MSTY vs. CSHP

Last updated Jun 4, 2026

MSTY (YieldMax™ MSTR Option Income Strategy ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - MSTY is a Derivative Income fund actively managed by YieldMax, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, MSTY returned -61.25% vs 3.96% for CSHP. At a 0.08 correlation, their price movements are largely independent. MSTY charges 0.99%/yr vs 0.20%/yr for CSHP.

Performance

MSTY vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax™ MSTR Option Income Strategy ETF (MSTY) 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, MSTY achieves a -14.73% return, which is significantly lower than CSHP's 1.63% return.

MSTY

• 1D: -6.76%
• 1M: -28.46%
• YTD: -14.73%
• 6M: -26.86%
• 1Y: -61.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.63%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTY vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTY YieldMax™ MSTR Option Income Strategy ETF	-14.73%	-42.71%	58.03%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	4.10%	2.24%

Correlation

The correlation between MSTY and CSHP is -0.05, 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	-0.05
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	0.08

The correlation between MSTY and CSHP shifts across timeframes, from -0.05 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSTY vs. CSHP — Risk / Return Rank

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

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 2

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.

MSTY vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax™ MSTR Option Income Strategy ETF (MSTY) 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.

	MSTY	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	11.91	-12.92
Sortino ratio: Return per unit of downside risk	-1.73	31.26	-32.99
Omega ratio: Gain probability vs. loss probability	0.81	7.44	-6.63
Calmar ratio: Return relative to maximum drawdown	-0.86	65.71	-66.56
Martin ratio: Return relative to average drawdown	-1.31	432.16	-433.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTY vs. CSHP - Sharpe Ratio Comparison

The current MSTY Sharpe Ratio is -1.02, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of MSTY 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

	MSTY	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	11.91	-12.92
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	10.75	-10.50

Drawdowns

MSTY vs. CSHP - Drawdown Comparison

The maximum MSTY drawdown since its inception was -71.79%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MSTY and CSHP.

Drawdown Indicators

	MSTY	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-71.79%	-0.08%	-71.71%
Max Drawdown (1Y) Largest decline over 1 year	-71.79%	-0.06%	-71.73%
Current Drawdown Current decline from peak	-66.48%	0.00%	-66.48%
Average Drawdown Average peak-to-trough decline	-26.09%	-0.00%	-26.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.87%	0.01%	+46.86%

Volatility

MSTY vs. CSHP - Volatility Comparison

YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a higher volatility of 17.01% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that MSTY'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

	MSTY	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.01%	0.07%	+16.94%
Volatility (6M) Calculated over the trailing 6-month period	48.79%	0.24%	+48.55%
Volatility (1Y) Calculated over the trailing 1-year period	60.44%	0.33%	+60.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.92%	0.40%	+71.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.92%	0.40%	+71.52%

MSTY vs. CSHP - Expense Ratio Comparison

MSTY has a 0.99% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

MSTY vs. CSHP - Dividend Comparison

MSTY's dividend yield for the trailing twelve months is around 269.45%, more than CSHP's 3.92% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%
MSTY YieldMax™ MSTR Option Income Strategy ETF	269.45%	294.61%	104.56%

Frequently Asked Questions

Can I hold both MSTY and CSHP in my portfolio?

MSTY and CSHP have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTY or CSHP?

MSTY has higher volatility (17.01%) compared to CSHP (0.07%). In terms of maximum drawdown, MSTY dropped -71.79% vs CSHP's -0.08%.

Which ETF is better, MSTY or CSHP?

On 1-year performance, CSHP leads with 3.96% vs -61.25% for MSTY. 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, MSTY or CSHP?

Over the 1-year period, CSHP has performed better with a 3.96% return vs -61.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTY or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 269.45%, compared with 3.92% for CSHP.

What is the main difference between MSTY and CSHP?

MSTY is categorized as Derivative Income, while CSHP is Ultrashort Bond. They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for MSTY and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs -1.02), 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.