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 2.53% vs -44.50% for IBIT. Their -0.00 correlation means they have often moved in opposite directions in the past. 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 0.76% return, which is significantly higher than IBIT's -28.22% return.
SHY
- 1D
- -0.01%
- 1M
- 0.07%
- 6M
- 0.55%
- YTD
- 0.76%
- 1Y
- 2.53%
- 3Y*
- 4.19%
- 5Y*
- 1.78%
- 10Y*
- 1.65%
- ALL TIME*
- 1.95%
IBIT
- 1D
- -2.89%
- 1M
- 2.21%
- 6M
- -24.95%
- YTD
- -28.22%
- 1Y
- -44.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.30B | $1.34B | $1.68B | |
| $257.73M | $267.74M | $273.79M |
SHY vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.76% | 4.95% | 3.99% |
IBIT iShares Bitcoin Trust ETF | -28.22% | -6.41% | 89.87% |
Correlation
The correlation between SHY and IBIT is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.00 |
The correlation between SHY and IBIT shifts across timeframes, from -0.00 (all time) to 0.10 (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 | +3.26 | ||
| Sortino ratioReturn per unit of downside risk | +5.09 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.83 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | -0.87 | +4.30 |
| Martin ratioReturn relative to average drawdown | 13.40 | -1.34 | +14.74 |
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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 -53.30%. 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% | -53.30% | +47.59% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -53.30% | +52.41% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | -50.01% | +50.00% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -18.24% | +17.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 34.66% | -34.43% |
Volatility
SHY vs. IBIT - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.38%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.21%. 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 | 0.38% | 9.21% | -8.83% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 33.74% | -32.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 44.46% | -43.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 49.60% | -47.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 49.60% | -48.03% |
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 3.65%, 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 | 3.32% | 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 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.21%) compared to SHY (0.38%). In terms of maximum drawdown, SHY dropped -5.71% vs IBIT's -53.30%.
On 1-year performance, SHY leads with 2.53% vs -44.50% for IBIT. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.38%. 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 2.53% return vs -44.50%. 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 3.32%, 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 (2.21 vs -1.04), 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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