ICSH vs. XME
ICSH (iShares Ultra Short Duration Bond Active ETF) and XME (SPDR S&P Metals & Mining ETF) are both exchange-traded funds - ICSH is a Ultrashort Bond fund actively managed by iShares, while XME is a Materials fund tracking the S&P Metals & Mining Select Industry Index. ICSH is actively managed, while XME is passively managed. Over the past 10 years, ICSH returned 2.79%/yr vs 19.14%/yr for XME. At a 0.04 correlation, their price movements are largely independent. ICSH charges 0.08%/yr vs 0.35%/yr for XME.
Performance
ICSH vs. XME - Performance Comparison
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Returns By Period
In the year-to-date period, ICSH achieves a 1.57% return, which is significantly lower than XME's 16.50% return. Over the past 10 years, ICSH has underperformed XME with an annualized return of 2.79%, while XME has yielded a comparatively higher 19.14% annualized return.
ICSH
- 1D
- 0.04%
- 1M
- 0.36%
- YTD
- 1.57%
- 6M
- 1.81%
- 1Y
- 4.36%
- 3Y*
- 5.16%
- 5Y*
- 3.70%
- 10Y*
- 2.79%
XME
- 1D
- 0.16%
- 1M
- 4.36%
- YTD
- 16.50%
- 6M
- 19.83%
- 1Y
- 85.37%
- 3Y*
- 35.28%
- 5Y*
- 22.93%
- 10Y*
- 19.14%
ICSH vs. XME - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 1.57% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
XME SPDR S&P Metals & Mining ETF | 16.50% | 83.47% | -4.54% | 21.51% | 13.13% | 34.92% | 15.95% | 14.69% | -26.78% | 21.17% |
Correlation
The correlation between ICSH and XME is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013 | 0.04 |
The correlation between ICSH and XME shifts across timeframes, from 0.04 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ICSH vs. XME — Risk / Return Rank
ICSH
XME
ICSH vs. XME - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and SPDR S&P Metals & Mining ETF (XME). 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 | XME | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.70 | ||
| Sortino ratioReturn per unit of downside risk | +24.91 | ||
| Omega ratioGain probability vs. loss probability | 6.64 | 1.37 | +5.27 |
| Calmar ratioReturn relative to maximum drawdown | 44.30 | 3.80 | +40.50 |
| Martin ratioReturn relative to average drawdown | 292.98 | 9.44 | +283.54 |
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Drawdowns
ICSH vs. XME - Drawdown Comparison
The maximum ICSH drawdown since its inception was -3.94%, smaller than the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for ICSH and XME.
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Drawdown Indicators
| ICSH | XME | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -85.89% | +81.95% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -22.60% | +22.50% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -30.47% | +30.37% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | -37.27% | +36.54% |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | -61.69% | +57.75% |
Current DrawdownCurrent decline from peak | 0.00% | -9.18% | +9.18% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -44.08% | +44.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 9.07% | -9.06% |
Volatility
ICSH vs. XME - Volatility Comparison
The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.13%, while SPDR S&P Metals & Mining ETF (XME) has a volatility of 15.14%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICSH | XME | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 15.14% | -15.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 28.15% | -27.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.40% | 36.17% | -35.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.48% | 32.83% | -32.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 32.93% | -31.87% |
ICSH vs. XME - Expense Ratio Comparison
ICSH has a 0.08% expense ratio, which is lower than XME's 0.35% expense ratio.
Dividends
ICSH vs. XME - Dividend Comparison
ICSH's dividend yield for the trailing twelve months is around 4.33%, more than XME's 0.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.33% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
XME SPDR S&P Metals & Mining ETF | 0.32% | 0.38% | 0.65% | 1.00% | 1.64% | 0.70% | 0.99% | 2.43% | 2.23% | 1.15% | 1.02% | 2.61% |
Frequently Asked Questions
ICSH and XME have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XME has higher volatility (15.14%) compared to ICSH (0.13%). In terms of maximum drawdown, ICSH dropped -3.94% vs XME's -85.89%.
On 10-year performance, XME leads with 19.14% vs 2.79% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XME has performed better with a 19.14% return vs 2.79%. 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 0.35% for XME.
ICSH has the higher dividend yield at 4.33%, compared with 0.32% for XME.
ICSH is categorized as Ultrashort Bond, while XME is Materials. They also come from different issuers: iShares and State Street. Their fees differ too: 0.08% for ICSH and 0.35% for XME.
ICSH currently has the higher Sharpe Ratio (11.08 vs 2.38), 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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