CGUI vs ICSH: Grades, Fees and Holdings Compared

Capital Group Ultra Short Income ETF

CGUIBNYSE Arca

iShares Ultra Short Duration Bond Active ETF

ICSHACboe

Overlap

No data

Expense ratio

ICSH −0.10pt a year

CGUI0.18%ICSH0.08%

Avg volume · 30D

ICSH 9.1×the volume

CGUI183KICSH1.67M

CGUI vs ICSH Performance

Nov 4, 2025 – Nov 4, 2026

+3.9%CGUI+3.7%ICSH

Expense ratio: CGUI 0.18%; ICSH 0.08%, better
Fund size: CGUI $387M; ICSH $8.9B
1Y total return: CGUI +3.9%, better; ICSH +3.7%
Yield (12M): CGUI 3.82%; ICSH 4.12%, better
Holdings: CGUI 449; ICSH 404
Avg volume (30D): CGUI 183K sh; ICSH 1.67M sh, better
NAV per share: CGUI $25.22; ICSH $50.30
52W range

ETF.net Grade

Pillar letters and Scores for CGUI, ICSH, with each pillar’s weight
Pillar	CGUI	ICSH
Cost30% weight	C54	A89Higher
Mission25% weight	A100	A100
Risk15% weight	B55Higher	C50
Tradability15% weight	D37	A76Higher
Holdings10% weight	A80	A96Higher
Durability5% weight	B60	A91Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CGUI and ICSH are both graded against the same 78 Cash & Ultra-Short Income funds, so their Grades compare head to head.

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

ICSH ranks 1st and CGUI 27th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 84
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 25BTBUXT. Rowe Price Ultra Short-Term Bond ETFScore 68
Rank 27BCGUICapital Group Ultra Short Income ETFScore 66
Rank 27BEVSBEaton Vance Ultra-Short Income ETFScore 66

Our read on each fund

ETF.net Research

CGUIBCapital Group Ultra Short Income ETF

ICSHAiShares Ultra Short Duration Bond Active ETF

In short

CGUI Capital Group made its name on active bond and stock pickers, not index trackers. CGUI points that machinery at the dull end of the curve: investment-grade paper, duration held to a year or less, income paid monthly.

ICSH BlackRock's active cash-parking sleeve, live since 2013: roughly 250 ultra-short investment-grade bonds and money market instruments, run for current income with preservation of capital, at 0.08% a year.

Stated mandate

CGUI The fund seeks current income while maintaining an ultra-short duration profile and focusing on capital preservation.

ICSH The fund seeks current income consistent with preservation of capital through actively managed exposure to ultra-short-term investment-grade bonds and money market instruments.

Why people hold it

CGUI The rulebook is tight: an average portfolio duration of one year or less and a dollar-weighted average effective maturity of two years or less under normal conditions.sec.gov
At 0.18% a year it undercuts the typical cash-alternative fund and matches JPST, the category's most established name, on price.
Actively run, not an index copy. The 3-month T-bill index is the yardstick, not the shopping list, so managers can pick their spots across short corporate and securitized paper.capitalgroup.com
Income arrives monthly, spread across a couple hundred short-dated positions, and the fund sits in the upper half of its cash-alternative peer group.

ICSH At 0.08% a year it undercuts the typical cash-alternative ETF, which charges about 0.20%, and comes in below top-rated rivals like FLUD and JPST.
Actively managed rather than a fixed ladder: the team picks across ultra-short investment-grade bonds and money market instruments, spread over roughly 250 positions.ishares.com
Trading since 2013 and now a multi-billion-dollar fund that changes hands actively, giving it one of the longer records in the cash-alternative aisle.
Sits in the top quartile of its cash-alternative peer group, helped by high-quality holdings and low cost.

Worth knowing

CGUI It is a bond fund, not a money market fund. The share price moves, and on an exchange it can trade above or below the value of what it holds.capitalgroup.com
Launched in 2024, so the live record is short next to cash funds that have already traded through several rate cycles.
Cheaper shelf-mates exist: ICSH charges 0.08%, well under half the fee, with a different portfolio behind it.

ICSH Not a money market fund. The share price floats, and preservation of capital is the stated aim, not a promise.ishares.com
It holds investment-grade corporate paper alongside money market instruments, so it carries credit risk a Treasury-bill-only fund does not.ishares.com
It pays monthly, but the amount rides short-term rates, and as an active fund its results can drift from its 6-month T-bill reference index either way.

Full CGUI profile⁠

Full ICSH profile⁠

CGUI vs ICSH Holdings

How CGUI and ICSH differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector13 Sectors0.0%
Countryby domicile86.6%
Asset classFixed Income100%

Sector

Sector weights in CGUI and ICSH, widest gap first
Sector	Gap	CGUI	ICSH
Corporate	CGUI +51.8 points	51.8%	0.0%
Securitized	CGUI +25.6 points	25.6%	0.0%
Financial Company Commercial Paper	ICSH +25.1 points	0.0%	25.1%
Government	CGUI +22.6 points	22.6%	0.0%
Floating Rate	ICSH +17.9 points	0.0%	17.9%
Certificate of Deposit	ICSH +15.7 points	0.0%	15.7%
Tri-Party Repo	ICSH +10.4 points	0.0%	10.4%
Commercial Paper	ICSH +10.1 points	0.0%	10.1%
Asset Backed Commercial Paper	ICSH +9.2 points	0.0%	9.2%
Insurance Company Funding Agreement	ICSH +8.1 points	0.0%	8.1%
U.S. Treasury Debt	ICSH +3.1 points	0.0%	3.1%
Municipal Debt	ICSH +0.4 points	0.0%	0.4%
Investment Company	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in CGUI and ICSH, widest gap first
Country	Gap	CGUI	ICSH
Mexico	CGUI +3.5 points	3.5%	0.0%
United Kingdom	ICSH +2.9 points	0.4%	3.3%
New Zealand	ICSH +2.6 points	0.0%	2.6%
United States	CGUI +2.2 points	77.6%	75.4%
Canada	ICSH +2.2 points	2.3%	4.5%
Austria	CGUI +2.1 points	2.1%	0.0%
Singapore	CGUI +1.9 points	2.1%	0.2%
Sweden	ICSH +1.5 points	1.6%	3.1%
Other countries (13)	ICSH +0.6 points	10.4%	11.0%

Outside the US: CGUI 78% developed, 22% emerging. ICSH 98% developed, 2% emerging.

Concentration

Weight in the 10 largest Holdings

CGUI17.5%
ICSH10.1%

Securities held

CGUI439
ICSH404

Asset class

CGUI: Fixed Income
ICSH: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CGUI holds 439 securities, ICSH 404.

All 246 CGUI holdings⁠All 249 ICSH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CGUI vs ICSH Cost

Overpaying CGUI vs ICSH

$2,060

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CGUI 0.18%
$3,749
ICSH 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

CGUI 0.18%
ICSH 0.08%
Overpaying

Year by year

Year	CGUI	ICSH	Overpaying
10	$328	$147	$181
20	$1,281	$575	$706
30	$3,749	$1,689	$2,060

Expense ratio

0.18%CGUI
0.08%ICSH, cheaper

ICSH0.08%CGUI0.18%

0.03%1.00%

Middle half of Cash & Ultra-Short Income funds
Median 0.18%

ICSH 10th cheapest of 78 funds

CGUI 36th cheapest of 78 funds

CGUI vs ICSH Dividends

Last 12 months to Nov 4, 2026

Yield (12M): CGUI 3.82%; ICSH 4.12%, better
Payout (12M): CGUI $0.97; ICSH $2.07
Last payment: CGUI $0.09; ICSH $0.18
Ex-dividend: CGUI Oct 30, 2026; ICSH Nov 2, 2026
Paid on: CGUI Nov 2, 2026; ICSH Pays Nov 5, 2026
Frequency: CGUI Monthly; ICSH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CGUIMonthly · 28 paymentsAll CGUI payments⁠

ICSHMonthly · 46 paymentsAll ICSH payments⁠

CGUI vs ICSH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CGUI 0.5%since Jul 2024ICSH 0.4%
Return per unit of riskSharpe ratio, 3 years: CGUI 0.92since Jul 2024ICSH 0.87
Worst fallMax drawdown, 5 years: CGUI −0.2%since Jun 2024ICSH −0.7%
Market sensitivityBeta, 5 years: CGUI 0.02ICSH 0.04; Market = 1

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