NEAR vs. GSY
NEAR (iShares Short Duration Bond Active ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - NEAR is a Short-Term Bond fund actively managed by iShares, while GSY is a Ultrashort Bond fund actively managed by Invesco. Both are actively managed. Over the past 10 years, NEAR returned 2.84%/yr vs 2.86%/yr for GSY. At a 0.37 correlation, their price movements are largely independent. NEAR charges 0.25%/yr vs 0.22%/yr for GSY.
Performance
NEAR vs. GSY - Performance Comparison
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Returns By Period
In the year-to-date period, NEAR achieves a 0.63% return, which is significantly lower than GSY's 1.79% return. Both investments have delivered pretty close results over the past 10 years, with NEAR having a 2.84% annualized return and GSY not far ahead at 2.86%.
NEAR
- 1D
- -0.10%
- 1M
- 0.11%
- YTD
- 0.63%
- 6M
- 0.83%
- 1Y
- 3.79%
- 3Y*
- 5.48%
- 5Y*
- 3.84%
- 10Y*
- 2.84%
GSY
- 1D
- 0.03%
- 1M
- 0.35%
- YTD
- 1.79%
- 6M
- 1.87%
- 1Y
- 4.45%
- 3Y*
- 5.42%
- 5Y*
- 3.69%
- 10Y*
- 2.86%
NEAR vs. GSY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 0.63% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
GSY Invesco Ultra Short Duration ETF | 1.79% | 4.96% | 5.95% | 5.99% | 0.01% | 0.03% | 1.88% | 3.39% | 2.18% | 1.86% |
Correlation
The correlation between NEAR and GSY is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.37 |
The correlation between NEAR and GSY shifts across timeframes, from 0.37 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NEAR vs. GSY — Risk / Return Rank
NEAR
GSY
NEAR vs. GSY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) and Invesco Ultra Short Duration ETF (GSY). 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.
| NEAR | GSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.07 | ||
| Sortino ratioReturn per unit of downside risk | -21.05 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 6.07 | -4.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 74.56 | -71.20 |
| Martin ratioReturn relative to average drawdown | 15.26 | 349.93 | -334.67 |
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Drawdowns
NEAR vs. GSY - Drawdown Comparison
The maximum NEAR drawdown since its inception was -9.61%, smaller than the maximum GSY drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for NEAR and GSY.
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Drawdown Indicators
| NEAR | GSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.61% | -12.14% | +2.53% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -0.06% | -1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -1.16% | -0.18% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -1.32% | -1.48% | +0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -9.61% | -5.25% | -4.36% |
Current DrawdownCurrent decline from peak | -0.24% | 0.00% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.38% | +2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.01% | +0.24% |
Volatility
NEAR vs. GSY - Volatility Comparison
iShares Short Duration Bond Active ETF (NEAR) has a higher volatility of 0.48% compared to Invesco Ultra Short Duration ETF (GSY) at 0.15%. This indicates that NEAR's price experiences larger fluctuations and is considered to be riskier than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEAR | GSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | 0.15% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 0.31% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.39% | 0.41% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.35% | 0.58% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 1.22% | +1.28% |
NEAR vs. GSY - Expense Ratio Comparison
NEAR has a 0.25% expense ratio, which is higher than GSY's 0.22% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NEAR vs. GSY - Dividend Comparison
NEAR's dividend yield for the trailing twelve months is around 4.44%, less than GSY's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSY Invesco Ultra Short Duration ETF | 4.70% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
NEAR iShares Short Duration Bond Active ETF | 4.44% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
NEAR and GSY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEAR has higher volatility (0.48%) compared to GSY (0.15%). In terms of maximum drawdown, NEAR dropped -9.61% vs GSY's -12.14%.
On 10-year performance, GSY leads with 2.86% vs 2.84% for NEAR. On fees, GSY is cheaper at 0.22% per year. On volatility, GSY has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSY has performed better with a 2.86% return vs 2.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSY is cheaper with a 0.22% expense ratio, compared with 0.25% for NEAR.
GSY has the higher dividend yield at 4.70%, compared with 4.44% for NEAR.
NEAR is categorized as Short-Term Bond, while GSY is Ultrashort Bond. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for NEAR and 0.22% for GSY.
GSY currently has the higher Sharpe Ratio (10.83 vs 2.75), 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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