SHY vs. SPTS
SHY (iShares 1-3 Year Treasury Bond ETF) and SPTS (SPDR Portfolio Short Term Treasury ETF) are both Government Bonds funds - SHY tracks the ICE US Treasury 1-3 Year Index while SPTS tracks the Bloomberg 1-3 Year U.S. Treasury Index. Both are passively managed. Over the past 10 years, SHY returned 1.65%/yr vs 1.64%/yr for SPTS. Their 0.72 correlation means they have sometimes moved together and sometimes differently. SHY charges 0.15%/yr vs 0.03%/yr for SPTS.
Performance
SHY vs. SPTS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SHY having a 0.76% return and SPTS slightly lower at 0.75%. Both investments have delivered pretty close results over the past 10 years, with SHY having a 1.65% annualized return and SPTS not far behind at 1.64%.
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%
SPTS
- 1D
- -0.07%
- 1M
- 0.00%
- 6M
- 0.58%
- YTD
- 0.75%
- 1Y
- 2.62%
- 3Y*
- 4.34%
- 5Y*
- 1.87%
- 10Y*
- 1.64%
- ALL TIME*
- 1.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $257.73M | $267.74M | $273.79M | |
| $23.39M | $28.59M | $39.91M |
SHY vs. SPTS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.76% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
SPTS SPDR Portfolio Short Term Treasury ETF | 0.75% | 5.05% | 4.20% | 4.27% | -3.86% | -0.72% | 3.23% | 3.56% | 1.08% | 0.59% |
Correlation
The correlation between SHY and SPTS is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.72 |
The correlation between SHY and SPTS shifts across timeframes, from 0.72 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. SPTS — Risk / Return Rank
SHY
SPTS
SHY vs. SPTS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and SPDR Portfolio Short Term Treasury ETF (SPTS). 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 | SPTS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.48 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 3.76 | -0.32 |
| Martin ratioReturn relative to average drawdown | 13.40 | 14.64 | -1.24 |
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Drawdowns
SHY vs. SPTS - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, roughly equal to the maximum SPTS drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for SHY and SPTS.
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Drawdown Indicators
| SHY | SPTS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -5.83% | +0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -0.84% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -0.96% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -5.67% | -5.68% | +0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -5.71% | 0.00% |
Current DrawdownCurrent decline from peak | -0.01% | -0.07% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -1.70% | +1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.21% | +0.02% |
Volatility
SHY vs. SPTS - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.38%, while SPDR Portfolio Short Term Treasury ETF (SPTS) has a volatility of 0.41%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than SPTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | SPTS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 0.41% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 1.00% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 1.34% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 2.00% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 1.70% | -0.13% |
SHY vs. SPTS - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is higher than SPTS's 0.03% expense ratio. However, 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. SPTS - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.65%, less than SPTS's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPTS SPDR Portfolio Short Term Treasury ETF | 3.54% | 3.99% | 4.25% | 3.61% | 1.27% | 0.19% | 0.70% | 2.21% | 2.04% | 1.20% | 0.95% | 0.83% |
Frequently Asked Questions
SHY and SPTS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPTS has higher volatility (0.41%) compared to SHY (0.38%). In terms of maximum drawdown, SHY dropped -5.71% vs SPTS's -5.83%.
On 10-year performance, SHY leads with 1.65% vs 1.64% for SPTS. On fees, SPTS is cheaper at 0.03% per year. Their volatility is very similar. 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 1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPTS is cheaper with a 0.03% expense ratio, compared with 0.15% for SHY.
SPTS has the higher dividend yield at 3.54%, compared with 3.32% for SHY.
SHY tracks ICE US Treasury 1-3 Year Index, while SPTS tracks Bloomberg 1-3 Year U.S. Treasury Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for SHY and 0.03% for SPTS.
SPTS currently has the higher Sharpe Ratio (2.35 vs 2.21), 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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