XOEF vs. CSHP

Last updated Jul 12, 2026

XOEF (iShares S&P 500 ex S&P 100 ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - XOEF is a S&P 500 fund tracking the S&P 500 Ex-S&P 100 Select Index, while CSHP is a Ultrashort Bond fund actively managed by iShares. XOEF is passively managed, while CSHP is actively managed. Over the past year, XOEF returned 21.69% vs 3.94% for CSHP. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.20% expense ratio.

Performance

XOEF vs. CSHP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) and iShares Enhanced Short-Term Bond Active ETF (CSHP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOEF achieves a 16.51% return, which is significantly higher than CSHP's 2.09% return.

XOEF

• 1D: 0.10%
• 1M: 2.31%
• 6M: 12.08%
• YTD: 16.51%
• 1Y: 21.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHP

• 1D: -0.02%
• 1M: 0.38%
• 6M: 1.98%
• YTD: 2.09%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XOEF vs. CSHP - Yearly Performance Comparison

	2026 (YTD)	2025
XOEF iShares S&P 500 ex S&P 100 ETF	16.51%	4.27%
CSHP iShares Enhanced Short-Term Bond Active ETF	2.09%	1.87%

Correlation

The correlation between XOEF and CSHP is -0.07, 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	-0.07
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	-0.07

Return for Risk

XOEF vs. CSHP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XOEF

XOEF Risk / Return Rank: 65
XOEF Sharpe Ratio Rank: 61
XOEF Sortino Ratio Rank: 63
XOEF Omega Ratio Rank: 58
XOEF Calmar Ratio Rank: 69
XOEF Martin Ratio Rank: 72

CSHP

CSHP Risk / Return Rank: 99
CSHP Sharpe Ratio Rank: 99
CSHP Sortino Ratio Rank: 99
CSHP Omega Ratio Rank: 99
CSHP Calmar Ratio Rank: 99
CSHP Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XOEF vs. CSHP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) 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.

	XOEF	CSHP	Difference
Sharpe ratio: Return per unit of total volatility	1.64	8.28	-6.64
Sortino ratio: Return per unit of downside risk	2.35	15.31	-12.97
Omega ratio: Gain probability vs. loss probability	1.28	4.94	-3.65
Calmar ratio: Return relative to maximum drawdown	2.75	19.49	-16.75
Martin ratio: Return relative to average drawdown	10.64	224.95	-214.31

XOEF vs. CSHP - Sharpe Ratio Comparison

The current XOEF Sharpe Ratio is 1.64, which is lower than the CSHP Sharpe Ratio of 8.28. The chart below compares the historical Sharpe Ratios of XOEF and CSHP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XOEF vs. CSHP - Drawdown Comparison

The maximum XOEF drawdown since its inception was -7.66%, which is greater than CSHP's maximum drawdown of -0.21%. Use the drawdown chart below to compare losses from any high point for XOEF and CSHP.

Drawdown Indicators

	XOEF	CSHP	Difference
Max Drawdown Largest peak-to-trough decline	-7.66%	-0.21%	-7.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-0.21%	-7.45%
Current Drawdown Current decline from peak	-0.70%	-0.02%	-0.68%
Average Drawdown Average peak-to-trough decline	-1.26%	-0.01%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	0.02%	+1.96%

Volatility

XOEF vs. CSHP - Volatility Comparison

iShares S&P 500 ex S&P 100 ETF (XOEF) has a higher volatility of 4.28% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.37%. This indicates that XOEF'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.

Volatility by Period

	XOEF	CSHP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	0.37%	+3.91%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	0.43%	+9.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	0.48%	+12.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.83%	0.47%	+12.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.83%	0.47%	+12.36%

XOEF vs. CSHP - Expense Ratio Comparison

Both XOEF and CSHP have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XOEF vs. CSHP - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 1.04%, less than CSHP's 4.01% yield.

Position	TTM	2025	2024
CSHP iShares Enhanced Short-Term Bond Active ETF	4.01%	5.39%	1.96%
XOEF iShares S&P 500 ex S&P 100 ETF	1.04%	0.63%	0.00%

Frequently Asked Questions

Can I hold both XOEF and CSHP in my portfolio?

XOEF and CSHP have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOEF or CSHP?

XOEF has higher volatility (4.28%) compared to CSHP (0.37%). In terms of maximum drawdown, XOEF dropped -7.66% vs CSHP's -0.21%.

Which ETF is better, XOEF or CSHP?

On 1-year performance, XOEF leads with 21.69% vs 3.94% for CSHP. Both ETFs have the same 0.20% expense ratio. On volatility, CSHP has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOEF or CSHP?

Over the 1-year period, XOEF has performed better with a 21.69% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOEF or CSHP?

XOEF and CSHP have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, XOEF or CSHP?

CSHP has the higher dividend yield at 4.01%, compared with 1.04% for XOEF.

What is the main difference between XOEF and CSHP?

XOEF is categorized as S&P 500, while CSHP is Ultrashort Bond.

Which has better risk-adjusted returns?

CSHP currently has the higher Sharpe Ratio (8.28 vs 1.64), 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.