PCHI vs. CSHP
PCHI (Polen High Income ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - PCHI is a High Yield Bonds fund actively managed by Polen Capital, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, PCHI returned -2.38% vs 3.95% for CSHP. At a correlation of -0.14, they often move in opposite directions. PCHI charges 0.56%/yr vs 0.20%/yr for CSHP.
Performance
PCHI vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, PCHI achieves a -4.47% return, which is significantly lower than CSHP's 1.85% return.
PCHI
- 1D
- -5.60%
- 1M
- -5.53%
- YTD
- -4.47%
- 6M
- -4.18%
- 1Y
- -2.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- 0.00%
- 1M
- 0.28%
- YTD
- 1.85%
- 6M
- 1.88%
- 1Y
- 3.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PCHI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PCHI Polen High Income ETF | -4.47% | 5.19% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.85% | 3.17% |
Correlation
The correlation between PCHI and CSHP is -0.17, 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 | -0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025 | -0.14 |
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Return for Risk
PCHI vs. CSHP — Risk / Return Rank
PCHI
CSHP
PCHI vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Polen High Income ETF (PCHI) 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.
| PCHI | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.24 | ||
| Sortino ratioReturn per unit of downside risk | -26.88 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 6.17 | -5.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 49.33 | -49.70 |
| Martin ratioReturn relative to average drawdown | -2.21 | 337.51 | -339.71 |
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Drawdowns
PCHI vs. CSHP - Drawdown Comparison
The maximum PCHI drawdown since its inception was -6.41%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for PCHI and CSHP.
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Drawdown Indicators
| PCHI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.41% | -0.08% | -6.33% |
Max Drawdown (1Y)Largest decline over 1 year | -6.41% | -0.08% | -6.33% |
Current DrawdownCurrent decline from peak | -6.41% | -0.02% | -6.39% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -0.00% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.01% | +1.07% |
Volatility
PCHI vs. CSHP - Volatility Comparison
Polen High Income ETF (PCHI) has a higher volatility of 6.12% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.17%. This indicates that PCHI'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
| PCHI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | 0.17% | +5.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.81% | 0.27% | +6.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.45% | 0.36% | +7.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.34% | 0.41% | +6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.34% | 0.41% | +6.93% |
PCHI vs. CSHP - Expense Ratio Comparison
PCHI has a 0.56% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
PCHI vs. CSHP - Dividend Comparison
PCHI's dividend yield for the trailing twelve months is around 8.47%, 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% |
PCHI Polen High Income ETF | 8.47% | 5.62% | 0.00% |
Frequently Asked Questions
PCHI and CSHP have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCHI has higher volatility (6.12%) compared to CSHP (0.17%). In terms of maximum drawdown, PCHI dropped -6.41% vs CSHP's -0.08%.
On 1-year performance, CSHP leads with 3.95% vs -2.38% for PCHI. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.17%. 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 3.95% return vs -2.38%. 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 0.56% for PCHI.
PCHI has the higher dividend yield at 8.47%, compared with 3.91% for CSHP.
PCHI is categorized as High Yield Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Polen Capital and iShares. Their fees differ too: 0.56% for PCHI and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (10.91 vs -0.32), 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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