PYPG vs. CSHP
PYPG (Leverage Shares 2X Long PYPL Daily ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - PYPG is a Leveraged Equities fund actively managed by Leverage Shares, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, PYPG returned -68.72% vs 3.94% for CSHP. At a correlation of -0.08, they often move in opposite directions. PYPG charges 0.75%/yr vs 0.20%/yr for CSHP.
Performance
PYPG vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, PYPG achieves a -47.49% return, which is significantly lower than CSHP's 2.09% return.
PYPG
- 1D
- 4.37%
- 1M
- 21.97%
- 6M
- -45.84%
- YTD
- -47.49%
- 1Y
- -68.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.02%
- 1M
- 0.38%
- 6M
- 1.98%
- YTD
- 2.09%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PYPG vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PYPG Leverage Shares 2X Long PYPL Daily ETF | -47.49% | -20.19% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 2.09% | 3.06% |
Correlation
The correlation between PYPG and CSHP is -0.08, 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 | -0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025 | -0.08 |
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Return for Risk
PYPG vs. CSHP — Risk / Return Rank
PYPG
CSHP
PYPG vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long PYPL Daily ETF (PYPG) 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.
| PYPG | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.20 | ||
| Sortino ratioReturn per unit of downside risk | -16.75 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 4.94 | -4.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 19.49 | -20.41 |
| Martin ratioReturn relative to average drawdown | -1.30 | 224.95 | -226.25 |
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Drawdowns
PYPG vs. CSHP - Drawdown Comparison
The maximum PYPG drawdown since its inception was -79.52%, which is greater than CSHP's maximum drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for PYPG and CSHP.
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Drawdown Indicators
| PYPG | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.52% | -0.21% | -79.31% |
Max Drawdown (1Y)Largest decline over 1 year | -79.52% | -0.21% | -79.31% |
Current DrawdownCurrent decline from peak | -73.76% | -0.02% | -73.74% |
Average DrawdownAverage peak-to-trough decline | -40.98% | -0.01% | -40.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.67% | 0.02% | +55.65% |
Volatility
PYPG vs. CSHP - Volatility Comparison
Leverage Shares 2X Long PYPL Daily ETF (PYPG) has a higher volatility of 19.71% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.37%. This indicates that PYPG'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
| PYPG | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.71% | 0.37% | +19.34% |
Volatility (6M)Calculated over the trailing 6-month period | 70.71% | 0.43% | +70.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.81% | 0.48% | +78.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.67% | 0.47% | +77.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.67% | 0.47% | +77.20% |
PYPG vs. CSHP - Expense Ratio Comparison
PYPG has a 0.75% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
PYPG vs. CSHP - Dividend Comparison
PYPG has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 4.01%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 4.01% | 5.39% | 1.96% |
PYPG Leverage Shares 2X Long PYPL Daily ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PYPG and CSHP have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYPG has higher volatility (19.71%) compared to CSHP (0.37%). In terms of maximum drawdown, PYPG dropped -79.52% vs CSHP's -0.21%.
On 1-year performance, CSHP leads with 3.94% vs -68.72% for PYPG. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.37%. 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 3.94% return vs -68.72%. 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 0.75% for PYPG.
CSHP has the higher dividend yield at 4.01%, compared with 0.00% for PYPG.
PYPG is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Leverage Shares and iShares. Their fees differ too: 0.75% for PYPG and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (8.28 vs -0.92), 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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