ISHG vs. ^GSPC
ISHG (iShares 1-3 Year International Treasury Bond ETF) is International Government Bonds fund tracking the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, ISHG returned -0.14%/yr vs 13.61%/yr for ^GSPC. At a 0.18 correlation, their price movements are largely independent.
Performance
ISHG vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, ISHG achieves a -0.18% return, which is significantly lower than ^GSPC's 8.56% return. Over the past 10 years, ISHG has underperformed ^GSPC with an annualized return of -0.14%, while ^GSPC has yielded a comparatively higher 13.61% annualized return.
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%
^GSPC
- 1D
- 0.50%
- 1M
- -0.17%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 22.93%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
ISHG vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
^GSPC S&P 500 Index | 8.56% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between ISHG and ^GSPC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2009 | 0.18 |
Over the past year, ISHG and ^GSPC have become more correlated (0.44) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
ISHG vs. ^GSPC — Risk / Return Rank
ISHG
^GSPC
ISHG vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year International Treasury Bond ETF (ISHG) and S&P 500 Index (^GSPC). 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.
| ISHG | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.34 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 2.53 | -2.33 |
| Martin ratioReturn relative to average drawdown | 0.49 | 11.37 | -10.88 |
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Drawdowns
ISHG vs. ^GSPC - Drawdown Comparison
The maximum ISHG drawdown since its inception was -37.24%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ISHG and ^GSPC.
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Drawdown Indicators
| ISHG | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.24% | -56.78% | +19.54% |
Max Drawdown (1Y)Largest decline over 1 year | -5.02% | -9.10% | +4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.21% | -18.90% | +10.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.55% | -25.43% | +1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -25.56% | -33.92% | +8.36% |
Current DrawdownCurrent decline from peak | -22.37% | -2.34% | -20.03% |
Average DrawdownAverage peak-to-trough decline | -18.44% | -10.72% | -7.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.02% | +0.03% |
Volatility
ISHG vs. ^GSPC - Volatility Comparison
The current volatility for iShares 1-3 Year International Treasury Bond ETF (ISHG) is 1.67%, while S&P 500 Index (^GSPC) has a volatility of 4.43%. This indicates that ISHG experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISHG | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 4.43% | -2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 9.70% | -4.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.51% | 12.38% | -5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 16.97% | -9.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 18.09% | -11.15% |
Frequently Asked Questions
ISHG and ^GSPC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^GSPC has higher volatility (4.43%) compared to ISHG (1.67%). In terms of maximum drawdown, ISHG dropped -37.24% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.86 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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