SHY vs. BTC-USD
SHY (iShares 1-3 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, SHY returned 1.63%/yr vs 59.68%/yr for BTC-USD. At a 0.01 correlation, their price movements are largely independent.
Performance
SHY vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.34% return, which is significantly higher than BTC-USD's -28.54% return. Over the past 10 years, SHY has underperformed BTC-USD with an annualized return of 1.63%, while BTC-USD has yielded a comparatively higher 59.68% annualized return.
SHY
- 1D
- 0.05%
- 1M
- -0.19%
- YTD
- 0.34%
- 6M
- 0.74%
- 1Y
- 3.33%
- 3Y*
- 4.04%
- 5Y*
- 1.70%
- 10Y*
- 1.63%
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
SHY vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.34% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between SHY and BTC-USD is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2012 | 0.01 |
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Return for Risk
SHY vs. BTC-USD — Risk / Return Rank
SHY
BTC-USD
SHY vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and Bitcoin (BTC-USD). 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.
| SHY | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.47 | ||
| Sortino ratioReturn per unit of downside risk | +5.47 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 0.86 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | -0.80 | +4.56 |
| Martin ratioReturn relative to average drawdown | 15.12 | -1.42 | +16.54 |
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
| SHY | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | -0.95 | +3.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.20 | +0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.04 | 0.87 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 1.13 | +0.15 |
Drawdowns
SHY vs. BTC-USD - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for SHY and BTC-USD.
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Drawdown Indicators
| SHY | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -85.30% | +79.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -51.21% | +50.32% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -51.21% | +50.24% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -76.67% | +70.96% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -83.80% | +78.09% |
Current DrawdownCurrent decline from peak | -0.39% | -49.86% | +49.47% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -42.32% | +41.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 34.46% | -34.24% |
Volatility
SHY vs. BTC-USD - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.38%, while Bitcoin (BTC-USD) has a volatility of 11.59%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 11.59% | -11.21% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 34.53% | -33.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 35.67% | -34.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 44.95% | -42.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 56.71% | -55.14% |
Frequently Asked Questions
SHY and BTC-USD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.59%) compared to SHY (0.38%). In terms of maximum drawdown, SHY dropped -5.71% vs BTC-USD's -85.30%.
SHY currently has the higher Sharpe Ratio (2.51 vs -0.95), 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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