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ETF comparison

SHY vs TLT

US Treasury (Short) vs US Treasury (Long).

iShares 1-3 Year Treasury Bond ETF · iShares 20+ Year Treasury Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
0.3 %

1 positions appear in both funds. Buying equal dollars of SHY and TLT would leave roughly 0.3% of each dollar exposed to the same underlying securities.

SHY only 99.0% Shared 0.3% TLT only 99.1%
In SHY only
89 positions
Shared
1 positions
In TLT only
45 positions

Side by side

SHY

iShares 1-3 Year Treasury Bond ETF

iShares · US Treasury (Short)

84 composite / 100
Expense ratio
0.15%
Net assets
$25.36B
TTM yield
3.65%
Top-10 conc.
17.0%
TLT

iShares 20+ Year Treasury Bond ETF

iShares · US Treasury (Long)

78 composite / 100
Expense ratio
0.15%
Net assets
$41.10B
TTM yield
4.63%
Top-10 conc.
43.5%

Sub-score comparison

85
Cost
85
58
Tax efficiency
56
100
Liquidity
100
90
Concentration
52
—
Tracking quality
—
SHY sub-score TLT

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

Expense ratios are effectively identical (0.15% vs 0.15%).

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with SHY vs TLT.

Top shared holdings

1 shared in total
# Holding In SHY In TLT Overlap
1 BlackRock Funds III 0.27% 1.15% 0.27%

Only in SHY

89 total
  • United States of America 2.20%
  • United States of America 1.95%
  • United States of America 1.83%
  • United States of America 1.71%
  • United States of America 1.62%
  • United States of America 1.59%
  • United States of America 1.59%
  • United States of America 1.55%
  • United States of America 1.53%
  • United States of America 1.47%

Only in TLT

45 total
  • United States of America 4.84%
  • United States of America 4.75%
  • United States of America 4.58%
  • United States of America 4.50%
  • United States of America 4.46%
  • United States of America 4.40%
  • United States of America 4.25%
  • United States of America 4.03%
  • United States of America 3.86%
  • United States of America 3.80%

Open SHY or TLT at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.