HYGI vs. CSHP

Last updated Jun 4, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while CSHP is a Ultrashort Bond fund actively managed by iShares. HYGI is passively managed, while CSHP is actively managed. At a 0.04 correlation, their price movements are largely independent. HYGI charges 0.52%/yr vs 0.20%/yr for CSHP.

Performance

HYGI vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 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)

HYGI vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	4.27%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	4.10%	2.24%

Correlation

The correlation between HYGI and CSHP is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	0.04

The correlation between HYGI and CSHP shifts across timeframes, from -0.16 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

HYGI vs. CSHP - Sectors Allocation Comparison

Sectors	HYGI	CSHP
Utilities	99.6%	-
Real Estate	0.4%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Technology	-	-

Return for Risk

HYGI vs. CSHP — Risk / Return Rank

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

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.

HYGI vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HYGI	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	11.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	10.75	—

Drawdowns

Drawdown Indicators

	HYGI	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	—	-0.08%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-0.06%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-0.00%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	HYGI	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.33%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.40%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.40%	—

HYGI vs. CSHP - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

HYGI vs. CSHP - Dividend Comparison

HYGI's dividend yield for the trailing twelve months is around 0.97%, 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%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%

Frequently Asked Questions

Can I hold both HYGI and CSHP in my portfolio?

HYGI and CSHP have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or CSHP?

On fees, CSHP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.52% for HYGI.

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

CSHP has the higher dividend yield at 3.92%, compared with 0.97% for HYGI.

What is the main difference between HYGI and CSHP?

HYGI is categorized as Inflation-Protected Bonds, while CSHP is Ultrashort Bond. Their fees differ too: 0.52% for HYGI and 0.20% for CSHP.