SHV Dividend: Next Ex-Date, History & Total Return

SHV, the iShares 0-1 Year Treasury Bond ETF, seeks to track the investment results of the ICE Short US Treasury Securities Index. The index measures the performance of public obligations of the U.S. Treasury that have a remaining maturity of less than or equal to one year. Under normal circumstances, SHV will seek to maintain a weighted average maturity of less than one year.¹

SHV will invest at least 90% of its assets in U.S. Treasury securities that its adviser, BlackRock Fund Advisors (BFA), believes will help it track the index, and at least 80% in the index's component securities. It will invest no more than 10% in futures, options and swaps contracts that BFA believes will help it track the index.¹

SHV distributes monthly, per its fact sheet. iShares lists SHV under monthly distribution Bond and Equity Funds, and monthly distributing Bond and Equity ETFs intend to go ex-dividend on the first business day of each month, except for January, which is expected to be recognized in mid-December.^2,3

BlackRock reserves an additional distribution date in late December for a potential excise distribution if actual income is materially different from estimates. It also reserves the right to change distribution dates or omit dividends as necessary based on changes in income flow, market changes, market closures, or regulatory changes.³

To enter SHV's index, a publicly issued Treasury security needs a remaining term to final maturity of one year or less as of the rebalance date and $1 billion or more of outstanding face value, excluding amounts held by the Federal Reserve System Open Market Account. It must also have a fixed coupon schedule and be denominated in U.S. dollars. The index is rebalanced on the last calendar day of each month.¹

The index excludes inflation-linked debt and zero-coupon bonds stripped from coupon-paying bonds, such as Separate Trading of Registered Interest and Principal of Securities. Securities issued or marketed primarily to retail investors do not qualify.¹

When the index receives cash from coupon payments or maturing securities, that cash earns a return equal to that of the ICE US 1-Month Treasury Bill Index until the end of the month. SHV treats that cash as cash and cash equivalents, so it may have material positions in them, including money market funds. Prior to October 31, 2025, this cash did not earn any reinvestment income.¹

BFA uses representative sampling, investing in a representative sample of securities or other instruments expected to have, in the aggregate, characteristics such as maturity, credit ratings and liquidity measures similar to those of the index. SHV may or may not hold all of the index's components.¹

In Dividend Stacker's record of past payments, with per-share amounts adjusted for any share splits or reverse splits, SHV paid 12 distributions totaling $2.29 per share in 2008. The annual total then fell in each year through 2014, when the fund made 2 distributions totaling $0.0008 per share. The annual total rose in each year from 2015 through 2019, when 12 distributions came to $2.42 per share.⁴

SHV made 10 distributions totaling $0.8198 per share in 2020 and none in 2021. It resumed with 10 distributions totaling $1.52 in 2022, then paid $5.21 in 2023, up 242.0%, and $5.53 in 2024, up 6.1%. The 2025 total fell 18.6% to $4.50 per share across 12 distributions ranging from $0.3515 to $0.4033.⁴

Changes in the U.S. government's financial condition or credit rating may cause the value of U.S. Treasury obligations to decline. Direct Treasury obligations have historically involved little risk of loss of principal if held to maturity, yet their market value is not guaranteed and may fluctuate. Although they are backed by the full faith and credit of the United States, circumstances could arise that prevent the timely payment of interest or principal.¹

An increase in interest rates generally will cause fixed-income values to decline, and securities with longer maturities generally are more sensitive. During periods of very low or negative interest rates, the prospectus says the fund may be unable to maintain positive returns or pay dividends.¹

SHV's income may decline due to falling interest rates or other factors. The fund may be required to invest in lower-yielding bonds when a bond in its portfolio matures, is near maturity, is called or is prepaid, when bonds in the index are substituted, or when it otherwise needs to purchase additional bonds.¹

The prospectus lists high portfolio turnover, defined by the fund as turnover of greater than 100% annually, among SHV's principal risks. Turnover generally involves transaction costs, including brokerage commissions, and selling securities may result in the realization of taxable capital gains, including short-term capital gains.¹

SHV may be subject to tracking error, the divergence of its performance from that of the index, due to factors including differences between the fund's holdings and the index's components, transaction costs and other expenses the index does not incur, and the fund's holding of uninvested cash. Tracking error risk may be heightened during times of increased market volatility or other unusual market conditions.¹