SHY vs. LTPZ
SHY (iShares 1-3 Year Treasury Bond ETF) and LTPZ (PIMCO 15+ Year US TIPS Index ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while LTPZ is a Inflation-Protected Bonds fund tracking the ICE BofA US Inflation-Linked Treasury (15+ Y). Both are passively managed. Over the past 10 years, SHY returned 1.65%/yr vs 0.75%/yr for LTPZ. A 0.51 correlation means they provide meaningful diversification when combined. SHY charges 0.15%/yr vs 0.20%/yr for LTPZ.
Performance
SHY vs. LTPZ - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with SHY having a 0.55% return and LTPZ slightly lower at 0.53%. Over the past 10 years, SHY has outperformed LTPZ with an annualized return of 1.65%, while LTPZ has yielded a comparatively lower 0.75% annualized return.
SHY
- 1D
- -0.02%
- 1M
- 0.19%
- YTD
- 0.55%
- 6M
- 0.80%
- 1Y
- 3.29%
- 3Y*
- 4.15%
- 5Y*
- 1.74%
- 10Y*
- 1.65%
LTPZ
- 1D
- 0.11%
- 1M
- 1.30%
- YTD
- 0.53%
- 6M
- 0.57%
- 1Y
- 4.30%
- 3Y*
- -0.67%
- 5Y*
- -5.50%
- 10Y*
- 0.75%
SHY vs. LTPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.55% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.53% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
Correlation
The correlation between SHY and LTPZ is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2009 | 0.51 |
The correlation between SHY and LTPZ has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHY vs. LTPZ — Risk / Return Rank
SHY
LTPZ
SHY vs. LTPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and PIMCO 15+ Year US TIPS Index ETF (LTPZ). 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 | LTPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.03 | ||
| Sortino ratioReturn per unit of downside risk | +3.35 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.07 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 0.52 | +3.11 |
| Martin ratioReturn relative to average drawdown | 14.45 | 1.11 | +13.34 |
Loading charts...
Drawdowns
SHY vs. LTPZ - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum LTPZ drawdown of -40.99%. Use the drawdown chart below to compare losses from any high point for SHY and LTPZ.
Loading charts...
Drawdown Indicators
| SHY | LTPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -40.99% | +35.28% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -7.00% | +6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -16.27% | +15.30% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -40.99% | +35.28% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -40.99% | +35.28% |
Current DrawdownCurrent decline from peak | -0.18% | -32.66% | +32.48% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -12.44% | +11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 3.28% | -3.06% |
Volatility
SHY vs. LTPZ - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.40%, while PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a volatility of 2.55%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than LTPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHY | LTPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 2.55% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 6.54% | -5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 9.19% | -7.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 15.87% | -13.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 15.07% | -13.50% |
SHY vs. LTPZ - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than LTPZ's 0.20% 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. LTPZ - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.68%, less than LTPZ's 5.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.22% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
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 LTPZ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.55%) compared to SHY (0.40%). In terms of maximum drawdown, SHY dropped -5.71% vs LTPZ's -40.99%.
On 10-year performance, SHY leads with 1.65% vs 0.75% for LTPZ. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SHY has performed better with a 1.65% return vs 0.75%. 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 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.22%, compared with 3.68% for SHY.
SHY is categorized as Government Bonds, while LTPZ is Inflation-Protected Bonds. SHY tracks ICE US Treasury 1-3 Year Index, while LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y). They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.15% for SHY and 0.20% for LTPZ.
SHY currently has the higher Sharpe Ratio (2.43 vs 0.40), 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.
Find the right allocation for SHY and LTPZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer