CSHP vs. RAVI
CSHP (iShares Enhanced Short-Term Bond Active ETF) and RAVI (FlexShares Ultra-Short Income ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, CSHP returned 3.96% vs 4.50% for RAVI. At a correlation of -0.03, they often move in opposite directions. CSHP charges 0.20%/yr vs 0.25%/yr for RAVI.
Performance
CSHP vs. RAVI - Performance Comparison
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Returns By Period
In the year-to-date period, CSHP achieves a 1.63% return, which is significantly higher than RAVI's 1.53% return.
CSHP
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.63%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RAVI
- 1D
- 0.02%
- 1M
- 0.39%
- YTD
- 1.53%
- 6M
- 1.92%
- 1Y
- 4.50%
- 3Y*
- 5.21%
- 5Y*
- 3.50%
- 10Y*
- 2.67%
CSHP vs. RAVI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.63% | 4.10% | 2.24% |
RAVI FlexShares Ultra-Short Income ETF | 1.53% | 4.98% | 2.45% |
Correlation
The correlation between CSHP and RAVI is -0.07, 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 | -0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024 | -0.03 |
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Return for Risk
CSHP vs. RAVI — Risk / Return Rank
CSHP
RAVI
CSHP vs. RAVI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Enhanced Short-Term Bond Active ETF (CSHP) and FlexShares Ultra-Short Income ETF (RAVI). 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 | RAVI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +7.58 | ||
| Omega ratioGain probability vs. loss probability | 7.44 | 5.39 | +2.05 |
| Calmar ratioReturn relative to maximum drawdown | 65.71 | 38.66 | +27.04 |
| Martin ratioReturn relative to average drawdown | 432.16 | 225.58 | +206.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSHP | RAVI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.91 | 11.02 | +0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 2.49 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 2.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 10.75 | 2.03 | +8.72 |
Drawdowns
CSHP vs. RAVI - Drawdown Comparison
The maximum CSHP drawdown since its inception was -0.08%, smaller than the maximum RAVI drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for CSHP and RAVI.
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Drawdown Indicators
| CSHP | RAVI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.08% | -3.72% | +3.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -0.12% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.36% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -3.28% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.72% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.17% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.02% | -0.01% |
Volatility
CSHP vs. RAVI - Volatility Comparison
The current volatility for iShares Enhanced Short-Term Bond Active ETF (CSHP) is 0.07%, while FlexShares Ultra-Short Income ETF (RAVI) has a volatility of 0.15%. This indicates that CSHP experiences smaller price fluctuations and is considered to be less risky than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSHP | RAVI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.15% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.24% | 0.30% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.33% | 0.41% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 1.41% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.40% | 1.28% | -0.88% |
CSHP vs. RAVI - Expense Ratio Comparison
CSHP has a 0.20% expense ratio, which is lower than RAVI'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. RAVI - Dividend Comparison
CSHP's dividend yield for the trailing twelve months is around 3.92%, less than RAVI's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.92% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RAVI FlexShares Ultra-Short Income ETF | 4.38% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
Frequently Asked Questions
CSHP and RAVI have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RAVI has higher volatility (0.15%) compared to CSHP (0.07%). In terms of maximum drawdown, CSHP dropped -0.08% vs RAVI's -3.72%.
On 1-year performance, RAVI leads with 4.50% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RAVI has performed better with a 4.50% return vs 3.96%. 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 0.25% for RAVI.
RAVI has the higher dividend yield at 4.38%, compared with 3.92% for CSHP.
They also come from different issuers: iShares and FlexShares. Their fees differ too: 0.20% for CSHP and 0.25% for RAVI.
CSHP currently has the higher Sharpe Ratio (11.91 vs 11.02), 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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