Will this ETF continue its string of recent losses? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.
Inside SHY’s Decline
As mentioned earlier, SHY has now lost 0.83% from its 52-week low, which was hit back on November 30, 2017. The fund has now returned -0.17% over the past month, -0.57% over the past three months, and -0.15% in the past six months. Those returns compare to the benchmark S&P 500 index’s 2.54%, 8.24%, and 9.84% returns in the same periods, respectively.
Being a short-term bond fund, SHY doesn’t typically move very much, but hitting new lows today is an indicator that the bond markets are searching for direction.
A Look Under The Hood
The iShares 1-3 Year Treasury Bond ETF is a Fixed Income-focused product issued by BlackRock. Its expense ratio of 0.15% makes it the #9 cheapest ETF among 27 total funds in the Government Bonds ETFs category.
SHY currently boasts $11.35B in assets under management (AUM), placing it #1 of 27 ETFs in its category, and #63 of 1960 total ETFs in the U.S. exchange traded universe.
The investment objective of the iShares Barclays 1-3 Year Treasury Bond Fund ETF seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities between one and three years — in other words, ultra short-term Treasuries.
SHY SMART Grade: Bounce Ahead?
A SMART Grade of B suggests decent future price growth potential, so it’s reasonable to expect a certain amount of bounce-back for this fund in the near future.
For more information about this ETF, including full ratings, news, data, and more, please visit SHY’s ticker page.
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