PTY vs. SHY
PTY (PIMCO Corporate & Income Opportunity Fund) and SHY (iShares 1-3 Year Treasury Bond ETF) are both funds - PTY is a Corporate Bonds fund managed by PIMCO, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Over the past 10 years, PTY returned 8.71%/yr vs 1.65%/yr for SHY. At a 0.01 correlation, their price movements are largely independent. PTY charges 1.19%/yr vs 0.15%/yr for SHY.
Performance
PTY vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, PTY achieves a -3.70% return, which is significantly lower than SHY's 0.55% return. Over the past 10 years, PTY has outperformed SHY with an annualized return of 8.71%, while SHY has yielded a comparatively lower 1.65% annualized return.
PTY
- 1D
- 0.26%
- 1M
- -0.51%
- YTD
- -3.70%
- 6M
- -3.85%
- 1Y
- -4.11%
- 3Y*
- 7.73%
- 5Y*
- -0.75%
- 10Y*
- 8.71%
SHY
- 1D
- -0.02%
- 1M
- 0.31%
- YTD
- 0.55%
- 6M
- 0.80%
- 1Y
- 3.29%
- 3Y*
- 4.15%
- 5Y*
- 1.74%
- 10Y*
- 1.65%
PTY vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | -3.70% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.55% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between PTY and SHY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 26, 2002 | 0.01 |
Over the past year, PTY and SHY have become more correlated (0.23) than their long-term average of 0.01, meaning their price movements have been converging.
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Return for Risk
PTY vs. SHY — Risk / Return Rank
PTY
SHY
PTY vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Corporate & Income Opportunity Fund (PTY) 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.
| PTY | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -4.47 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.50 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | 3.64 | -3.93 |
| Martin ratioReturn relative to average drawdown | -0.57 | 14.45 | -15.02 |
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Drawdowns
PTY vs. SHY - Drawdown Comparison
The maximum PTY drawdown since its inception was -60.86%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for PTY and SHY.
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Drawdown Indicators
| PTY | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.86% | -5.71% | -55.15% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -0.89% | -14.55% |
Max Drawdown (3Y)Largest decline over 3 years | -16.04% | -0.97% | -15.07% |
Max Drawdown (5Y)Largest decline over 5 years | -41.38% | -5.71% | -35.67% |
Max Drawdown (10Y)Largest decline over 10 years | -46.55% | -5.71% | -40.84% |
Current DrawdownCurrent decline from peak | -12.60% | -0.18% | -12.42% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -0.52% | -8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.89% | 0.22% | +7.67% |
Volatility
PTY vs. SHY - Volatility Comparison
PIMCO Corporate & Income Opportunity Fund (PTY) has a higher volatility of 2.64% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.40%. This indicates that PTY'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
| PTY | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 0.40% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 7.49% | 0.95% | +6.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 1.33% | +9.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 1.99% | +15.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.19% | 1.57% | +19.62% |
PTY vs. SHY - Expense Ratio Comparison
PTY has a 1.19% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
PTY vs. SHY - Dividend Comparison
PTY's dividend yield for the trailing twelve months is around 12.15%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PTY PIMCO Corporate & Income Opportunity Fund | 12.15% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 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
PTY and SHY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.64%) compared to SHY (0.40%). In terms of maximum drawdown, PTY dropped -60.86% vs SHY's -5.71%.
SHY currently has the higher Sharpe Ratio (2.43 vs -0.42), 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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