IEF vs. ISHG
IEF (iShares 7-10 Year Treasury Bond ETF) and ISHG (iShares 1-3 Year International Treasury Bond ETF) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while ISHG is a International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. Both are passively managed. Over the past 10 years, IEF returned 0.59%/yr vs -0.14%/yr for ISHG. At a 0.20 correlation, their price movements are largely independent. IEF charges 0.15%/yr vs 0.35%/yr for ISHG.
Performance
IEF vs. ISHG - Performance Comparison
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Returns By Period
In the year-to-date period, IEF achieves a -0.47% return, which is significantly lower than ISHG's -0.18% return. Over the past 10 years, IEF has outperformed ISHG with an annualized return of 0.59%, while ISHG has yielded a comparatively lower -0.14% annualized return.
IEF
- 1D
- -0.17%
- 1M
- 0.19%
- YTD
- -0.47%
- 6M
- -0.18%
- 1Y
- 3.39%
- 3Y*
- 2.86%
- 5Y*
- -1.24%
- 10Y*
- 0.59%
ISHG
- 1D
- 0.06%
- 1M
- -0.91%
- YTD
- -0.18%
- 6M
- 0.19%
- 1Y
- 0.99%
- 3Y*
- 4.08%
- 5Y*
- -1.07%
- 10Y*
- -0.14%
IEF vs. ISHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.47% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
ISHG iShares 1-3 Year International Treasury Bond ETF | -0.18% | 13.31% | -4.16% | 3.76% | -10.95% | -7.05% | 7.47% | -0.64% | -3.54% | 10.91% |
Correlation
The correlation between IEF and ISHG is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.20 |
Over the past year, IEF and ISHG have become more correlated (0.53) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
IEF vs. ISHG — Risk / Return Rank
IEF
ISHG
IEF vs. ISHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) 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.
| IEF | ISHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.03 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.20 | +0.64 |
| Martin ratioReturn relative to average drawdown | 2.35 | 0.49 | +1.86 |
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Drawdowns
IEF vs. ISHG - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum ISHG drawdown of -37.24%. Use the drawdown chart below to compare losses from any high point for IEF and ISHG.
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Drawdown Indicators
| IEF | ISHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -37.24% | +13.31% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -5.02% | +0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -8.21% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -23.55% | +2.15% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -25.56% | +1.63% |
Current DrawdownCurrent decline from peak | -11.18% | -22.37% | +11.19% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -18.44% | +13.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.05% | -0.60% |
Volatility
IEF vs. ISHG - Volatility Comparison
iShares 7-10 Year Treasury Bond ETF (IEF) and iShares 1-3 Year International Treasury Bond ETF (ISHG) have volatilities of 1.62% and 1.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | ISHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.62% | 1.67% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 4.76% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 6.51% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 7.58% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 6.94% | -0.31% |
IEF vs. ISHG - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is lower than ISHG's 0.35% expense ratio.
Dividends
IEF vs. ISHG - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.89%, more than ISHG's 1.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.89% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
ISHG iShares 1-3 Year International Treasury Bond ETF | 1.45% | 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
IEF and ISHG have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISHG has higher volatility (1.67%) compared to IEF (1.62%). In terms of maximum drawdown, IEF dropped -23.93% vs ISHG's -37.24%.
On 10-year performance, IEF leads with 0.59% vs -0.14% for ISHG. On fees, IEF is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IEF has performed better with a 0.59% return vs -0.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 0.35% for ISHG.
IEF has the higher dividend yield at 3.89%, compared with 1.45% for ISHG.
IEF is categorized as Government Bonds, while ISHG is International Government Bonds. IEF tracks ICE U.S. Treasury 7-10 Year Bond Index, while ISHG tracks S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year. Their fees differ too: 0.15% for IEF and 0.35% for ISHG.
IEF currently has the higher Sharpe Ratio (0.72 vs 0.15), 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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