IBTF vs. SHYM
IBTF (iShares iBonds Dec 2025 Term Treasury ETF) and SHYM (iShares Short Duration High Yield Muni Active ETF) are both exchange-traded funds - IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury Index, while SHYM is a High Yield Muni fund actively managed by iShares. IBTF is passively managed, while SHYM is actively managed. Over the past 5 years, IBTF returned 0.90%/yr vs 0.99%/yr for SHYM. At a 0.32 correlation, their price movements are largely independent. IBTF charges 0.07%/yr vs 0.35%/yr for SHYM.
Performance
IBTF vs. SHYM - Performance Comparison
Loading charts...
Returns By Period
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.14%
- 3Y*
- 3.66%
- 5Y*
- 0.90%
- 10Y*
- —
SHYM
- 1D
- 0.00%
- 1M
- 0.89%
- YTD
- 1.93%
- 6M
- 2.33%
- 1Y
- 5.18%
- 3Y*
- 6.00%
- 5Y*
- 0.99%
- 10Y*
- —
IBTF vs. SHYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | -6.39% | -0.74% |
SHYM iShares Short Duration High Yield Muni Active ETF | 1.93% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
Correlation
The correlation between IBTF and SHYM is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.32 |
The correlation between IBTF and SHYM shifts across timeframes, from -0.19 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBTF vs. SHYM — Risk / Return Rank
IBTF
SHYM
IBTF vs. SHYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) and iShares Short Duration High Yield Muni Active ETF (SHYM). 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.
| IBTF | SHYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.34 | ||
| Sortino ratioReturn per unit of downside risk | +17.53 | ||
| Omega ratioGain probability vs. loss probability | 6.23 | 1.35 | +4.88 |
| Calmar ratioReturn relative to maximum drawdown | 59.41 | 2.33 | +57.08 |
| Martin ratioReturn relative to average drawdown | 269.70 | 7.86 | +261.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBTF | SHYM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.08 | 1.74 | +5.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.14 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.27 | +0.18 |
Drawdowns
IBTF vs. SHYM - Drawdown Comparison
The maximum IBTF drawdown since its inception was -10.45%, smaller than the maximum SHYM drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for IBTF and SHYM.
Loading charts...
Drawdown Indicators
| IBTF | SHYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.45% | -22.55% | +12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -2.23% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.67% | -8.06% | +7.39% |
Max Drawdown (5Y)Largest decline over 5 years | -9.53% | -22.55% | +13.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -6.76% | +3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.66% | -0.65% |
Volatility
IBTF vs. SHYM - Volatility Comparison
The current volatility for iShares iBonds Dec 2025 Term Treasury ETF (IBTF) is 0.00%, while iShares Short Duration High Yield Muni Active ETF (SHYM) has a volatility of 0.77%. This indicates that IBTF experiences smaller price fluctuations and is considered to be less risky than SHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBTF | SHYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.77% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 1.81% | -1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.36% | 2.99% | -2.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.38% | 7.07% | -4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.56% | 6.95% | -4.39% |
IBTF vs. SHYM - Expense Ratio Comparison
IBTF has a 0.07% expense ratio, which is lower than SHYM's 0.35% expense ratio.
Dividends
IBTF vs. SHYM - Dividend Comparison
IBTF's dividend yield for the trailing twelve months is around 2.08%, less than SHYM's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 2.08% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.30% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% |
Frequently Asked Questions
IBTF and SHYM have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYM has higher volatility (0.77%) compared to IBTF (0.00%). In terms of maximum drawdown, IBTF dropped -10.45% vs SHYM's -22.55%.
On 5-year performance, SHYM leads with 0.99% vs 0.90% for IBTF. On fees, IBTF is cheaper at 0.07% per year. On volatility, IBTF has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SHYM has performed better with a 0.99% return vs 0.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTF is cheaper with a 0.07% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.30%, compared with 2.08% for IBTF.
IBTF is categorized as Government Bonds, while SHYM is High Yield Muni. Their fees differ too: 0.07% for IBTF and 0.35% for SHYM.
IBTF currently has the higher Sharpe Ratio (7.08 vs 1.74), 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.
Find the right allocation for IBTF and SHYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer