USIG vs. SHV
USIG (iShares Broad USD Investment Grade Corporate Bond ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - USIG is a Corporate Bonds fund tracking the ICE BofA US Corporate, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 10 years, USIG returned 2.63%/yr vs 2.23%/yr for SHV. At a 0.15 correlation, their price movements are largely independent. USIG charges 0.04%/yr vs 0.15%/yr for SHV.
Performance
USIG vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, USIG achieves a 0.56% return, which is significantly lower than SHV's 1.42% return. Over the past 10 years, USIG has outperformed SHV with an annualized return of 2.63%, while SHV has yielded a comparatively lower 2.23% annualized return.
USIG
- 1D
- -0.23%
- 1M
- 0.56%
- YTD
- 0.56%
- 6M
- 0.37%
- 1Y
- 6.04%
- 3Y*
- 5.46%
- 5Y*
- 0.72%
- 10Y*
- 2.63%
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%
USIG vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.56% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.42% | 4.21% | 5.12% | 5.04% | 0.94% | -0.10% | 0.81% | 2.36% | 1.72% | 0.67% |
Correlation
The correlation between USIG and SHV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2007 | 0.15 |
The correlation between USIG and SHV shifts across timeframes, from 0.13 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
USIG vs. SHV — Risk / Return Rank
USIG
SHV
USIG vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Broad USD Investment Grade Corporate Bond ETF (USIG) 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.
| USIG | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.02 | ||
| Sortino ratioReturn per unit of downside risk | -147.38 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 53.77 | -52.51 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 431.38 | -429.21 |
| Martin ratioReturn relative to average drawdown | 7.07 | 2,419.80 | -2,412.73 |
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
| USIG | SHV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 19.49 | -18.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 11.56 | -11.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 8.09 | -7.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 4.50 | -3.96 |
Drawdowns
USIG vs. SHV - Drawdown Comparison
The maximum USIG drawdown since its inception was -22.21%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for USIG and SHV.
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Drawdown Indicators
| USIG | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -0.45% | -21.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -0.01% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -0.03% | -6.07% |
Max Drawdown (5Y)Largest decline over 5 years | -21.45% | -0.40% | -21.05% |
Max Drawdown (10Y)Largest decline over 10 years | -21.45% | -0.45% | -21.00% |
Current DrawdownCurrent decline from peak | -0.97% | 0.00% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -0.03% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.00% | +0.86% |
Volatility
USIG vs. SHV - Volatility Comparison
iShares Broad USD Investment Grade Corporate Bond ETF (USIG) has a higher volatility of 1.27% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.05%. This indicates that USIG'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
| USIG | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 0.05% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 3.04% | 0.12% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.13% | 0.20% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.82% | 0.29% | +6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.82% | 0.28% | +6.54% |
USIG vs. SHV - Expense Ratio Comparison
USIG has a 0.04% expense ratio, which is lower than SHV's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USIG vs. SHV - Dividend Comparison
USIG's dividend yield for the trailing twelve months is around 4.74%, 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% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.74% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
Frequently Asked Questions
USIG and SHV have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USIG has higher volatility (1.27%) compared to SHV (0.05%). In terms of maximum drawdown, USIG dropped -22.21% vs SHV's -0.45%.
On 10-year performance, USIG leads with 2.63% vs 2.23% for SHV. On fees, USIG is cheaper at 0.04% 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 10-year period, USIG has performed better with a 2.63% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.15% for SHV.
USIG has the higher dividend yield at 4.74%, compared with 3.83% for SHV.
USIG is categorized as Corporate Bonds, while SHV is Government Bonds. USIG tracks ICE BofA US Corporate, while SHV tracks ICE Short US Treasury Securities Index. Their fees differ too: 0.04% for USIG and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (19.49 vs 1.47), 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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