MJ vs. CSHP

Last updated Jun 3, 2026

MJ (ETFMG Alternative Harvest ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - MJ is a Small Cap Blend Equities fund tracking the Prime Alternative Harvest Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. MJ is passively managed, while CSHP is actively managed. Over the past year, MJ returned 45.84% vs 3.96% for CSHP. At a correlation of -0.02, they often move in opposite directions. MJ charges 0.75%/yr vs 0.20%/yr for CSHP.

Performance

MJ vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) 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, MJ achieves a -11.18% return, which is significantly lower than CSHP's 1.62% return.

MJ

• 1D: -1.49%
• 1M: -3.54%
• YTD: -11.18%
• 6M: 4.84%
• 1Y: 45.84%
• 3Y*: -6.84%
• 5Y*: -35.08%
• 10Y*: —

CSHP

• 1D: -0.01%
• 1M: 0.28%
• YTD: 1.62%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MJ vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MJ ETFMG Alternative Harvest ETF	-11.18%	13.07%	-35.24%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.62%	4.10%	2.24%

Correlation

The correlation between MJ and CSHP is -0.15, 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	-0.15
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	-0.02

The correlation between MJ and CSHP shifts across timeframes, from -0.15 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

MJ vs. CSHP - Sectors Allocation Comparison

Sectors	MJ	CSHP
Healthcare	76.5%	-
Consumer Defensive	18.6%	-
Real Estate	3.0%	-
Consumer Cyclical	0.9%	-
Technology	0.6%	-
Financial Services	0.3%	0.1%
Basic Materials	-	-
Communication Services	-	-
Energy	-	-
Industrials	-	-
Utilities	-	-

Return for Risk

MJ vs. CSHP — Risk / Return Rank

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

MJ

MJ Risk / Return Rank: 22
MJ Sharpe Ratio Rank: 17
MJ Sortino Ratio Rank: 29
MJ Omega Ratio Rank: 27
MJ Calmar Ratio Rank: 20
MJ Martin Ratio Rank: 16

CSHP

CSHP Risk / Return Rank: 100
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 100
CSHP Omega Ratio Rank: 100
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.

MJ vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) 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.

	MJ	CSHP	Difference
Sharpe ratio Return per unit of total volatility	0.53	11.92	-11.39
Sortino ratio Return per unit of downside risk	1.59	31.30	-29.71
Omega ratio Gain probability vs. loss probability	1.18	7.45	-6.26
Calmar ratio Return relative to maximum drawdown	0.89	65.71	-64.81
Martin ratio Return relative to average drawdown	1.61	433.00	-431.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MJ vs. CSHP - Sharpe Ratio Comparison

The current MJ Sharpe Ratio is 0.53, which is lower than the CSHP Sharpe Ratio of 11.92. The chart below compares the historical Sharpe Ratios of MJ 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.

Sharpe Ratios by Period

	MJ	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	11.92	-11.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	10.74	-11.22

Drawdowns

MJ vs. CSHP - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MJ and CSHP.

Drawdown Indicators

	MJ	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-0.08%	-96.47%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	-0.06%	-48.60%
Max Drawdown (3Y) Largest decline over 3 years	-69.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-93.27%	—	—
Current Drawdown Current decline from peak	-94.27%	-0.01%	-94.26%
Average Drawdown Average peak-to-trough decline	-69.19%	-0.00%	-69.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.97%	0.01%	+26.96%

Volatility

MJ vs. CSHP - Volatility Comparison

ETFMG Alternative Harvest ETF (MJ) has a higher volatility of 11.59% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that MJ'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

	MJ	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	0.07%	+11.52%
Volatility (6M) Calculated over the trailing 6-month period	59.67%	0.24%	+59.43%
Volatility (1Y) Calculated over the trailing 1-year period	86.65%	0.33%	+86.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.87%	0.40%	+59.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.74%	0.40%	+55.34%

MJ vs. CSHP - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

MJ vs. CSHP - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.23%, less than CSHP's 3.92% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%
MJ ETFMG Alternative Harvest ETF	2.23%	1.98%	13.80%

Frequently Asked Questions

Can I hold both MJ and CSHP in my portfolio?

MJ and CSHP have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MJ or CSHP?

MJ has higher volatility (11.59%) compared to CSHP (0.07%). In terms of maximum drawdown, MJ dropped -96.55% vs CSHP's -0.08%.

Which ETF is better, MJ or CSHP?

On 1-year performance, MJ leads with 45.84% vs 3.96% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MJ or CSHP?

Over the 1-year period, MJ has performed better with a 45.84% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MJ or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.75% for MJ.

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

CSHP has the higher dividend yield at 3.92%, compared with 2.23% for MJ.

What is the main difference between MJ and CSHP?

MJ is categorized as Small Cap Blend Equities, while CSHP is Ultrashort Bond. They also come from different issuers: ETFMG and iShares. Their fees differ too: 0.75% for MJ and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.92 vs 0.53), 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.