VSIEX vs. ICSH
VSIEX (JPMorgan International Equity Fund) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both funds - VSIEX is a Foreign Large Cap Equities fund managed by JPMorgan, while ICSH is a Ultrashort Bond fund actively managed by iShares. Over the past 10 years, VSIEX returned 8.79%/yr vs 2.80%/yr for ICSH. At a 0.09 correlation, their price movements are largely independent. VSIEX charges 0.70%/yr vs 0.08%/yr for ICSH.
Performance
VSIEX vs. ICSH - Performance Comparison
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Returns By Period
In the year-to-date period, VSIEX achieves a 8.02% return, which is significantly higher than ICSH's 1.81% return. Over the past 10 years, VSIEX has outperformed ICSH with an annualized return of 8.79%, while ICSH has yielded a comparatively lower 2.80% annualized return.
VSIEX
- 1D
- -1.00%
- 1M
- -0.46%
- 6M
- 5.14%
- YTD
- 8.02%
- 1Y
- 14.37%
- 3Y*
- 12.36%
- 5Y*
- 6.10%
- 10Y*
- 8.79%
ICSH
- 1D
- 0.04%
- 1M
- 0.28%
- 6M
- 1.72%
- YTD
- 1.81%
- 1Y
- 4.14%
- 3Y*
- 5.09%
- 5Y*
- 3.74%
- 10Y*
- 2.80%
VSIEX vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSIEX JPMorgan International Equity Fund | 8.02% | 25.90% | 1.41% | 17.89% | -19.62% | 11.70% | 13.17% | 27.20% | -17.84% | 29.72% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.81% | 4.96% | 5.52% | 5.58% | 0.97% | 0.16% | 1.61% | 3.17% | 2.25% | 1.63% |
Correlation
The correlation between VSIEX and ICSH is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2013 | 0.09 |
The correlation between VSIEX and ICSH shifts across timeframes, from 0.09 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VSIEX vs. ICSH — Risk / Return Rank
VSIEX
ICSH
VSIEX vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Equity Fund (VSIEX) 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.
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.
| VSIEX | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.12 | ||
| Sortino ratioReturn per unit of downside risk | -20.89 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 5.53 | -4.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 42.01 | -40.78 |
| Martin ratioReturn relative to average drawdown | 4.28 | 237.06 | -232.77 |
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Drawdowns
VSIEX vs. ICSH - Drawdown Comparison
The maximum VSIEX drawdown since its inception was -60.80%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for VSIEX and ICSH.
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Drawdown Indicators
| VSIEX | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.80% | -3.94% | -56.86% |
Max Drawdown (1Y)Largest decline over 1 year | -11.65% | -0.10% | -11.55% |
Max Drawdown (3Y)Largest decline over 3 years | -12.60% | -0.10% | -12.50% |
Max Drawdown (5Y)Largest decline over 5 years | -33.19% | -0.73% | -32.46% |
Max Drawdown (10Y)Largest decline over 10 years | -34.65% | -3.94% | -30.71% |
Current DrawdownCurrent decline from peak | -2.43% | 0.00% | -2.43% |
Average DrawdownAverage peak-to-trough decline | -14.94% | -0.08% | -14.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 0.02% | +3.32% |
Volatility
VSIEX vs. ICSH - Volatility Comparison
JPMorgan International Equity Fund (VSIEX) has a higher volatility of 5.34% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.16%. This indicates that VSIEX's price experiences larger fluctuations and is considered to be riskier 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
| VSIEX | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 0.16% | +5.18% |
Volatility (6M)Calculated over the trailing 6-month period | 13.68% | 0.32% | +13.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 0.42% | +15.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 0.49% | +16.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 1.05% | +15.90% |
VSIEX vs. ICSH - Expense Ratio Comparison
VSIEX has a 0.70% expense ratio, which is higher than ICSH's 0.08% expense ratio.
Dividends
VSIEX vs. ICSH - Dividend Comparison
VSIEX's dividend yield for the trailing twelve months is around 5.94%, more than ICSH's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.28% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
VSIEX JPMorgan International Equity Fund | 5.94% | 6.41% | 3.06% | 2.23% | 2.66% | 6.74% | 1.17% | 3.13% | 3.69% | 1.63% | 1.78% | 1.94% |
Frequently Asked Questions
VSIEX and ICSH have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VSIEX has higher volatility (5.34%) compared to ICSH (0.16%). In terms of maximum drawdown, VSIEX dropped -60.80% vs ICSH's -3.94%.
ICSH currently has the higher Sharpe Ratio (10.01 vs 0.89), 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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