iShares 1-3 Year Treasury Bond ETF SHY The underlying IDC US Treasury 1-3 Year Index (4PM) assesses U.S. Treasury issued debt. iShares 13 Year Treasury Bond ETF (SHY): ETF Research Reports Volatility may become the name of the game thanks to a host of factors ranging from rising inflation in the United States and other parts of the developed world, fears of a slowdown in China and the resultant pressure on supply chain and global growth, and geopolitical issues.