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SHYG vs. NEAR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SHYG vs. NEAR

Last updated Jun 13, 2026

SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) and NEAR (iShares Short Duration Bond Active 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 NEAR is a Short-Term Bond fund actively managed by iShares. SHYG is passively managed, while NEAR is actively managed. Over the past 10 years, SHYG returned 5.22%/yr vs 2.85%/yr for NEAR. At a 0.16 correlation, their price movements are largely independent. SHYG charges 0.30%/yr vs 0.25%/yr for NEAR.

Performance

SHYG vs. NEAR - 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 Short Duration Bond Active ETF (NEAR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SHYG achieves a 1.72% return, which is significantly higher than NEAR's 0.79% return. Over the past 10 years, SHYG has outperformed NEAR with an annualized return of 5.22%, while NEAR has yielded a comparatively lower 2.85% 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%

NEAR

1D
-0.03%
1M
0.15%
YTD
0.79%
6M
1.16%
1Y
4.05%
3Y*
5.61%
5Y*
3.87%
10Y*
2.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SHYG vs. NEAR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
NEAR
iShares Short Duration Bond Active ETF		0.79%5.90%5.09%7.42%0.41%0.32%1.39%3.55%1.71%1.41%

Correlation

The correlation between SHYG and NEAR is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.45

Correlation (5Y)
Calculated over the trailing 5-year period

0.35

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Oct 17, 2013

0.16

Over the past year, SHYG and NEAR have become more correlated (0.56) than their long-term average of 0.16, meaning their price movements have been converging.

SHYG vs. NEAR - Sectors Allocation Comparison

Sectors
SHYG
NEAR

Utilities

99.3%

-

Real Estate

0.7%

-

Basic Materials

-

-

Communication Services

-

-0.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.1%

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

SHYG
99.3%
NEAR

-

Real Estate

SHYG
0.7%
NEAR

-

Basic Materials

SHYG

-

NEAR

-

Communication Services

SHYG

-

NEAR
-0.0%

Consumer Cyclical

SHYG

-

NEAR

-

Consumer Defensive

SHYG

-

NEAR

-

Energy

SHYG

-

NEAR

-

Financial Services

SHYG

-

NEAR
0.1%

Healthcare

SHYG

-

NEAR

-

Industrials

SHYG

-

NEAR

-

Technology

SHYG

-

NEAR

-

Compare stocks, funds, or ETFs

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iShares 0-5 Year High Yield Corporate Bond ETF

iShares Short Duration Bond Active ETF

Often compared with SHYG:
SHYG vs. HYGSHYG vs. SJNKSHYG vs. SPHYSHYG vs. SHYSHYG vs. SHYLSHYG vs. LQDSHYG vs. HYDB
Often compared with NEAR:
NEAR vs. SGOVNEAR vs. JPSTNEAR vs. MINTNEAR vs. FLOTNEAR vs. SHVNEAR vs. GSYNEAR vs. GSST

Return for Risk

SHYG vs. NEAR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SHYG
SHYG Risk / Return Rank: 8080
Overall Rank
SHYG Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SHYG Sortino Ratio Rank: 8181
Sortino Ratio Rank
SHYG Omega Ratio Rank: 7979
Omega Ratio Rank
SHYG Calmar Ratio Rank: 8181
Calmar Ratio Rank
SHYG Martin Ratio Rank: 8787
Martin Ratio Rank
NEAR
NEAR Risk / Return Rank: 9090
Overall Rank
NEAR Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
NEAR Sortino Ratio Rank: 9595
Sortino Ratio Rank
NEAR Omega Ratio Rank: 9494
Omega Ratio Rank
NEAR Calmar Ratio Rank: 7979
Calmar Ratio Rank
NEAR Martin Ratio Rank: 8888
Martin Ratio Rank
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. NEAR - 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 Short Duration Bond Active ETF (NEAR). 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.

SHYGNEARDifference
Sharpe ratioReturn per unit of total volatility
2.02
2.99

-0.97

Sortino ratioReturn per unit of downside risk
3.11
4.71

-1.61

Omega ratioGain probability vs. loss probability

1.40

1.62

-0.22

Calmar ratioReturn relative to maximum drawdown

3.70

3.59

+0.11

Martin ratioReturn relative to average drawdown

16.02

16.36

-0.34

SHYG vs. NEAR - Sharpe Ratio Comparison

The current SHYG Sharpe Ratio is 2.02, which is lower than the NEAR Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of SHYG and NEAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SHYG vs. NEAR - Drawdown Comparison

The maximum SHYG drawdown since its inception was -19.26%, which is greater than NEAR's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for SHYG and NEAR.

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Drawdown Indicators

SHYGNEARDifference

Max Drawdown

Largest peak-to-trough decline

-19.26%

-9.61%

-9.65%

Max Drawdown (1Y)

Largest decline over 1 year

-1.75%

-1.13%

-0.62%

Max Drawdown (3Y)

Largest decline over 3 years

-4.53%

-1.16%

-3.37%

Max Drawdown (5Y)

Largest decline over 5 years

-9.39%

-1.32%

-8.07%

Max Drawdown (10Y)

Largest decline over 10 years

-19.26%

-9.61%

-9.65%

Current Drawdown

Current decline from peak

0.00%

-0.03%

+0.03%

Average Drawdown

Average peak-to-trough decline

-1.44%

-0.16%

-1.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.40%

0.25%

+0.15%

Volatility

SHYG vs. NEAR - Volatility Comparison

iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) has a higher volatility of 0.98% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.44%. This indicates that SHYG's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SHYGNEARDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.98%

0.44%

+0.54%

Volatility (6M)

Calculated over the trailing 6-month period

2.55%

1.02%

+1.53%

Volatility (1Y)

Calculated over the trailing 1-year period

3.20%

1.36%

+1.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.73%

1.34%

+4.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.42%

2.50%

+3.92%

SHYG vs. NEAR - Expense Ratio Comparison

SHYG has a 0.30% expense ratio, which is higher than NEAR's 0.25% expense ratio.

Dividends

SHYG vs. NEAR - Dividend Comparison

SHYG's dividend yield for the trailing twelve months is around 7.00%, more than NEAR's 4.43% yield.

PositionTTM20252024202320222021202020192018201720162015
NEAR
iShares Short Duration Bond Active ETF		4.43%4.54%5.00%4.59%1.78%0.76%1.53%2.69%2.25%1.52%1.07%0.85%
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 NEAR have a correlation of 0.56, 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 NEAR (0.44%). In terms of maximum drawdown, SHYG dropped -19.26% vs NEAR's -9.61%.

On 10-year performance, SHYG leads with 5.22% vs 2.85% for NEAR. On fees, NEAR is cheaper at 0.25% per year. On volatility, NEAR has been the lower-risk option at 0.44%. 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 2.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

NEAR is cheaper with a 0.25% expense ratio, compared with 0.30% for SHYG.

SHYG has the higher dividend yield at 7.00%, compared with 4.43% for NEAR.

SHYG is categorized as High Yield Bonds, while NEAR is Short-Term Bond. Their fees differ too: 0.30% for SHYG and 0.25% for NEAR.

NEAR currently has the higher Sharpe Ratio (2.99 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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