SHY vs. PGR
SHY (iShares 1-3 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while PGR (The Progressive Corporation) is a stock. Over the past 10 years, SHY returned 1.65%/yr vs 23.82%/yr for PGR. At a correlation of -0.16, they often move in opposite directions.
Performance
SHY vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.70% return, which is significantly higher than PGR's -0.79% return. Over the past 10 years, SHY has underperformed PGR with an annualized return of 1.65%, while PGR has yielded a comparatively higher 23.82% annualized return.
SHY
- 1D
- -0.04%
- 1M
- 0.25%
- 6M
- 0.74%
- YTD
- 0.70%
- 1Y
- 2.97%
- 3Y*
- 4.14%
- 5Y*
- 1.78%
- 10Y*
- 1.65%
- ALL TIME*
- 1.95%
PGR
- 1D
- 2.06%
- 1M
- 3.64%
- 6M
- 4.97%
- YTD
- -0.79%
- 1Y
- -8.28%
- 3Y*
- 23.12%
- 5Y*
- 20.34%
- 10Y*
- 23.82%
- ALL TIME*
- 16.86%
SHY vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.70% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
PGR The Progressive Corporation | -0.79% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
Correlation
The correlation between SHY and PGR is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2002 | -0.16 |
The correlation between SHY and PGR shifts across timeframes, from -0.16 (all time) to -0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. PGR — Risk / Return Rank
SHY
PGR
SHY vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and The Progressive Corporation (PGR). 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 | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.96 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | -0.42 | +3.77 |
| Martin ratioReturn relative to average drawdown | 13.14 | -0.71 | +13.85 |
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Drawdowns
SHY vs. PGR - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for SHY and PGR.
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Drawdown Indicators
| SHY | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -71.06% | +65.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -19.79% | +18.90% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -30.35% | +29.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -30.35% | +24.64% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -30.35% | +24.64% |
Current DrawdownCurrent decline from peak | -0.05% | -22.33% | +22.28% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -14.55% | +14.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 11.71% | -11.48% |
Volatility
SHY vs. PGR - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.41%, while The Progressive Corporation (PGR) has a volatility of 14.04%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 14.04% | -13.63% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 20.19% | -19.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 25.34% | -23.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 25.16% | -23.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 24.79% | -23.21% |
Dividends
SHY vs. PGR - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.65%, less than PGR's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | 6.55% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.65% | 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 PGR have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (14.04%) compared to SHY (0.41%). In terms of maximum drawdown, SHY dropped -5.71% vs PGR's -71.06%.
SHY currently has the higher Sharpe Ratio (2.16 vs -0.33), 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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