IBGB vs. SHV
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBGB tracks the ICE 2045 Maturity US Treasury Index while SHV tracks the ICE Short US Treasury Securities Index. Both are passively managed. Over the past year, IBGB returned -0.26% vs 3.76% for SHV. Their 0.11 correlation means their historical movements had little consistent relationship. IBGB charges 0.07%/yr vs 0.15%/yr for SHV.
Performance
IBGB vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, IBGB achieves a -1.86% return, which is significantly lower than SHV's 2.04% return.
IBGB
- 1D
- 0.77%
- 1M
- -2.11%
- 6M
- -1.81%
- YTD
- -1.86%
- 1Y
- -0.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.52%
SHV
- 1D
- 0.01%
- 1M
- 0.31%
- 6M
- 1.74%
- YTD
- 2.04%
- 1Y
- 3.76%
- 3Y*
- 4.55%
- 5Y*
- 3.45%
- 10Y*
- 2.28%
- ALL TIME*
- 1.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $32.56K | $33.15K | $77.72K | |
| $334.38M | $282.86M | $284.47M |
IBGB vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -1.86% | 2.62% |
SHV iShares 0-1 Year Treasury Bond ETF | 2.04% | 3.23% |
Correlation
The correlation between IBGB and SHV is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.11 |
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Return for Risk
IBGB vs. SHV — Risk / Return Rank
IBGB
SHV
IBGB vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) 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.
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.
| IBGB | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.93 | ||
| Sortino ratioReturn per unit of downside risk | -89.03 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 28.15 | -27.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 138.81 | -138.84 |
| Martin ratioReturn relative to average drawdown | -0.08 | 1,475.46 | -1,475.55 |
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Drawdowns
IBGB vs. SHV - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for IBGB and SHV.
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Drawdown Indicators
| IBGB | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -0.45% | -7.64% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -0.03% | -6.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -5.59% | 0.00% | -5.59% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -0.03% | -3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.00% | +3.07% |
Volatility
IBGB vs. SHV - Volatility Comparison
iShares iBonds Dec 2045 Term Treasury ETF (IBGB) has a higher volatility of 2.36% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.07%. This indicates that IBGB'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
| IBGB | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 0.07% | +2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 0.14% | +6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 0.20% | +7.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.37% | 0.29% | +9.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 0.28% | +9.09% |
IBGB vs. SHV - Expense Ratio Comparison
IBGB has a 0.07% expense ratio, which is lower than SHV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBGB vs. SHV - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.74%, more than SHV's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.74% | 3.53% | 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 | 3.74% | 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
IBGB and SHV have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGB has higher volatility (2.36%) compared to SHV (0.07%). In terms of maximum drawdown, IBGB dropped -8.09% vs SHV's -0.45%.
On 1-year performance, SHV leads with 3.76% vs -0.26% for IBGB. On fees, IBGB is cheaper at 0.07% per year. On volatility, SHV has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SHV has performed better with a 3.76% return vs -0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 0.15% for SHV.
IBGB has the higher dividend yield at 4.74%, compared with 3.74% for SHV.
IBGB tracks ICE 2045 Maturity US Treasury Index, while SHV tracks ICE Short US Treasury Securities Index. Their fees differ too: 0.07% for IBGB and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (18.90 vs -0.03), 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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