IBTL vs. SHV
IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBTL tracks the ICE 2031 Maturity US Treasury Index while SHV tracks the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 3 years, IBTL returned 2.83%/yr vs 4.64%/yr for SHV. At a 0.30 correlation, their price movements are largely independent. IBTL charges 0.07%/yr vs 0.15%/yr for SHV.
Performance
IBTL vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, IBTL achieves a -0.47% return, which is significantly lower than SHV's 1.42% return.
IBTL
- 1D
- -0.15%
- 1M
- -0.21%
- YTD
- -0.47%
- 6M
- -0.69%
- 1Y
- 3.77%
- 3Y*
- 2.83%
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
IBTL vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | -0.47% | 7.85% | 0.36% | 3.60% | -15.60% | -1.37% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.05% |
Correlation
The correlation between IBTL and SHV is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2021 | 0.30 |
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Return for Risk
IBTL vs. SHV — Risk / Return Rank
IBTL
SHV
IBTL vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) 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.
| IBTL | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.44 | ||
| Sortino ratioReturn per unit of downside risk | -147.94 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 53.77 | -52.58 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 431.38 | -430.05 |
| Martin ratioReturn relative to average drawdown | 3.90 | 2,419.80 | -2,415.90 |
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
| IBTL | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 19.49 | -18.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 11.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.21 | 4.50 | -4.70 |
Drawdowns
IBTL vs. SHV - Drawdown Comparison
The maximum IBTL drawdown since its inception was -20.93%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for IBTL and SHV.
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Drawdown Indicators
| IBTL | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.93% | -0.45% | -20.48% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -0.01% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -7.38% | -0.03% | -7.35% |
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 | -7.25% | 0.00% | -7.25% |
Average DrawdownAverage peak-to-trough decline | -11.47% | -0.03% | -11.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.00% | +0.97% |
Volatility
IBTL vs. SHV - Volatility Comparison
iShares iBonds Dec 2031 Term Treasury ETF (IBTL) has a higher volatility of 1.08% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that IBTL'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
| IBTL | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 0.05% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 0.12% | +2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.62% | 0.20% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.46% | 0.29% | +7.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 0.28% | +7.18% |
IBTL vs. SHV - Expense Ratio Comparison
IBTL 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
IBTL vs. SHV - Dividend Comparison
IBTL's dividend yield for the trailing twelve months is around 3.97%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.97% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% | 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
IBTL and SHV have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTL has higher volatility (1.08%) compared to SHV (0.05%). In terms of maximum drawdown, IBTL dropped -20.93% vs SHV's -0.45%.
On 3-year performance, SHV leads with 4.64% vs 2.83% for IBTL. On fees, IBTL is cheaper at 0.07% 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, SHV has performed better with a 4.64% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTL is cheaper with a 0.07% expense ratio, compared with 0.15% for SHV.
IBTL has the higher dividend yield at 3.97%, compared with 3.83% for SHV.
IBTL tracks ICE 2031 Maturity US Treasury Index, while SHV tracks ICE Short US Treasury Securities Index. Their fees differ too: 0.07% for IBTL and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 1.05), 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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