QCML vs. CSHP

Last updated Jun 4, 2026

QCML (GraniteShares 2x Long QCOM Daily ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - QCML is a Leveraged Equities fund tracking the Qualcomm Inc. (QCOM), while CSHP is a Ultrashort Bond fund actively managed by iShares. QCML is passively managed, while CSHP is actively managed. Over the past year, QCML returned 120.00% vs 3.96% for CSHP. At a correlation of -0.04, they often move in opposite directions. QCML charges 1.50%/yr vs 0.20%/yr for CSHP.

Performance

QCML vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long QCOM Daily ETF (QCML) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCML achieves a 79.80% return, which is significantly higher than CSHP's 1.63% return.

QCML

• 1D: 7.29%
• 1M: 100.00%
• YTD: 79.80%
• 6M: 72.23%
• 1Y: 120.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.63%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QCML vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
QCML GraniteShares 2x Long QCOM Daily ETF	79.80%	-16.71%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	3.58%

Correlation

The correlation between QCML and CSHP is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025	-0.04

QCML vs. CSHP - Sectors Allocation Comparison

Sectors	QCML	CSHP
Technology	66.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

QCML vs. CSHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QCML

QCML Risk / Return Rank: 41
QCML Sharpe Ratio Rank: 37
QCML Sortino Ratio Rank: 44
QCML Omega Ratio Rank: 50
QCML Calmar Ratio Rank: 42
QCML Martin Ratio Rank: 30

CSHP

CSHP Risk / Return Rank: 100
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 100
CSHP Omega Ratio Rank: 100
CSHP Calmar Ratio Rank: 100
CSHP Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QCML vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) 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.

	QCML	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.30	11.91	-10.61
Sortino ratio: Return per unit of downside risk	2.18	31.26	-29.07
Omega ratio: Gain probability vs. loss probability	1.31	7.44	-6.13
Calmar ratio: Return relative to maximum drawdown	2.06	65.71	-63.65
Martin ratio: Return relative to average drawdown	4.31	432.16	-427.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCML vs. CSHP - Sharpe Ratio Comparison

The current QCML Sharpe Ratio is 1.30, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of QCML and CSHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QCML	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	11.91	-10.61
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	10.75	-10.37

Drawdowns

QCML vs. CSHP - Drawdown Comparison

The maximum QCML drawdown since its inception was -59.13%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for QCML and CSHP.

Drawdown Indicators

	QCML	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-59.13%	-0.08%	-59.05%
Max Drawdown (1Y) Largest decline over 1 year	-58.72%	-0.06%	-58.66%
Current Drawdown Current decline from peak	-2.47%	0.00%	-2.47%
Average Drawdown Average peak-to-trough decline	-29.03%	-0.00%	-29.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.93%	0.01%	+27.92%

Volatility

QCML vs. CSHP - Volatility Comparison

GraniteShares 2x Long QCOM Daily ETF (QCML) has a higher volatility of 57.39% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that QCML'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.

Volatility by Period

	QCML	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	57.39%	0.07%	+57.32%
Volatility (6M) Calculated over the trailing 6-month period	78.26%	0.24%	+78.02%
Volatility (1Y) Calculated over the trailing 1-year period	93.04%	0.33%	+92.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.49%	0.40%	+95.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.49%	0.40%	+95.09%

QCML vs. CSHP - Expense Ratio Comparison

QCML has a 1.50% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

QCML vs. CSHP - Dividend Comparison

QCML has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 3.92%.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%
QCML GraniteShares 2x Long QCOM Daily ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QCML and CSHP in my portfolio?

QCML and CSHP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCML or CSHP?

QCML has higher volatility (57.39%) compared to CSHP (0.07%). In terms of maximum drawdown, QCML dropped -59.13% vs CSHP's -0.08%.

Which ETF is better, QCML or CSHP?

On 1-year performance, QCML leads with 120.00% 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 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCML or CSHP?

Over the 1-year period, QCML has performed better with a 120.00% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCML or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 1.50% for QCML.

Which ETF pays a higher dividend yield, QCML or CSHP?

CSHP has the higher dividend yield at 3.92%, compared with 0.00% for QCML.

What is the main difference between QCML and CSHP?

QCML is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.50% for QCML and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs 1.30), 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.