SHYG vs. IEF

Last updated Apr 4, 2026

Compare and contrast key facts about iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares 7-10 Year Treasury Bond ETF (IEF).

SHYG and IEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. IEF is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 7-10 Year Treasury Bond Index. It was launched on Jul 26, 2002. Both SHYG and IEF 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

SHYG vs. IEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares 7-10 Year Treasury Bond ETF (IEF). The values are adjusted to include any dividend payments, if applicable.

SHYG vs. IEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	0.17%	7.94%	8.17%	10.38%	-4.71%	4.60%	3.15%	9.93%	0.02%	5.11%
IEF iShares 7-10 Year Treasury Bond ETF	0.01%	8.03%	-0.63%	3.64%	-15.15%	-3.33%	10.01%	8.03%	0.99%	2.55%

Returns By Period

In the year-to-date period, SHYG achieves a 0.17% return, which is significantly higher than IEF's 0.01% return. Over the past 10 years, SHYG has outperformed IEF with an annualized return of 5.42%, while IEF has yielded a comparatively lower 0.79% annualized return.

SHYG

• 1D: 0.19%
• 1M: -0.30%
• YTD: 0.17%
• 6M: 1.43%
• 1Y: 8.12%
• 3Y*: 7.81%
• 5Y*: 4.80%
• 10Y*: 5.42%

IEF

• 1D: 0.23%
• 1M: -1.27%
• YTD: 0.01%
• 6M: 0.69%
• 1Y: 2.78%
• 3Y*: 2.14%
• 5Y*: -0.73%
• 10Y*: 0.79%

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

SHYG vs. IEF - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is higher than IEF's 0.15% expense ratio.

SHYG

iShares 0-5 Year High Yield Corporate Bond ETF

IEF

iShares 7-10 Year Treasury Bond ETF

Return for Risk

SHYG vs. IEF — Risk / Return Rank

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

SHYG

SHYG Risk / Return Rank: 71
SHYG Sharpe Ratio Rank: 69
SHYG Sortino Ratio Rank: 73
SHYG Omega Ratio Rank: 81
SHYG Calmar Ratio Rank: 57
SHYG Martin Ratio Rank: 77

IEF

IEF Risk / Return Rank: 31
IEF Sharpe Ratio Rank: 34
IEF Sortino Ratio Rank: 33
IEF Omega Ratio Rank: 27
IEF Calmar Ratio Rank: 34
IEF Martin Ratio Rank: 26

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.

SHYG vs. IEF - 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 7-10 Year Treasury Bond ETF (IEF). 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.

	SHYG	IEF	Difference
Sharpe ratio Return per unit of total volatility	1.29	0.72	+0.57
Sortino ratio Return per unit of downside risk	1.93	1.06	+0.86
Omega ratio Gain probability vs. loss probability	1.33	1.12	+0.20
Calmar ratio Return relative to maximum drawdown	1.82	1.16	+0.66
Martin ratio Return relative to average drawdown	10.28	2.87	+7.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYG vs. IEF - Sharpe Ratio Comparison

The current SHYG Sharpe Ratio is 1.29, which is higher than the IEF Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of SHYG and IEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYG	IEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	0.72	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	-0.10	+0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.12	+0.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.51	+0.21

Correlation

The correlation between SHYG and IEF is 0.07, 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

SHYG vs. IEF - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.07%, more than IEF's 3.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IEF iShares 7-10 Year Treasury Bond ETF	3.84%	3.77%	3.62%	2.91%	1.96%	0.83%	1.08%	2.08%	2.24%	1.82%	1.81%	1.90%

Drawdowns

SHYG vs. IEF - Drawdown Comparison

The maximum SHYG drawdown since its inception was -19.26%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for SHYG and IEF.

Drawdown Indicators

	SHYG	IEF	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-23.93%	+4.67%
Max Drawdown (1Y) Largest decline over 1 year	-1.75%	-3.22%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-9.39%	-21.40%	+12.01%
Max Drawdown (10Y) Largest decline over 10 years	-19.26%	-23.93%	+4.67%
Current Drawdown Current decline from peak	-0.43%	-10.75%	+10.32%
Average Drawdown Average peak-to-trough decline	-1.46%	-5.30%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.30%	-0.63%

Volatility

SHYG vs. IEF - Volatility Comparison

iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) and iShares 7-10 Year Treasury Bond ETF (IEF) have volatilities of 1.92% and 1.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYG	IEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	1.93%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	3.21%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	5.20%	5.34%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.71%	7.69%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.43%	6.63%	-0.20%