TSLG vs. CSHP

Last updated Jun 24, 2026

TSLG (Leverage Shares 2X Long TSLA Daily ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - TSLG is a Leveraged Equities fund actively managed by Leverage Shares, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, TSLG returned -12.69% vs 3.94% for CSHP. At a correlation of -0.02, they often move in opposite directions. TSLG charges 0.75%/yr vs 0.20%/yr for CSHP.

Performance

TSLG vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSLA Daily ETF (TSLG) 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, TSLG achieves a -37.23% return, which is significantly lower than CSHP's 1.83% return.

TSLG

• 1D: -11.63%
• 1M: -22.10%
• YTD: -37.23%
• 6M: -46.41%
• 1Y: -12.69%
• 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)

TSLG vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLG Leverage Shares 2X Long TSLA Daily ETF	-37.23%	-26.70%	-14.82%
CSHP iShares Enhanced Short-Term Bond Active ETF	1.83%	4.10%	0.23%

Correlation

The correlation between TSLG and CSHP is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	-0.02

Return for Risk

TSLG vs. CSHP — Risk / Return Rank

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

TSLG

TSLG Risk / Return Rank: 8
TSLG Sharpe Ratio Rank: 7
TSLG Sortino Ratio Rank: 11
TSLG Omega Ratio Rank: 10
TSLG Calmar Ratio Rank: 7
TSLG 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.

TSLG vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSLA Daily ETF (TSLG) 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.

	TSLG	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	11.09	-11.23
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	-0.23	65.45	-65.68
Martin ratio: Return relative to average drawdown	-0.47	381.67	-382.14

TSLG vs. CSHP - Sharpe Ratio Comparison

The current TSLG Sharpe Ratio is -0.15, which is lower than the CSHP Sharpe Ratio of 11.09. The chart below compares the historical Sharpe Ratios of TSLG 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

TSLG vs. CSHP - Drawdown Comparison

The maximum TSLG drawdown since its inception was -82.86%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for TSLG and CSHP.

Drawdown Indicators

	TSLG	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-82.86%	-0.08%	-82.78%
Max Drawdown (1Y) Largest decline over 1 year	-54.61%	-0.06%	-54.55%
Current Drawdown Current decline from peak	-68.29%	-0.04%	-68.25%
Average Drawdown Average peak-to-trough decline	-58.78%	-0.00%	-58.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.68%	0.01%	+27.67%

Volatility

TSLG vs. CSHP - Volatility Comparison

Leverage Shares 2X Long TSLA Daily ETF (TSLG) has a higher volatility of 29.15% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that TSLG'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

	TSLG	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.15%	0.16%	+28.99%
Volatility (6M) Calculated over the trailing 6-month period	57.01%	0.27%	+56.74%
Volatility (1Y) Calculated over the trailing 1-year period	89.25%	0.36%	+88.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.05%	0.41%	+114.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.05%	0.41%	+114.64%

TSLG vs. CSHP - Expense Ratio Comparison

TSLG has a 0.75% expense ratio, which is higher than CSHP's 0.20% expense ratio.

Dividends

TSLG vs. CSHP - Dividend Comparison

TSLG's dividend yield for the trailing twelve months is around 10.43%, 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%
TSLG Leverage Shares 2X Long TSLA Daily ETF	10.43%	6.55%	0.00%

Frequently Asked Questions

Can I hold both TSLG and CSHP in my portfolio?

TSLG and CSHP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLG or CSHP?

TSLG has higher volatility (29.15%) compared to CSHP (0.16%). In terms of maximum drawdown, TSLG dropped -82.86% vs CSHP's -0.08%.

Which ETF is better, TSLG or CSHP?

On 1-year performance, CSHP leads with 3.94% vs -12.69% for TSLG. 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, TSLG or CSHP?

Over the 1-year period, CSHP has performed better with a 3.94% return vs -12.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLG or CSHP?

CSHP is cheaper with a 0.20% expense ratio, compared with 0.75% for TSLG.

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

TSLG has the higher dividend yield at 10.43%, compared with 3.91% for CSHP.

What is the main difference between TSLG and CSHP?

TSLG is categorized as Leveraged Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Leverage Shares and iShares. Their fees differ too: 0.75% for TSLG and 0.20% for CSHP.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (11.09 vs -0.15), 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.