ICSH vs. PTY
ICSH (iShares Ultra Short Duration Bond Active ETF) and PTY (PIMCO Corporate & Income Opportunity Fund) are both funds - ICSH is a Ultrashort Bond fund actively managed by iShares, while PTY is a Corporate Bonds fund managed by FPA. Over the past 10 years, ICSH returned 2.77%/yr vs 8.37%/yr for PTY. At a 0.09 correlation, their price movements are largely independent. ICSH charges 0.08%/yr vs 1.19%/yr for PTY.
Performance
ICSH vs. PTY - Performance Comparison
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Returns By Period
In the year-to-date period, ICSH achieves a 1.43% return, which is significantly higher than PTY's -3.69% return. Over the past 10 years, ICSH has underperformed PTY with an annualized return of 2.77%, while PTY has yielded a comparatively higher 8.37% annualized return.
ICSH
- 1D
- 0.02%
- 1M
- 0.18%
- YTD
- 1.43%
- 6M
- 1.75%
- 1Y
- 4.30%
- 3Y*
- 5.15%
- 5Y*
- 3.67%
- 10Y*
- 2.77%
PTY
- 1D
- 0.00%
- 1M
- -2.72%
- YTD
- -3.69%
- 6M
- -4.44%
- 1Y
- -4.39%
- 3Y*
- 6.93%
- 5Y*
- -0.64%
- 10Y*
- 8.37%
ICSH vs. PTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 1.43% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
PTY PIMCO Corporate & Income Opportunity Fund | -3.69% | -0.51% | 19.87% | 22.56% | -18.71% | 0.40% | 3.24% | 35.36% | 2.49% | 26.63% |
Correlation
The correlation between ICSH and PTY is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013 | 0.09 |
The correlation between ICSH and PTY shifts across timeframes, from 0.09 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ICSH vs. PTY — Risk / Return Rank
ICSH
PTY
ICSH vs. PTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and PIMCO Corporate & Income Opportunity Fund (PTY). 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 | PTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +11.41 | ||
| Sortino ratioReturn per unit of downside risk | +27.84 | ||
| Omega ratioGain probability vs. loss probability | 6.56 | 0.93 | +5.64 |
| Calmar ratioReturn relative to maximum drawdown | 43.67 | -0.29 | +43.95 |
| Martin ratioReturn relative to average drawdown | 288.81 | -0.57 | +289.38 |
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
| ICSH | PTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.01 | -0.41 | +11.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 7.62 | -0.04 | +7.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.63 | 0.40 | +2.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.93 | 0.46 | +1.47 |
Drawdowns
ICSH vs. PTY - Drawdown Comparison
The maximum ICSH drawdown since its inception was -3.94%, smaller than the maximum PTY drawdown of -60.86%. Use the drawdown chart below to compare losses from any high point for ICSH and PTY.
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Drawdown Indicators
| ICSH | PTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -60.86% | +56.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -15.44% | +15.34% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -16.04% | +15.94% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | -41.38% | +40.65% |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | -46.55% | +42.61% |
Current DrawdownCurrent decline from peak | -0.02% | -12.59% | +12.57% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -8.61% | +8.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 7.72% | -7.71% |
Volatility
ICSH vs. PTY - Volatility Comparison
The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.15%, while PIMCO Corporate & Income Opportunity Fund (PTY) has a volatility of 2.70%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than PTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICSH | PTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 2.70% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 7.49% | -7.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.39% | 10.82% | -10.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.48% | 17.40% | -16.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 21.20% | -20.14% |
ICSH vs. PTY - Expense Ratio Comparison
ICSH has a 0.08% expense ratio, which is lower than PTY's 1.19% expense ratio.
Dividends
ICSH vs. PTY - Dividend Comparison
ICSH's dividend yield for the trailing twelve months is around 4.34%, less than PTY's 12.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PTY PIMCO Corporate & Income Opportunity Fund | 12.03% | 11.05% | 9.92% | 10.77% | 13.12% | 9.16% | 8.74% | 8.37% | 10.63% | 9.48% | 12.09% | 11.92% |
Frequently Asked Questions
ICSH and PTY have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTY has higher volatility (2.70%) compared to ICSH (0.15%). In terms of maximum drawdown, ICSH dropped -3.94% vs PTY's -60.86%.
ICSH currently has the higher Sharpe Ratio (11.01 vs -0.41), 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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