JULH vs. CSHP

Last updated Jun 23, 2026

JULH (Innovator Premium Income 20 Barrier ETF - July) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - JULH is a Options Trading fund actively managed by Innovator, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, JULH returned 5.09% vs 3.96% for CSHP. At a 0.04 correlation, their price movements are largely independent. JULH charges 0.79%/yr vs 0.20%/yr for CSHP.

Performance

JULH vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - July (JULH) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULH achieves a 2.40% return, which is significantly higher than CSHP's 1.86% return.

JULH

• 1D: 0.02%
• 1M: 0.26%
• YTD: 2.40%
• 6M: 0.84%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.01%
• 1M: 0.30%
• YTD: 1.86%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JULH vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JULH Innovator Premium Income 20 Barrier ETF - July	2.40%	5.39%	3.31%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.86%	4.10%	2.24%

Correlation

The correlation between JULH and CSHP is -0.07, 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	-0.07
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.04

The correlation between JULH and CSHP shifts across timeframes, from -0.07 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JULH vs. CSHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JULH

JULH Risk / Return Rank: 59
JULH Sharpe Ratio Rank: 56
JULH Sortino Ratio Rank: 49
JULH Omega Ratio Rank: 82
JULH Calmar Ratio Rank: 62
JULH Martin Ratio Rank: 46

CSHP

CSHP Risk / Return Rank: 99
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 99
CSHP Omega Ratio Rank: 99
CSHP Calmar Ratio Rank: 100
CSHP Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JULH vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - July (JULH) 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.

	JULH	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.83	11.22	-9.39
Sortino ratio: Return per unit of downside risk	2.33	28.31	-25.98
Omega ratio: Gain probability vs. loss probability	1.47	6.67	-5.20
Calmar ratio: Return relative to maximum drawdown	2.97	65.84	-62.88
Martin ratio: Return relative to average drawdown	7.51	395.75	-388.24

JULH vs. CSHP - Sharpe Ratio Comparison

The current JULH Sharpe Ratio is 1.83, which is lower than the CSHP Sharpe Ratio of 11.22. The chart below compares the historical Sharpe Ratios of JULH and CSHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JULH vs. CSHP - Drawdown Comparison

The maximum JULH drawdown since its inception was -5.51%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for JULH and CSHP.

Drawdown Indicators

	JULH	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-0.08%	-5.43%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-0.06%	-1.66%
Current Drawdown Current decline from peak	0.00%	-0.01%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.00%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.01%	+0.67%

Volatility

JULH vs. CSHP - Volatility Comparison

The current volatility for Innovator Premium Income 20 Barrier ETF - July (JULH) is 0.09%, while iShares Enhanced Short-Term Bond Active ETF (CSHP) has a volatility of 0.15%. This indicates that JULH experiences smaller price fluctuations and is considered to be less risky than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULH	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.15%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	0.27%	+1.97%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	0.36%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	0.41%	+4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	0.41%	+4.31%

JULH vs. CSHP - Expense Ratio Comparison

JULH has a 0.79% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

JULH vs. CSHP - Dividend Comparison

JULH's dividend yield for the trailing twelve months is around 5.27%, more than CSHP's 3.91% yield.

Position	TTM	2025	2024	2023
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%	0.00%
JULH Innovator Premium Income 20 Barrier ETF - July	5.27%	5.31%	6.89%	3.67%

Frequently Asked Questions

Can I hold both JULH and CSHP in my portfolio?

JULH and CSHP have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULH or CSHP?

CSHP has higher volatility (0.15%) compared to JULH (0.09%). In terms of maximum drawdown, JULH dropped -5.51% vs CSHP's -0.08%.

Which ETF is better, JULH or CSHP?

On 1-year performance, JULH leads with 5.09% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULH or CSHP?

Over the 1-year period, JULH has performed better with a 5.09% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULH or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.79% for JULH.

Which ETF pays a higher dividend yield, JULH or CSHP?

JULH has the higher dividend yield at 5.27%, compared with 3.91% for CSHP.

What is the main difference between JULH and CSHP?

JULH is categorized as Options Trading, while CSHP is Ultrashort Bond. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for JULH and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.22 vs 1.83), 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.