SHV vs. IBTF
SHV (iShares 0-1 Year Treasury Bond ETF) and IBTF (iShares iBonds Dec 2025 Term Treasury ETF) are both Government Bonds funds from iShares - SHV tracks the ICE Short US Treasury Securities Index while IBTF tracks the ICE 2025 Maturity US Treasury Index. Both are passively managed. Over the past 5 years, SHV returned 3.35%/yr vs 0.97%/yr for IBTF. At a 0.31 correlation, their price movements are largely independent. SHV charges 0.15%/yr vs 0.07%/yr for IBTF.
Performance
SHV vs. IBTF - Performance Comparison
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Returns By Period
SHV
- 1D
- 0.02%
- 1M
- 0.26%
- YTD
- 1.60%
- 6M
- 1.70%
- 1Y
- 3.83%
- 3Y*
- 4.61%
- 5Y*
- 3.35%
- 10Y*
- 2.23%
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 1.88%
- 3Y*
- 3.74%
- 5Y*
- 0.97%
- 10Y*
- —
SHV vs. IBTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 1.60% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.50% |
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | -6.39% | -2.31% | 3.85% |
Correlation
The correlation between SHV and IBTF is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020 | 0.31 |
Over the past year, the correlation between SHV and IBTF has dropped to 0.05 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
SHV vs. IBTF — Risk / Return Rank
SHV
IBTF
SHV vs. IBTF - 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 iBonds Dec 2025 Term Treasury ETF (IBTF). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHV | IBTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.92 | ||
| Sortino ratioReturn per unit of downside risk | +79.01 | ||
| Omega ratioGain probability vs. loss probability | 35.59 | 6.14 | +29.45 |
| Calmar ratioReturn relative to maximum drawdown | 141.48 | 52.11 | +89.37 |
| Martin ratioReturn relative to average drawdown | 1,585.41 | 263.51 | +1,321.90 |
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Drawdowns
SHV vs. IBTF - Drawdown Comparison
The maximum SHV drawdown since its inception was -0.45%, smaller than the maximum IBTF drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for SHV and IBTF.
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Drawdown Indicators
| SHV | IBTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.45% | -10.45% | +10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -0.04% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.03% | -0.46% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -0.38% | -9.53% | +9.15% |
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% | -3.30% | +3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 0.01% | -0.01% |
Volatility
SHV vs. IBTF - Volatility Comparison
iShares 0-1 Year Treasury Bond ETF (SHV) has a higher volatility of 0.07% compared to iShares iBonds Dec 2025 Term Treasury ETF (IBTF) at 0.00%. This indicates that SHV's price experiences larger fluctuations and is considered to be riskier than IBTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHV | IBTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.00% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 0.15% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.21% | 0.34% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.29% | 2.37% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.28% | 2.55% | -2.27% |
SHV vs. IBTF - Expense Ratio Comparison
SHV has a 0.15% expense ratio, which is higher than IBTF's 0.07% 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. IBTF - Dividend Comparison
SHV's dividend yield for the trailing twelve months is around 3.83%, more than IBTF's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 2.08% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% | 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
SHV and IBTF have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHV has higher volatility (0.07%) compared to IBTF (0.00%). In terms of maximum drawdown, SHV dropped -0.45% vs IBTF's -10.45%.
On 5-year performance, SHV leads with 3.35% vs 0.97% for IBTF. On fees, IBTF is cheaper at 0.07% 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, SHV has performed better with a 3.35% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTF is cheaper with a 0.07% expense ratio, compared with 0.15% for SHV.
SHV has the higher dividend yield at 3.83%, compared with 2.08% for IBTF.
SHV tracks ICE Short US Treasury Securities Index, while IBTF tracks ICE 2025 Maturity US Treasury Index. Their fees differ too: 0.15% for SHV and 0.07% for IBTF.
SHV currently has the higher Sharpe Ratio (18.56 vs 6.63), 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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