XNOV vs. CSHP
XNOV (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - XNOV is a Options Trading fund actively managed by FT Vest, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, XNOV returned 11.63% vs 4.04% for CSHP. Their 0.04 correlation means their historical movements had little consistent relationship. XNOV charges 0.85%/yr vs 0.20%/yr for CSHP.
Performance
XNOV vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, XNOV achieves a 5.36% return, which is significantly higher than CSHP's 2.38% return.
XNOV
- 1D
- 0.28%
- 1M
- 0.72%
- 6M
- 4.70%
- YTD
- 5.36%
- 1Y
- 11.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.18%
CSHP
- 1D
- -0.27%
- 1M
- 0.35%
- 6M
- 2.06%
- YTD
- 2.38%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.53M | $7.29M | $2.60M | |
| $34.74K | $60.46K | $588.27K |
XNOV vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XNOV FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November | 5.36% | 11.32% | 2.49% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 2.38% | 4.10% | 2.24% |
Correlation
The correlation between XNOV and CSHP is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.00 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.04 |
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Return for Risk
XNOV vs. CSHP — Risk / Return Rank
XNOV
CSHP
XNOV vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV) 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.
| XNOV | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 2.68 | -1.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 10.40 | -7.31 |
| Martin ratioReturn relative to average drawdown | 17.85 | 65.72 | -47.87 |
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Drawdowns
XNOV vs. CSHP - Drawdown Comparison
The maximum XNOV drawdown since its inception was -10.00%, which is greater than CSHP's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for XNOV and CSHP.
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Drawdown Indicators
| XNOV | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.00% | -0.39% | -9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.60% | -0.39% | -3.21% |
Current DrawdownCurrent decline from peak | 0.00% | -0.27% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -0.49% | -0.01% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.06% | +0.56% |
Volatility
XNOV vs. CSHP - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV) is 0.77%, while iShares Enhanced Short-Term Bond Active ETF (CSHP) has a volatility of 1.10%. This indicates that XNOV experiences smaller price fluctuations and is considered to be less risky 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
| XNOV | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.10% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 1.12% | +2.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 1.14% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.78% | 0.86% | +5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 0.86% | +5.92% |
XNOV vs. CSHP - Expense Ratio Comparison
XNOV has a 0.85% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
XNOV vs. CSHP - Dividend Comparison
XNOV has not paid dividends to shareholders, while CSHP's dividend yield for the trailing twelve months is around 4.00%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.89% | 5.39% | 1.96% |
XNOV FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - November | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XNOV and CSHP have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSHP has higher volatility (1.10%) compared to XNOV (0.77%). In terms of maximum drawdown, XNOV dropped -10.00% vs CSHP's -0.39%.
On 1-year performance, XNOV leads with 11.63% vs 4.04% for CSHP. On fees, CSHP is cheaper at 0.20% per year. On volatility, XNOV has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XNOV has performed better with a 11.63% return vs 4.04%. 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 0.85% for XNOV.
CSHP has the higher dividend yield at 3.89%, compared with 0.00% for XNOV.
XNOV is categorized as Options Trading, while CSHP is Ultrashort Bond. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for XNOV and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (3.53 vs 2.55), 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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