HDEF vs. CSHP
HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE High Dividend Yield US Dollar Hedged Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. HDEF is passively managed, while CSHP is actively managed. Over the past year, HDEF returned 16.79% vs 3.96% for CSHP. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
HDEF vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, HDEF achieves a 4.67% return, which is significantly higher than CSHP's 1.86% return.
HDEF
- 1D
- 0.10%
- 1M
- -2.50%
- YTD
- 4.67%
- 6M
- 5.08%
- 1Y
- 16.79%
- 3Y*
- 16.60%
- 5Y*
- 10.39%
- 10Y*
- 8.91%
CSHP
- 1D
- -0.01%
- 1M
- 0.30%
- YTD
- 1.86%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDEF vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 4.67% | 33.01% | -3.41% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.86% | 4.10% | 2.24% |
Correlation
The correlation between HDEF 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 18, 2024 | 0.01 |
The correlation between HDEF and CSHP shifts across timeframes, from -0.13 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDEF vs. CSHP — Risk / Return Rank
HDEF
CSHP
HDEF vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) 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.
| HDEF | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.79 | ||
| Sortino ratioReturn per unit of downside risk | -26.28 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 6.67 | -5.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 65.84 | -63.74 |
| Martin ratioReturn relative to average drawdown | 6.08 | 395.75 | -389.67 |
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Drawdowns
HDEF vs. CSHP - Drawdown Comparison
The maximum HDEF drawdown since its inception was -36.43%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for HDEF and CSHP.
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Drawdown Indicators
| HDEF | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.43% | -0.08% | -36.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -0.06% | -7.97% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.43% | — | — |
Current DrawdownCurrent decline from peak | -5.07% | -0.01% | -5.06% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -0.00% | -5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 0.01% | +2.76% |
Volatility
HDEF vs. CSHP - Volatility Comparison
Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) has a higher volatility of 3.03% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.15%. This indicates that HDEF'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.
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Volatility by Period
| HDEF | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 0.15% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 0.27% | +9.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 0.36% | +11.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.14% | 0.41% | +13.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 0.41% | +15.72% |
HDEF vs. CSHP - Expense Ratio Comparison
Both HDEF and CSHP have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
HDEF vs. CSHP - Dividend Comparison
HDEF's dividend yield for the trailing twelve months is around 3.97%, more 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% |
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 3.97% | 3.88% | 4.53% | 4.38% | 5.41% | 4.76% | 3.93% | 4.20% | 3.55% | 3.38% | 9.53% | 1.87% |
Frequently Asked Questions
HDEF 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.
HDEF has higher volatility (3.03%) compared to CSHP (0.15%). In terms of maximum drawdown, HDEF dropped -36.43% vs CSHP's -0.08%.
On 1-year performance, HDEF leads with 16.79% vs 3.96% for CSHP. Both ETFs have the same 0.20% expense ratio. On volatility, CSHP has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HDEF has performed better with a 16.79% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDEF and CSHP have the same expense ratio: 0.20% per year.
HDEF has the higher dividend yield at 3.97%, compared with 3.91% for CSHP.
HDEF is categorized as Foreign Large Cap Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Deutsche Bank and iShares.
CSHP currently has the higher Sharpe Ratio (11.22 vs 1.43), 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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