SHY vs. IBIT
SHY (iShares 1-3 Year Treasury Bond ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SHY returned 2.87% vs -39.82% for IBIT. At a correlation of -0.01, they often move in opposite directions. SHY charges 0.15%/yr vs 0.25%/yr for IBIT.
Performance
SHY vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.43% return, which is significantly higher than IBIT's -28.88% return.
SHY
- 1D
- 0.07%
- 1M
- 0.11%
- YTD
- 0.43%
- 6M
- 0.60%
- 1Y
- 2.87%
- 3Y*
- 4.10%
- 5Y*
- 1.75%
- 10Y*
- 1.62%
IBIT
- 1D
- -3.26%
- 1M
- -17.81%
- YTD
- -28.88%
- 6M
- -28.88%
- 1Y
- -39.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHY vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.99% |
IBIT iShares Bitcoin Trust ETF | -28.88% | -6.41% | 89.87% |
Correlation
The correlation between SHY and IBIT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.01 |
The correlation between SHY and IBIT shifts across timeframes, from -0.01 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. IBIT — Risk / Return Rank
SHY
IBIT
SHY vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and iShares Bitcoin Trust ETF (IBIT). 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.
| SHY | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.01 | ||
| Sortino ratioReturn per unit of downside risk | +4.57 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.86 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | -0.77 | +4.01 |
| Martin ratioReturn relative to average drawdown | 12.62 | -1.30 | +13.92 |
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Drawdowns
SHY vs. IBIT - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SHY and IBIT.
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Drawdown Indicators
| SHY | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -52.11% | +46.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -52.11% | +51.22% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -50.47% | +50.16% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -16.85% | +16.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 30.58% | -30.35% |
Volatility
SHY vs. IBIT - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.50%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 13.18%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 13.18% | -12.68% |
Volatility (6M)Calculated over the trailing 6-month period | 1.01% | 34.64% | -33.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 44.31% | -42.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 50.22% | -48.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 50.22% | -48.65% |
SHY vs. IBIT - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SHY vs. IBIT - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.68%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 IBIT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (13.18%) compared to SHY (0.50%). In terms of maximum drawdown, SHY dropped -5.71% vs IBIT's -52.11%.
On 1-year performance, SHY leads with 2.87% vs -39.82% for IBIT. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SHY has performed better with a 2.87% return vs -39.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY is cheaper with a 0.15% expense ratio, compared with 0.25% for IBIT.
SHY has the higher dividend yield at 3.68%, compared with 0.00% for IBIT.
SHY is categorized as Government Bonds, while IBIT is Cryptocurrency. SHY tracks ICE US Treasury 1-3 Year Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.15% for SHY and 0.25% for IBIT.
SHY currently has the higher Sharpe Ratio (2.10 vs -0.90), 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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