Data as of Oct 28, 2026.
SHY vs VTWO: Differences, Returns & Fees
Over the year to Oct 28, 2026, SHY returned +1.6% to VTWO's +14.3%; 0% of their weight is in the same names.
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Net assets: $27.4bn on Oct 27, 2026 for iShares 1-3 Year Treasury Bond ETF, and $16.6bn on Sep 30, 2026 for Vanguard Russell 2000 ETF.
Pair scorecard
VTWO costs 0.09 points a year less; their one-year returns differ by 12.7 points; SHY is 1.6 times larger.
| Measure | SHY | VTWO |
|---|---|---|
| Return | ||
| Total return, 1 year | +1.6% | +14.3% |
| Drawdown | ||
| Below its high | 7.5%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | ICE U.S. Treasury 1-3 Year Bond Index | Russell 2000 Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.06% |
| Net assets, as of Sep 30, 2026 | $26.3bn | $16.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 5.4% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Oct 1, 2010 to Oct 23, 2026 · 838 weekly returnsEach against its own benchmark: SHY against BBSB, Apr 28, 2023 to Oct 23, 2026; VTWO against IWM, Oct 1, 2010 to Oct 23, 2026.
VTWO returned more: +409.2% to +22.9%. SHY swung less: 1.3% to 21.0%. SHY fell less at its worst: −5.6% to −40.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SHY | VTWO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +22.9% | +409.2% | VTWO | Price change plus distributions, reinvested. |
| Annualized | +1.3% | +10.6% | VTWO | Total return as a yearly rate. |
| Price return | −3.3% | +315.9% | VTWO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 1.3% | 21.0% | SHY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.9% | 14.5% | SHY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.6% | −40.2% | SHY | Deepest fall from a high to the low after it. |
| Upside capture | 97.9% | 98.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 99.8% | 99.5% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.98 | 0.99 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | −0.25 | 0.51 | VTWO | Return above Treasury bills per unit of volatility. |
| Sortino | −0.36 | 0.74 | VTWO | Return above Treasury bills per unit of downside deviation. |
| Treynor | −0.012 | 0.108 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.23 | 0.26 | VTWO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | BBSB | IWM | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | +0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.96 | 0.46 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −0.4% to +0.1% | −0.4% to +0.6% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.43 | 0.02 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.2% | 1.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 838 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SHY and VTWO hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
SHY and VTWO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SHY and VTWO do different jobs. What does each one do in a portfolio?
- What each follows. SHY follows ICE U.S. Treasury 1-3 Year Bond Index and VTWO follows Russell 2000 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SHY returned +1.6% and VTWO +14.3% with distributions reinvested, a gap of 12.7 points.
Data as of Oct 28, 2026.
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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.
VTWO
VTWO tracks the Russell 2000. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested, against +14.1% for its benchmark, the Russell 2000 Index. The prospectus expense ratio is 0.06% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 2,002 positions, with the top ten at 5.4%. It sat 7.5% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SHY or VTWO?
- In the year to Oct 28, 2026, with distributions reinvested, SHY returned +1.6% and VTWO +14.3%.
- Which is cheaper, SHY or VTWO?
- VTWO is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
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, SHY against VTWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/shy-vs-vtwo
ETFIQ. (Oct 28, 2026). SHY against VTWO. Retrieved from https://etfiq.com/compare/any/shy-vs-vtwo
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