Data as of Oct 28, 2026.
SHV vs SHY: Differences, Returns & Fees
On Aug 31, 2026 SHV's duration was 0.3 years and SHY's 1.8; both charge 0.15%.
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Net assets on Oct 27, 2026: $21.7bn for iShares 0-1 Year Treasury Bond ETF and $27.4bn for iShares 1-3 Year Treasury Bond ETF.
Pair scorecard
Both cost 0.15% a year; their one-year returns differ by 2.0 points; SHY is 1.3 times larger.
Points (pts) are percentage points.
| Measure | SHV | SHY |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.6% | +1.6% |
| Benchmark | ||
| What it tracks | ICE Short US Treasury Securities Index | ICE U.S. Treasury 1-3 Year Bond Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.15% |
| Net assets, as of Oct 27, 2026 | $21.7bn | $27.4bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Aug 31, 2026. Method
Risk and return
Jan 19, 2007 to Oct 23, 2026 · 1,031 weekly returnsSHY returned more: +44.5% to +37.2%. SHV swung less: 0.3% to 1.4%. SHV fell less at its worst: −0.4% to −5.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SHV | SHY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +37.2% | +44.5% | SHY | Price change plus distributions, reinvested. |
| Annualized | +1.6% | +1.9% | SHY | Total return as a yearly rate. |
| Price return | +1.4% | +1.9% | SHY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.3% | 1.4% | SHV | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.2% | 0.9% | SHV | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −0.4% | −5.6% | SHV | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.01 | 0.20 | SHY | Return above Treasury bills per unit of volatility. |
| Sortino | −0.01 | 0.30 | SHY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 4.15 | 0.34 | SHV | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,031 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SHV and SHY hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
SHV and SHY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SHV and SHY do different jobs. What does each one do in a portfolio?
- What each follows. SHV follows ICE Short US Treasury Securities Index and SHY follows ICE U.S. Treasury 1-3 Year Bond Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SHV returned +3.6% and SHY +1.6% with distributions reinvested, a gap of 2.0 points.
Data as of Oct 28, 2026.
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SHV
SHV tracks an index of 0-1 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +3.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year.
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.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SHV against SHY, data as of Oct 28, 2026. https://etfiq.com/compare/any/shv-vs-shy
ETFIQ. (Oct 28, 2026). SHV against SHY. Retrieved from https://etfiq.com/compare/any/shv-vs-shy
[SHV against SHY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/shv-vs-shy)
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