Overview
Treasuries with under 12 months to maturity — a cash-equivalent fund one small step longer than the 0-3 month bill funds.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| 912797* | US Treasury Bills, 1-3 month ladder | 98.9% |
| CASH | Cash & equivalents | 1.1% |
Fund Details
Investment Thesis
SHV extends the bill-fund idea to everything inside a year, capturing slightly more yield when the curve is upward-sloping at the front. Price risk remains negligible — its worst modern drawdown is measured in tenths of a percent. In practice it competes directly with BIL and SGOV; the choice between the three is a rounding decision, and SGOV usually wins on fee.
Who It's For
Cash parking, with a marginal preference over bill funds whenever sub-1-year yields exceed 3-month yields. Same uses, same safety.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $103.18 | -- |
| 2017 | $103.38 | +0.2% |
| 2018 | $103.80 | +0.4% |
| 2019 | $104.42 | +0.6% |
| 2020 | $104.63 | +0.2% |
| 2021 | $104.73 | +0.1% |
| 2022 | $105.05 | +0.3% |
| 2023 | $105.99 | +0.9% |
| 2024 | $106.95 | +0.9% |
| 2025 | $107.69 | +0.7% |
| Year | Yield |
|---|---|
| 2016 | 0.25% |
| 2017 | 0.25% |
| 2018 | 0.85% |
| 2019 | 1.85% |
| 2020 | 2.15% |
| 2021 | 0.45% |
| 2022 | 0.05% |
| 2023 | 1.55% |
| 2024 | 4.75% |
| 2025 | 3.77% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $7.0B | -- |
| 2017 | $7.9B | +12.9% |
| 2018 | $8.8B | +11.4% |
| 2019 | $9.9B | +12.5% |
| 2020 | $11B | +11.1% |
| 2021 | $13B | +18.2% |
| 2022 | $14B | +7.7% |
| 2023 | $16B | +14.3% |
| 2024 | $18B | +12.5% |
| 2025 | $20B | +11.1% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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