SHV vs. DFIHX
SHV (iShares 0-1 Year Treasury Bond ETF) and DFIHX (DFA One Year Fixed Income Portfolio) are both funds - SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index, while DFIHX is a Ultrashort Bond fund managed by Dimensional. Over the past 10 years, SHV returned 2.23%/yr vs 1.97%/yr for DFIHX. At a 0.17 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.13%/yr for DFIHX.
Performance
SHV vs. DFIHX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SHV having a 1.47% return and DFIHX slightly lower at 1.42%. Over the past 10 years, SHV has outperformed DFIHX with an annualized return of 2.23%, while DFIHX has yielded a comparatively lower 1.97% annualized return.
SHV
- 1D
- 0.01%
- 1M
- 0.26%
- YTD
- 1.47%
- 6M
- 1.74%
- 1Y
- 3.90%
- 3Y*
- 4.63%
- 5Y*
- 3.33%
- 10Y*
- 2.23%
DFIHX
- 1D
- -0.10%
- 1M
- 0.10%
- YTD
- 1.42%
- 6M
- 1.73%
- 1Y
- 3.55%
- 3Y*
- 4.43%
- 5Y*
- 2.74%
- 10Y*
- 1.97%
SHV vs. DFIHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.47% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
DFIHX DFA One Year Fixed Income Portfolio | 1.42% | 3.41% | 5.41% | 4.98% | -1.19% | -0.19% | 0.62% | 2.44% | 1.87% | 0.94% |
Correlation
The correlation between SHV and DFIHX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2007 | 0.17 |
The correlation between SHV and DFIHX shifts across timeframes, from 0.07 (3 years) to 0.29 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHV vs. DFIHX — Risk / Return Rank
SHV
DFIHX
SHV vs. DFIHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year Treasury Bond ETF (SHV) and DFA One Year Fixed Income Portfolio (DFIHX). 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.
| SHV | DFIHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.52 | ||
| Sortino ratioReturn per unit of downside risk | +141.09 | ||
| Omega ratioGain probability vs. loss probability | 53.77 | 6.40 | +47.37 |
| Calmar ratioReturn relative to maximum drawdown | 431.38 | 9.23 | +422.15 |
| Martin ratioReturn relative to average drawdown | 2,419.80 | 55.98 | +2,363.82 |
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
| SHV | DFIHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 19.49 | 4.97 | +14.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.62 | 2.75 | +8.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 8.09 | 2.49 | +5.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.50 | 1.52 | +2.98 |
Drawdowns
SHV vs. DFIHX - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.45%, smaller than the maximum DFIHX drawdown of -2.53%. Use the drawdown chart below to compare losses from any high point for SHV and DFIHX.
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Drawdown Indicators
| SHV | DFIHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.45% | -2.53% | +2.08% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -0.39% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | -0.49% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -0.39% | -2.26% | +1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -0.45% | -2.26% | +1.81% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.15% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.06% | -0.06% |
Volatility
SHV vs. DFIHX - Volatility Comparison
The current volatility for iShares 0-1 Year Treasury Bond ETF (SHV) is 0.05%, while DFA One Year Fixed Income Portfolio (DFIHX) has a volatility of 0.19%. This indicates that SHV experiences smaller price fluctuations and is considered to be less risky than DFIHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHV | DFIHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.19% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 0.44% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 0.72% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 1.00% | -0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 0.80% | -0.52% |
SHV vs. DFIHX - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is higher than DFIHX's 0.13% 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
SHV vs. DFIHX - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 3.83%, more than DFIHX's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFIHX DFA One Year Fixed Income Portfolio | 3.59% | 3.26% | 4.99% | 3.37% | 1.07% | 0.00% | 0.62% | 2.12% | 1.85% | 1.13% | 0.66% | 0.51% |
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
Frequently Asked Questions
SHV and DFIHX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFIHX has higher volatility (0.19%) compared to SHV (0.05%). In terms of maximum drawdown, SHV dropped -0.45% vs DFIHX's -2.53%.
SHV currently has the higher Sharpe Ratio (19.49 vs 4.97), 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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