SOFX vs. CSHP

Last updated Jun 24, 2026

SOFX (Defiance Daily Target 2X Long SOFI ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SOFX is a Leveraged Equities fund actively managed by Defiance, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, SOFX returned -26.37% vs 3.94% for CSHP. At a correlation of -0.05, they often move in opposite directions. SOFX charges 1.29%/yr vs 0.20%/yr for CSHP.

Performance

SOFX vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long SOFI ETF (SOFX) 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, SOFX achieves a -66.17% return, which is significantly lower than CSHP's 1.83% return.

SOFX

• 1D: 2.02%
• 1M: 16.48%
• YTD: -66.17%
• 6M: -68.88%
• 1Y: -26.37%
• 3Y*: —
• 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)

SOFX vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
SOFX Defiance Daily Target 2X Long SOFI ETF	-66.17%	54.87%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.83%	3.91%

Correlation

The correlation between SOFX and CSHP is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	-0.05

Return for Risk

SOFX vs. CSHP — Risk / Return Rank

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

SOFX

SOFX Risk / Return Rank: 8
SOFX Sharpe Ratio Rank: 7
SOFX Sortino Ratio Rank: 11
SOFX Omega Ratio Rank: 11
SOFX Calmar Ratio Rank: 6
SOFX Martin Ratio Rank: 7

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.

SOFX vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long SOFI ETF (SOFX) 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.

	SOFX	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	11.09	-11.33
Sortino ratio: Return per unit of downside risk	0.41	27.60	-27.19
Omega ratio: Gain probability vs. loss probability	1.05	6.46	-5.41
Calmar ratio: Return relative to maximum drawdown	-0.32	65.45	-65.77
Martin ratio: Return relative to average drawdown	-0.52	381.67	-382.19

SOFX vs. CSHP - Sharpe Ratio Comparison

The current SOFX Sharpe Ratio is -0.24, which is lower than the CSHP Sharpe Ratio of 11.09. The chart below compares the historical Sharpe Ratios of SOFX 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

SOFX vs. CSHP - Drawdown Comparison

The maximum SOFX drawdown since its inception was -83.23%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SOFX and CSHP.

Drawdown Indicators

	SOFX	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-83.23%	-0.08%	-83.15%
Max Drawdown (1Y) Largest decline over 1 year	-83.23%	-0.06%	-83.17%
Current Drawdown Current decline from peak	-79.50%	-0.04%	-79.46%
Average Drawdown Average peak-to-trough decline	-43.58%	-0.00%	-43.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.68%	0.01%	+50.67%

Volatility

SOFX vs. CSHP - Volatility Comparison

Defiance Daily Target 2X Long SOFI ETF (SOFX) has a higher volatility of 35.21% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that SOFX'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

	SOFX	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	35.21%	0.16%	+35.05%
Volatility (6M) Calculated over the trailing 6-month period	78.17%	0.27%	+77.90%
Volatility (1Y) Calculated over the trailing 1-year period	111.51%	0.36%	+111.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.86%	0.41%	+121.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.86%	0.41%	+121.45%

SOFX vs. CSHP - Expense Ratio Comparison

SOFX has a 1.29% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

SOFX vs. CSHP - Dividend Comparison

SOFX's dividend yield for the trailing twelve months is around 37.44%, more than CSHP's 3.91% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.91%	5.39%	1.96%
SOFX Defiance Daily Target 2X Long SOFI ETF	37.44%	12.67%	0.00%

Frequently Asked Questions

Can I hold both SOFX and CSHP in my portfolio?

SOFX and CSHP have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOFX or CSHP?

SOFX has higher volatility (35.21%) compared to CSHP (0.16%). In terms of maximum drawdown, SOFX dropped -83.23% vs CSHP's -0.08%.

Which ETF is better, SOFX or CSHP?

On 1-year performance, CSHP leads with 3.94% vs -26.37% for SOFX. 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, SOFX or CSHP?

Over the 1-year period, CSHP has performed better with a 3.94% return vs -26.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOFX or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 1.29% for SOFX.

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

SOFX has the higher dividend yield at 37.44%, compared with 3.91% for CSHP.

What is the main difference between SOFX and CSHP?

SOFX is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Defiance and iShares. Their fees differ too: 1.29% for SOFX and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.09 vs -0.24), 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.