SHYM vs. USFR
SHYM (iShares Short Duration High Yield Muni Active ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - SHYM is a High Yield Muni fund actively managed by iShares, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. SHYM is actively managed, while USFR is passively managed. Over the past 5 years, SHYM returned 1.06%/yr vs 3.67%/yr for USFR. At a 0.05 correlation, their price movements are largely independent. SHYM charges 0.35%/yr vs 0.15%/yr for USFR.
Performance
SHYM vs. USFR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHYM achieves a 1.93% return, which is significantly higher than USFR's 1.58% return.
SHYM
- 1D
- 0.09%
- 1M
- 0.79%
- YTD
- 1.93%
- 6M
- 2.24%
- 1Y
- 5.14%
- 3Y*
- 6.00%
- 5Y*
- 1.06%
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.58%
- 6M
- 1.96%
- 1Y
- 3.99%
- 3Y*
- 4.75%
- 5Y*
- 3.67%
- 10Y*
- 2.47%
SHYM vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 1.93% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
USFR WisdomTree Floating Rate Treasury Fund | 1.58% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% |
Correlation
The correlation between SHYM and USFR is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.05 |
The correlation between SHYM and USFR shifts across timeframes, from -0.05 (3 years) to 0.06 (5 years), 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
SHYM vs. USFR — Risk / Return Rank
SHYM
USFR
SHYM vs. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). 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.
| SHYM | USFR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.72 | 14.83 | -13.10 |
Sortino ratioReturn per unit of downside risk | 2.52 | 48.59 | -46.07 |
Omega ratioGain probability vs. loss probability | 1.35 | 12.58 | -11.24 |
Calmar ratioReturn relative to maximum drawdown | 2.15 | 203.63 | -201.49 |
Martin ratioReturn relative to average drawdown | 7.27 | 767.72 | -760.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SHYM | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 14.83 | -13.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 9.27 | -9.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.60 | -1.33 |
Drawdowns
SHYM vs. USFR - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for SHYM and USFR.
Loading charts...
Drawdown Indicators
| SHYM | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -1.36% | -21.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -0.02% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | -0.06% | -8.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | -0.18% | -22.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -0.16% | -6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.01% | +0.65% |
Volatility
SHYM vs. USFR - Volatility Comparison
iShares Short Duration High Yield Muni Active ETF (SHYM) has a higher volatility of 0.78% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that SHYM's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHYM | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.06% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | 0.18% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 0.27% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.07% | 0.40% | +6.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.95% | 0.81% | +6.14% |
SHYM vs. USFR - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
SHYM vs. USFR - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.30%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 4.30% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
SHYM and USFR have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYM has higher volatility (0.78%) compared to USFR (0.06%). In terms of maximum drawdown, SHYM dropped -22.55% vs USFR's -1.36%.
On 5-year performance, USFR leads with 3.67% vs 1.06% for SHYM. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, USFR has performed better with a 3.67% return vs 1.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.30%, compared with 3.91% for USFR.
SHYM is categorized as High Yield Muni, while USFR is Government Bonds. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.35% for SHYM and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.83 vs 1.72), 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 SHYM and USFR
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