TLTX vs. CSHP

Last updated Jun 4, 2026

TLTX (Global X Treasury Bond Enhanced Income ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - TLTX is a Government Bonds fund actively managed by Global X, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. At a correlation of -0.18, they often move in opposite directions. TLTX charges 0.29%/yr vs 0.20%/yr for CSHP.

Performance

TLTX vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Treasury Bond Enhanced Income ETF (TLTX) 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, TLTX achieves a -0.36% return, which is significantly lower than CSHP's 1.63% return.

TLTX

• 1D: -0.37%
• 1M: -0.19%
• YTD: -0.36%
• 6M: -1.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.63%
• 6M: 1.93%
• 1Y: 3.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TLTX vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
TLTX Global X Treasury Bond Enhanced Income ETF	-0.36%	5.40%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.63%	1.78%

Correlation

The correlation between TLTX and CSHP is -0.18, 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 (All Time) Calculated using the full available price history since Jul 17, 2025	-0.18

Return for Risk

TLTX 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.

TLTX vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Treasury Bond Enhanced Income ETF (TLTX) 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

	TLTX	CSHP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	11.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	10.75	-10.13

Drawdowns

TLTX vs. CSHP - Drawdown Comparison

The maximum TLTX drawdown since its inception was -6.35%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TLTX and CSHP.

Drawdown Indicators

	TLTX	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-0.08%	-6.27%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.06%	—
Current Drawdown Current decline from peak	-4.05%	0.00%	-4.05%
Average Drawdown Average peak-to-trough decline	-2.27%	-0.00%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	TLTX	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	0.33%	+8.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.14%	0.40%	+8.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.14%	0.40%	+8.74%

TLTX vs. CSHP - Expense Ratio Comparison

TLTX has a 0.29% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

TLTX vs. CSHP - Dividend Comparison

TLTX's dividend yield for the trailing twelve months is around 15.79%, more than CSHP's 3.92% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	3.92%	5.39%	1.96%
TLTX Global X Treasury Bond Enhanced Income ETF	15.79%	7.54%	0.00%

Frequently Asked Questions

Can I hold both TLTX and CSHP in my portfolio?

TLTX and CSHP have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TLTX 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, TLTX or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.29% for TLTX.

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

TLTX has the higher dividend yield at 15.79%, compared with 3.92% for CSHP.

What is the main difference between TLTX and CSHP?

TLTX is categorized as Government Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Global X and iShares. Their fees differ too: 0.29% for TLTX and 0.20% for CSHP.