SHYG vs. FLOT
SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - SHYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield 0-5 Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, SHYG returned 5.22%/yr vs 3.04%/yr for FLOT. At a 0.18 correlation, their price movements are largely independent. SHYG charges 0.30%/yr vs 0.15%/yr for FLOT.
Performance
SHYG vs. FLOT - Performance Comparison
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Returns By Period
In the year-to-date period, SHYG achieves a 1.72% return, which is significantly lower than FLOT's 1.99% return. Over the past 10 years, SHYG has outperformed FLOT with an annualized return of 5.22%, while FLOT has yielded a comparatively lower 3.04% annualized return.
SHYG
- 1D
- 0.05%
- 1M
- 0.44%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 6.45%
- 3Y*
- 8.09%
- 5Y*
- 4.82%
- 10Y*
- 5.22%
FLOT
- 1D
- 0.02%
- 1M
- 0.47%
- YTD
- 1.99%
- 6M
- 2.23%
- 1Y
- 4.87%
- 3Y*
- 5.66%
- 5Y*
- 4.22%
- 10Y*
- 3.04%
SHYG vs. FLOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.72% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | 0.02% | 5.11% |
FLOT iShares Floating Rate Bond ETF | 1.99% | 4.91% | 6.53% | 6.43% | 1.28% | 0.45% | 0.87% | 3.97% | 1.48% | 1.65% |
Correlation
The correlation between SHYG and FLOT is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013 | 0.18 |
Over the past year, SHYG and FLOT have become more correlated (0.40) than their long-term average of 0.18, meaning their price movements have been converging.
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Return for Risk
SHYG vs. FLOT — Risk / Return Rank
SHYG
FLOT
SHYG vs. FLOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares Floating Rate Bond ETF (FLOT). 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.
| SHYG | FLOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.53 | ||
| Sortino ratioReturn per unit of downside risk | -8.73 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 3.23 | -1.83 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 11.32 | -7.62 |
| Martin ratioReturn relative to average drawdown | 16.02 | 105.27 | -89.25 |
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Drawdowns
SHYG vs. FLOT - Drawdown Comparison
The maximum SHYG drawdown since its inception was -19.26%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for SHYG and FLOT.
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Drawdown Indicators
| SHYG | FLOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -13.54% | -5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -0.43% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -1.57% | -2.96% |
Max Drawdown (5Y)Largest decline over 5 years | -9.39% | -2.36% | -7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -19.26% | -13.54% | -5.72% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -0.21% | -1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.05% | +0.35% |
Volatility
SHYG vs. FLOT - Volatility Comparison
iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 0.98% compared to iShares Floating Rate Bond ETF (FLOT) at 0.21%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYG | FLOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.21% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 0.63% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.20% | 0.75% | +2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.73% | 1.77% | +3.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.42% | 4.15% | +2.27% |
SHYG vs. FLOT - Expense Ratio Comparison
SHYG has a 0.30% expense ratio, which is higher than FLOT's 0.15% expense ratio.
Dividends
SHYG vs. FLOT - Dividend Comparison
SHYG's dividend yield for the trailing twelve months is around 7.00%, more than FLOT's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLOT iShares Floating Rate Bond ETF | 4.53% | 4.84% | 5.82% | 5.66% | 2.06% | 0.43% | 1.25% | 2.78% | 2.41% | 1.46% | 0.97% | 0.53% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 7.00% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
Frequently Asked Questions
SHYG and FLOT have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYG has higher volatility (0.98%) compared to FLOT (0.21%). In terms of maximum drawdown, SHYG dropped -19.26% vs FLOT's -13.54%.
On 10-year performance, SHYG leads with 5.22% vs 3.04% for FLOT. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SHYG has performed better with a 5.22% return vs 3.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLOT is cheaper with a 0.15% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 7.00%, compared with 4.53% for FLOT.
SHYG is categorized as High Yield Bonds, while FLOT is Ultrashort Bond. SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. Their fees differ too: 0.30% for SHYG and 0.15% for FLOT.
FLOT currently has the higher Sharpe Ratio (6.56 vs 2.02), 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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