ICSH vs. IBHD

Last updated Jun 4, 2026

ICSH (iShares Ultra Short Duration Bond Active ETF) and IBHD (iShares iBonds 2024 Term High Yield & Income ETF) are both exchange-traded funds - ICSH is a Ultrashort Bond fund tracking the ICE BofA US 6-Month Treasury Bill Index (USD), while IBHD is a High Yield Bonds fund tracking the Bloomberg 2024 Term High Yield and Income Index. Both are passively managed. ICSH charges 0.08%/yr vs 0.35%/yr for IBHD.

Performance

ICSH vs. IBHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ultra Short Duration Bond Active ETF (ICSH) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ICSH

• 1D: 0.00%
• 1M: 0.34%
• YTD: 1.45%
• 6M: 1.79%
• 1Y: 4.36%
• 3Y*: 5.20%
• 5Y*: 3.67%
• 10Y*: 2.76%

IBHD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICSH vs. IBHD - Yearly Performance Comparison

	2026 (YTD)
ICSH iShares Ultra Short Duration Bond Active ETF	1.03%
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%

Return for Risk

ICSH vs. IBHD — Risk / Return Rank

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

ICSH

ICSH Risk / Return Rank: 99
ICSH Sharpe Ratio Rank: 99
ICSH Sortino Ratio Rank: 100
ICSH Omega Ratio Rank: 100
ICSH Calmar Ratio Rank: 99
ICSH Martin Ratio Rank: 99

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.

ICSH vs. IBHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and iShares iBonds 2024 Term High Yield & Income ETF (IBHD). 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.

	ICSH	IBHD	Difference
Sharpe ratio: Return per unit of total volatility	11.22	—	—
Sortino ratio: Return per unit of downside risk	28.46	—	—
Omega ratio: Gain probability vs. loss probability	6.79	—	—
Calmar ratio: Return relative to maximum drawdown	44.30	—	—
Martin ratio: Return relative to average drawdown	297.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ICSH	IBHD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.22	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	7.64	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	2.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.93	—	—

Drawdowns

ICSH vs. IBHD - Drawdown Comparison

The maximum ICSH drawdown since its inception was -3.94%, which is greater than IBHD's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ICSH and IBHD.

Drawdown Indicators

	ICSH	IBHD	Difference
Max Drawdown Largest peak-to-trough decline	-3.94%	0.00%	-3.94%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-0.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-3.94%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.08%	0.00%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	—	—

Volatility

Volatility by Period

	ICSH	IBHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.39%	0.00%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.48%	0.00%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.06%	0.00%	+1.06%

ICSH vs. IBHD - Expense Ratio Comparison

ICSH has a 0.08% expense ratio, which is lower than IBHD's 0.35% expense ratio.

Dividends

ICSH vs. IBHD - Dividend Comparison

ICSH's dividend yield for the trailing twelve months is around 4.34%, while IBHD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBHD iShares iBonds 2024 Term High Yield & Income ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ICSH iShares Ultra Short Duration Bond Active ETF	4.34%	4.55%	5.24%	4.78%	1.66%	0.42%	1.21%	2.61%	2.20%	1.36%	0.88%	0.54%

Frequently Asked Questions

Which ETF is better, ICSH or IBHD?

On fees, ICSH is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICSH or IBHD?

ICSH is cheaper with a 0.08% expense ratio, compared with 0.35% for IBHD.

Which ETF pays a higher dividend yield, ICSH or IBHD?

ICSH has the higher dividend yield at 4.34%, compared with 0.00% for IBHD.

What is the main difference between ICSH and IBHD?

ICSH is categorized as Ultrashort Bond, while IBHD is High Yield Bonds. ICSH tracks ICE BofA US 6-Month Treasury Bill Index (USD), while IBHD tracks Bloomberg 2024 Term High Yield and Income Index. Their fees differ too: 0.08% for ICSH and 0.35% for IBHD.