BTRN vs. CSHP

Last updated Jun 4, 2026

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 -18.31% vs 3.96% for CSHP. At a 0.06 correlation, their price movements are largely independent. BTRN charges 0.95%/yr vs 0.20%/yr for CSHP.

Performance

BTRN vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Bitcoin Trend Strategy ETF (BTRN) 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, BTRN achieves a -9.29% return, which is significantly lower than CSHP's 1.63% return.

BTRN

• 1D: -1.35%
• 1M: -12.31%
• YTD: -9.29%
• 6M: -9.90%
• 1Y: -18.31%
• 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)

BTRN vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	-9.29%	4.89%	25.85%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	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 19, 2024	0.06

The correlation between BTRN and CSHP shifts across timeframes, from -0.09 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

BTRN vs. CSHP - Sectors Allocation Comparison

Sectors	BTRN	CSHP
Financial Services	68.6%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BTRN vs. CSHP — Risk / Return Rank

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

BTRN

BTRN Risk / Return Rank: 2
BTRN Sharpe Ratio Rank: 2
BTRN Sortino Ratio Rank: 2
BTRN Omega Ratio Rank: 2
BTRN Calmar Ratio Rank: 3
BTRN Martin Ratio Rank: 3

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.

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.

	BTRN	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	11.91	-12.83
Sortino ratio: Return per unit of downside risk	-1.23	31.26	-32.49
Omega ratio: Gain probability vs. loss probability	0.84	7.44	-6.60
Calmar ratio: Return relative to maximum drawdown	-0.73	65.71	-66.43
Martin ratio: Return relative to average drawdown	-1.25	432.16	-433.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTRN vs. CSHP - Sharpe Ratio Comparison

The current BTRN Sharpe Ratio is -0.93, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of BTRN 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

	BTRN	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.93	11.91	-12.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	10.75	-10.75

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.

Drawdown Indicators

	BTRN	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-36.97%	-0.08%	-36.89%
Max Drawdown (1Y) Largest decline over 1 year	-25.29%	-0.06%	-25.23%
Current Drawdown Current decline from peak	-25.29%	0.00%	-25.29%
Average Drawdown Average peak-to-trough decline	-14.41%	-0.00%	-14.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.68%	0.01%	+14.67%

Volatility

BTRN vs. CSHP - Volatility Comparison

Global X Bitcoin Trend Strategy ETF (BTRN) has a higher volatility of 7.24% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. 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.

Volatility by Period

	BTRN	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.24%	0.07%	+7.17%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	0.24%	+10.11%
Volatility (1Y) Calculated over the trailing 1-year period	19.91%	0.33%	+19.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.96%	0.40%	+30.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.96%	0.40%	+30.56%

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 30.60%, more than CSHP's 3.92% yield.

Position	TTM	2025	2024
BTRN Global X Bitcoin Trend Strategy ETF	30.60%	27.76%	2.56%
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%

Frequently Asked Questions

Can I hold both BTRN and CSHP in my portfolio?

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.

Which is riskier, BTRN or CSHP?

BTRN has higher volatility (7.24%) compared to CSHP (0.07%). In terms of maximum drawdown, BTRN dropped -36.97% vs CSHP's -0.08%.

Which ETF is better, BTRN or CSHP?

On 1-year performance, CSHP leads with 3.96% vs -18.31% for BTRN. 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, BTRN or CSHP?

Over the 1-year period, CSHP has performed better with a 3.96% return vs -18.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BTRN or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.95% for BTRN.

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

BTRN has the higher dividend yield at 30.60%, compared with 3.92% for CSHP.

What is the main difference between BTRN and 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.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs -0.93), 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.