IMFL vs. CSHP
IMFL (Invesco International Developed Dynamic Multifactor ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - IMFL is a Global Equities fund tracking the FTSE Developed ex US Invesco Dynamic Multifactor Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. IMFL is passively managed, while CSHP is actively managed. Over the past year, IMFL returned 29.53% vs 3.94% for CSHP. At a 0.03 correlation, their price movements are largely independent. IMFL charges 0.34%/yr vs 0.20%/yr for CSHP.
Performance
IMFL vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, IMFL achieves a 14.49% return, which is significantly higher than CSHP's 1.83% return.
IMFL
- 1D
- -2.84%
- 1M
- -0.86%
- YTD
- 14.49%
- 6M
- 14.56%
- 1Y
- 29.53%
- 3Y*
- 16.29%
- 5Y*
- 8.35%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMFL vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IMFL Invesco International Developed Dynamic Multifactor ETF | 14.49% | 30.89% | -6.60% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between IMFL and CSHP is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.03 |
The correlation between IMFL and CSHP shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IMFL vs. CSHP — Risk / Return Rank
IMFL
CSHP
IMFL vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco International Developed Dynamic Multifactor ETF (IMFL) and iShares Enhanced Short-Term Bond Active ETF (CSHP). 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.
| IMFL | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.32 | ||
| Sortino ratioReturn per unit of downside risk | -25.17 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 6.46 | -5.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 65.45 | -62.93 |
| Martin ratioReturn relative to average drawdown | 8.82 | 381.67 | -372.85 |
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Drawdowns
IMFL vs. CSHP - Drawdown Comparison
The maximum IMFL drawdown since its inception was -33.26%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for IMFL and CSHP.
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Drawdown Indicators
| IMFL | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.26% | -0.08% | -33.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -0.06% | -11.71% |
Max Drawdown (3Y)Largest decline over 3 years | -13.52% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.26% | — | — |
Current DrawdownCurrent decline from peak | -3.35% | -0.04% | -3.31% |
Average DrawdownAverage peak-to-trough decline | -7.19% | -0.00% | -7.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 0.01% | +3.35% |
Volatility
IMFL vs. CSHP - Volatility Comparison
Invesco International Developed Dynamic Multifactor ETF (IMFL) has a higher volatility of 6.64% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that IMFL's price experiences larger fluctuations and is considered to be riskier than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMFL | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 0.16% | +6.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 0.27% | +14.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.75% | 0.36% | +16.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 0.41% | +15.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 0.41% | +15.72% |
IMFL vs. CSHP - Expense Ratio Comparison
IMFL has a 0.34% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
IMFL vs. CSHP - Dividend Comparison
IMFL's dividend yield for the trailing twelve months is around 2.96%, less than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% |
IMFL Invesco International Developed Dynamic Multifactor ETF | 2.96% | 2.88% | 3.56% | 3.85% | 3.35% | 3.94% |
Frequently Asked Questions
IMFL and CSHP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMFL has higher volatility (6.64%) compared to CSHP (0.16%). In terms of maximum drawdown, IMFL dropped -33.26% vs CSHP's -0.08%.
On 1-year performance, IMFL leads with 29.53% vs 3.94% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP 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 1-year period, IMFL has performed better with a 29.53% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSHP is cheaper with a 0.20% expense ratio, compared with 0.34% for IMFL.
CSHP has the higher dividend yield at 3.91%, compared with 2.96% for IMFL.
IMFL is categorized as Global Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.34% for IMFL and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.77), 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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