SIO vs. CSHP
SIO (Touchstone Strategic Income Opportunities ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SIO is a Multisector Bonds fund actively managed by Touchstone, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, SIO returned 5.37% vs 3.94% for CSHP. At a correlation of -0.17, they often move in opposite directions. SIO charges 0.65%/yr vs 0.20%/yr for CSHP.
Performance
SIO vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, SIO achieves a 0.99% return, which is significantly lower than CSHP's 1.83% return.
SIO
- 1D
- 0.00%
- 1M
- 0.58%
- YTD
- 0.99%
- 6M
- 1.21%
- 1Y
- 5.37%
- 3Y*
- 7.31%
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SIO vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SIO Touchstone Strategic Income Opportunities ETF | 0.99% | 9.29% | 1.70% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between SIO and CSHP is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | -0.17 |
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Return for Risk
SIO vs. CSHP — Risk / Return Rank
SIO
CSHP
SIO vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Strategic Income Opportunities ETF (SIO) 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.
| SIO | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.85 | ||
| Sortino ratioReturn per unit of downside risk | -25.77 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 6.46 | -5.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 65.45 | -63.40 |
| Martin ratioReturn relative to average drawdown | 6.09 | 381.67 | -375.58 |
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Drawdowns
SIO vs. CSHP - Drawdown Comparison
The maximum SIO drawdown since its inception was -6.94%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SIO and CSHP.
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Drawdown Indicators
| SIO | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.94% | -0.08% | -6.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -0.06% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | -0.04% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -0.00% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.01% | +0.87% |
Volatility
SIO vs. CSHP - Volatility Comparison
Touchstone Strategic Income Opportunities ETF (SIO) has a higher volatility of 0.96% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that SIO'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
| SIO | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.16% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 0.27% | +2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 0.36% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 0.41% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 0.41% | +4.57% |
SIO vs. CSHP - Expense Ratio Comparison
SIO has a 0.65% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
SIO vs. CSHP - Dividend Comparison
SIO's dividend yield for the trailing twelve months is around 6.92%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% |
SIO Touchstone Strategic Income Opportunities ETF | 6.92% | 6.80% | 5.30% | 5.37% | 3.12% |
Frequently Asked Questions
SIO and CSHP have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIO has higher volatility (0.96%) compared to CSHP (0.16%). In terms of maximum drawdown, SIO dropped -6.94% vs CSHP's -0.08%.
On 1-year performance, SIO leads with 5.37% 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.
Over the 1-year period, SIO has performed better with a 5.37% 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 0.65% for SIO.
SIO has the higher dividend yield at 6.92%, compared with 3.91% for CSHP.
SIO is categorized as Multisector Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Touchstone and iShares. Their fees differ too: 0.65% for SIO and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.24), 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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