SHY vs. FJRLX
SHY (iShares 1-3 Year Treasury Bond ETF) and FJRLX (Fidelity Limited Term Bond Fund) are both funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while FJRLX is a Total Bond Market fund managed by Fidelity. Over the past 10 years, SHY returned 1.65%/yr vs 2.40%/yr for FJRLX. A 0.78 correlation means they provide meaningful diversification when combined. SHY charges 0.15%/yr vs 0.45%/yr for FJRLX.
Performance
SHY vs. FJRLX - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.43% return, which is significantly lower than FJRLX's 0.71% return. Over the past 10 years, SHY has underperformed FJRLX with an annualized return of 1.65%, while FJRLX has yielded a comparatively higher 2.40% annualized return.
SHY
- 1D
- -0.05%
- 1M
- 0.08%
- YTD
- 0.43%
- 6M
- 0.69%
- 1Y
- 3.32%
- 3Y*
- 4.03%
- 5Y*
- 1.71%
- 10Y*
- 1.65%
FJRLX
- 1D
- 0.00%
- 1M
- 0.35%
- YTD
- 0.71%
- 6M
- 1.05%
- 1Y
- 4.60%
- 3Y*
- 5.49%
- 5Y*
- 2.21%
- 10Y*
- 2.40%
SHY vs. FJRLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
FJRLX Fidelity Limited Term Bond Fund | 0.71% | 6.70% | 4.92% | 6.26% | -6.22% | -1.46% | 5.16% | 6.04% | 0.71% | 1.89% |
Correlation
The correlation between SHY and FJRLX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2013 | 0.78 |
The correlation between SHY and FJRLX has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
SHY vs. FJRLX — Risk / Return Rank
SHY
FJRLX
SHY vs. FJRLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and Fidelity Limited Term Bond Fund (FJRLX). 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 | FJRLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.47 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 2.84 | +0.91 |
| Martin ratioReturn relative to average drawdown | 15.21 | 10.78 | +4.42 |
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 | FJRLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.15 | +0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.80 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.06 | 1.00 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 1.03 | +0.25 |
Drawdowns
SHY vs. FJRLX - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum FJRLX drawdown of -9.89%. Use the drawdown chart below to compare losses from any high point for SHY and FJRLX.
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Drawdown Indicators
| SHY | FJRLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -9.89% | +4.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -1.63% | +0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -1.63% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -9.71% | +4.00% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -9.89% | +4.18% |
Current DrawdownCurrent decline from peak | -0.31% | -0.26% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -1.34% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 0.43% | -0.21% |
Volatility
SHY vs. FJRLX - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.35%, while Fidelity Limited Term Bond Fund (FJRLX) has a volatility of 0.74%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than FJRLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | FJRLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 0.74% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | 1.62% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.34% | 2.15% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.98% | 2.76% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 2.41% | -0.84% |
SHY vs. FJRLX - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than FJRLX's 0.45% expense ratio.
Dividends
SHY vs. FJRLX - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.68%, less than FJRLX's 4.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FJRLX Fidelity Limited Term Bond Fund | 4.08% | 3.93% | 3.36% | 2.38% | 1.26% | 1.25% | 2.38% | 2.44% | 2.29% | 1.79% | 1.88% | 1.60% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
SHY and FJRLX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FJRLX has higher volatility (0.74%) compared to SHY (0.35%). In terms of maximum drawdown, SHY dropped -5.71% vs FJRLX's -9.89%.
SHY currently has the higher Sharpe Ratio (2.49 vs 2.15), 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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