MST vs. CSHP
MST (Defiance Leveraged Long Income MSTR ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - MST is a Derivative Income fund actively managed by Defiance, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, MST returned -94.85% vs 3.94% for CSHP. At a correlation of -0.07, they often move in opposite directions. MST charges 1.31%/yr vs 0.20%/yr for CSHP.
Performance
MST vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, MST achieves a -64.78% return, which is significantly lower than CSHP's 1.83% return.
MST
- 1D
- -9.27%
- 1M
- -57.88%
- YTD
- -64.78%
- 6M
- -66.93%
- 1Y
- -94.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MST vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MST Defiance Leveraged Long Income MSTR ETF | -64.78% | -87.60% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 2.72% |
Correlation
The correlation between MST 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 May 2, 2025 | -0.07 |
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Return for Risk
MST vs. CSHP — Risk / Return Rank
MST
CSHP
MST vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Leveraged Long Income MSTR ETF (MST) 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.
| MST | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.82 | ||
| Sortino ratioReturn per unit of downside risk | -29.83 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 6.46 | -5.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 65.45 | -66.44 |
| Martin ratioReturn relative to average drawdown | -1.26 | 381.67 | -382.93 |
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Drawdowns
MST vs. CSHP - Drawdown Comparison
The maximum MST drawdown since its inception was -96.24%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MST and CSHP.
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Drawdown Indicators
| MST | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.24% | -0.08% | -96.16% |
Max Drawdown (1Y)Largest decline over 1 year | -96.24% | -0.06% | -96.18% |
Current DrawdownCurrent decline from peak | -96.24% | -0.04% | -96.20% |
Average DrawdownAverage peak-to-trough decline | -63.50% | -0.00% | -63.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.46% | 0.01% | +75.45% |
Volatility
MST vs. CSHP - Volatility Comparison
Defiance Leveraged Long Income MSTR ETF (MST) has a higher volatility of 40.51% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that MST'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
| MST | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.51% | 0.16% | +40.35% |
Volatility (6M)Calculated over the trailing 6-month period | 103.49% | 0.27% | +103.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 129.73% | 0.36% | +129.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 124.35% | 0.41% | +123.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 124.35% | 0.41% | +123.94% |
MST vs. CSHP - Expense Ratio Comparison
MST has a 1.31% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
MST vs. CSHP - Dividend Comparison
MST's dividend yield for the trailing twelve months is around 1,159.04%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% |
MST Defiance Leveraged Long Income MSTR ETF | 1,159.04% | 381.22% | 0.00% |
Frequently Asked Questions
MST 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.
MST has higher volatility (40.51%) compared to CSHP (0.16%). In terms of maximum drawdown, MST dropped -96.24% vs CSHP's -0.08%.
On 1-year performance, CSHP leads with 3.94% vs -94.85% for MST. 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, CSHP has performed better with a 3.94% return vs -94.85%. 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 1.31% for MST.
MST has the higher dividend yield at 1159.04%, compared with 3.91% for CSHP.
MST is categorized as Derivative Income, while CSHP is Ultrashort Bond. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.31% for MST and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs -0.73), 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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