SHRY vs. CSHP

Last updated Jun 4, 2026

SHRY (First Trust Bloomberg Shareholder Yield ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SHRY is a Large Cap Blend Equities fund tracking the Bloomberg Shareholder Yield Index - Benchmark TR Gross, while CSHP is a Ultrashort Bond fund actively managed by iShares. SHRY is passively managed, while CSHP is actively managed. Over the past year, SHRY returned 6.62% vs 3.96% for CSHP. At a 0.06 correlation, their price movements are largely independent. SHRY charges 0.60%/yr vs 0.20%/yr for CSHP.

Performance

SHRY vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg Shareholder Yield ETF (SHRY) 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, SHRY achieves a 4.24% return, which is significantly higher than CSHP's 1.63% return.

SHRY

• 1D: -0.83%
• 1M: -1.07%
• YTD: 4.24%
• 6M: 5.20%
• 1Y: 6.62%
• 3Y*: 13.90%
• 5Y*: 7.87%
• 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)

SHRY vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SHRY First Trust Bloomberg Shareholder Yield ETF	4.24%	7.29%	2.63%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	4.10%	2.24%

Correlation

The correlation between SHRY and CSHP is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024	0.06

The correlation between SHRY and CSHP shifts across timeframes, from -0.04 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

SHRY vs. CSHP - Sectors Allocation Comparison

Sectors	SHRY	CSHP
Financial Services	23.2%	0.1%
Technology	18.2%	-
Communication Services	12.9%	-
Energy	10.7%	-
Consumer Defensive	10.2%	-
Healthcare	8.5%	-
Industrials	8.1%	-
Consumer Cyclical	7.5%	-
Basic Materials	0.7%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SHRY vs. CSHP — Risk / Return Rank

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

SHRY

SHRY Risk / Return Rank: 20
SHRY Sharpe Ratio Rank: 19
SHRY Sortino Ratio Rank: 18
SHRY Omega Ratio Rank: 18
SHRY Calmar Ratio Rank: 21
SHRY Martin Ratio Rank: 22

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.

SHRY vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Shareholder Yield ETF (SHRY) 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.

	SHRY	CSHP	Difference
Sharpe ratio Return per unit of total volatility	0.62	11.91	-11.29
Sortino ratio Return per unit of downside risk	0.95	31.26	-30.31
Omega ratio Gain probability vs. loss probability	1.11	7.44	-6.33
Calmar ratio Return relative to maximum drawdown	0.92	65.71	-64.78
Martin ratio Return relative to average drawdown	2.54	432.16	-429.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHRY vs. CSHP - Sharpe Ratio Comparison

The current SHRY Sharpe Ratio is 0.62, which is lower than the CSHP Sharpe Ratio of 11.91. The chart below compares the historical Sharpe Ratios of SHRY 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

	SHRY	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	11.91	-11.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	10.75	-10.15

Drawdowns

SHRY vs. CSHP - Drawdown Comparison

The maximum SHRY drawdown since its inception was -36.67%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SHRY and CSHP.

Drawdown Indicators

	SHRY	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-36.67%	-0.08%	-36.59%
Max Drawdown (1Y) Largest decline over 1 year	-7.20%	-0.06%	-7.14%
Max Drawdown (3Y) Largest decline over 3 years	-15.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.94%	—	—
Current Drawdown Current decline from peak	-3.73%	0.00%	-3.73%
Average Drawdown Average peak-to-trough decline	-5.03%	-0.00%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	0.01%	+2.61%

Volatility

SHRY vs. CSHP - Volatility Comparison

First Trust Bloomberg Shareholder Yield ETF (SHRY) has a higher volatility of 2.31% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that SHRY'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

	SHRY	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	0.07%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	0.24%	+7.27%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	0.33%	+10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	0.40%	+15.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.18%	0.40%	+17.78%

SHRY vs. CSHP - Expense Ratio Comparison

SHRY has a 0.60% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

SHRY vs. CSHP - Dividend Comparison

SHRY's dividend yield for the trailing twelve months is around 1.69%, less than CSHP's 3.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SHRY First Trust Bloomberg Shareholder Yield ETF	1.69%	1.73%	1.76%	1.49%	1.52%	0.98%	1.65%	1.54%	1.89%	0.55%

Frequently Asked Questions

Can I hold both SHRY and CSHP in my portfolio?

SHRY and CSHP have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHRY or CSHP?

SHRY has higher volatility (2.31%) compared to CSHP (0.07%). In terms of maximum drawdown, SHRY dropped -36.67% vs CSHP's -0.08%.

Which ETF is better, SHRY or CSHP?

On 1-year performance, SHRY leads with 6.62% 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, SHRY or CSHP?

Over the 1-year period, SHRY has performed better with a 6.62% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHRY or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.60% for SHRY.

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

CSHP has the higher dividend yield at 3.92%, compared with 1.69% for SHRY.

What is the main difference between SHRY and CSHP?

SHRY is categorized as Large Cap Blend Equities, while CSHP is Ultrashort Bond. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for SHRY and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.91 vs 0.62), 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.