UEVM vs. CSHP
UEVM (VictoryShares Emerging Markets Value Momentum ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. UEVM is passively managed, while CSHP is actively managed. Over the past year, UEVM returned 19.69% vs 3.94% for CSHP. At a 0.02 correlation, their price movements are largely independent. UEVM charges 0.45%/yr vs 0.20%/yr for CSHP.
Performance
UEVM vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, UEVM achieves a 6.12% return, which is significantly higher than CSHP's 1.83% return.
UEVM
- 1D
- -2.16%
- 1M
- -0.96%
- YTD
- 6.12%
- 6M
- 5.85%
- 1Y
- 19.69%
- 3Y*
- 17.49%
- 5Y*
- 7.30%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UEVM vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UEVM VictoryShares Emerging Markets Value Momentum ETF | 6.12% | 22.74% | -0.39% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between UEVM and CSHP is -0.08, 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 (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.02 |
The correlation between UEVM and CSHP shifts across timeframes, from -0.08 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UEVM vs. CSHP — Risk / Return Rank
UEVM
CSHP
UEVM vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) 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.
| UEVM | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.84 | ||
| Sortino ratioReturn per unit of downside risk | -25.86 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 6.46 | -5.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 65.45 | -63.43 |
| Martin ratioReturn relative to average drawdown | 6.57 | 381.67 | -375.10 |
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Drawdowns
UEVM vs. CSHP - Drawdown Comparison
The maximum UEVM drawdown since its inception was -45.44%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for UEVM and CSHP.
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Drawdown Indicators
| UEVM | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.44% | -0.08% | -45.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.79% | -0.06% | -9.73% |
Max Drawdown (3Y)Largest decline over 3 years | -18.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.73% | — | — |
Current DrawdownCurrent decline from peak | -4.76% | -0.04% | -4.72% |
Average DrawdownAverage peak-to-trough decline | -11.62% | -0.00% | -11.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.01% | +2.99% |
Volatility
UEVM vs. CSHP - Volatility Comparison
VictoryShares Emerging Markets Value Momentum ETF (UEVM) has a higher volatility of 6.38% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that UEVM'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
| UEVM | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.38% | 0.16% | +6.22% |
Volatility (6M)Calculated over the trailing 6-month period | 13.13% | 0.27% | +12.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 0.36% | +15.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 0.41% | +15.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 0.41% | +18.01% |
UEVM vs. CSHP - Expense Ratio Comparison
UEVM has a 0.45% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
UEVM vs. CSHP - Dividend Comparison
UEVM's dividend yield for the trailing twelve months is around 2.85%, less than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEVM VictoryShares Emerging Markets Value Momentum ETF | 2.85% | 4.02% | 5.65% | 4.71% | 3.46% | 4.49% | 2.19% | 2.79% | 2.34% | 0.79% |
Frequently Asked Questions
UEVM and CSHP have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UEVM has higher volatility (6.38%) compared to CSHP (0.16%). In terms of maximum drawdown, UEVM dropped -45.44% vs CSHP's -0.08%.
On 1-year performance, UEVM leads with 19.69% 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, UEVM has performed better with a 19.69% 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 0.45% for UEVM.
CSHP has the higher dividend yield at 3.91%, compared with 2.85% for UEVM.
UEVM is categorized as Momentum, while CSHP is Ultrashort Bond. They also come from different issuers: Victory Capital and iShares. Their fees differ too: 0.45% for UEVM and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 1.25), 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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