HYRM vs. CSHP

Last updated Jun 23, 2026

HYRM (Xtrackers Risk Managed USD High Yield Strategy ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - HYRM is a High Yield Bonds fund tracking the Adaptive Wealth Strategies Risk Managed High Yield Index - USD - US Dollar - Benchmark TR Net, while CSHP is a Ultrashort Bond fund actively managed by iShares. HYRM is passively managed, while CSHP is actively managed. At a correlation of -0.03, they often move in opposite directions. HYRM charges 0.30%/yr vs 0.20%/yr for CSHP.

Performance

HYRM vs. CSHP - Performance Comparison

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

Returns By Period

HYRM

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.01%
• 1M: 0.30%
• YTD: 1.86%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYRM vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	1.50%	5.98%	3.57%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.86%	4.10%	2.24%

Correlation

The correlation between HYRM 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 18, 2024	-0.03

The correlation between HYRM and CSHP shifts across timeframes, from -0.16 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HYRM vs. CSHP — Risk / Return Rank

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

HYRM

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

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.

HYRM vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Risk Managed USD High Yield Strategy ETF (HYRM) 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.

	HYRM	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	—	11.22	—
Sortino ratio: Return per unit of downside risk	—	28.31	—
Omega ratio: Gain probability vs. loss probability	—	6.67	—
Calmar ratio: Return relative to maximum drawdown	—	65.84	—
Martin ratio: Return relative to average drawdown	—	395.75	—

Drawdowns

Drawdown Indicators

	HYRM	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	—	-0.01%	—
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

	HYRM	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	0.36%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	0.41%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	0.41%	—

HYRM vs. CSHP - Expense Ratio Comparison

HYRM has a 0.30% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

HYRM vs. CSHP - Dividend Comparison

HYRM's dividend yield for the trailing twelve months is around 5.92%, more than CSHP's 3.91% yield.

Position	TTM	2025	2024	2023	2022
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%	0.00%	0.00%
HYRM Xtrackers Risk Managed USD High Yield Strategy ETF	5.92%	6.28%	6.08%	5.78%	4.69%

Frequently Asked Questions

Can I hold both HYRM and CSHP in my portfolio?

HYRM 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, HYRM 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, HYRM or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.30% for HYRM.

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

HYRM has the higher dividend yield at 5.92%, compared with 3.91% for CSHP.

What is the main difference between HYRM and CSHP?

HYRM is categorized as High Yield Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.30% for HYRM and 0.20% for CSHP.