RAVI vs. CSHP
RAVI (FlexShares Ultra-Short Income ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, RAVI returned 4.37% vs 3.94% for CSHP. At a correlation of -0.02, they often move in opposite directions. RAVI charges 0.25%/yr vs 0.20%/yr for CSHP.
Performance
RAVI vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, RAVI achieves a 1.69% return, which is significantly lower than CSHP's 1.83% return.
RAVI
- 1D
- 0.05%
- 1M
- 0.30%
- YTD
- 1.69%
- 6M
- 1.79%
- 1Y
- 4.37%
- 3Y*
- 5.17%
- 5Y*
- 3.54%
- 10Y*
- 2.67%
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RAVI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RAVI FlexShares Ultra-Short Income ETF | 1.69% | 4.98% | 2.46% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between RAVI and CSHP is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | -0.02 |
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Return for Risk
RAVI vs. CSHP — Risk / Return Rank
RAVI
CSHP
RAVI vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Ultra-Short Income ETF (RAVI) 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.
| RAVI | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -4.12 | ||
| Omega ratioGain probability vs. loss probability | 5.23 | 6.46 | -1.23 |
| Calmar ratioReturn relative to maximum drawdown | 37.51 | 65.45 | -27.94 |
| Martin ratioReturn relative to average drawdown | 214.85 | 381.67 | -166.82 |
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Drawdowns
RAVI vs. CSHP - Drawdown Comparison
The maximum RAVI drawdown since its inception was -3.72%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for RAVI and CSHP.
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Drawdown Indicators
| RAVI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -0.08% | -3.64% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -0.06% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -3.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -3.72% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.04% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.17% | -0.00% | -0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.01% | +0.01% |
Volatility
RAVI vs. CSHP - Volatility Comparison
The current volatility for FlexShares Ultra-Short Income ETF (RAVI) is 0.13%, while iShares Enhanced Short-Term Bond Active ETF (CSHP) has a volatility of 0.16%. This indicates that RAVI experiences smaller price fluctuations and is considered to be less risky 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
| RAVI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.16% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 0.27% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 0.36% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.41% | 0.41% | +1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 0.41% | +0.87% |
RAVI vs. CSHP - Expense Ratio Comparison
RAVI has a 0.25% expense ratio, which is higher than CSHP's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
RAVI vs. CSHP - Dividend Comparison
RAVI's dividend yield for the trailing twelve months is around 4.37%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
RAVI FlexShares Ultra-Short Income ETF | 4.37% | 4.59% | 5.34% | 4.55% | 1.70% | 0.90% | 1.29% | 2.53% | 2.22% | 1.28% | 0.90% |
Frequently Asked Questions
RAVI and CSHP have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSHP has higher volatility (0.16%) compared to RAVI (0.13%). In terms of maximum drawdown, RAVI dropped -3.72% vs CSHP's -0.08%.
On 1-year performance, RAVI leads with 4.37% vs 3.94% for CSHP. On fees, CSHP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RAVI has performed better with a 4.37% 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 0.25% for RAVI.
RAVI has the higher dividend yield at 4.37%, compared with 3.91% for CSHP.
They also come from different issuers: FlexShares and iShares. Their fees differ too: 0.25% for RAVI and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 10.73), 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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