SHV vs. HYGI

Last updated Jun 4, 2026

SHV (iShares 0-1 Year Treasury Bond ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.11 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.52%/yr for HYGI.

Performance

SHV vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-1 Year Treasury Bond ETF (SHV) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

HYGI

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

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

SHV vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SHV iShares 0-1 Year Treasury Bond ETF	1.42%	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%

Correlation

The correlation between SHV and HYGI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022	0.11

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 0-1 Year 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	19.49	—	—
Sortino ratio: Return per unit of downside risk	149.54	—	—
Omega ratio: Gain probability vs. loss probability	53.77	—	—
Calmar ratio: Return relative to maximum drawdown	431.38	—	—
Martin ratio: Return relative to average drawdown	2,419.80	—	—
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	19.49	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	11.56	—	—
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	—	—

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 (3Y) Largest decline over 3 years	-0.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.40%	—	—
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	0.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.29%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	—	—

SHV vs. HYGI - Expense Ratio Comparison

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

Dividends

SHV vs. HYGI - Dividend Comparison

SHV's dividend yield for the trailing twelve months is around 3.83%, more than HYGI's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both SHV and HYGI in my portfolio?

SHV and HYGI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHV or HYGI?

On fees, SHV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHV or HYGI?

SHV is cheaper with a 0.15% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, SHV or HYGI?

SHV has the higher dividend yield at 3.83%, compared with 0.97% for HYGI.

What is the main difference between SHV and HYGI?

SHV is categorized as Government Bonds, while HYGI is Inflation-Protected Bonds. SHV tracks ICE Short US Treasury Securities Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.15% for SHV and 0.52% for HYGI.