TIP vs. CSHP
TIP (iShares TIPS Bond ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. TIP is passively managed, while CSHP is actively managed. Over the past year, TIP returned 4.96% vs 3.96% for CSHP. At a correlation of -0.16, they often move in opposite directions. TIP charges 0.18%/yr vs 0.20%/yr for CSHP.
Performance
TIP vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, TIP achieves a 1.54% return, which is significantly lower than CSHP's 1.63% return.
TIP
- 1D
- -0.18%
- 1M
- -0.09%
- YTD
- 1.54%
- 6M
- 1.06%
- 1Y
- 4.96%
- 3Y*
- 3.88%
- 5Y*
- 0.97%
- 10Y*
- 2.57%
CSHP
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.63%
- 6M
- 1.93%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIP vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TIP iShares TIPS Bond ETF | 1.54% | 6.77% | -0.25% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.63% | 4.10% | 2.24% |
Correlation
The correlation between TIP and CSHP is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2024 | -0.16 |
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Return for Risk
TIP vs. CSHP — Risk / Return Rank
TIP
CSHP
TIP vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) 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.
| TIP | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.45 | ||
| Sortino ratioReturn per unit of downside risk | -29.02 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 7.44 | -6.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 65.71 | -63.18 |
| Martin ratioReturn relative to average drawdown | 7.57 | 432.16 | -424.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIP | CSHP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 11.91 | -10.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 10.75 | -10.18 |
Drawdowns
TIP vs. CSHP - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TIP and CSHP.
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Drawdown Indicators
| TIP | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -0.08% | -14.49% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -0.06% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | 0.00% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -0.00% | -3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.01% | +0.65% |
Volatility
TIP vs. CSHP - Volatility Comparison
iShares TIPS Bond ETF (TIP) has a higher volatility of 0.89% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.07%. This indicates that TIP'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
| TIP | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.07% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 0.24% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 0.33% | +3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 0.40% | +5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 0.40% | +5.34% |
TIP vs. CSHP - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is lower than CSHP's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TIP vs. CSHP - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, less than CSHP's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
TIP and CSHP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIP has higher volatility (0.89%) compared to CSHP (0.07%). In terms of maximum drawdown, TIP dropped -14.57% vs CSHP's -0.08%.
On 1-year performance, TIP leads with 4.96% vs 3.96% for CSHP. On fees, TIP is cheaper at 0.18% per year. On volatility, CSHP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TIP has performed better with a 4.96% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.20% for CSHP.
CSHP has the higher dividend yield at 3.92%, compared with 3.76% for TIP.
TIP is categorized as Inflation-Protected Bonds, while CSHP is Ultrashort Bond. Their fees differ too: 0.18% for TIP and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.91 vs 1.46), 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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