SHY vs. VNO
SHY (iShares 1-3 Year Treasury Bond ETF) is Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while VNO (Vornado Realty Trust) is a stock. Over the past 10 years, SHY returned 1.63%/yr vs -3.63%/yr for VNO. At a correlation of -0.07, they often move in opposite directions.
Performance
SHY vs. VNO - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.34% return, which is significantly lower than VNO's 8.77% return. Over the past 10 years, SHY has outperformed VNO with an annualized return of 1.63%, while VNO has yielded a comparatively lower -3.63% annualized return.
SHY
- 1D
- 0.05%
- 1M
- -0.19%
- YTD
- 0.34%
- 6M
- 0.74%
- 1Y
- 3.33%
- 3Y*
- 4.04%
- 5Y*
- 1.70%
- 10Y*
- 1.63%
VNO
- 1D
- 2.81%
- 1M
- 12.56%
- YTD
- 8.77%
- 6M
- 8.57%
- 1Y
- -8.07%
- 3Y*
- 35.06%
- 5Y*
- -3.27%
- 10Y*
- -3.63%
SHY vs. VNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.34% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
VNO Vornado Realty Trust | 8.77% | -19.09% | 51.32% | 39.50% | -46.66% | 17.78% | -40.43% | 14.93% | -17.75% | -4.53% |
Correlation
The correlation between SHY and VNO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2002 | -0.07 |
The correlation between SHY and VNO shifts across timeframes, from -0.07 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SHY vs. VNO — Risk / Return Rank
SHY
VNO
SHY vs. VNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and Vornado Realty Trust (VNO). 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 | VNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +4.24 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 0.99 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | -0.20 | +3.96 |
| Martin ratioReturn relative to average drawdown | 15.12 | -0.38 | +15.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHY | VNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | -0.25 | +2.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | -0.08 | +0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.04 | -0.09 | +1.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.29 | +0.99 |
Drawdowns
SHY vs. VNO - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum VNO drawdown of -80.89%. Use the drawdown chart below to compare losses from any high point for SHY and VNO.
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Drawdown Indicators
| SHY | VNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -80.89% | +75.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -41.22% | +40.33% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -43.88% | +42.91% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | -72.46% | +66.75% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -80.89% | +75.18% |
Current DrawdownCurrent decline from peak | -0.39% | -41.31% | +40.92% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -20.59% | +20.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 21.24% | -21.02% |
Volatility
SHY vs. VNO - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.38%, while Vornado Realty Trust (VNO) has a volatility of 10.04%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than VNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHY | VNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 10.04% | -9.66% |
Volatility (6M)Calculated over the trailing 6-month period | 0.95% | 23.04% | -22.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.33% | 32.81% | -31.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 41.61% | -39.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 39.11% | -37.54% |
Dividends
SHY vs. VNO - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.69%, more than VNO's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
VNO Vornado Realty Trust | 2.04% | 2.22% | 1.76% | 2.39% | 10.19% | 5.06% | 6.37% | 6.90% | 4.06% | 3.00% | 2.41% | 14.41% |
Frequently Asked Questions
SHY and VNO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNO has higher volatility (10.04%) compared to SHY (0.38%). In terms of maximum drawdown, SHY dropped -5.71% vs VNO's -80.89%.
SHY currently has the higher Sharpe Ratio (2.51 vs -0.25), 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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