CSHP vs. IBIT

Last updated Jul 15, 2026

CSHP (iShares Enhanced Short-Term Bond Active ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - CSHP is a Ultrashort Bond fund actively managed by iShares, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. CSHP is actively managed, while IBIT is passively managed. Over the past year, CSHP returned 3.90% vs -46.35% for IBIT. At a 0.09 correlation, their price movements are largely independent. CSHP charges 0.20%/yr vs 0.25%/yr for IBIT.

Performance

CSHP vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Enhanced Short-Term Bond Active ETF (CSHP) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSHP achieves a 2.04% return, which is significantly higher than IBIT's -26.32% return.

CSHP

• 1D: 0.16%
• 1M: 0.33%
• 6M: 1.92%
• YTD: 2.04%
• 1Y: 3.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: 3.86%
• 1M: 1.50%
• 6M: -31.72%
• YTD: -26.32%
• 1Y: -46.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSHP vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	2.04%	4.10%	2.24%
IBIT iShares Bitcoin Trust ETF	-26.32%	-6.41%	44.00%

Correlation

The correlation between CSHP and IBIT is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.09

The correlation between CSHP and IBIT shifts across timeframes, from -0.04 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CSHP vs. IBIT — Risk / Return Rank

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

CSHP

CSHP Risk / Return Rank: 99
CSHP Sharpe Ratio Rank: 99
CSHP Sortino Ratio Rank: 99
CSHP Omega Ratio Rank: 99
CSHP Calmar Ratio Rank: 99
CSHP Martin Ratio Rank: 99

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Enhanced Short-Term Bond Active ETF (CSHP) and iShares Bitcoin Trust ETF (IBIT). 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.

	CSHP	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	7.07	-1.05	+8.12
Sortino ratio: Return per unit of downside risk	11.54	-1.58	+13.12
Omega ratio: Gain probability vs. loss probability	4.20	0.83	+3.37
Calmar ratio: Return relative to maximum drawdown	16.91	-0.87	+17.78
Martin ratio: Return relative to average drawdown	167.20	-1.41	+168.61

CSHP vs. IBIT - Sharpe Ratio Comparison

The current CSHP Sharpe Ratio is 7.07, which is higher than the IBIT Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of CSHP and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CSHP vs. IBIT - Drawdown Comparison

The maximum CSHP drawdown since its inception was -0.23%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for CSHP and IBIT.

Drawdown Indicators

	CSHP	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-0.23%	-53.30%	+53.07%
Max Drawdown (1Y) Largest decline over 1 year	-0.23%	-53.30%	+53.07%
Current Drawdown Current decline from peak	-0.07%	-48.69%	+48.62%
Average Drawdown Average peak-to-trough decline	-0.01%	-17.61%	+17.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	32.86%	-32.84%

Volatility

CSHP vs. IBIT - Volatility Comparison

The current volatility for iShares Enhanced Short-Term Bond Active ETF (CSHP) is 0.46%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.82%. This indicates that CSHP experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSHP	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	11.82%	-11.36%
Volatility (6M) Calculated over the trailing 6-month period	0.51%	35.03%	-34.52%
Volatility (1Y) Calculated over the trailing 1-year period	0.55%	44.48%	-43.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.51%	49.99%	-49.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.51%	49.99%	-49.48%

CSHP vs. IBIT - Expense Ratio Comparison

CSHP has a 0.20% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, 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. IBIT - Dividend Comparison

CSHP's dividend yield for the trailing twelve months is around 4.01%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	4.01%	5.39%	1.96%
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSHP and IBIT in my portfolio?

CSHP and IBIT have a correlation of -0.04, 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 IBIT?

IBIT has higher volatility (11.82%) compared to CSHP (0.46%). In terms of maximum drawdown, CSHP dropped -0.23% vs IBIT's -53.30%.

Which ETF is better, CSHP or IBIT?

On 1-year performance, CSHP leads with 3.90% vs -46.35% for IBIT. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CSHP or IBIT?

Over the 1-year period, CSHP has performed better with a 3.90% return vs -46.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CSHP or IBIT?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.25% for IBIT.

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

CSHP has the higher dividend yield at 4.01%, compared with 0.00% for IBIT.

What is the main difference between CSHP and IBIT?

CSHP is categorized as Ultrashort Bond, while IBIT is Cryptocurrency. Their fees differ too: 0.20% for CSHP and 0.25% for IBIT.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (7.07 vs -1.05), 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.