SHV vs. GBIL
SHV (iShares 0-1 Year Treasury Bond ETF) and GBIL (Goldman Sachs Access Treasury 0-1 Year ETF) are both Government Bonds funds - SHV tracks the ICE Short US Treasury Securities Index while GBIL tracks the FTSE US Treasury 0-1 Year Composite Select Index. Both are passively managed. Over the past 5 years, SHV returned 3.31%/yr vs 3.32%/yr for GBIL. At a 0.47 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.12%/yr for GBIL.
Performance
SHV vs. GBIL - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SHV at 1.42% and GBIL at 1.42%.
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
GBIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.42%
- 6M
- 1.73%
- 1Y
- 3.91%
- 3Y*
- 4.64%
- 5Y*
- 3.32%
- 10Y*
- —
SHV vs. GBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 1.42% | 4.12% | 5.24% | 4.91% | 1.05% | -0.08% | 0.79% | 2.31% | 1.78% | 0.69% |
Correlation
The correlation between SHV and GBIL is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2016 | 0.47 |
The correlation between SHV and GBIL shifts across timeframes, from 0.47 (all time) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHV vs. GBIL — Risk / Return Rank
SHV
GBIL
SHV vs. GBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year Treasury Bond ETF (SHV) and Goldman Sachs Access Treasury 0-1 Year ETF (GBIL). 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 | GBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +46.65 | ||
| Omega ratioGain probability vs. loss probability | 53.77 | 39.42 | +14.34 |
| Calmar ratioReturn relative to maximum drawdown | 431.38 | 196.43 | +234.95 |
| Martin ratioReturn relative to average drawdown | 2,419.80 | 1,608.66 | +811.13 |
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 | GBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 19.49 | 16.89 | +2.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.56 | 5.78 | +5.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 8.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 4.50 | 4.87 | -0.37 |
Drawdowns
SHV vs. GBIL - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.45%, smaller than the maximum GBIL drawdown of -0.76%. Use the drawdown chart below to compare losses from any high point for SHV and GBIL.
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Drawdown Indicators
| SHV | GBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.45% | -0.76% | +0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -0.01% | -0.02% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | -0.76% | +0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -0.40% | -0.76% | +0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -0.45% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.04% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.00% | 0.00% |
Volatility
SHV vs. GBIL - Volatility Comparison
iShares 0-1 Year Treasury Bond ETF (SHV) has a higher volatility of 0.05% compared to Goldman Sachs Access Treasury 0-1 Year ETF (GBIL) at 0.04%. This indicates that SHV's price experiences larger fluctuations and is considered to be riskier than GBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHV | GBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 0.04% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.12% | 0.14% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.20% | 0.23% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 0.58% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 0.47% | -0.19% |
SHV vs. GBIL - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is higher than GBIL's 0.12% 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. GBIL - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 3.83%, more than GBIL's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBIL Goldman Sachs Access Treasury 0-1 Year ETF | 3.74% | 4.02% | 4.93% | 4.77% | 1.37% | 0.00% | 0.81% | 2.20% | 1.70% | 0.74% | 0.11% | 0.00% |
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 GBIL have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHV has higher volatility (0.05%) compared to GBIL (0.04%). In terms of maximum drawdown, SHV dropped -0.45% vs GBIL's -0.76%.
On 5-year performance, GBIL leads with 3.32% vs 3.31% for SHV. On fees, GBIL is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GBIL has performed better with a 3.32% return vs 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBIL is cheaper with a 0.12% expense ratio, compared with 0.15% for SHV.
SHV has the higher dividend yield at 3.83%, compared with 3.74% for GBIL.
SHV tracks ICE Short US Treasury Securities Index, while GBIL tracks FTSE US Treasury 0-1 Year Composite Select Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.15% for SHV and 0.12% for GBIL.
SHV currently has the higher Sharpe Ratio (19.49 vs 16.89), 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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