CSHP vs. BOXX

Last updated Jun 4, 2026

CSHP (iShares Enhanced Short-Term Bond Active ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both Ultrashort Bond funds. CSHP is actively managed, while BOXX is passively managed. Over the past year, CSHP returned 3.96% vs 4.10% for BOXX. At a 0.23 correlation, their price movements are largely independent. CSHP charges 0.20%/yr vs 0.19%/yr for BOXX.

Performance

CSHP vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Enhanced Short-Term Bond Active ETF (CSHP) and Alpha Architect 1-3 Month Box ETF (BOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CSHP having a 1.63% return and BOXX slightly lower at 1.58%.

CSHP

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

BOXX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.58%
• 6M: 1.97%
• 1Y: 4.10%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

CSHP vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	4.10%	2.24%
BOXX Alpha Architect 1-3 Month Box ETF	1.58%	4.37%	2.29%

Correlation

The correlation between CSHP and BOXX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	0.23

CSHP vs. BOXX - Sectors Allocation Comparison

Sectors	CSHP	BOXX
Financial Services	0.1%	12.3%
Basic Materials	-	1.9%
Communication Services	-	10.7%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	5.4%
Energy	-	3.5%
Healthcare	-	9.8%
Industrials	-	8.7%
Real Estate	-	2.0%
Technology	-	33.1%
Utilities	-	2.5%

Return for Risk

CSHP vs. BOXX — Risk / Return Rank

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

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

BOXX

BOXX Risk / Return Rank: 100
BOXX Sharpe Ratio Rank: 100
BOXX Sortino Ratio Rank: 100
BOXX Omega Ratio Rank: 100
BOXX Calmar Ratio Rank: 100
BOXX 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.

CSHP vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Enhanced Short-Term Bond Active ETF (CSHP) and Alpha Architect 1-3 Month Box ETF (BOXX). 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.

	CSHP	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	11.91	12.84	-0.94
Sortino ratio: Return per unit of downside risk	31.26	38.04	-6.78
Omega ratio: Gain probability vs. loss probability	7.44	9.98	-2.54
Calmar ratio: Return relative to maximum drawdown	65.71	59.77	+5.93
Martin ratio: Return relative to average drawdown	432.16	531.84	-99.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSHP vs. BOXX - Sharpe Ratio Comparison

The current CSHP Sharpe Ratio is 11.91, which is comparable to the BOXX Sharpe Ratio of 12.84. The chart below compares the historical Sharpe Ratios of CSHP and BOXX, 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

	CSHP	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.91	12.84	-0.94
Sharpe Ratio (All Time) Calculated using the full available price history	10.75	12.91	-2.16

Drawdowns

CSHP vs. BOXX - Drawdown Comparison

The maximum CSHP drawdown since its inception was -0.08%, smaller than the maximum BOXX drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for CSHP and BOXX.

Drawdown Indicators

	CSHP	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-0.12%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-0.06%	-0.07%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.01%	0.00%

Volatility

CSHP vs. BOXX - Volatility Comparison

The current volatility for iShares Enhanced Short-Term Bond Active ETF (CSHP) is 0.07%, while Alpha Architect 1-3 Month Box ETF (BOXX) has a volatility of 0.09%. This indicates that CSHP experiences smaller price fluctuations and is considered to be less risky than BOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSHP	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	0.09%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	0.24%	0.25%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	0.32%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.40%	0.37%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.40%	0.37%	+0.03%

CSHP vs. BOXX - Expense Ratio Comparison

CSHP has a 0.20% expense ratio, which is higher than BOXX's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

CSHP vs. BOXX - Dividend Comparison

CSHP's dividend yield for the trailing twelve months is around 3.92%, while BOXX has not paid dividends to shareholders.

Position	TTM	2025	2024
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%

Frequently Asked Questions

Can I hold both CSHP and BOXX in my portfolio?

CSHP and BOXX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CSHP or BOXX?

BOXX has higher volatility (0.09%) compared to CSHP (0.07%). In terms of maximum drawdown, CSHP dropped -0.08% vs BOXX's -0.12%.

Which ETF is better, CSHP or BOXX?

On 1-year performance, BOXX leads with 4.10% vs 3.96% for CSHP. On fees, BOXX is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSHP or BOXX?

Over the 1-year period, BOXX has performed better with a 4.10% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSHP or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.20% for CSHP.

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

CSHP has the higher dividend yield at 3.92%, compared with 0.00% for BOXX.

What is the main difference between CSHP and BOXX?

They also come from different issuers: iShares and Alpha Architect. Their fees differ too: 0.20% for CSHP and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.84 vs 11.91), 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.