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USD=X vs. ICSH
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. ICSH

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while ICSH (iShares Ultra Short Duration Bond Active ETF) is Ultrashort Bond fund actively managed by iShares. Over the past 10 years, USD=X returned 0.00%/yr vs 2.77%/yr for ICSH.

Performance

USD=X vs. ICSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and iShares Ultra Short Duration Bond Active ETF (ICSH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

ICSH

1D
0.02%
1M
0.18%
YTD
1.43%
6M
1.75%
1Y
4.30%
3Y*
5.15%
5Y*
3.67%
10Y*
2.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. ICSH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ICSH
iShares Ultra Short Duration Bond Active ETF		1.43%4.96%5.52%5.58%0.97%0.16%1.61%3.17%2.25%1.63%

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USD Cash

iShares Ultra Short Duration Bond Active ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with ICSH:
ICSH vs. SGOVICSH vs. JPSTICSH vs. PULSICSH vs. SPAXXICSH vs. BILICSH vs. FLDRICSH vs. SHV

Return for Risk

USD=X vs. ICSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
ICSH
ICSH Risk / Return Rank: 9999
Overall Rank
ICSH Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
ICSH Sortino Ratio Rank: 100100
Sortino Ratio Rank
ICSH Omega Ratio Rank: 9999
Omega Ratio Rank
ICSH Calmar Ratio Rank: 9999
Calmar Ratio Rank
ICSH Martin Ratio Rank: 9999
Martin Ratio Rank
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.

USD=X vs. ICSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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.

USD=X vs. ICSH - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XICSHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

11.01

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

7.62

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

2.63

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

1.93

—

Drawdowns

USD=X vs. ICSH - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum ICSH drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for USD=X and ICSH.

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Drawdown Indicators

USD=XICSHDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-3.94%

+3.94%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-0.10%

+0.10%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-0.10%

+0.10%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-0.73%

+0.73%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-3.94%

+3.94%

Current Drawdown

Current decline from peak

0.00%

-0.02%

+0.02%

Average Drawdown

Average peak-to-trough decline

0.00%

-0.08%

+0.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.01%

-0.01%

Volatility

USD=X vs. ICSH - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while iShares Ultra Short Duration Bond Active ETF (ICSH) has a volatility of 0.15%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USD=XICSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

0.15%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

0.30%

-0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

0.39%

-0.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

0.48%

-0.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

1.06%

-1.06%

Frequently Asked Questions

ICSH has higher volatility (0.15%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs ICSH's -3.94%.

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