RULE vs. CSHP

Last updated Jun 24, 2026

RULE (Adaptive Core ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - RULE is a Diversified Portfolio fund actively managed by Mohr Funds, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, RULE returned 48.75% vs 3.94% for CSHP. At a 0.03 correlation, their price movements are largely independent. RULE charges 1.10%/yr vs 0.20%/yr for CSHP.

Performance

RULE vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adaptive Core ETF (RULE) 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, RULE achieves a 43.17% return, which is significantly higher than CSHP's 1.83% return.

RULE

• 1D: -4.44%
• 1M: 8.24%
• YTD: 43.17%
• 6M: 41.30%
• 1Y: 48.75%
• 3Y*: 19.44%
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.03%
• 1M: 0.27%
• YTD: 1.83%
• 6M: 1.92%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RULE vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RULE Adaptive Core ETF	43.17%	4.60%	0.95%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.83%	4.10%	2.24%

Correlation

The correlation between RULE 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	0.03

Return for Risk

RULE vs. CSHP — Risk / Return Rank

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

RULE

RULE Risk / Return Rank: 73
RULE Sharpe Ratio Rank: 70
RULE Sortino Ratio Rank: 64
RULE Omega Ratio Rank: 68
RULE Calmar Ratio Rank: 80
RULE Martin Ratio Rank: 81

CSHP

CSHP Risk / Return Rank: 99
CSHP Sharpe Ratio Rank: 100
CSHP Sortino Ratio Rank: 99
CSHP Omega Ratio Rank: 99
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.

RULE vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adaptive Core ETF (RULE) 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.

	RULE	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	2.10	11.09	-8.98
Sortino ratio: Return per unit of downside risk	2.75	27.60	-24.85
Omega ratio: Gain probability vs. loss probability	1.38	6.46	-5.08
Calmar ratio: Return relative to maximum drawdown	3.87	65.45	-61.58
Martin ratio: Return relative to average drawdown	14.95	381.67	-366.73

RULE vs. CSHP - Sharpe Ratio Comparison

The current RULE Sharpe Ratio is 2.10, which is lower than the CSHP Sharpe Ratio of 11.09. The chart below compares the historical Sharpe Ratios of RULE 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.

Drawdowns

RULE vs. CSHP - Drawdown Comparison

The maximum RULE drawdown since its inception was -30.48%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for RULE and CSHP.

Drawdown Indicators

	RULE	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-30.48%	-0.08%	-30.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-0.06%	-12.59%
Max Drawdown (3Y) Largest decline over 3 years	-20.21%	—	—
Current Drawdown Current decline from peak	-4.44%	-0.04%	-4.40%
Average Drawdown Average peak-to-trough decline	-14.84%	-0.00%	-14.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	0.01%	+3.26%

Volatility

RULE vs. CSHP - Volatility Comparison

Adaptive Core ETF (RULE) has a higher volatility of 13.01% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that RULE'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

	RULE	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.01%	0.16%	+12.85%
Volatility (6M) Calculated over the trailing 6-month period	20.72%	0.27%	+20.45%
Volatility (1Y) Calculated over the trailing 1-year period	23.29%	0.36%	+22.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	0.41%	+15.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	0.41%	+15.28%

RULE vs. CSHP - Expense Ratio Comparison

RULE has a 1.10% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

RULE vs. CSHP - Dividend Comparison

RULE has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 3.91%.

Position	TTM	2025	2024	2023	2022
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%	0.00%	0.00%
RULE Adaptive Core ETF	0.00%	0.00%	0.00%	2.01%	0.01%

Frequently Asked Questions

Can I hold both RULE and CSHP in my portfolio?

RULE 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.

Which is riskier, RULE or CSHP?

RULE has higher volatility (13.01%) compared to CSHP (0.16%). In terms of maximum drawdown, RULE dropped -30.48% vs CSHP's -0.08%.

Which ETF is better, RULE or CSHP?

On 1-year performance, RULE leads with 48.75% 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.

Which ETF has performed better, RULE or CSHP?

Over the 1-year period, RULE has performed better with a 48.75% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RULE or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 1.10% for RULE.

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

CSHP has the higher dividend yield at 3.91%, compared with 0.00% for RULE.

What is the main difference between RULE and CSHP?

RULE is categorized as Diversified Portfolio, while CSHP is Ultrashort Bond. They also come from different issuers: Mohr Funds and iShares. Their fees differ too: 1.10% for RULE and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.09 vs 2.10), 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.