DSMC vs. CSHP

Last updated Jun 4, 2026

DSMC (Distillate Small/Mid Cash Flow ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - DSMC is a Small Cap Value Equities fund actively managed by Distillate, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, DSMC returned 27.29% vs 3.96% for CSHP. At a 0.02 correlation, their price movements are largely independent. DSMC charges 0.55%/yr vs 0.20%/yr for CSHP.

Performance

DSMC vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Distillate Small/Mid Cash Flow ETF (DSMC) 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, DSMC achieves a 12.84% return, which is significantly higher than CSHP's 1.63% return.

DSMC

• 1D: -1.10%
• 1M: 1.55%
• YTD: 12.84%
• 6M: 12.14%
• 1Y: 27.29%
• 3Y*: 13.36%
• 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)

DSMC vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DSMC Distillate Small/Mid Cash Flow ETF	12.84%	2.73%	-3.02%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	4.10%	2.24%

Correlation

The correlation between DSMC and CSHP is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	0.02

The correlation between DSMC and CSHP shifts across timeframes, from -0.13 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

DSMC vs. CSHP - Sectors Allocation Comparison

Sectors	DSMC	CSHP
Technology	21.5%	-
Consumer Cyclical	19.9%	-
Industrials	17.8%	-
Energy	17.0%	-
Communication Services	6.0%	-
Healthcare	5.0%	-
Consumer Defensive	4.8%	-
Financial Services	4.1%	0.1%
Basic Materials	3.5%	-
Real Estate	0.4%	-
Utilities	-	-

Return for Risk

DSMC vs. CSHP — Risk / Return Rank

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

DSMC

DSMC Risk / Return Rank: 49
DSMC Sharpe Ratio Rank: 46
DSMC Sortino Ratio Rank: 49
DSMC Omega Ratio Rank: 44
DSMC Calmar Ratio Rank: 54
DSMC Martin Ratio Rank: 52

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.

DSMC vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Distillate Small/Mid Cash Flow ETF (DSMC) 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.

	DSMC	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.59	11.91	-10.31
Sortino ratio: Return per unit of downside risk	2.41	31.26	-28.85
Omega ratio: Gain probability vs. loss probability	1.28	7.44	-6.16
Calmar ratio: Return relative to maximum drawdown	2.65	65.71	-63.05
Martin ratio: Return relative to average drawdown	8.82	432.16	-423.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DSMC vs. CSHP - Sharpe Ratio Comparison

The current DSMC Sharpe Ratio is 1.59, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of DSMC 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

	DSMC	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	11.91	-10.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	10.75	-10.00

Drawdowns

DSMC vs. CSHP - Drawdown Comparison

The maximum DSMC drawdown since its inception was -28.62%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for DSMC and CSHP.

Drawdown Indicators

	DSMC	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-28.62%	-0.08%	-28.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-0.06%	-10.27%
Max Drawdown (3Y) Largest decline over 3 years	-28.62%	—	—
Current Drawdown Current decline from peak	-1.66%	0.00%	-1.66%
Average Drawdown Average peak-to-trough decline	-6.00%	-0.00%	-6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	0.01%	+3.09%

Volatility

DSMC vs. CSHP - Volatility Comparison

Distillate Small/Mid Cash Flow ETF (DSMC) has a higher volatility of 4.40% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that DSMC'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

	DSMC	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	0.07%	+4.33%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	0.24%	+10.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.33%	0.33%	+17.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.39%	0.40%	+19.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.39%	0.40%	+19.99%

DSMC vs. CSHP - Expense Ratio Comparison

DSMC has a 0.55% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

DSMC vs. CSHP - Dividend Comparison

DSMC's dividend yield for the trailing twelve months is around 1.13%, less than CSHP's 3.92% yield.

Position	TTM	2025	2024	2023	2022
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%	0.00%	0.00%
DSMC Distillate Small/Mid Cash Flow ETF	1.13%	1.18%	1.31%	1.02%	0.27%

Frequently Asked Questions

Can I hold both DSMC and CSHP in my portfolio?

DSMC and CSHP have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSMC or CSHP?

DSMC has higher volatility (4.40%) compared to CSHP (0.07%). In terms of maximum drawdown, DSMC dropped -28.62% vs CSHP's -0.08%.

Which ETF is better, DSMC or CSHP?

On 1-year performance, DSMC leads with 27.29% vs 3.96% for CSHP. 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, DSMC or CSHP?

Over the 1-year period, DSMC has performed better with a 27.29% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSMC or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.55% for DSMC.

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

CSHP has the higher dividend yield at 3.92%, compared with 1.13% for DSMC.

What is the main difference between DSMC and CSHP?

DSMC is categorized as Small Cap Value Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Distillate and iShares. Their fees differ too: 0.55% for DSMC and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs 1.59), 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.