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EUFN vs. ICSH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUFN vs. ICSH

Last updated Jun 13, 2026

EUFN (iShares MSCI Europe Financials ETF) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both exchange-traded funds - EUFN is a Financials Equities fund tracking the MSCI Europe Financials Index, while ICSH is a Ultrashort Bond fund actively managed by iShares. EUFN is passively managed, while ICSH is actively managed. Over the past 10 years, EUFN returned 13.48%/yr vs 2.78%/yr for ICSH. At a 0.05 correlation, their price movements are largely independent. EUFN charges 0.48%/yr vs 0.08%/yr for ICSH.

Performance

EUFN vs. ICSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Europe Financials ETF (EUFN) and iShares Ultra Short Duration Bond Active ETF (ICSH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUFN achieves a 4.75% return, which is significantly higher than ICSH's 1.53% return. Over the past 10 years, EUFN has outperformed ICSH with an annualized return of 13.48%, while ICSH has yielded a comparatively lower 2.78% annualized return.

EUFN

1D
1.20%
1M
3.43%
YTD
4.75%
6M
9.10%
1Y
28.57%
3Y*
32.04%
5Y*
18.43%
10Y*
13.48%

ICSH

1D
0.00%
1M
0.32%
YTD
1.53%
6M
1.81%
1Y
4.32%
3Y*
5.16%
5Y*
3.69%
10Y*
2.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUFN vs. ICSH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EUFN
iShares MSCI Europe Financials ETF		4.75%65.73%17.20%26.15%-8.78%19.13%-8.55%20.73%-23.14%26.94%
ICSH
iShares Ultra Short Duration Bond Active ETF		1.53%4.96%5.52%5.58%0.97%0.16%1.61%3.17%2.25%1.63%

Correlation

The correlation between EUFN and ICSH is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2013

0.05

The correlation between EUFN and ICSH shifts across timeframes, from 0.05 (10 years) to 0.23 (1 year), reflecting how their relationship changes across market environments.

EUFN vs. ICSH - Sectors Allocation Comparison

Sectors
EUFN
ICSH

Financial Services

97.1%

-

Technology

1.0%

-

Industrials

0.4%

-

Consumer Cyclical

0.2%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

-

100.0%

Financial Services

EUFN
97.1%
ICSH

-

Technology

EUFN
1.0%
ICSH

-

Industrials

EUFN
0.4%
ICSH

-

Consumer Cyclical

EUFN
0.2%
ICSH

-

Basic Materials

EUFN

-

ICSH

-

Communication Services

EUFN

-

ICSH

-

Consumer Defensive

EUFN

-

ICSH

-

Energy

EUFN

-

ICSH

-

Healthcare

EUFN

-

ICSH

-

Real Estate

EUFN

-

ICSH

-

Utilities

EUFN

-

ICSH
100.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Europe Financials ETF

iShares Ultra Short Duration Bond Active ETF

Often compared with EUFN:
EUFN vs. XLFEUFN vs. FDDEUFN vs. SPYEUFN vs. GSIBEUFN vs. EURLEUFN vs. IEUREUFN vs. EIRL
Often compared with ICSH:
ICSH vs. SGOVICSH vs. JPSTICSH vs. PULSICSH vs. SPAXXICSH vs. BILICSH vs. FLDRICSH vs. SHV

Return for Risk

EUFN vs. ICSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUFN
EUFN Risk / Return Rank: 4242
Overall Rank
EUFN Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
EUFN Sortino Ratio Rank: 4242
Sortino Ratio Rank
EUFN Omega Ratio Rank: 3939
Omega Ratio Rank
EUFN Calmar Ratio Rank: 4141
Calmar Ratio Rank
EUFN Martin Ratio Rank: 4444
Martin Ratio Rank
ICSH
ICSH Risk / Return Rank: 9999
Overall Rank
ICSH Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
ICSH Sortino Ratio Rank: 9999
Sortino Ratio Rank
ICSH Omega Ratio Rank: 9999
Omega Ratio Rank
ICSH Calmar Ratio Rank: 9999
Calmar Ratio Rank
ICSH Martin Ratio Rank: 9999
Martin Ratio Rank
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.

