VOE vs. CSHP
VOE (Vanguard Mid-Cap Value ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - VOE is a Mid Cap Value Equities fund tracking the CRSP US Mid Cap Value Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. VOE is passively managed, while CSHP is actively managed. Over the past year, VOE returned 23.08% vs 3.94% for CSHP. At a 0.05 correlation, their price movements are largely independent. VOE charges 0.05%/yr vs 0.20%/yr for CSHP.
Performance
VOE vs. CSHP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VOE achieves a 11.74% return, which is significantly higher than CSHP's 1.83% return.
VOE
- 1D
- 0.12%
- 1M
- 1.41%
- YTD
- 11.74%
- 6M
- 10.93%
- 1Y
- 23.08%
- 3Y*
- 16.24%
- 5Y*
- 9.29%
- 10Y*
- 10.96%
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VOE vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VOE Vanguard Mid-Cap Value ETF | 11.74% | 12.08% | 3.56% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between VOE and CSHP is -0.09, 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 | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.05 |
The correlation between VOE and CSHP shifts across timeframes, from -0.09 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VOE vs. CSHP — Risk / Return Rank
VOE
CSHP
VOE vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Value ETF (VOE) 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.
| VOE | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.09 | ||
| Sortino ratioReturn per unit of downside risk | -24.73 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 6.46 | -5.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 65.45 | -62.10 |
| Martin ratioReturn relative to average drawdown | 12.65 | 381.67 | -369.02 |
Loading charts...
Drawdowns
VOE vs. CSHP - Drawdown Comparison
The maximum VOE drawdown since its inception was -61.50%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for VOE and CSHP.
Loading charts...
Drawdown Indicators
| VOE | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.50% | -0.08% | -61.42% |
Max Drawdown (1Y)Largest decline over 1 year | -6.93% | -0.06% | -6.87% |
Max Drawdown (3Y)Largest decline over 3 years | -18.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.18% | — | — |
Current DrawdownCurrent decline from peak | -1.07% | -0.04% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -8.33% | -0.00% | -8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 0.01% | +1.82% |
Volatility
VOE vs. CSHP - Volatility Comparison
Vanguard Mid-Cap Value ETF (VOE) has a higher volatility of 3.36% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that VOE'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.
Loading charts...
Volatility by Period
| VOE | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 0.16% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.36% | 0.27% | +8.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.64% | 0.36% | +11.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 0.41% | +15.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 0.41% | +18.38% |
VOE vs. CSHP - Expense Ratio Comparison
VOE has a 0.05% 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
VOE vs. CSHP - Dividend Comparison
VOE's dividend yield for the trailing twelve months is around 1.86%, 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% |
VOE Vanguard Mid-Cap Value ETF | 1.86% | 2.10% | 2.11% | 2.27% | 2.27% | 1.78% | 2.36% | 2.05% | 2.75% | 1.86% | 1.92% | 2.05% |
Frequently Asked Questions
VOE and CSHP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOE has higher volatility (3.36%) compared to CSHP (0.16%). In terms of maximum drawdown, VOE dropped -61.50% vs CSHP's -0.08%.
On 1-year performance, VOE leads with 23.08% vs 3.94% for CSHP. On fees, VOE is cheaper at 0.05% 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, VOE has performed better with a 23.08% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOE is cheaper with a 0.05% expense ratio, compared with 0.20% for CSHP.
CSHP has the higher dividend yield at 3.91%, compared with 1.86% for VOE.
VOE is categorized as Mid Cap Value Equities, while CSHP is Ultrashort Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VOE and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs 2.00), 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.
Find the right allocation for VOE and CSHP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer