PGR vs. SHY
PGR (The Progressive Corporation) 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, PGR returned 23.25%/yr vs 1.63%/yr for SHY. At a correlation of -0.16, they often move in opposite directions.
Performance
PGR vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, PGR achieves a -6.42% return, which is significantly lower than SHY's 0.34% return. Over the past 10 years, PGR has outperformed SHY with an annualized return of 23.25%, while SHY has yielded a comparatively lower 1.63% annualized return.
PGR
- 1D
- -1.84%
- 1M
- 3.23%
- YTD
- -6.42%
- 6M
- -4.51%
- 1Y
- -23.65%
- 3Y*
- 18.74%
- 5Y*
- 18.76%
- 10Y*
- 23.25%
SHY
- 1D
- 0.05%
- 1M
- -0.19%
- YTD
- 0.34%
- 6M
- 0.74%
- 1Y
- 3.33%
- 3Y*
- 4.04%
- 5Y*
- 1.70%
- 10Y*
- 1.63%
PGR vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | -6.42% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.34% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between PGR and SHY is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002 | -0.16 |
The correlation between PGR and SHY shifts across timeframes, from -0.16 (all time) to -0.01 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PGR vs. SHY — Risk / Return Rank
PGR
SHY
PGR vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Progressive Corporation (PGR) 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.
| PGR | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.56 | ||
| Sortino ratioReturn per unit of downside risk | -5.52 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.51 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 3.76 | -4.70 |
| Martin ratioReturn relative to average drawdown | -1.43 | 15.12 | -16.55 |
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
| PGR | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 2.51 | -3.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.86 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.95 | 1.04 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.28 | -0.70 |
Drawdowns
PGR vs. SHY - Drawdown Comparison
The maximum PGR drawdown since its inception was -71.06%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for PGR and SHY.
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Drawdown Indicators
| PGR | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.06% | -5.71% | -65.35% |
Max Drawdown (1Y)Largest decline over 1 year | -25.27% | -0.89% | -24.38% |
Max Drawdown (3Y)Largest decline over 3 years | -30.35% | -0.97% | -29.38% |
Max Drawdown (5Y)Largest decline over 5 years | -30.35% | -5.71% | -24.64% |
Max Drawdown (10Y)Largest decline over 10 years | -30.35% | -5.71% | -24.64% |
Current DrawdownCurrent decline from peak | -26.74% | -0.39% | -26.35% |
Average DrawdownAverage peak-to-trough decline | -14.53% | -0.52% | -14.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.79% | 0.22% | +18.57% |
Volatility
PGR vs. SHY - Volatility Comparison
The Progressive Corporation (PGR) has a higher volatility of 7.57% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.38%. This indicates that PGR'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
| PGR | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.57% | 0.38% | +7.19% |
Volatility (6M)Calculated over the trailing 6-month period | 16.95% | 0.95% | +16.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.76% | 1.33% | +21.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 1.99% | +22.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 1.57% | +22.91% |
Dividends
PGR vs. SHY - Dividend Comparison
PGR's dividend yield for the trailing twelve months is around 6.94%, more than SHY's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | 6.94% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 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
PGR and SHY have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (7.57%) compared to SHY (0.38%). In terms of maximum drawdown, PGR dropped -71.06% vs SHY's -5.71%.
SHY currently has the higher Sharpe Ratio (2.51 vs -1.04), 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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