ICSH vs. PXI
ICSH (iShares Ultra Short Duration Bond Active ETF) and PXI (Invesco DWA Energy Momentum ETF) are both exchange-traded funds - ICSH is a Ultrashort Bond fund actively managed by iShares, while PXI is a Momentum fund tracking the Dorsey Wright Energy Technical Leaders Index. ICSH is actively managed, while PXI is passively managed. Over the past 10 years, ICSH returned 2.78%/yr vs 5.39%/yr for PXI. At a correlation of -0.00, they often move in opposite directions. ICSH charges 0.08%/yr vs 0.60%/yr for PXI.
Performance
ICSH vs. PXI - Performance Comparison
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Returns By Period
In the year-to-date period, ICSH achieves a 1.77% return, which is significantly lower than PXI's 26.12% return. Over the past 10 years, ICSH has underperformed PXI with an annualized return of 2.78%, while PXI has yielded a comparatively higher 5.39% annualized return.
ICSH
- 1D
- -0.01%
- 1M
- 0.24%
- 6M
- 1.71%
- YTD
- 1.77%
- 1Y
- 4.09%
- 3Y*
- 5.09%
- 5Y*
- 3.73%
- 10Y*
- 2.78%
PXI
- 1D
- 0.50%
- 1M
- -2.17%
- 6M
- 21.43%
- YTD
- 26.12%
- 1Y
- 30.13%
- 3Y*
- 12.92%
- 5Y*
- 16.15%
- 10Y*
- 5.39%
ICSH vs. PXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 1.77% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
PXI Invesco DWA Energy Momentum ETF | 26.12% | 3.86% | 0.76% | 5.48% | 45.85% | 75.05% | -35.91% | 1.67% | -27.56% | -8.42% |
Correlation
The correlation between ICSH and PXI is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013 | -0.00 |
The correlation between ICSH and PXI shifts across timeframes, from -0.19 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ICSH vs. PXI — Risk / Return Rank
ICSH
PXI
ICSH vs. PXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and Invesco DWA Energy Momentum ETF (PXI). 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.
| ICSH | PXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.60 | ||
| Sortino ratioReturn per unit of downside risk | +20.32 | ||
| Omega ratioGain probability vs. loss probability | 5.53 | 1.24 | +4.29 |
| Calmar ratioReturn relative to maximum drawdown | 42.01 | 2.53 | +39.48 |
| Martin ratioReturn relative to average drawdown | 237.20 | 6.90 | +230.30 |
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Drawdowns
ICSH vs. PXI - Drawdown Comparison
The maximum ICSH drawdown since its inception was -3.94%, smaller than the maximum PXI drawdown of -85.08%. Use the drawdown chart below to compare losses from any high point for ICSH and PXI.
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Drawdown Indicators
| ICSH | PXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -85.08% | +81.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -12.40% | +12.30% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -30.74% | +30.64% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | -33.47% | +32.74% |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | -79.55% | +75.61% |
Current DrawdownCurrent decline from peak | -0.01% | -8.12% | +8.11% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -29.33% | +29.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 4.54% | -4.52% |
Volatility
ICSH vs. PXI - Volatility Comparison
The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.16%, while Invesco DWA Energy Momentum ETF (PXI) has a volatility of 7.20%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than PXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICSH | PXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.16% | 7.20% | -7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.32% | 17.45% | -17.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 22.26% | -21.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.49% | 33.23% | -32.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 37.02% | -35.96% |
ICSH vs. PXI - Expense Ratio Comparison
ICSH has a 0.08% expense ratio, which is lower than PXI's 0.60% expense ratio.
Dividends
ICSH vs. PXI - Dividend Comparison
ICSH's dividend yield for the trailing twelve months is around 4.28%, more than PXI's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.28% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
PXI Invesco DWA Energy Momentum ETF | 1.30% | 1.81% | 1.52% | 1.82% | 3.14% | 0.57% | 1.72% | 2.80% | 0.93% | 0.80% | 0.73% | 2.07% |
Frequently Asked Questions
ICSH and PXI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PXI has higher volatility (7.20%) compared to ICSH (0.16%). In terms of maximum drawdown, ICSH dropped -3.94% vs PXI's -85.08%.
On 10-year performance, PXI leads with 5.39% vs 2.78% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH 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 10-year period, PXI has performed better with a 5.39% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.60% for PXI.
ICSH has the higher dividend yield at 4.28%, compared with 1.30% for PXI.
ICSH is categorized as Ultrashort Bond, while PXI is Momentum. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.08% for ICSH and 0.60% for PXI.
ICSH currently has the higher Sharpe Ratio (10.01 vs 1.41), 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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