IBDR vs. CSHI
IBDR (iShares iBonds Dec 2026 Term Corporate ETF) and CSHI (Neos Enhanced Income Cash Alternative ETF) are both exchange-traded funds - IBDR is a Corporate Bonds fund tracking the Barclays December 2026 Maturity Corporate Index, while CSHI is a Ultrashort Bond fund tracking the NONE. Both are passively managed. Over the past 3 years, IBDR returned 5.07%/yr vs 5.45%/yr for CSHI. At a 0.02 correlation, their price movements are largely independent. IBDR charges 0.10%/yr vs 0.38%/yr for CSHI.
Performance
IBDR vs. CSHI - Performance Comparison
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Returns By Period
In the year-to-date period, IBDR achieves a 1.44% return, which is significantly lower than CSHI's 2.26% return.
IBDR
- 1D
- -0.04%
- 1M
- 0.25%
- YTD
- 1.44%
- 6M
- 1.80%
- 1Y
- 4.38%
- 3Y*
- 5.07%
- 5Y*
- 1.50%
- 10Y*
- —
CSHI
- 1D
- 0.02%
- 1M
- 0.37%
- YTD
- 2.26%
- 6M
- 2.59%
- 1Y
- 5.25%
- 3Y*
- 5.45%
- 5Y*
- —
- 10Y*
- —
IBDR vs. CSHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 1.44% | 4.99% | 4.98% | 5.96% | -0.95% |
CSHI Neos Enhanced Income Cash Alternative ETF | 2.26% | 5.05% | 5.66% | 6.21% | 1.46% |
Correlation
The correlation between IBDR and CSHI is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022 | 0.02 |
The correlation between IBDR and CSHI shifts across timeframes, from -0.11 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBDR vs. CSHI — Risk / Return Rank
IBDR
CSHI
IBDR vs. CSHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2026 Term Corporate ETF (IBDR) and Neos Enhanced Income Cash Alternative ETF (CSHI). 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.
| IBDR | CSHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.76 | ||
| Omega ratioGain probability vs. loss probability | 3.40 | 2.75 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 53.28 | 29.16 | +24.13 |
| Martin ratioReturn relative to average drawdown | 185.24 | 154.18 | +31.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBDR | CSHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.93 | 6.16 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 4.18 | -3.57 |
Drawdowns
IBDR vs. CSHI - Drawdown Comparison
The maximum IBDR drawdown since its inception was -16.06%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for IBDR and CSHI.
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Drawdown Indicators
| IBDR | CSHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.06% | -1.69% | -14.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.08% | -0.18% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -1.08% | -1.69% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -13.13% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | 0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -0.03% | -2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.03% | -0.01% |
Volatility
IBDR vs. CSHI - Volatility Comparison
iShares iBonds Dec 2026 Term Corporate ETF (IBDR) has a higher volatility of 0.15% compared to Neos Enhanced Income Cash Alternative ETF (CSHI) at 0.11%. This indicates that IBDR's price experiences larger fluctuations and is considered to be riskier than CSHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBDR | CSHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.11% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.34% | 0.52% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.64% | 0.86% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.40% | 1.32% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.86% | 1.32% | +3.54% |
IBDR vs. CSHI - Expense Ratio Comparison
IBDR has a 0.10% expense ratio, which is lower than CSHI's 0.38% expense ratio.
Dividends
IBDR vs. CSHI - Dividend Comparison
IBDR's dividend yield for the trailing twelve months is around 4.13%, less than CSHI's 4.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CSHI Neos Enhanced Income Cash Alternative ETF | 4.90% | 5.11% | 5.72% | 6.15% | 1.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBDR iShares iBonds Dec 2026 Term Corporate ETF | 4.13% | 4.20% | 4.13% | 3.41% | 2.44% | 2.11% | 2.61% | 3.25% | 3.56% | 3.22% | 0.86% |
Frequently Asked Questions
IBDR and CSHI have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBDR has higher volatility (0.15%) compared to CSHI (0.11%). In terms of maximum drawdown, IBDR dropped -16.06% vs CSHI's -1.69%.
On 3-year performance, CSHI leads with 5.45% vs 5.07% for IBDR. On fees, IBDR is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CSHI has performed better with a 5.45% return vs 5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDR is cheaper with a 0.10% expense ratio, compared with 0.38% for CSHI.
CSHI has the higher dividend yield at 4.90%, compared with 4.13% for IBDR.
IBDR is categorized as Corporate Bonds, while CSHI is Ultrashort Bond. IBDR tracks Barclays December 2026 Maturity Corporate Index, while CSHI tracks NONE. They also come from different issuers: iShares and Neos. Their fees differ too: 0.10% for IBDR and 0.38% for CSHI.
IBDR currently has the higher Sharpe Ratio (6.93 vs 6.16), 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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