CSHP vs VUSB: Grades, Fees and Holdings Compared

iShares Dynamic Short-Term Active ETF

CSHPBNYSE Arca

Vanguard Ultra-Short Bond ETF

VUSBACboe

Overlap

No data

Expense ratio

VUSB −0.10pt a year

CSHP0.20%VUSB0.10%

Avg volume · 30D

VUSB 46.1×the volume

CSHP42.8KVUSB1.97M

CSHP vs VUSB Performance

Oct 31, 2025 – Oct 30, 2026

+3.7%CSHP+3.7%VUSB

Expense ratio: CSHP 0.20%; VUSB 0.10%, better
Fund size: CSHP $382M; VUSB $9.9B
1Y total return: CSHP +3.7%; VUSB +3.7%
Yield (12M): CSHP 4.00%; VUSB 4.27%, better
Holdings: CSHP 547; VUSB 1348
Avg volume (30D): CSHP 42.8K sh; VUSB 1.97M sh, better
NAV per share: CSHP $99.76; VUSB $49.62
52W range

ETF.net Grade

Pillar letters and Scores for CSHP, VUSB, with each pillar’s weight
Pillar	CSHP	VUSB
Cost30% weight	D38	A84Higher
Mission25% weight	A100	A100
Risk15% weight	B55Higher	C53
Tradability15% weight	D36	B66Higher
Holdings10% weight	C46	A90Higher
Durability5% weight	B55	A89Higher

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Same Category. CSHP and VUSB 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 ›

VUSB ranks 3rd 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 3AVUSBVanguard Ultra-Short Bond ETFScore 81
Rank 4ATBLLInvesco Short Term Treasury ETFScore 80
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

VUSBAVanguard Ultra-Short Bond 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.

VUSB Vanguard's first actively managed bond ETF, run by its in-house fixed income team and priced at 0.10%. It holds investment-grade paper maturing inside two years: a step past a money fund, well short of a real bond fund.

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.

VUSB The fund seeks current income with limited price volatility while investing in diversified high- and medium-quality fixed-income securities. It expects to maintain a dollar-weighted average maturity of 0–2 years.

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.

VUSB At 0.10%, it costs half the typical ultra-short bond ETF and undercuts the other leaders in the group: SHV, PULS, FLDR and DUSB all charge 0.15%.
Active, not adventurous. The managers buy investment-grade bonds (A3-or-better high quality plus BBB-tier medium quality) and hold average maturity to zero-to-two years.vanguard.com
Income lands monthly, sourced from roughly 170 bonds, so no single issuer drives the outcome.
A multi-billion-dollar fund that trades actively, and the same portfolio team also runs a similar Vanguard ultra-short fund.vanguard.com

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.

VUSB This is not a money market fund. No fixed $1 share price, and the market price can trade above or below the value of the holdings.vanguard.com
The mandate allows BBB-tier credit, a notch of risk a Treasury-only neighbor like SHV doesn't take.vanguard.com
Bonds this short reprice with short-term rates, so the monthly payout drifts up and down instead of holding a set level.vanguard.com

Full CSHP profile⁠

Full VUSB profile⁠

CSHP vs VUSB Holdings

How CSHP and VUSB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile76.9%
Asset classFixed Income100%

Sector

No Sector split for VUSB.

Country, concentration and asset class

Country by domicile

Country weights in CSHP and VUSB, widest gap first
Country	More in CSHPMore in VUSB	CSHP	VUSB
United States	CSHP +23.1 points	100.0%	76.9%
Canada	VUSB +7.2 points	0.0%	7.2%
United Kingdom	VUSB +3.5 points	0.0%	3.5%
Cayman Islands	VUSB +2.5 points	0.0%	2.5%
Japan	VUSB +2.1 points	0.0%	2.1%
Germany	VUSB +1.7 points	0.0%	1.7%
Australia	VUSB +1.6 points	0.0%	1.6%
Switzerland	VUSB +1.0 points	0.0%	1.0%
Other countries (13)	VUSB +3.6 points	0.0%	3.6%

Concentration

Weight in the 10 largest Holdings

CSHP67.2%
VUSB11.2%

Securities held

CSHP538
VUSB1,342

Asset class

CSHP: Fixed Income
VUSB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. CSHP holds 538 securities, VUSB 1,342.

All 527 CSHP holdings⁠All VUSB 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 VUSB Cost

Overpaying CSHP vs VUSB

$2,049

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

CSHP 0.20%
$4,155
VUSB 0.10%
$2,106

Amount$10,000

Years30 years

Cost over time

CSHP 0.20%
VUSB 0.10%
Overpaying

Year by year

Year	CSHP	VUSB	Overpaying
10	$365	$183	$182
20	$1,421	$717	$704
30	$4,155	$2,106	$2,049

Expense ratio

0.20%CSHP
0.10%VUSB, cheaper

VUSB0.10%CSHP0.20%

0.03%1.00%

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

VUSB 13th cheapest of 78 funds

CSHP 45th cheapest of 78 funds

CSHP vs VUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CSHP 4.00%; VUSB 4.27%, better
Payout (12M): CSHP $3.98; VUSB $2.12
Last payment: CSHP $0.31; VUSB $0.18
Ex-dividend: CSHP Oct 1, 2026; VUSB Oct 1, 2026
Paid on: CSHP Oct 6, 2026; VUSB Oct 5, 2026
Frequency: CSHP Monthly; VUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

CSHPMonthly · 27 paymentsAll CSHP payments⁠

VUSBMonthly · 45 paymentsAll VUSB payments⁠

CSHP vs VUSB 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 2024VUSB 0.8%
Return per unit of riskSharpe ratio, 3 years: CSHP −0.36since Aug 2024VUSB 0.86
Worst fallMax drawdown, 5 years: CSHP −0.7%since Jul 2024VUSB −1.7%
Market sensitivityBeta, 5 years: CSHP 0.002VUSB 0.10; Market = 1

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