NCIQ vs. CSHP
NCIQ (Hashdex Nasdaq Crypto Index US ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - NCIQ is a Cryptocurrency fund tracking the Nasdaq Crypto US Settlement Price™ Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. NCIQ is passively managed, while CSHP is actively managed. Over the past year, NCIQ returned -48.51% vs 3.66% for CSHP. At a correlation of -0.00, they often move in opposite directions. NCIQ charges 0.25%/yr vs 0.20%/yr for CSHP.
Performance
NCIQ vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, NCIQ achieves a -29.61% return, which is significantly lower than CSHP's 1.84% return.
NCIQ
- 1D
- -1.36%
- 1M
- -1.84%
- 6M
- -35.87%
- YTD
- -29.61%
- 1Y
- -48.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.32%
- 1M
- 0.11%
- 6M
- 1.73%
- YTD
- 1.84%
- 1Y
- 3.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NCIQ vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NCIQ Hashdex Nasdaq Crypto Index US ETF | -29.61% | -13.57% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.84% | 3.58% |
Correlation
The correlation between NCIQ and CSHP is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.00 |
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Return for Risk
NCIQ vs. CSHP — Risk / Return Rank
NCIQ
CSHP
NCIQ vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hashdex Nasdaq Crypto Index US ETF (NCIQ) 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.
| NCIQ | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.59 | ||
| Sortino ratioReturn per unit of downside risk | -9.31 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 3.37 | -2.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 11.37 | -12.22 |
| Martin ratioReturn relative to average drawdown | -1.35 | 118.25 | -119.60 |
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Drawdowns
NCIQ vs. CSHP - Drawdown Comparison
The maximum NCIQ drawdown since its inception was -57.05%, which is greater than CSHP's maximum drawdown of -0.32%. Use the drawdown chart below to compare losses from any high point for NCIQ and CSHP.
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Drawdown Indicators
| NCIQ | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.05% | -0.32% | -56.73% |
Max Drawdown (1Y)Largest decline over 1 year | -57.05% | -0.32% | -56.73% |
Current DrawdownCurrent decline from peak | -52.93% | -0.32% | -52.61% |
Average DrawdownAverage peak-to-trough decline | -24.81% | -0.01% | -24.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.99% | 0.03% | +35.96% |
Volatility
NCIQ vs. CSHP - Volatility Comparison
Hashdex Nasdaq Crypto Index US ETF (NCIQ) has a higher volatility of 11.10% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.58%. This indicates that NCIQ'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
| NCIQ | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.10% | 0.58% | +10.52% |
Volatility (6M)Calculated over the trailing 6-month period | 36.90% | 0.62% | +36.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.06% | 0.66% | +47.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.71% | 0.57% | +47.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.71% | 0.57% | +47.14% |
NCIQ vs. CSHP - Expense Ratio Comparison
NCIQ has a 0.25% expense ratio, which is higher than CSHP's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NCIQ vs. CSHP - Dividend Comparison
NCIQ has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 4.02%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 4.02% | 5.39% | 1.96% |
NCIQ Hashdex Nasdaq Crypto Index US ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NCIQ and CSHP have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NCIQ has higher volatility (11.10%) compared to CSHP (0.58%). In terms of maximum drawdown, NCIQ dropped -57.05% vs CSHP's -0.32%.
On 1-year performance, CSHP leads with 3.66% vs -48.51% for NCIQ. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.58%. 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 3.66% return vs -48.51%. 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 0.25% for NCIQ.
CSHP has the higher dividend yield at 4.02%, compared with 0.00% for NCIQ.
NCIQ is categorized as Cryptocurrency, while CSHP is Ultrashort Bond. They also come from different issuers: Hashdex and iShares. Their fees differ too: 0.25% for NCIQ and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (5.58 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.
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