SMMV vs. CSHP
SMMV (iShares MSCI USA Small-Cap Min Vol Factor ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SMMV is a Small Cap Growth Equities fund tracking the MSCI USA Small Cap Minimum Volatility (USD) Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. SMMV is passively managed, while CSHP is actively managed. Over the past year, SMMV returned 8.77% vs 3.89% for CSHP. At a 0.06 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
SMMV vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, SMMV achieves a 4.84% return, which is significantly higher than CSHP's 1.79% return.
SMMV
- 1D
- 0.87%
- 1M
- 1.15%
- YTD
- 4.84%
- 6M
- 3.50%
- 1Y
- 8.77%
- 3Y*
- 12.21%
- 5Y*
- 5.18%
- 10Y*
- —
CSHP
- 1D
- -0.04%
- 1M
- 0.23%
- YTD
- 1.79%
- 6M
- 1.85%
- 1Y
- 3.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMMV vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 4.84% | 6.42% | 6.98% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.79% | 4.10% | 2.24% |
Correlation
The correlation between SMMV and CSHP is -0.08, 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 | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.06 |
The correlation between SMMV and CSHP shifts across timeframes, from -0.08 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMMV vs. CSHP — Risk / Return Rank
SMMV
CSHP
SMMV vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) 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.
| SMMV | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.91 | ||
| Sortino ratioReturn per unit of downside risk | -24.81 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 6.09 | -4.94 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 48.60 | -47.34 |
| Martin ratioReturn relative to average drawdown | 3.78 | 338.28 | -334.50 |
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Drawdowns
SMMV vs. CSHP - Drawdown Comparison
The maximum SMMV drawdown since its inception was -38.77%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SMMV and CSHP.
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Drawdown Indicators
| SMMV | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -0.08% | -38.69% |
Max Drawdown (1Y)Largest decline over 1 year | -7.02% | -0.08% | -6.94% |
Max Drawdown (3Y)Largest decline over 3 years | -13.68% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -0.08% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -5.08% | -0.00% | -5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 0.01% | +2.32% |
Volatility
SMMV vs. CSHP - Volatility Comparison
iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV) has a higher volatility of 2.60% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that SMMV'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
| SMMV | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 0.16% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 6.56% | 0.27% | +6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.83% | 0.36% | +9.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.48% | 0.41% | +13.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 0.41% | +15.25% |
SMMV vs. CSHP - Expense Ratio Comparison
Both SMMV and CSHP have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SMMV vs. CSHP - Dividend Comparison
SMMV's dividend yield for the trailing twelve months is around 1.73%, less than CSHP's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF | 1.73% | 1.77% | 1.76% | 2.30% | 1.67% | 1.08% | 1.39% | 1.64% | 1.72% | 1.63% | 0.79% |
Frequently Asked Questions
SMMV and CSHP have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMMV has higher volatility (2.60%) compared to CSHP (0.16%). In terms of maximum drawdown, SMMV dropped -38.77% vs CSHP's -0.08%.
On 1-year performance, SMMV leads with 8.77% vs 3.89% for CSHP. Both ETFs have the same 0.20% expense ratio. 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, SMMV has performed better with a 8.77% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMMV and CSHP have the same expense ratio: 0.20% per year.
CSHP has the higher dividend yield at 3.92%, compared with 1.73% for SMMV.
SMMV is categorized as Small Cap Growth Equities, while CSHP is Ultrashort Bond.
CSHP currently has the higher Sharpe Ratio (10.81 vs 0.90), 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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