QLTA vs. SHY
QLTA (iShares Aaa - A Rated Corporate Bond ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - QLTA is a Corporate Bonds fund tracking the Bloomberg U.S. Corporate Aaa - A Capped Index, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, QLTA returned 2.00%/yr vs 1.65%/yr for SHY. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
QLTA vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, QLTA achieves a 0.31% return, which is significantly lower than SHY's 0.43% return. Over the past 10 years, QLTA has outperformed SHY with an annualized return of 2.00%, while SHY has yielded a comparatively lower 1.65% annualized return.
QLTA
- 1D
- -0.19%
- 1M
- 0.50%
- YTD
- 0.31%
- 6M
- 0.04%
- 1Y
- 5.42%
- 3Y*
- 4.51%
- 5Y*
- 0.10%
- 10Y*
- 2.00%
SHY
- 1D
- -0.05%
- 1M
- 0.08%
- YTD
- 0.43%
- 6M
- 0.69%
- 1Y
- 3.32%
- 3Y*
- 4.03%
- 5Y*
- 1.71%
- 10Y*
- 1.65%
QLTA vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QLTA iShares Aaa - A Rated Corporate Bond ETF | 0.31% | 7.36% | 1.23% | 7.60% | -15.14% | -2.32% | 9.62% | 12.54% | -2.27% | 5.69% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between QLTA and SHY is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2012 | 0.62 |
The correlation between QLTA and SHY shifts across timeframes, from 0.62 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
QLTA vs. SHY — Risk / Return Rank
QLTA
SHY
QLTA vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Aaa - A Rated Corporate Bond ETF (QLTA) 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.
| QLTA | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.51 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 3.75 | -1.81 |
| Martin ratioReturn relative to average drawdown | 5.80 | 15.21 | -9.41 |
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
| QLTA | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 2.49 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.87 | -0.85 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 1.06 | -0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 1.28 | -0.89 |
Drawdowns
QLTA vs. SHY - Drawdown Comparison
The maximum QLTA drawdown since its inception was -22.27%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for QLTA and SHY.
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Drawdown Indicators
| QLTA | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.27% | -5.71% | -16.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -0.89% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -6.66% | -0.97% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | -21.36% | -5.71% | -15.65% |
Max Drawdown (10Y)Largest decline over 10 years | -22.27% | -5.71% | -16.56% |
Current DrawdownCurrent decline from peak | -3.41% | -0.31% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -0.52% | -4.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.22% | +0.72% |
Volatility
QLTA vs. SHY - Volatility Comparison
iShares Aaa - A Rated Corporate Bond ETF (QLTA) has a higher volatility of 1.37% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.35%. This indicates that QLTA'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
| QLTA | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 0.35% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 0.92% | +2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 1.34% | +3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 1.98% | +5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.02% | 1.57% | +5.45% |
QLTA vs. SHY - Expense Ratio Comparison
Both QLTA and SHY have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
QLTA vs. SHY - Dividend Comparison
QLTA's dividend yield for the trailing twelve months is around 4.47%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLTA iShares Aaa - A Rated Corporate Bond ETF | 4.47% | 4.33% | 4.11% | 3.39% | 2.79% | 1.96% | 2.31% | 2.99% | 3.09% | 2.67% | 2.59% | 2.99% |
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
QLTA and SHY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLTA has higher volatility (1.37%) compared to SHY (0.35%). In terms of maximum drawdown, QLTA dropped -22.27% vs SHY's -5.71%.
On 10-year performance, QLTA leads with 2.00% vs 1.65% for SHY. Both ETFs have the same 0.15% expense ratio. On volatility, SHY has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLTA has performed better with a 2.00% return vs 1.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLTA and SHY have the same expense ratio: 0.15% per year.
QLTA has the higher dividend yield at 4.47%, compared with 3.68% for SHY.
QLTA is categorized as Corporate Bonds, while SHY is Government Bonds. QLTA tracks Bloomberg U.S. Corporate Aaa - A Capped Index, while SHY tracks ICE US Treasury 1-3 Year Index.
SHY currently has the higher Sharpe Ratio (2.49 vs 1.25), 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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