VIOV vs. CSHP
VIOV (Vanguard S&P Small-Cap 600 Value ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. VIOV is passively managed, while CSHP is actively managed. Over the past year, VIOV returned 37.82% vs 3.94% for CSHP. At a 0.02 correlation, their price movements are largely independent. VIOV charges 0.10%/yr vs 0.20%/yr for CSHP.
Performance
VIOV vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, VIOV achieves a 17.53% return, which is significantly higher than CSHP's 1.83% return.
VIOV
- 1D
- -0.26%
- 1M
- 2.94%
- YTD
- 17.53%
- 6M
- 15.94%
- 1Y
- 37.82%
- 3Y*
- 15.57%
- 5Y*
- 6.32%
- 10Y*
- 10.66%
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VIOV vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 17.53% | 6.63% | 2.71% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between VIOV and CSHP is -0.12, 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 | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.02 |
The correlation between VIOV and CSHP shifts across timeframes, from -0.12 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VIOV vs. CSHP — Risk / Return Rank
VIOV
CSHP
VIOV vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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.
| VIOV | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.03 | ||
| Sortino ratioReturn per unit of downside risk | -24.64 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 6.46 | -5.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.07 | 65.45 | -61.38 |
| Martin ratioReturn relative to average drawdown | 13.34 | 381.67 | -368.33 |
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Drawdowns
VIOV vs. CSHP - Drawdown Comparison
The maximum VIOV drawdown since its inception was -47.36%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for VIOV and CSHP.
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Drawdown Indicators
| VIOV | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.36% | -0.08% | -47.28% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -0.06% | -9.27% |
Max Drawdown (3Y)Largest decline over 3 years | -28.44% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.44% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.36% | — | — |
Current DrawdownCurrent decline from peak | -1.58% | -0.04% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -0.00% | -7.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.01% | +2.83% |
Volatility
VIOV vs. CSHP - Volatility Comparison
Vanguard S&P Small-Cap 600 Value ETF (VIOV) has a higher volatility of 4.75% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that VIOV'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
| VIOV | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 0.16% | +4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.82% | 0.27% | +11.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 0.36% | +18.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.90% | 0.41% | +21.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.88% | 0.41% | +23.47% |
VIOV vs. CSHP - Expense Ratio Comparison
VIOV has a 0.10% 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
VIOV vs. CSHP - Dividend Comparison
VIOV's dividend yield for the trailing twelve months is around 1.56%, less than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VIOV Vanguard S&P Small-Cap 600 Value ETF | 1.56% | 1.69% | 1.78% | 2.18% | 1.81% | 1.59% | 1.42% | 1.60% | 1.76% | 1.43% | 1.17% | 1.32% |
Frequently Asked Questions
VIOV and CSHP have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIOV has higher volatility (4.75%) compared to CSHP (0.16%). In terms of maximum drawdown, VIOV dropped -47.36% vs CSHP's -0.08%.
On 1-year performance, VIOV leads with 37.82% vs 3.94% for CSHP. On fees, VIOV is cheaper at 0.10% 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, VIOV has performed better with a 37.82% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VIOV is cheaper with a 0.10% expense ratio, compared with 0.20% for CSHP.
CSHP has the higher dividend yield at 3.91%, compared with 1.56% for VIOV.
VIOV is categorized as Small Cap Value Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VIOV and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 2.06), 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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