LRND vs. CSHP

Last updated Jun 23, 2026

LRND (IQ U.S. Large Cap R&D Leaders ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - LRND is a Large Cap Blend Equities fund tracking the IQ U.S. Large Cap R&D Leaders Index - Benchmark TR Gross, while CSHP is a Ultrashort Bond fund actively managed by iShares. LRND is passively managed, while CSHP is actively managed. Over the past year, LRND returned 27.35% vs 3.96% for CSHP. At a 0.02 correlation, their price movements are largely independent. LRND charges 0.14%/yr vs 0.20%/yr for CSHP.

Performance

LRND vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ U.S. Large Cap R&D Leaders ETF (LRND) 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, LRND achieves a 7.55% return, which is significantly higher than CSHP's 1.86% return.

LRND

• 1D: -1.34%
• 1M: -2.17%
• YTD: 7.55%
• 6M: 7.49%
• 1Y: 27.35%
• 3Y*: 21.07%
• 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)

LRND vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LRND IQ U.S. Large Cap R&D Leaders ETF	7.55%	20.31%	2.95%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.86%	4.10%	2.24%

Correlation

The correlation between LRND and CSHP is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	0.02

The correlation between LRND and CSHP shifts across timeframes, from -0.14 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LRND vs. CSHP — Risk / Return Rank

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

LRND

LRND Risk / Return Rank: 47
LRND Sharpe Ratio Rank: 51
LRND Sortino Ratio Rank: 49
LRND Omega Ratio Rank: 48
LRND Calmar Ratio Rank: 41
LRND Martin Ratio Rank: 47

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.

LRND vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ U.S. Large Cap R&D Leaders ETF (LRND) 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.

	LRND	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.71	11.22	-9.51
Sortino ratio: Return per unit of downside risk	2.34	28.31	-25.97
Omega ratio: Gain probability vs. loss probability	1.30	6.67	-5.37
Calmar ratio: Return relative to maximum drawdown	1.99	65.84	-63.86
Martin ratio: Return relative to average drawdown	7.63	395.75	-388.13

LRND vs. CSHP - Sharpe Ratio Comparison

The current LRND Sharpe Ratio is 1.71, which is lower than the CSHP Sharpe Ratio of 11.22. The chart below compares the historical Sharpe Ratios of LRND 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

LRND vs. CSHP - Drawdown Comparison

The maximum LRND drawdown since its inception was -25.43%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for LRND and CSHP.

Drawdown Indicators

	LRND	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-0.08%	-25.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.83%	-0.06%	-13.77%
Max Drawdown (3Y) Largest decline over 3 years	-21.06%	—	—
Current Drawdown Current decline from peak	-5.07%	-0.01%	-5.06%
Average Drawdown Average peak-to-trough decline	-6.22%	-0.00%	-6.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	0.01%	+3.59%

Volatility

LRND vs. CSHP - Volatility Comparison

IQ U.S. Large Cap R&D Leaders ETF (LRND) has a higher volatility of 6.18% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.15%. This indicates that LRND'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.

Volatility by Period

	LRND	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	0.15%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	12.89%	0.27%	+12.62%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	0.36%	+15.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.05%	0.41%	+19.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.05%	0.41%	+19.64%

LRND vs. CSHP - Expense Ratio Comparison

LRND has a 0.14% expense ratio, which is lower than CSHP's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LRND vs. CSHP - Dividend Comparison

LRND's dividend yield for the trailing twelve months is around 0.51%, less than CSHP's 3.91% yield.

Position	TTM	2025	2024	2023	2022
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%	0.00%	0.00%
LRND IQ U.S. Large Cap R&D Leaders ETF	0.51%	0.67%	0.97%	1.22%	1.32%

Frequently Asked Questions

Can I hold both LRND and CSHP in my portfolio?

LRND and CSHP have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LRND or CSHP?

LRND has higher volatility (6.18%) compared to CSHP (0.15%). In terms of maximum drawdown, LRND dropped -25.43% vs CSHP's -0.08%.

Which ETF is better, LRND or CSHP?

On 1-year performance, LRND leads with 27.35% vs 3.96% for CSHP. On fees, LRND is cheaper at 0.14% per year. On volatility, CSHP has been the lower-risk option at 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LRND or CSHP?

Over the 1-year period, LRND has performed better with a 27.35% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LRND or CSHP?

LRND is cheaper with a 0.14% expense ratio, compared with 0.20% for CSHP.

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

CSHP has the higher dividend yield at 3.91%, compared with 0.51% for LRND.

What is the main difference between LRND and CSHP?

LRND is categorized as Large Cap Blend Equities, while CSHP is Ultrashort Bond. They also come from different issuers: IndexIQ and iShares. Their fees differ too: 0.14% for LRND and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.22 vs 1.71), 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.