Data as of Oct 28, 2026.
BND vs SHY: Differences, Returns & Fees
BND's duration was 5.7 years on Jun 30, 2026 and SHY's 1.8 on Aug 31, 2026; BND charges 0.03% to SHY's 0.15%.
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Net assets: $161.4bn on Sep 30, 2026 for Vanguard Total Bond Market ETF, and $27.4bn on Oct 27, 2026 for iShares 1-3 Year Treasury Bond ETF.
Pair scorecard
BND costs 0.12 points a year less; their one-year returns differ by 2.9 points; BND is 6.1 times larger.
| Measure | BND | SHY |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.3% | +1.6% |
| Drawdown | ||
| Below its high | 3.5%, high on Aug 6, 2020 | |
| Benchmark | ||
| What it tracks | Bloomberg U.S. Aggregate Float Adjusted Index | ICE U.S. Treasury 1-3 Year Bond Index |
| Cost and size | ||
| Expense ratio | 0.03% | 0.15% |
| Net assets, as of Sep 30, 2026 | $161.4bn | $26.3bn |
| Holdings | ||
| Holdings in common | 16% | |
Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026. Method
Risk and return
Apr 20, 2007 to Oct 23, 2026 · 1,018 weekly returnsEach against its own benchmark: BND against AGG, Apr 20, 2007 to Oct 23, 2026; SHY against BBSB, Apr 28, 2023 to Oct 23, 2026.
BND returned more: +75.5% to +42.5%. SHY swung less: 1.4% to 5.0%. SHY fell less at its worst: −5.6% to −18.4%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BND | SHY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +75.5% | +42.5% | BND | Price change plus distributions, reinvested. |
| Annualized | +2.9% | +1.8% | BND | Total return as a yearly rate. |
| Price return | −5.4% | +1.5% | SHY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 5.0% | 1.4% | SHY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 3.7% | 0.9% | SHY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −18.4% | −5.6% | SHY | Deepest fall from a high to the low after it. |
| Upside capture | 95.8% | 97.9% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 95.6% | 99.8% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.91 | 0.98 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.98 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.29 | 0.19 | BND | Return above Treasury bills per unit of volatility. |
| Sortino | 0.39 | 0.29 | BND | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.016 | −0.012 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.16 | 0.33 | SHY | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | AGG | BBSB | The ETF each fund is measured against. | |
| Alpha | +0.2% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.59 | −0.96 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.7% | −0.4% to +0.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.03 | −0.43 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.3% | 0.2% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,018 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BND and SHY hold 16% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
16% in common
Only in one fund ↓
Side by side
BND and SHY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BND and SHY do different jobs. What does each one do in a portfolio?
- What each follows. BND follows Bloomberg U.S. Aggregate Float Adjusted Index and SHY follows ICE U.S. Treasury 1-3 Year Bond Index.
- Holdings in common. 16% of the weight is in the same securities (holdings dated Jun 30, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 BND returned −1.3% and SHY +1.6% with distributions reinvested, a gap of 2.9 points.
Data as of Oct 28, 2026.
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BND
BND tracks an index of US aggregate bonds. Over the year to Oct 28, 2026 it returned −1.3% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index, measured by the closely related Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.03% a year. It sat 3.5% below its high of Aug 6, 2020 on Oct 28, 2026.
SHY
SHY tracks an index of 1-3 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +1.6% with distributions reinvested, against +1.7% for its benchmark, the ICE U.S. Treasury 1-3 Year Bond Index. The prospectus expense ratio is 0.15% a year.
Questions people ask
- Which returned more over the last year, BND or SHY?
- In the year to Oct 28, 2026, with distributions reinvested, BND returned −1.3% and SHY +1.6%.
- Which is cheaper, BND or SHY?
- BND is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, BND against SHY, data as of Oct 28, 2026. https://etfiq.com/compare/any/bnd-vs-shy
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