SHY vs. IJT
SHY (iShares 1-3 Year Treasury Bond ETF) and IJT (iShares S&P SmallCap 600 Growth ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while IJT is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Growth Index. Both are passively managed. Over the past 10 years, SHY returned 1.66%/yr vs 11.03%/yr for IJT. Their -0.17 correlation means they have often moved in opposite directions in the past. SHY charges 0.15%/yr vs 0.18%/yr for IJT.
Performance
SHY vs. IJT - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.78% return, which is significantly lower than IJT's 24.93% return. Over the past 10 years, SHY has underperformed IJT with an annualized return of 1.66%, while IJT has yielded a comparatively higher 11.03% annualized return.
SHY
- 1D
- 0.03%
- 1M
- 0.10%
- 6M
- 0.63%
- YTD
- 0.78%
- 1Y
- 2.55%
- 3Y*
- 4.10%
- 5Y*
- 1.78%
- 10Y*
- 1.66%
- ALL TIME*
- 1.95%
IJT
- 1D
- 1.80%
- 1M
- -0.05%
- 6M
- 17.88%
- YTD
- 24.93%
- 1Y
- 34.82%
- 3Y*
- 15.10%
- 5Y*
- 7.04%
- 10Y*
- 11.03%
- ALL TIME*
- 9.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.87M | $35.40M | $31.70M | |
| $273.64M | $272.98M | $274.34M |
SHY vs. IJT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.78% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
IJT iShares S&P SmallCap 600 Growth ETF | 24.93% | 5.26% | 9.33% | 17.11% | -21.32% | 22.37% | 19.22% | 20.98% | -4.40% | 14.47% |
Correlation
The correlation between SHY and IJT is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.17 |
The correlation between SHY and IJT shifts across timeframes, from -0.17 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. IJT — Risk / Return Rank
SHY
IJT
SHY vs. IJT - 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 S&P SmallCap 600 Growth ETF (IJT). 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 | IJT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 3.85 | -0.97 |
| Martin ratioReturn relative to average drawdown | 11.26 | 13.03 | -1.77 |
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Drawdowns
SHY vs. IJT - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum IJT drawdown of -57.61%. Use the drawdown chart below to compare losses from any high point for SHY and IJT.
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Drawdown Indicators
| SHY | IJT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -57.61% | +51.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -9.08% | +8.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -27.41% | +26.44% |
Max Drawdown (5Y)Largest decline over 5 years | -5.65% | -29.24% | +23.59% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -42.03% | +36.32% |
Current DrawdownCurrent decline from peak | 0.00% | -1.56% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -10.25% | +9.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 2.68% | -2.45% |
Volatility
SHY vs. IJT - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.36%, while iShares S&P SmallCap 600 Growth ETF (IJT) has a volatility of 4.45%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than IJT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | IJT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 4.45% | -4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 13.00% | -11.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.29% | 17.84% | -16.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 21.50% | -19.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 23.01% | -21.43% |
SHY vs. IJT - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than IJT's 0.18% 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. IJT - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.64%, more than IJT's 0.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJT iShares S&P SmallCap 600 Growth ETF | 0.69% | 0.91% | 1.06% | 1.02% | 1.08% | 0.63% | 0.68% | 0.92% | 0.92% | 0.86% | 1.03% | 1.14% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.64% | 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 IJT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IJT has higher volatility (4.45%) compared to SHY (0.36%). In terms of maximum drawdown, SHY dropped -5.71% vs IJT's -57.61%.
On 10-year performance, IJT leads with 11.03% vs 1.66% for SHY. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IJT has performed better with a 11.03% return vs 1.66%. 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 0.18% for IJT.
SHY has the higher dividend yield at 3.64%, compared with 0.69% for IJT.
SHY is categorized as Government Bonds, while IJT is Small Cap Growth Equities. SHY tracks ICE US Treasury 1-3 Year Index, while IJT tracks S&P SmallCap 600 Growth Index. Their fees differ too: 0.15% for SHY and 0.18% for IJT.
SHY currently has the higher Sharpe Ratio (1.99 vs 1.96), 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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