SHY vs. SHYG

Last updated Apr 1, 2026

Compare and contrast key facts about iShares 1-3 Year Treasury Bond ETF (SHY) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG).

SHY and SHYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHY is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 1-3 Year Treasury Bond Index. It was launched on Jul 22, 2002. SHYG is a passively managed fund by iShares that tracks the performance of the Markit iBoxx USD Liquid High Yield 0-5 Index. It was launched on Oct 15, 2013. Both SHY and SHYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHY vs. SHYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 1-3 Year Treasury Bond ETF (SHY) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). The values are adjusted to include any dividend payments, if applicable.

SHY vs. SHYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHY iShares 1-3 Year Treasury Bond ETF	0.27%	4.95%	3.92%	4.16%	-3.88%	-0.71%	3.03%	3.38%	1.46%	0.26%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	-0.16%	7.94%	8.17%	10.38%	-4.71%	4.60%	3.15%	9.93%	0.02%	5.11%

Returns By Period

In the year-to-date period, SHY achieves a 0.27% return, which is significantly higher than SHYG's -0.16% return. Over the past 10 years, SHY has underperformed SHYG with an annualized return of 1.65%, while SHYG has yielded a comparatively higher 5.34% annualized return.

SHY

• 1D: 0.08%
• 1M: -0.47%
• YTD: 0.27%
• 6M: 1.34%
• 1Y: 3.61%
• 3Y*: 3.88%
• 5Y*: 1.70%
• 10Y*: 1.65%

SHYG

• 1D: 0.88%
• 1M: -0.49%
• YTD: -0.16%
• 6M: 1.16%
• 1Y: 6.71%
• 3Y*: 7.66%
• 5Y*: 4.73%
• 10Y*: 5.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SHY vs. SHYG - Expense Ratio Comparison

SHY has a 0.15% expense ratio, which is lower than SHYG's 0.30% expense ratio.

SHYG

iShares 0-5 Year High Yield Corporate Bond ETF

SHY

iShares 1-3 Year Treasury Bond ETF

Return for Risk

SHY vs. SHYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHY

SHY Risk / Return Rank: 96
SHY Sharpe Ratio Rank: 96
SHY Sortino Ratio Rank: 98
SHY Omega Ratio Rank: 97
SHY Calmar Ratio Rank: 96
SHY Martin Ratio Rank: 96

SHYG

SHYG Risk / Return Rank: 80
SHYG Sharpe Ratio Rank: 75
SHYG Sortino Ratio Rank: 79
SHYG Omega Ratio Rank: 86
SHYG Calmar Ratio Rank: 73
SHYG Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SHY vs. SHYG - 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 0-5 Year High Yield Corporate Bond ETF (SHYG). 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.

	SHY	SHYG	Difference
Sharpe ratio Return per unit of total volatility	2.50	1.30	+1.21
Sortino ratio Return per unit of downside risk	4.12	1.94	+2.18
Omega ratio Gain probability vs. loss probability	1.52	1.33	+0.19
Calmar ratio Return relative to maximum drawdown	4.15	1.78	+2.37
Martin ratio Return relative to average drawdown	16.03	10.07	+5.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHY vs. SHYG - Sharpe Ratio Comparison

The current SHY Sharpe Ratio is 2.50, which is higher than the SHYG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of SHY and SHYG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHY	SHYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	1.30	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.83	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.06	0.83	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	1.29	0.71	+0.58

Correlation

The correlation between SHY and SHYG is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SHY vs. SHYG - Dividend Comparison

SHY's dividend yield for the trailing twelve months is around 3.75%, less than SHYG's 7.07% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHY iShares 1-3 Year Treasury Bond ETF	3.75%	3.81%	3.92%	2.99%	1.30%	0.26%	0.94%	2.12%	1.72%	0.98%	0.71%	0.54%
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	7.07%	7.03%	6.93%	6.54%	5.57%	4.83%	5.07%	5.33%	5.90%	5.49%	5.53%	5.17%

Drawdowns

SHY vs. SHYG - Drawdown Comparison

The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SHY and SHYG.

Drawdown Indicators

	SHY	SHYG	Difference
Max Drawdown Largest peak-to-trough decline	-5.71%	-19.26%	+13.55%
Max Drawdown (1Y) Largest decline over 1 year	-0.89%	-3.77%	+2.88%
Max Drawdown (5Y) Largest decline over 5 years	-5.71%	-9.39%	+3.68%
Max Drawdown (10Y) Largest decline over 10 years	-5.71%	-19.26%	+13.55%
Current Drawdown Current decline from peak	-0.47%	-0.76%	+0.29%
Average Drawdown Average peak-to-trough decline	-0.52%	-1.46%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.67%	-0.44%

Volatility

SHY vs. SHYG - Volatility Comparison

The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.58%, while iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a volatility of 1.96%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHY	SHYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	1.96%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	0.89%	2.46%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	1.45%	5.20%	-3.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.97%	5.71%	-3.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.56%	6.43%	-4.87%