XONE vs. SHV
XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and SHV (iShares 0-1 Year Treasury Bond ETF) are both Government Bonds funds - XONE tracks the Bloomberg US Treasury 1 Year Target Duration Index while SHV tracks the ICE Short US Treasury Securities Index. Both are passively managed. Over the past 3 years, XONE returned 4.51%/yr vs 4.60%/yr for SHV. A 0.51 correlation means they provide meaningful diversification when combined. XONE charges 0.03%/yr vs 0.15%/yr for SHV.
Performance
XONE vs. SHV - Performance Comparison
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Returns By Period
In the year-to-date period, XONE achieves a 1.16% return, which is significantly lower than SHV's 1.58% return.
XONE
- 1D
- -0.03%
- 1M
- 0.13%
- YTD
- 1.16%
- 6M
- 1.27%
- 1Y
- 3.62%
- 3Y*
- 4.51%
- 5Y*
- —
- 10Y*
- —
SHV
- 1D
- -0.01%
- 1M
- 0.25%
- YTD
- 1.58%
- 6M
- 1.68%
- 1Y
- 3.83%
- 3Y*
- 4.60%
- 5Y*
- 3.35%
- 10Y*
- 2.23%
XONE vs. SHV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.16% | 4.41% | 4.83% | 4.74% | 0.57% |
SHV iShares 0-1 Year Treasury Bond ETF | 1.58% | 4.21% | 5.12% | 5.04% | 0.96% |
Correlation
The correlation between XONE and SHV is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.51 |
The correlation between XONE and SHV has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
XONE vs. SHV — Risk / Return Rank
XONE
SHV
XONE vs. SHV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.
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.
| XONE | SHV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.04 | ||
| Sortino ratioReturn per unit of downside risk | -84.15 | ||
| Omega ratioGain probability vs. loss probability | 3.21 | 35.59 | -32.38 |
| Calmar ratioReturn relative to maximum drawdown | 22.71 | 141.48 | -118.77 |
| Martin ratioReturn relative to average drawdown | 121.24 | 1,585.41 | -1,464.17 |
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Drawdowns
XONE vs. SHV - Drawdown Comparison
The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum SHV drawdown of -0.45%. Use the drawdown chart below to compare losses from any high point for XONE and SHV.
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Drawdown Indicators
| XONE | SHV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.40% | -0.45% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -0.03% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -0.28% | -0.03% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.39% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.45% | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.01% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -0.05% | -0.03% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 0.00% | +0.03% |
Volatility
XONE vs. SHV - Volatility Comparison
BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) has a higher volatility of 0.18% compared to iShares 0-1 Year Treasury Bond ETF (SHV) at 0.07%. This indicates that XONE'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
| XONE | SHV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.18% | 0.07% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 0.37% | 0.13% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.56% | 0.21% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.86% | 0.29% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 0.28% | +0.58% |
XONE vs. SHV - Expense Ratio Comparison
XONE has a 0.03% 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
XONE vs. SHV - Dividend Comparison
XONE's dividend yield for the trailing twelve months is around 4.06%, 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% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XONE and SHV have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XONE has higher volatility (0.18%) compared to SHV (0.07%). In terms of maximum drawdown, XONE dropped -0.40% vs SHV's -0.45%.
On 3-year performance, SHV leads with 4.60% vs 4.51% for XONE. On fees, XONE is cheaper at 0.03% per year. On volatility, SHV has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHV has performed better with a 4.60% return vs 4.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE is cheaper with a 0.03% expense ratio, compared with 0.15% for SHV.
XONE has the higher dividend yield at 4.06%, compared with 3.83% for SHV.
XONE tracks Bloomberg US Treasury 1 Year Target Duration Index, while SHV tracks ICE Short US Treasury Securities Index. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.03% for XONE and 0.15% for SHV.
SHV currently has the higher Sharpe Ratio (18.56 vs 6.52), 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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