SPXM vs. CSHP

Last updated Jun 5, 2026

SPXM (Azoria 500 Meritocracy ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - SPXM is a Large Cap Blend Equities fund actively managed by Azoria, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. At a correlation of -0.07, they often move in opposite directions. SPXM charges 0.47%/yr vs 0.20%/yr for CSHP.

Performance

SPXM vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Azoria 500 Meritocracy ETF (SPXM) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -0.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.02%
• 1M: 0.24%
• YTD: 1.62%
• 6M: 1.86%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXM vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
SPXM Azoria 500 Meritocracy ETF	0.00%	9.16%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.62%	1.87%

Correlation

The correlation between SPXM and CSHP is -0.07, 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 (All Time) Calculated using the full available price history since Jul 9, 2025	-0.07

Return for Risk

SPXM vs. CSHP — Risk / Return Rank

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

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.

SPXM vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Azoria 500 Meritocracy ETF (SPXM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPXM	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	11.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	10.70	-9.14

Drawdowns

SPXM vs. CSHP - Drawdown Comparison

The maximum SPXM drawdown since its inception was -5.08%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for SPXM and CSHP.

Drawdown Indicators

	SPXM	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-5.08%	-0.08%	-5.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.06%	—
Current Drawdown Current decline from peak	-0.75%	-0.02%	-0.73%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.00%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	SPXM	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.16%	0.33%	+7.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.16%	0.40%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.16%	0.40%	+7.76%

SPXM vs. CSHP - Expense Ratio Comparison

SPXM has a 0.47% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

SPXM vs. CSHP - Dividend Comparison

SPXM's dividend yield for the trailing twelve months is around 0.24%, less than CSHP's 3.92% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%
SPXM Azoria 500 Meritocracy ETF	0.24%	0.24%	0.00%

Frequently Asked Questions

Can I hold both SPXM and CSHP in my portfolio?

SPXM and CSHP have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPXM or CSHP?

On fees, CSHP is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXM or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.47% for SPXM.

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

CSHP has the higher dividend yield at 3.92%, compared with 0.24% for SPXM.

What is the main difference between SPXM and CSHP?

SPXM is categorized as Large Cap Blend Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Azoria and iShares. Their fees differ too: 0.47% for SPXM and 0.20% for CSHP.