SHV vs. GSY
Compare and contrast key facts about iShares Short Treasury Bond ETF (SHV) and Invesco Ultra Short Duration ETF (GSY).
SHV and GSY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHV is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Short Treasury Bond Index. It was launched on Jan 11, 2007. GSY is an actively managed fund by Invesco. It was launched on Feb 12, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHV or GSY.
Key characteristics
| SHV | GSY | |
|---|---|---|
| YTD Return | 1.59% | 1.66% |
| 1Y Return | 5.21% | 5.89% |
| 3Y Return (Ann) | 2.49% | 2.51% |
| 5Y Return (Ann) | 1.95% | 2.37% |
| 10Y Return (Ann) | 1.34% | 2.09% |
| Sharpe Ratio | 18.33 | 8.94 |
| Daily Std Dev | 0.28% | 0.66% |
| Max Drawdown | -0.46% | -12.14% |
| Current Drawdown | 0.00% | -0.04% |
Correlation
The correlation between SHV and GSY is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SHV vs. GSY - Performance Comparison
The year-to-date returns for both investments are quite close, with SHV having a 1.59% return and GSY slightly higher at 1.66%. Over the past 10 years, SHV has underperformed GSY with an annualized return of 1.34%, while GSY has yielded a comparatively higher 2.09% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SHV vs. GSY - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is lower than GSY's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SHV vs. GSY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Treasury Bond ETF (SHV) and Invesco Ultra Short Duration ETF (GSY). 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.
Dividends
SHV vs. GSY - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 4.68%, less than GSY's 5.46% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares Short Treasury Bond ETF | 4.68% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% | 0.00% | 0.00% |
GSY Invesco Ultra Short Duration ETF | 5.46% | 4.95% | 1.70% | 0.58% | 1.60% | 2.92% | 2.43% | 2.02% | 1.30% | 1.17% | 1.29% | 1.14% |
Drawdowns
SHV vs. GSY - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.46%, smaller than the maximum GSY drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for SHV and GSY. For additional features, visit the drawdowns tool.
Volatility
SHV vs. GSY - Volatility Comparison
The current volatility for iShares Short Treasury Bond ETF (SHV) is 0.07%, while Invesco Ultra Short Duration ETF (GSY) has a volatility of 0.18%. This indicates that SHV experiences smaller price fluctuations and is considered to be less risky than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.