AVGG vs. CSHP

Last updated Jun 4, 2026

AVGG (Leverage Shares 2X Long AVGO Daily ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - AVGG is a Leveraged Equities fund actively managed by Leverage Shares, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, AVGG returned 161.88% vs 3.96% for CSHP. At a correlation of -0.14, they often move in opposite directions. AVGG charges 0.76%/yr vs 0.20%/yr for CSHP.

Performance

AVGG vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long AVGO Daily ETF (AVGG) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVGG achieves a 71.17% return, which is significantly higher than CSHP's 1.63% return.

AVGG

• 1D: -0.88%
• 1M: 29.67%
• YTD: 71.17%
• 6M: 37.06%
• 1Y: 161.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.63%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVGG vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
AVGG Leverage Shares 2X Long AVGO Daily ETF	71.17%	91.29%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	2.47%

Correlation

The correlation between AVGG and CSHP is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since May 19, 2025	-0.14

Return for Risk

AVGG vs. CSHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVGG

AVGG Risk / Return Rank: 53
AVGG Sharpe Ratio Rank: 57
AVGG Sortino Ratio Rank: 52
AVGG Omega Ratio Rank: 51
AVGG Calmar Ratio Rank: 62
AVGG Martin Ratio Rank: 43

CSHP

CSHP Risk / Return Rank: 100
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 100
CSHP Omega Ratio Rank: 100
CSHP Calmar Ratio Rank: 100
CSHP Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVGG vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long AVGO Daily ETF (AVGG) and iShares Enhanced Short-Term Bond Active ETF (CSHP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AVGG	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.90	11.91	-10.01
Sortino ratio: Return per unit of downside risk	2.49	31.26	-28.77
Omega ratio: Gain probability vs. loss probability	1.31	7.44	-6.13
Calmar ratio: Return relative to maximum drawdown	3.03	65.71	-62.68
Martin ratio: Return relative to average drawdown	6.75	432.16	-425.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVGG vs. CSHP - Sharpe Ratio Comparison

The current AVGG Sharpe Ratio is 1.90, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of AVGG and CSHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVGG	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	11.91	-10.01
Sharpe Ratio (All Time) Calculated using the full available price history	2.52	10.75	-8.24

Drawdowns

AVGG vs. CSHP - Drawdown Comparison

The maximum AVGG drawdown since its inception was -53.77%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for AVGG and CSHP.

Drawdown Indicators

	AVGG	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-53.77%	-0.08%	-53.69%
Max Drawdown (1Y) Largest decline over 1 year	-53.77%	-0.06%	-53.71%
Current Drawdown Current decline from peak	-0.88%	0.00%	-0.88%
Average Drawdown Average peak-to-trough decline	-17.71%	-0.00%	-17.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.09%	0.01%	+24.08%

Volatility

AVGG vs. CSHP - Volatility Comparison

Leverage Shares 2X Long AVGO Daily ETF (AVGG) has a higher volatility of 23.84% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that AVGG's price experiences larger fluctuations and is considered to be riskier than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVGG	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.84%	0.07%	+23.77%
Volatility (6M) Calculated over the trailing 6-month period	61.82%	0.24%	+61.58%
Volatility (1Y) Calculated over the trailing 1-year period	86.10%	0.33%	+85.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.79%	0.40%	+84.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.79%	0.40%	+84.39%

AVGG vs. CSHP - Expense Ratio Comparison

AVGG has a 0.76% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

AVGG vs. CSHP - Dividend Comparison

AVGG's dividend yield for the trailing twelve months is around 1.32%, less than CSHP's 3.92% yield.

Position	TTM	2025	2024
AVGG Leverage Shares 2X Long AVGO Daily ETF	1.32%	2.26%	0.00%
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%

Frequently Asked Questions

Can I hold both AVGG and CSHP in my portfolio?

AVGG and CSHP have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVGG or CSHP?

AVGG has higher volatility (23.84%) compared to CSHP (0.07%). In terms of maximum drawdown, AVGG dropped -53.77% vs CSHP's -0.08%.

Which ETF is better, AVGG or CSHP?

On 1-year performance, AVGG leads with 161.88% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVGG or CSHP?

Over the 1-year period, AVGG has performed better with a 161.88% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVGG or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.76% for AVGG.

Which ETF pays a higher dividend yield, AVGG or CSHP?

CSHP has the higher dividend yield at 3.92%, compared with 1.32% for AVGG.

What is the main difference between AVGG and CSHP?

AVGG is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Leverage Shares and iShares. Their fees differ too: 0.76% for AVGG and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs 1.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.