SLQD vs. SHYM
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and SHYM (iShares Short Duration High Yield Muni Active ETF) are both exchange-traded funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while SHYM is a High Yield Muni fund actively managed by iShares. SLQD is passively managed, while SHYM is actively managed. Over the past 5 years, SLQD returned 2.53%/yr vs 0.39%/yr for SHYM. Their 0.50 correlation means they have sometimes moved together and sometimes differently. SLQD charges 0.06%/yr vs 0.35%/yr for SHYM.
Performance
SLQD vs. SHYM - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 1.10% return, which is significantly lower than SHYM's 1.67% return.
SLQD
- 1D
- -0.05%
- 1M
- -0.14%
- 6M
- 0.70%
- YTD
- 1.10%
- 1Y
- 3.24%
- 3Y*
- 5.31%
- 5Y*
- 2.53%
- 10Y*
- 2.60%
- ALL TIME*
- 2.50%
SHYM
- 1D
- -0.05%
- 1M
- -1.14%
- 6M
- 0.76%
- YTD
- 1.67%
- 1Y
- 4.26%
- 3Y*
- 5.36%
- 5Y*
- 0.39%
- 10Y*
- —
- ALL TIME*
- 1.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.04M | $4.20M | $7.86M | |
| $10.60M | $10.54M | $10.26M |
SLQD vs. SHYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 1.10% | 6.27% | 4.94% | 5.98% | -4.38% | -0.08% |
SHYM iShares Short Duration High Yield Muni Active ETF | 1.67% | 2.58% | 6.99% | 9.67% | -15.96% | 6.71% |
Correlation
The correlation between SLQD and SHYM is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2021 | 0.50 |
The correlation between SLQD and SHYM has been stable across timeframes, ranging from 0.50 to 0.52 - a consistent structural relationship.
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Return for Risk
SLQD vs. SHYM — Risk / Return Rank
SLQD
SHYM
SLQD vs. SHYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) and iShares Short Duration High Yield Muni Active ETF (SHYM). 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.
| SLQD | SHYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.33 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 1.99 | +1.51 |
| Martin ratioReturn relative to average drawdown | 15.40 | 7.49 | +7.91 |
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Drawdowns
SLQD vs. SHYM - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, smaller than the maximum SHYM drawdown of -22.55%. Use the drawdown chart below to compare losses from any high point for SLQD and SHYM.
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Drawdown Indicators
| SLQD | SHYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -22.55% | +9.86% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -2.23% | +1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | -8.06% | +7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -7.60% | -22.30% | +14.70% |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -1.23% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -0.86% | -6.57% | +5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.59% | -0.35% |
Volatility
SLQD vs. SHYM - Volatility Comparison
The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.42%, while iShares Short Duration High Yield Muni Active ETF (SHYM) has a volatility of 0.89%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky than SHYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | SHYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 0.89% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 1.96% | -0.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.54% | 2.80% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.45% | 7.06% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 6.85% | -3.72% |
SLQD vs. SHYM - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than SHYM's 0.35% expense ratio.
Dividends
SLQD vs. SHYM - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.34%, which matches SHYM's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 3.99% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 3.99% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
SLQD and SHYM have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYM has higher volatility (0.89%) compared to SLQD (0.42%). In terms of maximum drawdown, SLQD dropped -12.69% vs SHYM's -22.55%.
On 5-year performance, SLQD leads with 2.53% vs 0.39% for SHYM. On fees, SLQD is cheaper at 0.06% per year. On volatility, SLQD has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SLQD has performed better with a 2.53% return vs 0.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.35% for SHYM.
SLQD and SHYM have nearly identical dividend yields, around 3.99%.
SLQD is categorized as Corporate Bonds, while SHYM is High Yield Muni. Their fees differ too: 0.06% for SLQD and 0.35% for SHYM.
SLQD currently has the higher Sharpe Ratio (2.42 vs 1.61), 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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