ICSH vs LBOX: Grades, Fees and Holdings Compared

iShares Ultra Short Duration Bond Active ETF

ICSHACboe

GraniteShares Short Term Box ETF

LBOX—Cboe

Overlap

0.0%by weight

Expense ratio

ICSH −0.05pt a year

ICSH0.08%LBOX0.13%

Avg volume · 30D

ICSH 425.0×the volume

ICSH1.64MLBOX3.87K

ICSH vs LBOX Performance

Sep 30, 2026 – Oct 30, 2026

+0.5%ICSH+0.4%LBOX

Expense ratio: ICSH 0.08%, better; LBOX 0.13%
Fund size: ICSH $8.97B; LBOX $3M
1Y total return: ICSH +3.6%; LBOX No data
Yield (12M): ICSH 4.13%; LBOX No data
Holdings: ICSH 408; LBOX 3
Avg volume (30D): ICSH 1.64M sh, better; LBOX 3.87K sh
NAV per share: ICSH $50.47; LBOX $25.19
52W range

ETF.net Grade

—LBOXNot yet graded

Pillar letters and Scores for ICSH, LBOX, with each pillar’s weight
Pillar	ICSH	LBOX
Cost30% weight	A89	Not scored
Mission25% weight	A100	Not scored
Risk15% weight	C53	Not scored
Tradability15% weight	A76	Not scored
Holdings10% weight	A95	Not scored
Durability5% weight	A90	Not scored

Rank among Cash & Ultra-Short Income funds

How we build Categories ›

Cash & Ultra-Short Income⁠

Category · 78 funds

See all 78 ›

ICSH ranks 1st 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
LBOXNot yet graded

Our read on each fund

ETF.net Research

ICSHAiShares Ultra Short Duration Bond Active ETF

LBOX—GraniteShares Short Term Box ETF

In short

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.

LBOX No data

Stated mandate

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.

LBOX No data

Why people hold it

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.

LBOX No data

Worth knowing

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.

LBOX No data

Full ICSH profile⁠

Full LBOX profile⁠

ICSH vs LBOX Holdings

How ICSH and LBOX differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of ICSH and 0.0% of LBOX.

Level by level

Asset classFixed Income, Equity0.0%
Sector21 Sectors0.0%
Holdings0 in both0.0%
Countryby domicile75.4%

Sector

Sector weights in ICSH and LBOX, widest gap first
Sector	More in ICSHMore in LBOX	ICSH	LBOX
Technology	LBOX +38.4 points	0.0%	38.4%
Financial Company Commercial Paper	ICSH +25.1 points	25.1%	0.0%
Floating Rate	ICSH +17.9 points	17.9%	0.0%
Certificate of Deposit	ICSH +15.7 points	15.7%	0.0%
Financials	LBOX +11.9 points	0.0%	11.9%
Tri-Party Repo	ICSH +10.4 points	10.4%	0.0%
Commercial Paper	ICSH +10.1 points	10.1%	0.0%
Health Care	LBOX +9.9 points	0.0%	9.9%
Communication	LBOX +9.2 points	0.0%	9.2%
Asset Backed Commercial Paper	ICSH +9.2 points	9.2%	0.0%
Consumer Discretionary	LBOX +9.1 points	0.0%	9.1%
Insurance Company Funding Agreement	ICSH +8.1 points	8.1%	0.0%
Industrials	LBOX +7.5 points	0.0%	7.5%
Consumer Staples	LBOX +4.8 points	0.0%	4.8%
Energy	LBOX +3.7 points	0.0%	3.7%
U.S. Treasury Debt	ICSH +3.1 points	3.1%	0.0%
Utilities	LBOX +2.0 points	0.0%	2.0%
Real Estate	LBOX +1.8 points	0.0%	1.8%
Materials	LBOX +1.6 points	0.0%	1.6%
Municipal Debt	ICSH +0.4 points	0.4%	0.0%
Investment Company	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in ICSH and LBOX, widest gap first
Country	More in ICSHMore in LBOX	ICSH	LBOX
United States	LBOX +24.1 points	75.4%	99.5%
Canada	ICSH +4.5 points	4.5%	0.0%
United Kingdom	ICSH +3.3 points	3.3%	0.0%
Australia	ICSH +3.1 points	3.1%	0.0%
Sweden	ICSH +3.1 points	3.1%	0.0%
New Zealand	ICSH +2.6 points	2.6%	0.0%
Japan	ICSH +1.4 points	1.4%	0.0%
Luxembourg	ICSH +1.3 points	1.3%	0.0%
Other countries (13)	ICSH +5.0 points	5.4%	0.4%

