SPUC vs. CSHP
SPUC (Simplify US Equity PLUS Upside Convexity ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SPUC is a Large Cap Blend Equities fund actively managed by Simplify, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, SPUC returned 25.30% vs 3.94% for CSHP. At a 0.02 correlation, their price movements are largely independent. SPUC charges 0.53%/yr vs 0.20%/yr for CSHP.
Performance
SPUC vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, SPUC achieves a 7.04% return, which is significantly higher than CSHP's 1.83% return.
SPUC
- 1D
- -1.29%
- 1M
- -0.82%
- YTD
- 7.04%
- 6M
- 5.67%
- 1Y
- 25.30%
- 3Y*
- 22.48%
- 5Y*
- 13.13%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUC vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | 7.04% | 22.64% | -2.77% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between SPUC 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 Jul 18, 2024 | 0.02 |
The correlation between SPUC and CSHP shifts across timeframes, from -0.13 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPUC vs. CSHP — Risk / Return Rank
SPUC
CSHP
SPUC vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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.
| SPUC | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.59 | ||
| Sortino ratioReturn per unit of downside risk | -25.58 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 6.46 | -5.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 65.45 | -63.25 |
| Martin ratioReturn relative to average drawdown | 7.36 | 381.67 | -374.31 |
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Drawdowns
SPUC vs. CSHP - Drawdown Comparison
The maximum SPUC drawdown since its inception was -29.20%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SPUC and CSHP.
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Drawdown Indicators
| SPUC | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.20% | -0.08% | -29.12% |
Max Drawdown (1Y)Largest decline over 1 year | -11.56% | -0.06% | -11.50% |
Max Drawdown (3Y)Largest decline over 3 years | -28.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | — | — |
Current DrawdownCurrent decline from peak | -2.49% | -0.04% | -2.45% |
Average DrawdownAverage peak-to-trough decline | -8.42% | -0.00% | -8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 0.01% | +3.43% |
Volatility
SPUC vs. CSHP - Volatility Comparison
Simplify US Equity PLUS Upside Convexity ETF (SPUC) has a higher volatility of 4.93% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that SPUC'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
| SPUC | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 0.16% | +4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 0.27% | +10.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.05% | 0.36% | +16.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.03% | 0.41% | +21.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.45% | 0.41% | +21.04% |
SPUC vs. CSHP - Expense Ratio Comparison
SPUC has a 0.53% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
SPUC vs. CSHP - Dividend Comparison
SPUC's dividend yield for the trailing twelve months is around 9.39%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% |
SPUC Simplify US Equity PLUS Upside Convexity ETF | 9.39% | 7.70% | 0.94% | 1.33% | 1.53% | 2.00% | 0.75% |
Frequently Asked Questions
SPUC 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.
SPUC has higher volatility (4.93%) compared to CSHP (0.16%). In terms of maximum drawdown, SPUC dropped -29.20% vs CSHP's -0.08%.
On 1-year performance, SPUC leads with 25.30% 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, SPUC has performed better with a 25.30% 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 0.53% for SPUC.
SPUC has the higher dividend yield at 9.39%, compared with 3.91% for CSHP.
SPUC is categorized as Large Cap Blend Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.53% for SPUC and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.50), 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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