Which returned more over the last year, SHV or TLT?

In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and TLT −7.9%.

Which is cheaper, SHV or TLT?

Neither: SHV and TLT both charge 0.15% a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

SHV vs TLT: Differences, Returns & Fees

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On Aug 31, 2026 SHV's duration was 0.3 years and TLT's 15.1; 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 $47.4bn for iShares 20+ Year Treasury Bond ETF.

SHV on its own →TLT on its own →

At a glance

+3.6%

SHV total return, 1 year

−7.9%

TLT total return, 1 year

0.15%

SHV expense ratio

0.15%

TLT expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 11.5 points; TLT is 2.2 times larger.

Points (pts) are percentage points.

SHV vs TLT: Differences, Returns & Fees
Measure	SHV	TLT
Return
Measure	SHV	TLT
Total return, 1 year	+3.6%	−7.9%
Drawdown
Measure	SHV	TLT
Below its high		42.6%, high on Aug 4, 2020
Benchmark
Measure	SHV	TLT
What it tracks	ICE Short US Treasury Securities Index	ICE U.S. Treasury 20+ Year Bond Index
Cost and size
Measure	SHV	TLT
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$21.7bn	$47.4bn
Holdings
Measure	SHV	TLT
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 returns

SHV TLT

Return

Total return edge TLT +37.2% +72.4%

Annualized edge TLT +1.6% +2.8%

Price return edge SHV +1.4% −7.6%

Risk

Volatility edge SHV 0.3% 14.2%

Max drawdown edge SHV −0.4% −47.8%

Risk-adjusted

Sharpe edge TLT −0.01 0.15

Sortino edge TLT −0.01 0.22

Calmar edge SHV 4.15 0.06

Reading

TLT returned more: +72.4% to +37.2%. SHV swung less: 0.3% to 14.2%. SHV fell less at its worst: −0.4% to −47.8%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: SHV vs TLT: Differences, Returns & Fees
Measure	SHV	TLT	Edge	How it is measured
Return
Total return	+37.2%	+72.4%	TLT	Price change plus distributions, reinvested.
Annualized	+1.6%	+2.8%	TLT	Total return as a yearly rate.
Price return	+1.4%	−7.6%	SHV	Price change alone, distributions left out.
Risk
Volatility	0.3%	14.2%	SHV	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.2%	9.9%	SHV	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.4%	−47.8%	SHV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.01	0.15	TLT	Return above Treasury bills per unit of volatility.
Sortino	−0.01	0.22	TLT	Return above Treasury bills per unit of downside deviation.
Calmar	4.15	0.06	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 TLT hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first SHV TLT

Only in one fund ↓

Only in SHV

U.S. Treasury Bills, due Jan 14, 2027 4.95%

U.S. Treasury Bills, due Oct 29, 2026 4.53%

U.S. Treasury Bills, due Oct 13, 2026 3.86%

U.S. Treasury Bills, due Dec 15, 2026 3.60%

U.S. Treasury Bills, due Oct 27, 2026 3.56%

U.S. Treasury Bills, due Dec 22, 2026 3.55%

U.S. Treasury Bills, due Oct 1, 2026 3.37%

U.S. Treasury Bills, due Nov 12, 2026 3.33%

Only in TLT

U.S. Treasury Bonds, due May 15, 2055 4.46%

U.S. Treasury Bonds, due May 15, 2054 4.40%

U.S. Treasury Bonds, due Aug 15, 2053 4.18%

U.S. Treasury Bonds, due Feb 15, 2054 4.03%

U.S. Treasury Bonds, due Feb 15, 2056 3.94%

U.S. Treasury Bonds, due Aug 15, 2054 3.94%

U.S. Treasury Bonds, due Nov 15, 2053 3.92%

U.S. Treasury Bonds, due Feb 15, 2055 3.80%

Check overlap with more funds →

Side by side

SHV iShares 0-1 Year Treasury Bond ETF TLT iShares 20+ Year Treasury Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares iShares

What it is Tracks an index of 0-1 Year Treasury Bond Tracks an index of 20+ year Treasuries

Total return, 1 year +3.6% −7.9%

Its benchmark over the same days not measured −7.8% (BBLB)

Gap to its benchmark not measured −0.1 pts vs BBLB

Expense ratio 0.15% 0.15%

Holdings 66 47

Net assets, as of Oct 27, 2026 $21.7bn $47.4bn

SHV and TLT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-5903CD6DCF

SHV and TLT do different jobs. What does each one do in a portfolio?

What each follows. SHV follows ICE Short US Treasury Securities Index and TLT follows ICE U.S. Treasury 20+ 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 TLT −7.9% with distributions reinvested, a gap of 11.5 points.

Data as of Oct 28, 2026.

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About each fund

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.

TLT

TLT tracks an index of 20+ year Treasuries. Over the year to Oct 28, 2026 it returned −7.9% with distributions reinvested, against −7.8% for its benchmark, the ICE U.S. Treasury 20+ Year Bond Index. It sat 42.6% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, SHV or TLT?: In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and TLT −7.9%.
Which is cheaper, SHV or TLT?: Neither: SHV and TLT both charge 0.15% a year. Fees come from each fund's prospectus.

Other comparisons

EDV vs SHV SHV vs VGLT BIL vs SHV IUSB vs SHV TLT vs USFR BOXX vs TLT TLT vs VBIL TLT vs VUSB

Where to next

SHV on its own →TLT on its own →Hold both: look the portfolio through →Rankings →SHV dividend history →SHV holdings →TLT dividend history →TLT holdings →Standards and sources →

Sources and dates

SHV and TLT filings on SEC EDGAR ↗

SHV and TLT prospectus with the expense ratio (SEC) ↗

iShares page for SHV ↗

iShares page for TLT ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, SHV against TLT, data as of Oct 28, 2026. https://etfiq.com/compare/any/shv-vs-tlt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.