VUSI vs. SHV

Last updated Jun 4, 2026

VUSI (Voya Ultra Short Income ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both exchange-traded funds - VUSI is a Ultrashort Bond fund actively managed by Voya, while SHV is a Government Bonds fund tracking the ICE Short US Treasury Securities Index. VUSI is actively managed, while SHV is passively managed. At a 0.45 correlation, their price movements are largely independent. VUSI charges 0.25%/yr vs 0.15%/yr for SHV.

Performance

VUSI vs. SHV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Ultra Short Income ETF (VUSI) and iShares 0-1 Year Treasury Bond ETF (SHV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VUSI achieves a -0.28% return, which is significantly lower than SHV's 1.42% return.

VUSI

• 1D: -0.04%
• 1M: -0.34%
• YTD: -0.28%
• 6M: 0.14%
• 1Y: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VUSI vs. SHV - Yearly Performance Comparison

	2026 (YTD)	2025
VUSI Voya Ultra Short Income ETF	-0.28%	0.68%
SHV iShares 0-1 Year Treasury Bond ETF	1.42%	0.48%

Correlation

The correlation between VUSI and SHV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.45

Return for Risk

VUSI vs. SHV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHV

SHV Risk / Return Rank: 100
SHV Sharpe Ratio Rank: 100
SHV Sortino Ratio Rank: 100
SHV Omega Ratio Rank: 100
SHV Calmar Ratio Rank: 100
SHV Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VUSI vs. SHV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Ultra Short Income ETF (VUSI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VUSI	SHV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	19.49	—
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	0.54	4.50	-3.96

Drawdowns

VUSI vs. SHV - Drawdown Comparison

The maximum VUSI drawdown since its inception was -0.86%, which is greater than SHV's maximum drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for VUSI and SHV.

Drawdown Indicators

	VUSI	SHV	Difference
Max Drawdown Largest peak-to-trough decline	-0.86%	-0.45%	-0.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.01%	—
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 Drawdown Current decline from peak	-0.69%	0.00%	-0.69%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.03%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	VUSI	SHV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.12%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.40%	0.20%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.40%	0.29%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.40%	0.28%	+1.12%

VUSI vs. SHV - Expense Ratio Comparison

VUSI has a 0.25% expense ratio, which is higher than SHV'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

VUSI vs. SHV - Dividend Comparison

VUSI's dividend yield for the trailing twelve months is around 0.50%, less 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%
VUSI Voya Ultra Short Income ETF	0.50%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VUSI and SHV in my portfolio?

VUSI and SHV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VUSI or SHV?

On fees, SHV is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VUSI or SHV?

SHV is cheaper with a 0.15% expense ratio, compared with 0.25% for VUSI.

Which ETF pays a higher dividend yield, VUSI or SHV?

SHV has the higher dividend yield at 3.83%, compared with 0.50% for VUSI.

What is the main difference between VUSI and SHV?

VUSI is categorized as Ultrashort Bond, while SHV is Government Bonds. They also come from different issuers: Voya and iShares. Their fees differ too: 0.25% for VUSI and 0.15% for SHV.