HYUP vs. CSHP
HYUP (Xtrackers High Beta High Yield Bond ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - HYUP is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market High Beta Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. HYUP is passively managed, while CSHP is actively managed. Over the past year, HYUP returned 6.49% vs 3.94% for CSHP. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.20% expense ratio.
Performance
HYUP vs. CSHP - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with HYUP at 1.83% and CSHP at 1.83%.
HYUP
- 1D
- -0.07%
- 1M
- 0.42%
- YTD
- 1.83%
- 6M
- 2.23%
- 1Y
- 6.49%
- 3Y*
- 10.30%
- 5Y*
- 4.29%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYUP vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYUP Xtrackers High Beta High Yield Bond ETF | 1.83% | 8.83% | 5.52% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between HYUP and CSHP is -0.17, 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 | -0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | -0.05 |
The correlation between HYUP and CSHP shifts across timeframes, from -0.17 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYUP vs. CSHP — Risk / Return Rank
HYUP
CSHP
HYUP vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers High Beta High Yield Bond ETF (HYUP) 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.
| HYUP | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.56 | ||
| Sortino ratioReturn per unit of downside risk | -25.28 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 6.46 | -5.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 65.45 | -63.31 |
| Martin ratioReturn relative to average drawdown | 9.08 | 381.67 | -372.59 |
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Drawdowns
HYUP vs. CSHP - Drawdown Comparison
The maximum HYUP drawdown since its inception was -24.79%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for HYUP and CSHP.
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Drawdown Indicators
| HYUP | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.79% | -0.08% | -24.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -0.06% | -2.99% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -0.04% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -0.00% | -3.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.01% | +0.71% |
Volatility
HYUP vs. CSHP - Volatility Comparison
Xtrackers High Beta High Yield Bond ETF (HYUP) has a higher volatility of 1.13% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that HYUP'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
| HYUP | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.16% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 0.27% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.28% | 0.36% | +3.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.29% | 0.41% | +7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.73% | 0.41% | +9.32% |
HYUP vs. CSHP - Expense Ratio Comparison
Both HYUP 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
HYUP vs. CSHP - Dividend Comparison
HYUP's dividend yield for the trailing twelve months is around 7.32%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
HYUP Xtrackers High Beta High Yield Bond ETF | 7.32% | 7.44% | 7.78% | 7.48% | 7.15% | 6.19% | 6.89% | 6.77% | 6.98% |
Frequently Asked Questions
HYUP and CSHP have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYUP has higher volatility (1.13%) compared to CSHP (0.16%). In terms of maximum drawdown, HYUP dropped -24.79% vs CSHP's -0.08%.
On 1-year performance, HYUP leads with 6.49% vs 3.94% for CSHP. Both ETFs have the same 0.20% expense ratio. On volatility, CSHP has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYUP has performed better with a 6.49% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYUP and CSHP have the same expense ratio: 0.20% per year.
HYUP has the higher dividend yield at 7.32%, compared with 3.91% for CSHP.
HYUP is categorized as High Yield Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Deutsche Bank and iShares.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.53), 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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