Sortino Ratio Rank
GRNB Omega Ratio Rank: 4444
Omega Ratio Rank
GRNB Calmar Ratio Rank: 3737
Calmar Ratio Rank
GRNB Martin Ratio Rank: 4444
Martin Ratio Rank

ISHG
ISHG Risk / Return Rank: 77
Overall Rank
ISHG Sharpe Ratio Rank: 88
Sharpe Ratio Rank
ISHG Sortino Ratio Rank: 77
Sortino Ratio Rank
ISHG Omega Ratio Rank: 77
Omega Ratio Rank
ISHG Calmar Ratio Rank: 77
Calmar Ratio Rank
ISHG Martin Ratio Rank: 77
Martin Ratio Rank
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.

GRNB vs. ISHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) and iShares 1-3 Year International Treasury Bond ETF (ISHG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


GRNBISHGDifference
Sharpe ratioReturn per unit of total volatility

+1.41

Sortino ratioReturn per unit of downside risk

+2.00

Omega ratioGain probability vs. loss probability

1.23

0.98

+0.25

Calmar ratioReturn relative to maximum drawdown

1.49

-0.21

+1.69

Martin ratioReturn relative to average drawdown

5.71

-0.45

+6.16

GRNB vs. ISHG - Sharpe Ratio Comparison

The current GRNB Sharpe Ratio is 1.25, which is higher than the ISHG Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of GRNB and ISHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

GRNB vs. ISHG - Drawdown Comparison

The maximum GRNB drawdown since its inception was -18.08%, smaller than the maximum ISHG drawdown of -37.24%. Use the drawdown chart below to compare losses from any high point for GRNB and ISHG.


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Drawdown Indicators


GRNBISHGDifference

Max Drawdown

Largest peak-to-trough decline

-18.08%

-37.24%

+19.16%

Max Drawdown (1Y)

Largest decline over 1 year

-2.51%

-5.02%

+2.51%

Max Drawdown (3Y)

Largest decline over 3 years

-4.24%

-8.21%

+3.97%

Max Drawdown (5Y)

Largest decline over 5 years

-17.94%

-22.29%

+4.35%

Max Drawdown (10Y)

Largest decline over 10 years

-25.56%

Current Drawdown

Current decline from peak

-0.74%

-23.56%

+22.82%

Average Drawdown

Average peak-to-trough decline

-4.53%

-18.46%

+13.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.65%

2.31%

-1.66%

Volatility

GRNB vs. ISHG - Volatility Comparison

The current volatility for VanEck Green Bond ETF (GRNB) is 0.90%, while iShares 1-3 Year International Treasury Bond ETF (ISHG) has a volatility of 1.65%. This indicates that GRNB experiences smaller price fluctuations and is considered to be less risky than ISHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


GRNBISHGDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.90%

1.65%

-0.75%

Volatility (6M)

Calculated over the trailing 6-month period

2.46%

4.94%

-2.48%

Volatility (1Y)

Calculated over the trailing 1-year period

2.99%

6.52%

-3.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.91%

7.59%

-2.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.86%

6.92%

-2.06%

GRNB vs. ISHG - Expense Ratio Comparison

GRNB has a 0.20% expense ratio, which is lower than ISHG's 0.35% expense ratio.


Dividends

GRNB vs. ISHG - Dividend Comparison

GRNB's dividend yield for the trailing twelve months is around 4.39%, more than ISHG's 1.48% yield.


PositionTTM20252024202320222021202020192018201720162015
GRNB
VanEck Green Bond ETF
4.39%4.18%3.83%3.17%2.60%1.97%2.24%1.79%1.21%1.09%0.00%0.00%
ISHG
iShares 1-3 Year International Treasury Bond ETF
1.48%1.45%2.56%0.18%0.00%1.29%0.00%0.00%1.80%0.46%0.00%0.09%

Frequently Asked Questions


GRNB and ISHG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ISHG has higher volatility (1.65%) compared to GRNB (0.90%). In terms of maximum drawdown, GRNB dropped -18.08% vs ISHG's -37.24%.

On 5-year performance, GRNB leads with 0.58% vs -0.96% for ISHG. On fees, GRNB is cheaper at 0.20% per year. On volatility, GRNB has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, GRNB has performed better with a 0.58% return vs -0.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GRNB is cheaper with a 0.20% expense ratio, compared with 0.35% for ISHG.

GRNB has the higher dividend yield at 4.39%, compared with 1.48% for ISHG.

GRNB is categorized as Global Bonds, while ISHG is International Government Bonds. GRNB tracks S&P Green Bond U.S. Dollar Select Index, while ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for GRNB and 0.35% for ISHG.

GRNB currently has the higher Sharpe Ratio (1.25 vs -0.16), 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.

Portfolio Optimizer

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