BTRN vs. CSHP
BTRN (Global X Bitcoin Trend Strategy ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - BTRN is a Cryptocurrency fund tracking the CoinDesk Bitcoin Trend Indicator Futures Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. BTRN is passively managed, while CSHP is actively managed. Over the past year, BTRN returned -17.76% vs 3.89% for CSHP. At a 0.05 correlation, their price movements are largely independent. BTRN charges 0.95%/yr vs 0.20%/yr for CSHP.
Performance
BTRN vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, BTRN achieves a -10.70% return, which is significantly lower than CSHP's 1.79% return.
BTRN
- 1D
- -1.00%
- 1M
- -8.78%
- YTD
- -10.70%
- 6M
- -10.71%
- 1Y
- -17.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.04%
- 1M
- 0.23%
- YTD
- 1.79%
- 6M
- 1.85%
- 1Y
- 3.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BTRN vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | -10.70% | 4.89% | 25.36% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.79% | 4.10% | 2.24% |
Correlation
The correlation between BTRN and CSHP is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.05 |
The correlation between BTRN and CSHP shifts across timeframes, from -0.09 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BTRN vs. CSHP — Risk / Return Rank
BTRN
CSHP
BTRN vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Bitcoin Trend Strategy ETF (BTRN) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTRN | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.77 | ||
| Sortino ratioReturn per unit of downside risk | -27.44 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 6.09 | -5.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 48.60 | -49.27 |
| Martin ratioReturn relative to average drawdown | -1.12 | 338.28 | -339.40 |
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Drawdowns
BTRN vs. CSHP - Drawdown Comparison
The maximum BTRN drawdown since its inception was -36.97%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for BTRN and CSHP.
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Drawdown Indicators
| BTRN | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.97% | -0.08% | -36.89% |
Max Drawdown (1Y)Largest decline over 1 year | -26.45% | -0.08% | -26.37% |
Current DrawdownCurrent decline from peak | -26.45% | -0.08% | -26.37% |
Average DrawdownAverage peak-to-trough decline | -14.66% | -0.00% | -14.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.82% | 0.01% | +15.81% |
Volatility
BTRN vs. CSHP - Volatility Comparison
Global X Bitcoin Trend Strategy ETF (BTRN) has a higher volatility of 3.71% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that BTRN'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.
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Volatility by Period
| BTRN | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.71% | 0.16% | +3.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 0.27% | +9.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 0.36% | +18.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.59% | 0.41% | +30.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.59% | 0.41% | +30.18% |
BTRN vs. CSHP - Expense Ratio Comparison
BTRN has a 0.95% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
BTRN vs. CSHP - Dividend Comparison
BTRN's dividend yield for the trailing twelve months is around 31.08%, more than CSHP's 3.92% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BTRN Global X Bitcoin Trend Strategy ETF | 31.08% | 27.76% | 2.56% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.92% | 5.39% | 1.96% |
Frequently Asked Questions
BTRN and CSHP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTRN has higher volatility (3.71%) compared to CSHP (0.16%). In terms of maximum drawdown, BTRN dropped -36.97% vs CSHP's -0.08%.
On 1-year performance, CSHP leads with 3.89% vs -17.76% for BTRN. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CSHP has performed better with a 3.89% return vs -17.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSHP is cheaper with a 0.20% expense ratio, compared with 0.95% for BTRN.
BTRN has the higher dividend yield at 31.08%, compared with 3.92% for CSHP.
BTRN is categorized as Cryptocurrency, while CSHP is Ultrashort Bond. They also come from different issuers: Global X and iShares. Their fees differ too: 0.95% for BTRN and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (10.81 vs -0.96), 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.
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