OBOR vs. CSHP
OBOR (KraneShares MSCI One Belt One Road Index ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - OBOR is a Emerging Markets Equities fund tracking the MSCI Global China Infrastructure Exposure, while CSHP is a Ultrashort Bond fund actively managed by iShares. OBOR is passively managed, while CSHP is actively managed. Over the past year, OBOR returned 19.52% vs 3.96% for CSHP. At a correlation of -0.01, they often move in opposite directions. OBOR charges 0.79%/yr vs 0.20%/yr for CSHP.
Performance
OBOR vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, OBOR achieves a 1.68% return, which is significantly lower than CSHP's 1.86% return.
OBOR
- 1D
- -0.20%
- 1M
- -0.51%
- YTD
- 1.68%
- 6M
- 2.78%
- 1Y
- 19.52%
- 3Y*
- 10.35%
- 5Y*
- 1.51%
- 10Y*
- —
CSHP
- 1D
- -0.01%
- 1M
- 0.30%
- YTD
- 1.86%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OBOR vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
OBOR KraneShares MSCI One Belt One Road Index ETF | 1.68% | 27.86% | 0.06% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.86% | 4.10% | 2.24% |
Correlation
The correlation between OBOR and CSHP is -0.11, 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 | -0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | -0.01 |
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Return for Risk
OBOR vs. CSHP — Risk / Return Rank
OBOR
CSHP
OBOR vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI One Belt One Road Index ETF (OBOR) 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.
| OBOR | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.14 | ||
| Sortino ratioReturn per unit of downside risk | -26.79 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 6.67 | -5.47 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 65.84 | -64.49 |
| Martin ratioReturn relative to average drawdown | 3.83 | 395.75 | -391.92 |
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Drawdowns
OBOR vs. CSHP - Drawdown Comparison
The maximum OBOR drawdown since its inception was -41.54%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for OBOR and CSHP.
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Drawdown Indicators
| OBOR | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.54% | -0.08% | -41.46% |
Max Drawdown (1Y)Largest decline over 1 year | -13.38% | -0.06% | -13.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.00% | — | — |
Current DrawdownCurrent decline from peak | -10.29% | -0.01% | -10.28% |
Average DrawdownAverage peak-to-trough decline | -15.94% | -0.00% | -15.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 0.01% | +4.71% |
Volatility
OBOR vs. CSHP - Volatility Comparison
KraneShares MSCI One Belt One Road Index ETF (OBOR) has a higher volatility of 6.72% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.15%. This indicates that OBOR'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
| OBOR | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.72% | 0.15% | +6.57% |
Volatility (6M)Calculated over the trailing 6-month period | 14.71% | 0.27% | +14.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.73% | 0.36% | +16.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 0.41% | +15.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.55% | 0.41% | +18.14% |
OBOR vs. CSHP - Expense Ratio Comparison
OBOR has a 0.79% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
OBOR vs. CSHP - Dividend Comparison
OBOR's dividend yield for the trailing twelve months is around 1.91%, less than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OBOR KraneShares MSCI One Belt One Road Index ETF | 1.91% | 1.94% | 3.87% | 3.40% | 4.75% | 3.26% | 2.04% | 4.33% | 0.02% | 0.10% |
Frequently Asked Questions
OBOR and CSHP have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OBOR has higher volatility (6.72%) compared to CSHP (0.15%). In terms of maximum drawdown, OBOR dropped -41.54% vs CSHP's -0.08%.
On 1-year performance, OBOR leads with 19.52% 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 0.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, OBOR has performed better with a 19.52% return vs 3.96%. 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 0.79% for OBOR.
CSHP has the higher dividend yield at 3.91%, compared with 1.91% for OBOR.
OBOR is categorized as Emerging Markets Equities, while CSHP is Ultrashort Bond. They also come from different issuers: CICC and iShares. Their fees differ too: 0.79% for OBOR and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.22 vs 1.08), 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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