HYGI vs. CSHP
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
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Returns By Period
HYGI
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.02%
- 1M
- 0.38%
- 6M
- 1.98%
- YTD
- 2.09%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 4.05% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 2.09% | 4.10% | 2.24% |
Correlation
The correlation between HYGI and CSHP is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.04 |
The correlation between HYGI and CSHP shifts across timeframes, from -0.09 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYGI vs. CSHP — Risk / Return Rank
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CSHP
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.
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.
| HYGI | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 4.94 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 19.49 | — |
| Martin ratioReturn relative to average drawdown | — | 224.95 | — |
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Drawdowns
HYGI vs. CSHP - Drawdown Comparison
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Drawdown Indicators
| HYGI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -0.21% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.21% | — |
Current DrawdownCurrent decline from peak | — | -0.02% | — |
Average DrawdownAverage peak-to-trough decline | — | -0.01% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.02% | — |
Volatility
HYGI vs. CSHP - Volatility Comparison
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Volatility by Period
| HYGI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.37% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.43% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 0.48% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 0.47% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 0.47% | — |
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 has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 4.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 4.01% | 5.39% | 1.96% | 0.00% | 0.00% |
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.50% | 3.41% | 6.08% | 6.22% | 3.19% |
Frequently Asked Questions
HYGI and CSHP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CSHP is cheaper with a 0.20% expense ratio, compared with 0.52% for HYGI.
CSHP has the higher dividend yield at 4.01%, compared with 0.50% for HYGI.
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.
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