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

Concentration

Weight in the 10 largest Holdings

ICSH10.0%
LBOX100.0%

Securities held

ICSH407
LBOX2

Asset class

ICSH: Fixed Income
LBOX: Equity

Holdings

Only in ICSH407
In both0
Only in LBOX2

Only in ICSH

407 securities, 100% of ICSH by weight

Tri-Party Mizuho Securities Usa Ll1.52%
Tri-Party Citigroup Global Markets1.35%
Tri-Party Goldman Sachs & Co. Llc1.11%
Tri-Party Wells Fargo Securities L1.00%
Commerzbank AG (New York Branch) 06/23/20270.93%
Tri-Party Bofa Securities Inc.0.91%
Banco Bilbao Vizcaya Argentaria SA 03/10/20270.85%
Bpce SA 144A 05/06/20270.83%
Westpac Securities Nz Ltd 144A 06/09/20270.78%
Skandinaviska Enskilda Banken Ab 144A 05/10/20270.71%
Cooperatieve Rabobank Ua (New York 11/16/20260.69%
Britannia Funding Company Llc 144A 03/15/20270.66%
Svenska Handelsbanken Ab 144A 04/13/20270.66%
Mizuho Bank Ltd (New York Branch) 05/26/20270.64%
Northwestern Mutual Global Funding Mtn 144A 4.40% 03/30/20290.63%
Toyota Motor Credit Corp Mtn 4.25% 05/12/20280.63%
Cdp Financial Inc 144A 03/24/20270.62%
Sumitomo Mitsui Trust Bank Ltd (Ne 11/24/20260.61%
Morgan Stanley Private Bank Na 4.20% 11/17/20280.60%
Pacific Life Global Funding Ii Mtn 144A 4.30% 04/27/20290.59%
Salesforce Inc 4.50% 03/15/20280.59%
Bank of New Zealand 144A 04/16/20270.59%
Honeywell Aerospace Inc 3.90% 03/16/20280.59%
Athene Global Funding Mtn 144A 4.83% 05/09/20280.59%
New York Life Global Funding Mtn 144A 4.20% 04/20/20290.59%
Bank of New Zealand 144A 05/12/20270.58%
Bank of Nova Scotia 144A 05/20/20270.58%
Toronto-Dominion Bank (New York Br 09/17/20270.57%
Deutsche Bank AG (New York Branch) 05/05/20270.56%
Verto Capital Comp C 144A 01/19/20270.56%
Natixis (New York Branch) 05/12/20270.55%
Ubs AG (Stamford Branch) Mtn 4.28% 05/17/20270.55%
Canadian Imperial Bank of Commerce 02/05/20270.55%
Massmutual Global Funding Ii Mtn 144A 4.00% 01/22/20290.55%
Athene Global Funding Mtn 144A 4.80% 03/06/20280.54%
Tri-Party Bnp Paribas0.52%
Equitable America Global Funding Mtn 144A 4.30% 12/15/20280.52%
Cooperatieve Rabobank Ua (New York Mtn 4.37% 05/27/20270.52%
Federation Des Caisses Desjardins 144A 11/01/20270.52%
Nextera Energy Capital Holdings In 144A 11/03/20260.51%
JPMorgan Chase & Co Fxd-Frn 2.95% 02/24/20280.51%
Barclays Bank PLC (New York Branch 08/10/20270.51%
Treasury Note (2OLD) 4.13% 08/31/20280.50%
Crh America Finance Inc 144A 12/08/20260.48%
Mackinac Funding Co Llc 144A 03/08/20270.48%
Enbridge Inc 144A 11/06/20260.48%
Oversea-Chinese Banking Corporatio 144A 04/23/20270.47%
Ing Bank NV 144A 4.55% 07/07/20290.47%
Banco Santander SA 144A 05/04/20270.47%
Treasury Note 4.13% 10/31/20260.47%

Only in LBOX

2 securities, 99.0% of LBOX by weight

2SPY 11/20/2026 C500.0053.73%
2SPY 11/20/2026 P1000.0045.24%

Weight gaps

ICSH and LBOX share no securities.

All 251 ICSH holdings⁠All LBOX 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.

ICSH vs LBOX Cost

Overpaying LBOX vs ICSH

$1,138

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

ICSH 0.08%
$1,689
LBOX 0.1349%
$2,827

Amount$10,000

Years30 years

Cost over time

ICSH 0.08%
LBOX 0.1349%
Overpaying

Year by year

Year	ICSH	LBOX	Overpaying
10	$147	$247	$100
20	$575	$964	$389
30	$1,689	$2,827	$1,138

Expense ratio

0.08%ICSH, cheaper
0.13%LBOX

ICSH0.08%LBOX0.13%

0.03%1.00%

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

ICSH 10th cheapest of 78 funds

LBOX 17th cheapest of 78 funds

ICSH vs LBOX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ICSH 4.13%; LBOX No data
Payout (12M): ICSH $2.08; LBOX None
Last payment: ICSH $0.17; LBOX No data
Ex-dividend: ICSH Oct 1, 2026; LBOX No data
Paid on: ICSH Oct 6, 2026; LBOX No data
Frequency: ICSH Monthly; LBOX No data

Distribution history

Per share, 2023 to 2026, same scale for both

ICSHMonthly · 45 paymentsAll ICSH payments⁠

LBOXAll LBOX payments⁠

No distribution history available.

ICSH vs LBOX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ICSH 0.4%LBOX No data
Return per unit of riskSharpe ratio, 3 years: ICSH 0.87LBOX No data
Worst fallMax drawdown, 5 years: ICSH −0.7%LBOX No data
Market sensitivityBeta, 5 years: ICSH 0.04LBOX 0.00; Market = 1

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