SLXX.L vs. SHY
SLXX.L (iShares Core £ Corp Bond UCITS ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - SLXX.L is a Corporate Bonds fund tracking the Markit iBoxx GBP Liquid Corporates Large Cap Index, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, SLXX.L returned 1.80%/yr vs 2.42%/yr for SHY. At a 0.10 correlation, their price movements are largely independent. SLXX.L charges 0.20%/yr vs 0.15%/yr for SHY.
Performance
SLXX.L vs. SHY - Performance Comparison
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Different Trading Currencies
SLXX.L is traded in GBP, while SHY is traded in USD. To make them comparable, the SHY values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SLXX.L achieves a -0.09% return, which is significantly lower than SHY's 0.91% return. Over the past 10 years, SLXX.L has underperformed SHY with an annualized return of 1.80%, while SHY has yielded a comparatively higher 2.42% annualized return.
SLXX.L
- 1D
- 0.21%
- 1M
- 2.07%
- YTD
- -0.09%
- 6M
- 0.15%
- 1Y
- 4.74%
- 3Y*
- 5.83%
- 5Y*
- -0.77%
- 10Y*
- 1.80%
SHY
- 1D
- 0.07%
- 1M
- 1.02%
- YTD
- 0.91%
- 6M
- 0.14%
- 1Y
- 4.20%
- 3Y*
- 1.43%
- 5Y*
- 2.83%
- 10Y*
- 2.42%
SLXX.L vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLXX.L iShares Core £ Corp Bond UCITS ETF | -0.09% | 6.50% | 1.60% | 8.54% | -18.36% | -4.01% | 9.03% | 11.30% | -2.77% | 4.24% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.91% | -2.53% | 5.73% | -1.04% | 7.55% | 0.23% | 0.01% | -0.55% | 7.48% | -8.41% |
Correlation
The correlation between SLXX.L and SHY is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2007 | 0.10 |
The correlation between SLXX.L and SHY shifts across timeframes, from -0.20 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SLXX.L vs. SHY — Risk / Return Rank
SLXX.L
SHY
SLXX.L vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core £ Corp Bond UCITS ETF (SLXX.L) and iShares 1-3 Year Treasury Bond ETF (SHY). 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.
| SLXX.L | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.12 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.81 | +0.31 |
| Martin ratioReturn relative to average drawdown | 3.47 | 2.19 | +1.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLXX.L | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 0.68 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.35 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.26 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.42 | +0.02 |
Drawdowns
SLXX.L vs. SHY - Drawdown Comparison
The maximum SLXX.L drawdown since its inception was -30.27%, which is greater than SHY's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for SLXX.L and SHY.
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Drawdown Indicators
| SLXX.L | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -18.95% | -11.32% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -5.24% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -9.28% | +5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.34% | -16.58% | -12.76% |
Max Drawdown (10Y)Largest decline over 10 years | -30.27% | -18.62% | -11.65% |
Current DrawdownCurrent decline from peak | -8.12% | -8.28% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -8.31% | +2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.92% | -0.55% |
Volatility
SLXX.L vs. SHY - Volatility Comparison
iShares Core £ Corp Bond UCITS ETF (SLXX.L) has a higher volatility of 2.11% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 1.53%. This indicates that SLXX.L's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLXX.L | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 1.53% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.81% | 4.77% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.59% | 6.23% | -0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.06% | 8.11% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 9.30% | -1.22% |
SLXX.L vs. SHY - Expense Ratio Comparison
SLXX.L has a 0.20% expense ratio, which is higher than SHY's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SLXX.L vs. SHY - Dividend Comparison
SLXX.L's dividend yield for the trailing twelve months is around 4.93%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
SLXX.L iShares Core £ Corp Bond UCITS ETF | 4.93% | 4.82% | 4.68% | 4.06% | 2.75% | 2.06% | 2.12% | 2.44% | 2.71% | 2.73% | 2.99% | 3.39% |
Frequently Asked Questions
SLXX.L and SHY have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHY is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHY is cheaper with a 0.15% expense ratio, compared with 0.20% for SLXX.L.
SLXX.L is categorized as Corporate Bonds, while SHY is Government Bonds. SLXX.L tracks Markit iBoxx GBP Liquid Corporates Large Cap Index, while SHY tracks ICE US Treasury 1-3 Year Index. Their fees differ too: 0.20% for SLXX.L and 0.15% for SHY.
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