ITW vs. SHY
ITW (Illinois Tool Works Inc.) is a stock, while SHY (iShares 1-3 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Over the past 10 years, ITW returned 12.41%/yr vs 1.68%/yr for SHY. Their -0.17 correlation means they have often moved in opposite directions in the past.
Performance
ITW vs. SHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ITW achieves a 22.21% return, which is significantly higher than SHY's 0.94% return. Over the past 10 years, ITW has outperformed SHY with an annualized return of 12.41%, while SHY has yielded a comparatively lower 1.68% annualized return.
ITW
- 1D
- 0.77%
- 1M
- 8.40%
- 6M
- 4.23%
- YTD
- 22.21%
- 1Y
- 19.06%
- 3Y*
- 8.99%
- 5Y*
- 8.00%
- 10Y*
- 12.41%
- ALL TIME*
- 13.81%
SHY
- 1D
- 0.04%
- 1M
- 0.21%
- 6M
- 0.75%
- YTD
- 0.94%
- 1Y
- 2.73%
- 3Y*
- 4.16%
- 5Y*
- 1.83%
- 10Y*
- 1.68%
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $492.09M | $425.94M | $386.95M | |
| $322.37M | $279.93M | $281.77M |
ITW vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITW Illinois Tool Works Inc. | 22.21% | -0.43% | -0.97% | 21.56% | -8.46% | 23.60% | 16.42% | 45.60% | -22.10% | 38.92% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.94% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between ITW and SHY is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.17 |
The correlation between ITW and SHY shifts across timeframes, from -0.17 (all time) to 0.26 (1 year), 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
ITW vs. SHY — Risk / Return Rank
ITW
SHY
ITW vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Illinois Tool Works Inc. (ITW) 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.
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.
| ITW | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 3.08 | -1.98 |
| Martin ratioReturn relative to average drawdown | 2.25 | 12.04 | -9.79 |
Loading charts...
Drawdowns
ITW vs. SHY - Drawdown Comparison
The maximum ITW drawdown since its inception was -54.90%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for ITW and SHY.
Loading charts...
Drawdown Indicators
| ITW | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.90% | -5.71% | -49.19% |
Max Drawdown (1Y)Largest decline over 1 year | -17.44% | -0.89% | -16.55% |
Max Drawdown (3Y)Largest decline over 3 years | -20.63% | -0.97% | -19.66% |
Max Drawdown (5Y)Largest decline over 5 years | -28.05% | -5.65% | -22.40% |
Max Drawdown (10Y)Largest decline over 10 years | -37.85% | -5.71% | -32.14% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.83% | -0.52% | -9.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 0.23% | +8.27% |
Volatility
ITW vs. SHY - Volatility Comparison
Illinois Tool Works Inc. (ITW) has a higher volatility of 8.36% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.34%. This indicates that ITW'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.
Loading charts...
Volatility by Period
| ITW | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 0.34% | +8.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.07% | 1.07% | +15.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 1.29% | +20.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 2.00% | +19.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.89% | 1.57% | +22.32% |
Dividends
ITW vs. SHY - Dividend Comparison
ITW's dividend yield for the trailing twelve months is around 2.17%, less than SHY's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITW Illinois Tool Works Inc. | 2.17% | 2.53% | 2.29% | 2.07% | 2.30% | 1.91% | 2.17% | 2.30% | 2.81% | 1.71% | 1.96% | 2.23% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.63% | 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
ITW and SHY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITW has higher volatility (8.36%) compared to SHY (0.34%). In terms of maximum drawdown, ITW dropped -54.90% vs SHY's -5.71%.
SHY currently has the higher Sharpe Ratio (2.12 vs 0.88), 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 ITW and SHY
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