PQDI vs. CSHP
PQDI (Principal Spectrum Preferred and Income ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. PQDI is passively managed, while CSHP is actively managed. Over the past year, PQDI returned 6.43% vs 3.94% for CSHP. At a correlation of -0.04, they often move in opposite directions. PQDI charges 0.60%/yr vs 0.20%/yr for CSHP.
Performance
PQDI vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, PQDI achieves a 1.39% return, which is significantly lower than CSHP's 1.83% return.
PQDI
- 1D
- -0.11%
- 1M
- 0.48%
- YTD
- 1.39%
- 6M
- 1.47%
- 1Y
- 6.43%
- 3Y*
- 9.15%
- 5Y*
- 3.17%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PQDI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PQDI Principal Spectrum Preferred and Income ETF | 1.39% | 8.46% | 3.60% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between PQDI 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 Jul 18, 2024 | -0.04 |
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Return for Risk
PQDI vs. CSHP — Risk / Return Rank
PQDI
CSHP
PQDI vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) 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.
| PQDI | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.11 | ||
| Sortino ratioReturn per unit of downside risk | -24.71 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 6.46 | -5.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 65.45 | -63.50 |
| Martin ratioReturn relative to average drawdown | 8.62 | 381.67 | -373.05 |
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Drawdowns
PQDI vs. CSHP - Drawdown Comparison
The maximum PQDI drawdown since its inception was -17.41%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for PQDI and CSHP.
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Drawdown Indicators
| PQDI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.41% | -0.08% | -17.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -0.06% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.41% | — | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.04% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -0.00% | -3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.01% | +0.74% |
Volatility
PQDI vs. CSHP - Volatility Comparison
Principal Spectrum Preferred and Income ETF (PQDI) has a higher volatility of 0.89% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that PQDI'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
| PQDI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.16% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 0.27% | +2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.27% | 0.36% | +2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 0.41% | +4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 0.41% | +4.13% |
PQDI vs. CSHP - Expense Ratio Comparison
PQDI has a 0.60% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
PQDI vs. CSHP - Dividend Comparison
PQDI's dividend yield for the trailing twelve months is around 5.45%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% |
PQDI Principal Spectrum Preferred and Income ETF | 5.45% | 5.02% | 4.93% | 5.35% | 5.60% | 5.21% | 2.69% |
Frequently Asked Questions
PQDI 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.
PQDI has higher volatility (0.89%) compared to CSHP (0.16%). In terms of maximum drawdown, PQDI dropped -17.41% vs CSHP's -0.08%.
On 1-year performance, PQDI leads with 6.43% vs 3.94% for CSHP. 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, PQDI has performed better with a 6.43% return vs 3.94%. 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 0.60% for PQDI.
PQDI has the higher dividend yield at 5.45%, compared with 3.91% for CSHP.
PQDI is categorized as Preferred Stock/Convertible Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Principal and iShares. Their fees differ too: 0.60% for PQDI and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.97), 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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