SHY vs. VPL
SHY (iShares 1-3 Year Treasury Bond ETF) and VPL (Vanguard FTSE Pacific ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, SHY returned 1.66%/yr vs 9.50%/yr for VPL. Their -0.08 correlation means they have often moved in opposite directions in the past. SHY charges 0.15%/yr vs 0.08%/yr for VPL.
Performance
SHY vs. VPL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHY achieves a 0.78% return, which is significantly lower than VPL's 21.47% return. Over the past 10 years, SHY has underperformed VPL with an annualized return of 1.66%, while VPL has yielded a comparatively higher 9.50% annualized return.
SHY
- 1D
- 0.03%
- 1M
- 0.10%
- 6M
- 0.63%
- YTD
- 0.78%
- 1Y
- 2.55%
- 3Y*
- 4.10%
- 5Y*
- 1.78%
- 10Y*
- 1.66%
- ALL TIME*
- 1.95%
VPL
- 1D
- 0.72%
- 1M
- -1.92%
- 6M
- 11.30%
- YTD
- 21.47%
- 1Y
- 38.65%
- 3Y*
- 19.87%
- 5Y*
- 9.27%
- 10Y*
- 9.50%
- ALL TIME*
- 6.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $273.64M | $272.98M | $274.34M | |
| $39.40M | $44.46M | $59.50M |
SHY vs. VPL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.78% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
VPL Vanguard FTSE Pacific ETF | 21.47% | 32.66% | 1.68% | 15.58% | -15.20% | 1.10% | 16.65% | 18.16% | -14.40% | 28.85% |
Correlation
The correlation between SHY and VPL is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005 | -0.08 |
The correlation between SHY and VPL shifts across timeframes, from -0.08 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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. VPL — Risk / Return Rank
SHY
VPL
SHY vs. VPL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) and Vanguard FTSE Pacific ETF (VPL). 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 | VPL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.31 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 2.91 | -0.03 |
| Martin ratioReturn relative to average drawdown | 11.26 | 8.80 | +2.46 |
Loading charts...
Drawdowns
SHY vs. VPL - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for SHY and VPL.
Loading charts...
Drawdown Indicators
| SHY | VPL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -55.49% | +49.78% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -13.33% | +12.44% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -16.35% | +15.38% |
Max Drawdown (5Y)Largest decline over 5 years | -5.65% | -31.09% | +25.44% |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | -33.90% | +28.19% |
Current DrawdownCurrent decline from peak | 0.00% | -9.04% | +9.04% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -11.59% | +11.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 4.40% | -4.17% |
Volatility
SHY vs. VPL - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.36%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 9.21%. This indicates that SHY experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHY | VPL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 9.21% | -8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 21.71% | -20.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.29% | 23.81% | -22.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 18.35% | -16.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 17.73% | -16.15% |
SHY vs. VPL - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is higher than VPL's 0.08% 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. VPL - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.64%, more than VPL's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.64% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
VPL Vanguard FTSE Pacific ETF | 2.76% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
Frequently Asked Questions
SHY and VPL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPL has higher volatility (9.21%) compared to SHY (0.36%). In terms of maximum drawdown, SHY dropped -5.71% vs VPL's -55.49%.
On 10-year performance, VPL leads with 9.50% vs 1.66% for SHY. On fees, VPL is cheaper at 0.08% per year. On volatility, SHY has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VPL has performed better with a 9.50% return vs 1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPL is cheaper with a 0.08% expense ratio, compared with 0.15% for SHY.
SHY has the higher dividend yield at 3.64%, compared with 2.76% for VPL.
SHY is categorized as Government Bonds, while VPL is Asia Pacific Equities. SHY tracks ICE US Treasury 1-3 Year Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for SHY and 0.08% for VPL.
SHY currently has the higher Sharpe Ratio (1.99 vs 1.63), 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 VPL
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