SHV vs. HYGI

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Short Treasury Bond ETF (SHV) and iShares Inflation Hedged High Yield Bond ETF (HYGI).

SHV and HYGI 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. HYGI is a passively managed fund by iShares that tracks the performance of the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. It was launched on Jun 22, 2022. Both SHV and HYGI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHV vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Short Treasury Bond ETF (SHV) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

SHV vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SHV iShares Short Treasury Bond ETF	0.82%	4.21%	5.12%	5.04%	1.17%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%

Returns By Period

SHV

• 1D: 0.01%
• 1M: 0.28%
• YTD: 0.82%
• 6M: 1.81%
• 1Y: 3.99%
• 3Y*: 4.68%
• 5Y*: 3.19%
• 10Y*: 2.17%

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHV vs. HYGI - Expense Ratio Comparison

SHV has a 0.15% expense ratio, which is lower than HYGI's 0.52% expense ratio.

HYGI

iShares Inflation Hedged High Yield Bond ETF

SHV

iShares Short Treasury Bond ETF

Return for Risk

SHV vs. HYGI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHV

SHV Risk / Return Rank: 100
SHV Sharpe Ratio Rank: 100
SHV Sortino Ratio Rank: 100
SHV Omega Ratio Rank: 100
SHV Calmar Ratio Rank: 100
SHV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHV vs. HYGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Short Treasury Bond ETF (SHV) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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	HYGI	Difference
Sharpe ratio Return per unit of total volatility	19.52	—	—
Sortino ratio Return per unit of downside risk	152.74	—	—
Omega ratio Gain probability vs. loss probability	54.89	—	—
Calmar ratio Return relative to maximum drawdown	441.44	—	—
Martin ratio Return relative to average drawdown	2,481.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SHV	HYGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	19.52	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	11.08	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	7.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.44	—	—

Correlation

The correlation between SHV and HYGI 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.

Dividends

SHV vs. HYGI - Dividend Comparison

SHV's dividend yield for the trailing twelve months is around 3.93%, more than HYGI's 2.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHV iShares Short Treasury Bond ETF	3.93%	4.09%	5.02%	4.73%	1.39%	0.00%	0.74%	2.19%	1.66%	0.72%	0.34%	0.03%
HYGI iShares Inflation Hedged High Yield Bond ETF	2.46%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	SHV	HYGI	Difference
Max Drawdown Largest peak-to-trough decline	-0.45%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-0.45%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-0.03%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	SHV	HYGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.29%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	—	—