VPC vs. CSHP
VPC (Virtus Private Credit ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. VPC is passively managed, while CSHP is actively managed. Over the past year, VPC returned -15.79% vs 3.94% for CSHP. At a 0.00 correlation, their price movements are largely independent. VPC charges 0.75%/yr vs 0.20%/yr for CSHP.
Performance
VPC vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -12.79% return, which is significantly lower than CSHP's 1.83% return.
VPC
- 1D
- 0.41%
- 1M
- -3.76%
- YTD
- -12.79%
- 6M
- -11.42%
- 1Y
- -15.79%
- 3Y*
- 1.19%
- 5Y*
- 0.39%
- 10Y*
- —
CSHP
- 1D
- -0.03%
- 1M
- 0.27%
- YTD
- 1.83%
- 6M
- 1.92%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VPC vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VPC Virtus Private Credit ETF | -12.79% | -6.75% | 0.54% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.83% | 4.10% | 2.24% |
Correlation
The correlation between VPC 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 | 0.00 |
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Return for Risk
VPC vs. CSHP — Risk / Return Rank
VPC
CSHP
VPC vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.
| VPC | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.26 | ||
| Sortino ratioReturn per unit of downside risk | -29.20 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 6.46 | -5.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 65.45 | -66.15 |
| Martin ratioReturn relative to average drawdown | -1.30 | 381.67 | -382.97 |
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Drawdowns
VPC vs. CSHP - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for VPC and CSHP.
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Drawdown Indicators
| VPC | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -0.08% | -53.37% |
Max Drawdown (1Y)Largest decline over 1 year | -22.76% | -0.06% | -22.70% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | — | — |
Current DrawdownCurrent decline from peak | -22.76% | -0.04% | -22.72% |
Average DrawdownAverage peak-to-trough decline | -7.76% | -0.00% | -7.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 0.01% | +12.19% |
Volatility
VPC vs. CSHP - Volatility Comparison
Virtus Private Credit ETF (VPC) has a higher volatility of 4.19% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that VPC'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
| VPC | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.19% | 0.16% | +4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 11.26% | 0.27% | +10.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.50% | 0.36% | +13.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 0.41% | +13.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.52% | 0.41% | +20.11% |
VPC vs. CSHP - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
VPC vs. CSHP - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 16.70%, more than CSHP's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.91% | 5.39% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VPC Virtus Private Credit ETF | 16.70% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% |
Frequently Asked Questions
VPC 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.
VPC has higher volatility (4.19%) compared to CSHP (0.16%). In terms of maximum drawdown, VPC dropped -53.45% vs CSHP's -0.08%.
On 1-year performance, CSHP leads with 3.94% vs -15.79% for VPC. 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, CSHP has performed better with a 3.94% return vs -15.79%. 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 0.75% for VPC.
VPC has the higher dividend yield at 16.70%, compared with 3.91% for CSHP.
VPC is categorized as Nontraditional Bonds, while CSHP is Ultrashort Bond. They also come from different issuers: Virtus Investment Partners and iShares. Their fees differ too: 0.75% for VPC and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (11.09 vs -1.18), 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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