SHY — iShares 1-3 Year Treasury Bond ETF

SHY Price Performance — Growth of $10,000

Value of a $10,000 investment in SHY over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SHY Drawdown

The "underwater" chart: SHY's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares 1-3 Year Treasury Bond ETF (SHY) is a government bond fund, issued by iShares, and falls into the US Bonds - Government category, where it ranks #318 out of 458 tracked ETFs. With an expense ratio of 0.15%, SHY is relatively cost-effective, and its dividend yield of 0.38% provides a modest income stream for investors. The fund's assets under management (AUM) stand at $25.1B, indicating a significant level of investor adoption, which is reflected in its position as the third-largest ETF in its category. This suggests that SHY is a popular choice among investors seeking exposure to short-term government bonds.

Over the past year, SHY has delivered a return of 2.74%, which is slightly above the category average. However, its performance has been more pronounced over longer horizons, with a 3-year return of 13.26%. The 1-month return of +0.59% and the 3-month return of +0.72% indicate a steady, albeit modest, upward trend. In contrast, the 1-day return of -0.02% and the 1-week return of 0.00% suggest that the fund can experience short-term volatility, but the overall trend is positive and consistent over longer periods.

SHY is labeled as having a 'Very Low' volatility, which is consistent with its focus on short-term government bonds. The beta of 0.22 further supports this, as it indicates that the fund's price movements are less volatile than the broader market. The Sharpe ratio of -1.73, while negative, reflects the fund's tendency to underperform the risk-free rate, which is typical for bond funds. The maximum drawdown of -0.97% suggests that the fund has experienced a relatively small decline in value, indicating that it has held up well during market downturns. Overall, these figures imply that SHY is a relatively stable investment, suitable for investors seeking a low-risk, income-generating portfolio component, particularly those with a focus on short-term government bonds.

AI-generated summary based on the data on this page.

SHY Top Holdings

Holdings as of 2026-05-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 16.2% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SHY's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SHY

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SHY's top 10 — SHV overlaps most, holding 2 of the same companies as SHY's top 10 (16.2% of SHY's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.69% (as of 2026-08-20) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.01 (as of 2026-08-20) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-07-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

See it in a portfolio

SHY isn't one of the twelve funds in the portfolio game, but BIL — Cash — sits in the same category and is. It is an equivalent, not a substitute: different holdings, different fee, different returns.

Free, no sign-up, virtual money only.

SHY Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.01% and average daily volume is 3.3M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $25.1B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SHY is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SHY Performance History

How SHY Compares to Other US Bonds - Government ETFs