CSHP vs ICSH: Grades, Fees and Holdings Compared

iShares Dynamic Short-Term Active ETF

CSHPBNYSE Arca

iShares Ultra Short Duration Bond Active ETF

ICSHACboe

Overlap

No data

Expense ratio

ICSH −0.12pt a year

CSHP0.20%ICSH0.08%

Avg volume · 30D

ICSH 38.4×the volume

CSHP42.8KICSH1.64M

CSHP vs ICSH Performance

Oct 31, 2025 – Oct 30, 2026

+3.7%CSHP+3.6%ICSH

Expense ratio: CSHP 0.20%; ICSH 0.08%, better
Fund size: CSHP $382M; ICSH $8.97B
1Y total return: CSHP +3.7%, better; ICSH +3.6%
Yield (12M): CSHP 4.00%; ICSH 4.13%, better
Holdings: CSHP 547; ICSH 408
Avg volume (30D): CSHP 42.8K sh; ICSH 1.64M sh, better
NAV per share: CSHP $99.76; ICSH $50.47
52W range

ETF.net Grade

Pillar letters and Scores for CSHP, ICSH, with each pillar’s weight
Pillar	CSHP	ICSH
Cost30% weight	D38	A89Higher
Mission25% weight	A100	A100
Risk15% weight	B55Higher	C53
Tradability15% weight	D36	A76Higher
Holdings10% weight	C46	A95Higher
Durability5% weight	B55	A90Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CSHP 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 CSHP 44th of 78 funds in the Cash & Ultra-Short Income Category.

Rank 1AICSHiShares Ultra Short Duration Bond Active ETFScore 85
Rank 2ACLIPGlobal X 1-3 Month T-Bill ETFScore 82
Rank 43BRAVINorthern Trust Ultra-Short Fixed Income ETFScore 58
Rank 44BCSHPiShares Dynamic Short-Term Active ETFScore 57
Rank 44BPMMFiShares Prime Money Market ETFScore 57

Our read on each fund

ETF.net Research

CSHPBiShares Dynamic Short-Term Active ETF

ICSHAiShares Ultra Short Duration Bond Active ETF

In short

CSHP Cash parking with a motor. BlackRock's actively managed short-term fund measures itself against 3-month T-bills and can reach across short-dated bonds and developed-market equities to try to clear that bar.

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

CSHP The Fund seeks total return above the ICE BofA 3-Month U.S. Treasury Bill Index through actively managed exposure to short-term fixed income securities and equities across global developed markets.

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

CSHP The hurdle is cash itself: it seeks total return above the ICE BofA 3-Month U.S. Treasury Bill Index.ishares.com
A wider toolkit than a T-bill fund: short-term fixed income plus equities across global developed markets.ishares.com
0.20% a year for active management, right at the going rate for an ultra-short bond fund.
Pays monthly, with the portfolio spread across roughly 500 positions instead of a handful of bills.

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

CSHP Passive rivals undercut it: VUSB charges 0.10% and SHV 0.15%, against 0.20% here.
The equity sleeve means it can move more than a pure T-bill fund, and a 2024 launch leaves little history across rate cycles.
One of the quieter tickers in the ultra-short aisle, so spreads can run wider than at the category's giants.

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 CSHP profile⁠

Full ICSH profile⁠

CSHP vs ICSH Holdings

How CSHP and ICSH differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector21 Sectors0.0%
Countryby domicile75.4%
Asset classFixed Income100%

Sector

Sector weights in CSHP and ICSH, widest gap first
Sector	More in CSHPMore in ICSH	CSHP	ICSH
Technology	CSHP +40.5 points	40.5%	0.0%
Financial Company Commercial Paper	ICSH +25.1 points	0.0%	25.1%
Floating Rate	ICSH +17.9 points	0.0%	17.9%
Certificate of Deposit	ICSH +15.7 points	0.0%	15.7%
Financials	CSHP +11.3 points	11.3%	0.0%
Tri-Party Repo	ICSH +10.4 points	0.0%	10.4%
Commercial Paper	ICSH +10.1 points	0.0%	10.1%
Communication	CSHP +10.0 points	10.0%	0.0%
Health Care	CSHP +9.2 points	9.2%	0.0%
Asset Backed Commercial Paper	ICSH +9.2 points	0.0%	9.2%
Consumer Discretionary	CSHP +8.8 points	8.8%	0.0%
Insurance Company Funding Agreement	ICSH +8.1 points	0.0%	8.1%
Industrials	CSHP +7.6 points	7.6%	0.0%
Consumer Staples	CSHP +4.3 points	4.3%	0.0%
Energy	CSHP +3.4 points	3.4%	0.0%
U.S. Treasury Debt	ICSH +3.1 points	0.0%	3.1%
Utilities	CSHP +1.9 points	1.9%	0.0%
Real Estate	CSHP +1.6 points	1.6%	0.0%
Materials	CSHP +1.6 points	1.6%	0.0%
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 CSHP and ICSH, widest gap first
Country	More in CSHPMore in ICSH	CSHP	ICSH
United States	CSHP +24.6 points	100.0%	75.4%
Canada	ICSH +4.5 points	0.0%	4.5%
United Kingdom	ICSH +3.3 points	0.0%	3.3%
Australia	ICSH +3.1 points	0.0%	3.1%
Sweden	ICSH +3.1 points	0.0%	3.1%
New Zealand	ICSH +2.6 points	0.0%	2.6%
Japan	ICSH +1.4 points	0.0%	1.4%
Luxembourg	ICSH +1.3 points	0.0%	1.3%
Other countries (10)	ICSH +5.4 points	0.0%	5.4%

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

Concentration

Weight in the 10 largest Holdings

CSHP67.2%
ICSH10.0%

Securities held

CSHP538
ICSH407

Asset class

CSHP: Fixed Income
ICSH: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CSHP holds 538 securities, ICSH 407.

All 527 CSHP holdings⁠All 251 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.

CSHP vs ICSH Cost

Overpaying CSHP vs ICSH

$2,466

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

CSHP 0.20%
$4,155
ICSH 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

CSHP 0.20%
ICSH 0.08%
Overpaying

Year by year

Year	CSHP	ICSH	Overpaying
10	$365	$147	$218
20	$1,421	$575	$846
30	$4,155	$1,689	$2,466

Expense ratio

0.20%CSHP
0.08%ICSH, cheaper

ICSH0.08%CSHP0.20%

0.03%1.00%

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

ICSH 10th cheapest of 78 funds

CSHP 45th cheapest of 78 funds

CSHP vs ICSH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CSHP 4.00%; ICSH 4.13%, better
Payout (12M): CSHP $3.98; ICSH $2.08
Last payment: CSHP $0.31; ICSH $0.17
Ex-dividend: CSHP Oct 1, 2026; ICSH Oct 1, 2026
Paid on: CSHP Oct 6, 2026; ICSH Oct 6, 2026
Frequency: CSHP Monthly; ICSH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CSHPMonthly · 27 paymentsAll CSHP payments⁠

ICSHMonthly · 45 paymentsAll ICSH payments⁠

CSHP vs ICSH Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CSHP 0.4%since Aug 2024ICSH 0.4%
Return per unit of riskSharpe ratio, 3 years: CSHP −0.36since Aug 2024ICSH 0.87
Worst fallMax drawdown, 5 years: CSHP −0.7%since Jul 2024ICSH −0.7%
Market sensitivityBeta, 5 years: CSHP 0.002ICSH 0.04; Market = 1

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