EUFN vs. ICSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Financials ETF (EUFN) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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.

EUFNICSHDifference
Sharpe ratioReturn per unit of total volatility
1.31
10.98

-9.68

Sortino ratioReturn per unit of downside risk
1.92
27.49

-25.57

Omega ratioGain probability vs. loss probability

1.23

6.59

-5.36

Calmar ratioReturn relative to maximum drawdown

1.79

43.88

-42.09

Martin ratioReturn relative to average drawdown

6.24

290.20

-283.97

EUFN vs. ICSH - Sharpe Ratio Comparison

The current EUFN Sharpe Ratio is 1.31, which is lower than the ICSH Sharpe Ratio of 10.98. The chart below compares the historical Sharpe Ratios of EUFN and ICSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EUFN vs. ICSH - Drawdown Comparison

The maximum EUFN drawdown since its inception was -53.25%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for EUFN and ICSH.

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Drawdown Indicators

EUFNICSHDifference

Max Drawdown

Largest peak-to-trough decline

-53.25%

-3.94%

-49.31%

Max Drawdown (1Y)

Largest decline over 1 year

-14.77%

-0.10%

-14.67%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-0.10%

-15.85%

Max Drawdown (5Y)

Largest decline over 5 years

-35.15%

-0.73%

-34.42%

Max Drawdown (10Y)

Largest decline over 10 years

-53.25%

-3.94%

-49.31%

Current Drawdown

Current decline from peak

-0.10%

0.00%

-0.10%

Average Drawdown

Average peak-to-trough decline

-14.53%

-0.08%

-14.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.23%

0.01%

+4.22%

Volatility

EUFN vs. ICSH - Volatility Comparison

iShares MSCI Europe Financials ETF (EUFN) has a higher volatility of 6.96% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.13%. This indicates that EUFN's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUFNICSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.96%

0.13%

+6.83%

Volatility (6M)

Calculated over the trailing 6-month period

17.05%

0.29%

+16.76%

Volatility (1Y)

Calculated over the trailing 1-year period

20.17%

0.39%

+19.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.88%

0.48%

+21.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.53%

1.06%

+23.47%

EUFN vs. ICSH - Expense Ratio Comparison

EUFN has a 0.48% expense ratio, which is higher than ICSH's 0.08% expense ratio.

Dividends

EUFN vs. ICSH - Dividend Comparison

EUFN's dividend yield for the trailing twelve months is around 3.41%, less than ICSH's 4.34% yield.

PositionTTM20252024202320222021202020192018201720162015
EUFN
iShares MSCI Europe Financials ETF		3.41%3.57%5.36%5.00%4.24%4.15%1.38%4.55%6.48%3.04%4.03%3.65%
ICSH
iShares Ultra Short Duration Bond Active ETF		4.34%4.55%5.24%4.78%1.66%0.42%1.21%2.61%2.20%1.36%0.88%0.54%

Frequently Asked Questions

EUFN and ICSH have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EUFN has higher volatility (6.96%) compared to ICSH (0.13%). In terms of maximum drawdown, EUFN dropped -53.25% vs ICSH's -3.94%.

On 10-year performance, EUFN leads with 13.48% vs 2.78% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EUFN has performed better with a 13.48% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ICSH is cheaper with a 0.08% expense ratio, compared with 0.48% for EUFN.

ICSH has the higher dividend yield at 4.34%, compared with 3.41% for EUFN.

EUFN is categorized as Financials Equities, while ICSH is Ultrashort Bond. Their fees differ too: 0.48% for EUFN and 0.08% for ICSH.

ICSH currently has the higher Sharpe Ratio (10.98 vs 1.31), 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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