IBTS.L vs. SHY
IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both Government Bonds funds from iShares - IBTS.L tracks the ICE U.S. Treasury 1-3 Year Bond Index while SHY tracks the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, IBTS.L returned 2.54%/yr vs 2.45%/yr for SHY. A 0.74 correlation means they provide meaningful diversification when combined. IBTS.L charges 0.07%/yr vs 0.15%/yr for SHY.
Performance
IBTS.L vs. SHY - Performance Comparison
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Different Trading Currencies
IBTS.L is traded in GBP, while SHY is traded in USD. To make them comparable, the SHY values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTS.L achieves a 0.51% return, which is significantly lower than SHY's 0.80% return. Both investments have delivered pretty close results over the past 10 years, with IBTS.L having a 2.54% annualized return and SHY not far behind at 2.45%.
IBTS.L
- 1D
- 0.19%
- 1M
- 1.36%
- YTD
- 0.51%
- 6M
- 0.07%
- 1Y
- 4.08%
- 3Y*
- 1.62%
- 5Y*
- 2.92%
- 10Y*
- 2.54%
SHY
- 1D
- 0.22%
- 1M
- 0.91%
- YTD
- 0.80%
- 6M
- 0.03%
- 1Y
- 4.09%
- 3Y*
- 1.45%
- 5Y*
- 2.80%
- 10Y*
- 2.45%
IBTS.L vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.51% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.21% | -8.60% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.80% | -2.53% | 5.73% | -1.04% | 7.55% | 0.23% | 0.01% | -0.55% | 7.48% | -8.41% |
Correlation
The correlation between IBTS.L and SHY is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2007 | 0.74 |
The correlation between IBTS.L and SHY has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
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Return for Risk
IBTS.L vs. SHY — Risk / Return Rank
IBTS.L
SHY
IBTS.L vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
| IBTS.L | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.12 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.77 | +0.13 |
| Martin ratioReturn relative to average drawdown | 2.29 | 2.11 | +0.18 |
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
| IBTS.L | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.65 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.35 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.26 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.42 | -0.06 |
Drawdowns
IBTS.L vs. SHY - Drawdown Comparison
The maximum IBTS.L drawdown since its inception was -19.02%, roughly equal to the maximum SHY drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for IBTS.L and SHY.
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Drawdown Indicators
| IBTS.L | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.02% | -18.95% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -5.24% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -9.28% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.28% | -16.58% | +0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -19.02% | -18.62% | -0.40% |
Current DrawdownCurrent decline from peak | -7.64% | -8.38% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -8.31% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 1.92% | -0.15% |
Volatility
IBTS.L vs. SHY - Volatility Comparison
iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) has a higher volatility of 1.69% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 1.56%. This indicates that IBTS.L's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTS.L | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.56% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 4.78% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.10% | 6.23% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 8.11% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 9.30% | -0.06% |
IBTS.L vs. SHY - Expense Ratio Comparison
IBTS.L has a 0.07% expense ratio, which is lower than SHY'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
IBTS.L vs. SHY - Dividend Comparison
IBTS.L's dividend yield for the trailing twelve months is around 4.00%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 4.00% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
IBTS.L and SHY have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.15% for SHY.
IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while SHY tracks ICE US Treasury 1-3 Year Index. Their fees differ too: 0.07% for IBTS.L and 0.15% for SHY.
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