SHYM vs. IBIT
SHYM (iShares Short Duration High Yield Muni Active ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. SHYM is actively managed, while IBIT is passively managed. Over the past year, SHYM returned 4.27% vs -43.69% for IBIT. Their -0.01 correlation means they have often moved in opposite directions in the past. SHYM charges 0.35%/yr vs 0.25%/yr for IBIT.
Performance
SHYM vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SHYM achieves a 1.68% return, which is significantly higher than IBIT's -27.17% return.
SHYM
- 1D
- 0.01%
- 1M
- -1.13%
- 6M
- 0.65%
- YTD
- 1.68%
- 1Y
- 4.27%
- 3Y*
- 5.72%
- 5Y*
- 0.39%
- 10Y*
- —
- ALL TIME*
- 1.75%
IBIT
- 1D
- 1.46%
- 1M
- 3.70%
- 6M
- -18.23%
- YTD
- -27.17%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.33B | $1.34B | $1.65B | |
| $4.26M | $4.13M | $7.94M |
SHYM vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 1.68% | 2.58% | 7.39% |
IBIT iShares Bitcoin Trust ETF | -27.17% | -6.41% | 89.87% |
Correlation
The correlation between SHYM and IBIT is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.01 |
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Return for Risk
SHYM vs. IBIT — Risk / Return Rank
SHYM
IBIT
SHYM vs. IBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) and iShares Bitcoin Trust ETF (IBIT). 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.
| SHYM | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.54 | ||
| Sortino ratioReturn per unit of downside risk | +3.64 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.84 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | -0.82 | +2.74 |
| Martin ratioReturn relative to average drawdown | 7.18 | -1.26 | +8.43 |
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Drawdowns
SHYM vs. IBIT - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for SHYM and IBIT.
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Drawdown Indicators
| SHYM | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -53.30% | +30.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -53.30% | +51.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.28% | — | — |
Current DrawdownCurrent decline from peak | -1.22% | -49.28% | +48.06% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -18.29% | +11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 34.80% | -34.20% |
Volatility
SHYM vs. IBIT - Volatility Comparison
The current volatility for iShares Short Duration High Yield Muni Active ETF (SHYM) is 0.89%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.98%. This indicates that SHYM experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYM | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 8.98% | -8.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 33.79% | -31.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 44.48% | -41.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 49.57% | -42.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.85% | 49.57% | -42.72% |
SHYM vs. IBIT - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
SHYM vs. IBIT - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.35%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYM iShares Short Duration High Yield Muni Active ETF | 4.35% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
Frequently Asked Questions
SHYM and IBIT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.98%) compared to SHYM (0.89%). In terms of maximum drawdown, SHYM dropped -22.55% vs IBIT's -53.30%.
On 1-year performance, SHYM leads with 4.27% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, SHYM has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SHYM has performed better with a 4.27% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.35%, compared with 0.00% for IBIT.
SHYM is categorized as High Yield Muni, while IBIT is Cryptocurrency. Their fees differ too: 0.35% for SHYM and 0.25% for IBIT.
SHYM currently has the higher Sharpe Ratio (1.55 vs -0.99), 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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