TLTP vs. SHV
TLTP (Amplify Bloomberg U.S. Treasury Target High Income ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both Government Bonds funds - TLTP tracks the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index while SHV tracks the ICE Short US Treasury Securities Index. Both are passively managed. Over the past year, TLTP returned 6.77% vs 3.90% for SHV. At a 0.08 correlation, their price movements are largely independent. TLTP charges 0.38%/yr vs 0.15%/yr for SHV.
Performance
TLTP vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, TLTP achieves a 0.22% return, which is significantly lower than SHV's 1.42% return.
TLTP
- 1D
- -0.27%
- 1M
- 0.71%
- YTD
- 0.22%
- 6M
- -0.63%
- 1Y
- 6.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.42%
- 6M
- 1.75%
- 1Y
- 3.90%
- 3Y*
- 4.64%
- 5Y*
- 3.31%
- 10Y*
- 2.23%
TLTP vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF | 0.22% | 5.39% | -3.95% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 0.82% |
Correlation
The correlation between TLTP and SHV is 0.08, 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 | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2024 | 0.08 |
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Return for Risk
TLTP vs. SHV — Risk / Return Rank
TLTP
SHV
TLTP vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) and iShares 0-1 Year Treasury Bond ETF (SHV). 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.
| TLTP | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.60 | ||
| Sortino ratioReturn per unit of downside risk | -148.24 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 53.77 | -52.61 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 431.38 | -430.20 |
| Martin ratioReturn relative to average drawdown | 3.19 | 2,419.80 | -2,416.61 |
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
| TLTP | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 19.49 | -18.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 11.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 8.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 4.50 | -4.40 |
Drawdowns
TLTP vs. SHV - Drawdown Comparison
The maximum TLTP drawdown since its inception was -8.54%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for TLTP and SHV.
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Drawdown Indicators
| TLTP | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -0.45% | -8.09% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -0.01% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -3.18% | 0.00% | -3.18% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -0.03% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.00% | +2.12% |
Volatility
TLTP vs. SHV - Volatility Comparison
Amplify Bloomberg U.S. Treasury Target High Income ETF (TLTP) has a higher volatility of 2.40% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that TLTP's price experiences larger fluctuations and is considered to be riskier than SHV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLTP | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 0.05% | +2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 5.10% | 0.12% | +4.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.62% | 0.20% | +7.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.84% | 0.29% | +9.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.84% | 0.28% | +9.56% |
TLTP vs. SHV - Expense Ratio Comparison
TLTP has a 0.38% expense ratio, which is higher than SHV's 0.15% expense ratio.
Dividends
TLTP vs. SHV - Dividend Comparison
TLTP's dividend yield for the trailing twelve months is around 13.16%, more than SHV's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHV iShares 0-1 Year Treasury Bond ETF | 3.83% | 4.09% | 5.02% | 4.73% | 1.39% | 0.00% | 0.74% | 2.19% | 1.66% | 0.72% | 0.34% | 0.03% |
TLTP Amplify Bloomberg U.S. Treasury Target High Income ETF | 13.16% | 12.53% | 2.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TLTP and SHV have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLTP has higher volatility (2.40%) compared to SHV (0.05%). In terms of maximum drawdown, TLTP dropped -8.54% vs SHV's -0.45%.
On 1-year performance, TLTP leads with 6.77% vs 3.90% for SHV. On fees, SHV is cheaper at 0.15% per year. On volatility, SHV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TLTP has performed better with a 6.77% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHV is cheaper with a 0.15% expense ratio, compared with 0.38% for TLTP.
TLTP has the higher dividend yield at 13.16%, compared with 3.83% for SHV.
TLTP tracks Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.38% for TLTP and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 0.89), 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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