EPOL vs. CSHP

Last updated Jun 24, 2026

EPOL (iShares MSCI Poland ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - EPOL is a Europe Equities fund tracking the MSCI Poland Investable Market Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. EPOL is passively managed, while CSHP is actively managed. Over the past year, EPOL returned 36.67% vs 3.94% for CSHP. At a correlation of -0.02, they often move in opposite directions. EPOL charges 0.61%/yr vs 0.20%/yr for CSHP.

Performance

EPOL vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Poland ETF (EPOL) 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, EPOL achieves a 10.88% return, which is significantly higher than CSHP's 1.83% return.

EPOL

• 1D: -1.60%
• 1M: -2.33%
• YTD: 10.88%
• 6M: 11.51%
• 1Y: 36.67%
• 3Y*: 33.20%
• 5Y*: 15.75%
• 10Y*: 11.95%

CSHP

• 1D: -0.03%
• 1M: 0.27%
• YTD: 1.83%
• 6M: 1.92%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPOL vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EPOL iShares MSCI Poland ETF	10.88%	77.34%	-10.76%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.83%	4.10%	2.24%

Correlation

The correlation between EPOL and CSHP is -0.20, 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	-0.20
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	-0.02

The correlation between EPOL and CSHP shifts across timeframes, from -0.20 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EPOL vs. CSHP — Risk / Return Rank

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

EPOL

EPOL Risk / Return Rank: 52
EPOL Sharpe Ratio Rank: 47
EPOL Sortino Ratio Rank: 47
EPOL Omega Ratio Rank: 41
EPOL Calmar Ratio Rank: 69
EPOL Martin Ratio Rank: 54

CSHP

CSHP Risk / Return Rank: 99
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 99
CSHP Omega Ratio Rank: 99
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.

EPOL vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland ETF (EPOL) 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.

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.

	EPOL	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.55	11.09	-9.53
Sortino ratio: Return per unit of downside risk	2.23	27.60	-25.36
Omega ratio: Gain probability vs. loss probability	1.26	6.46	-5.20
Calmar ratio: Return relative to maximum drawdown	3.34	65.45	-62.11
Martin ratio: Return relative to average drawdown	9.08	381.67	-372.60

EPOL vs. CSHP - Sharpe Ratio Comparison

The current EPOL Sharpe Ratio is 1.55, which is lower than the CSHP Sharpe Ratio of 11.09. The chart below compares the historical Sharpe Ratios of EPOL 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.

Drawdowns

EPOL vs. CSHP - Drawdown Comparison

The maximum EPOL drawdown since its inception was -63.72%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for EPOL and CSHP.

Drawdown Indicators

	EPOL	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-63.72%	-0.08%	-63.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-0.06%	-10.98%
Max Drawdown (3Y) Largest decline over 3 years	-21.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.41%	—	—
Current Drawdown Current decline from peak	-4.82%	-0.04%	-4.78%
Average Drawdown Average peak-to-trough decline	-26.81%	-0.00%	-26.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.05%	0.01%	+4.04%

Volatility

EPOL vs. CSHP - Volatility Comparison

iShares MSCI Poland ETF (EPOL) has a higher volatility of 7.54% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that EPOL'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

	EPOL	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	0.16%	+7.38%
Volatility (6M) Calculated over the trailing 6-month period	18.40%	0.27%	+18.13%
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	0.36%	+23.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.18%	0.41%	+28.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.43%	0.41%	+27.02%

EPOL vs. CSHP - Expense Ratio Comparison

EPOL has a 0.61% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

EPOL vs. CSHP - Dividend Comparison

EPOL's dividend yield for the trailing twelve months is around 3.80%, less than CSHP's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPOL iShares MSCI Poland ETF	3.80%	4.78%	6.04%	2.87%	2.65%	1.33%	1.44%	2.51%	1.44%	1.88%	2.14%	2.53%

Frequently Asked Questions

Can I hold both EPOL and CSHP in my portfolio?

EPOL and CSHP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPOL or CSHP?

EPOL has higher volatility (7.54%) compared to CSHP (0.16%). In terms of maximum drawdown, EPOL dropped -63.72% vs CSHP's -0.08%.

Which ETF is better, EPOL or CSHP?

On 1-year performance, EPOL leads with 36.67% vs 3.94% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPOL or CSHP?

Over the 1-year period, EPOL has performed better with a 36.67% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPOL or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.61% for EPOL.

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

CSHP has the higher dividend yield at 3.91%, compared with 3.80% for EPOL.

What is the main difference between EPOL and CSHP?

EPOL is categorized as Europe Equities, while CSHP is Ultrashort Bond. Their fees differ too: 0.61% for EPOL and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.09 vs 1.55), 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.