ICSH vs. XONE
ICSH (iShares Ultra Short Duration Bond Active ETF) and XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) are both exchange-traded funds - ICSH is a Ultrashort Bond fund tracking the ICE BofA US 6-Month Treasury Bill Index (USD), while XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index. Both are passively managed. Over the past 3 years, ICSH returned 5.20%/yr vs 4.57%/yr for XONE. A 0.56 correlation means they provide meaningful diversification when combined. ICSH charges 0.08%/yr vs 0.03%/yr for XONE.
Performance
ICSH vs. XONE - Performance Comparison
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Returns By Period
In the year-to-date period, ICSH achieves a 1.45% return, which is significantly higher than XONE's 1.11% return.
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%
XONE
- 1D
- -0.02%
- 1M
- 0.24%
- YTD
- 1.11%
- 6M
- 1.47%
- 1Y
- 3.85%
- 3Y*
- 4.57%
- 5Y*
- —
- 10Y*
- —
ICSH vs. XONE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 1.45% | 4.96% | 5.52% | 5.58% | 1.04% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.11% | 4.41% | 4.83% | 4.74% | 0.60% |
Correlation
The correlation between ICSH and XONE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.56 |
The correlation between ICSH and XONE has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.
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Return for Risk
ICSH vs. XONE — Risk / Return Rank
ICSH
XONE
ICSH vs. XONE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE). 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 | XONE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.16 | ||
| Sortino ratioReturn per unit of downside risk | +11.51 | ||
| Omega ratioGain probability vs. loss probability | 6.79 | 3.57 | +3.22 |
| Calmar ratioReturn relative to maximum drawdown | 44.30 | 24.16 | +20.14 |
| Martin ratioReturn relative to average drawdown | 297.17 | 138.74 | +158.43 |
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 | XONE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.22 | 7.06 | +4.16 |
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 | 4.96 | -3.02 |
Drawdowns
ICSH vs. XONE - Drawdown Comparison
The maximum ICSH drawdown since its inception was -3.94%, which is greater than XONE's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for ICSH and XONE.
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Drawdown Indicators
| ICSH | XONE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -0.40% | -3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.10% | -0.16% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.10% | -0.28% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -0.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -0.04% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.03% | -0.02% |
Volatility
ICSH vs. XONE - Volatility Comparison
iShares Ultra Short Duration Bond Active ETF (ICSH) has a higher volatility of 0.15% compared to BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) at 0.10%. This indicates that ICSH's price experiences larger fluctuations and is considered to be riskier than XONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICSH | XONE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.15% | 0.10% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 0.34% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.39% | 0.55% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.48% | 0.86% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.06% | 0.86% | +0.20% |
ICSH vs. XONE - Expense Ratio Comparison
ICSH has a 0.08% expense ratio, which is higher than XONE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ICSH vs. XONE - Dividend Comparison
ICSH's dividend yield for the trailing twelve months is around 4.34%, more than XONE's 4.06% 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% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ICSH and XONE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICSH has higher volatility (0.15%) compared to XONE (0.10%). In terms of maximum drawdown, ICSH dropped -3.94% vs XONE's -0.40%.
On 3-year performance, ICSH leads with 5.20% vs 4.57% for XONE. On fees, XONE is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ICSH has performed better with a 5.20% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE is cheaper with a 0.03% expense ratio, compared with 0.08% for ICSH.
ICSH has the higher dividend yield at 4.34%, compared with 4.06% for XONE.
ICSH is categorized as Ultrashort Bond, while XONE is Government Bonds. ICSH tracks ICE BofA US 6-Month Treasury Bill Index (USD), while XONE tracks Bloomberg US Treasury 1 Year Target Duration Index. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.08% for ICSH and 0.03% for XONE.
ICSH currently has the higher Sharpe Ratio (11.22 vs 7.06), 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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