IBII vs. CSHP

Last updated Jun 5, 2026

IBII (iShares iBonds Oct 2032 Term TIPS ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - IBII is a Inflation-Protected Bonds fund tracking the ICE 2032 Maturity US Inflation-Linked Treasury Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. IBII is passively managed, while CSHP is actively managed. Over the past year, IBII returned 5.28% vs 3.94% for CSHP. At a correlation of -0.15, they often move in opposite directions. IBII charges 0.10%/yr vs 0.20%/yr for CSHP.

Performance

IBII vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2032 Term TIPS ETF (IBII) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IBII having a 1.63% return and CSHP slightly lower at 1.62%.

IBII

• 1D: 0.02%
• 1M: -0.38%
• YTD: 1.63%
• 6M: 1.21%
• 1Y: 5.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.02%
• 1M: 0.24%
• YTD: 1.62%
• 6M: 1.86%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBII vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBII iShares iBonds Oct 2032 Term TIPS ETF	1.63%	8.65%	-0.57%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.62%	4.10%	2.24%

Correlation

The correlation between IBII and CSHP is -0.21, 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	-0.21
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	-0.15

Return for Risk

IBII vs. CSHP — Risk / Return Rank

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

IBII

IBII Risk / Return Rank: 50
IBII Sharpe Ratio Rank: 46
IBII Sortino Ratio Rank: 49
IBII Omega Ratio Rank: 45
IBII Calmar Ratio Rank: 55
IBII Martin Ratio Rank: 55

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.

IBII vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.

	IBII	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	11.82	-10.26
Sortino ratio: Return per unit of downside risk	2.37	30.91	-28.53
Omega ratio: Gain probability vs. loss probability	1.28	7.26	-5.97
Calmar ratio: Return relative to maximum drawdown	2.68	65.45	-62.77
Martin ratio: Return relative to average drawdown	9.32	428.15	-418.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBII vs. CSHP - Sharpe Ratio Comparison

The current IBII Sharpe Ratio is 1.56, which is lower than the CSHP Sharpe Ratio of 11.82. The chart below compares the historical Sharpe Ratios of IBII and CSHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBII	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	11.82	-10.26
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	10.70	-9.58

Drawdowns

IBII vs. CSHP - Drawdown Comparison

The maximum IBII drawdown since its inception was -4.65%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for IBII and CSHP.

Drawdown Indicators

	IBII	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-4.65%	-0.08%	-4.57%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-0.06%	-1.92%
Current Drawdown Current decline from peak	-0.65%	-0.02%	-0.63%
Average Drawdown Average peak-to-trough decline	-1.12%	-0.00%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.01%	+0.57%

Volatility

IBII vs. CSHP - Volatility Comparison

iShares iBonds Oct 2032 Term TIPS ETF (IBII) has a higher volatility of 0.89% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.08%. This indicates that IBII'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.

Volatility by Period

	IBII	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.08%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	0.24%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	0.33%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.42%	0.40%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.42%	0.40%	+5.02%

IBII vs. CSHP - Expense Ratio Comparison

IBII has a 0.10% expense ratio, which is lower than CSHP's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBII vs. CSHP - Dividend Comparison

IBII's dividend yield for the trailing twelve months is around 4.05%, more than CSHP's 3.92% yield.

Position	TTM	2025	2024	2023
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%	0.00%
IBII iShares iBonds Oct 2032 Term TIPS ETF	4.05%	4.80%	4.76%	1.10%

Frequently Asked Questions

Can I hold both IBII and CSHP in my portfolio?

IBII and CSHP have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBII or CSHP?

IBII has higher volatility (0.89%) compared to CSHP (0.08%). In terms of maximum drawdown, IBII dropped -4.65% vs CSHP's -0.08%.

Which ETF is better, IBII or CSHP?

On 1-year performance, IBII leads with 5.28% vs 3.94% for CSHP. On fees, IBII is cheaper at 0.10% per year. On volatility, CSHP has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBII or CSHP?

Over the 1-year period, IBII has performed better with a 5.28% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBII or CSHP?

IBII is cheaper with a 0.10% expense ratio, compared with 0.20% for CSHP.

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

IBII has the higher dividend yield at 4.05%, compared with 3.92% for CSHP.

What is the main difference between IBII and CSHP?

IBII is categorized as Inflation-Protected Bonds, while CSHP is Ultrashort Bond. Their fees differ too: 0.10% for IBII and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.82 vs 1.56), 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.