iShares Ultra Short Duration Bond Active ETF (ICSH)


Market Price (9/11/2026): $50.39

iShares Ultra Short Duration Bond Active ETF (ICSH)


Market Price (9/11/2026): $50.39

Key Takeaways

  • ICSH has returned +2.0% YTD vs +11.4% for SPY; +3.4% over the past 12 months (SPY +17.2%). details →
  • Priced in gold, ICSH has returned -50.1% over the past 3 years, vs +15.2% in dollars — its dollar gains have lagged gold. details →
  • Over the past month, ICSH has seen net inflows of +$414M (+4.8% of assets). details →
  • ICSH is trading at an all-time high. details →
  • Risk-adjusted returns beat SPY: 3-year Sharpe ratio of 1.4 vs 1.0. details →
Last updated: 9/10/2026.

Price Chart

Asset Allocation with ICSH

Risk Tolerance:
ConservativeModerateAggressive
Moderate — 55% equity / 25% bonds / 20% alternatives
10Y Return (ann.)
+11.7%
Volatility
10.8%
Sharpe
0.82
YTD
+8.1%
Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

Learn More →
Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance
Learn More →
Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for ICSH

Total Weights
Top 5: 4.4% | Top 10: 7.8% | Top 20: 11.5%

HoldingETF Weight
TRI-PARTY BOFA SECURITIES INC.0.93%
31622GJH1FIDELITY NATL INFO SERV 144A 09/17/20260.99%
05971MGX7BANCO BILBAO VIZCAYA ARGENTARIA SA 03/10/20270.85%
05571CS69BPCE SA 144A 05/06/20270.84%
96122HT94WESTPAC SECURITIES NZ LTD 144A 06/09/20270.79%
83050USA7SKANDINAVISKA ENSKILDA BANKEN AB 144A 05/10/20270.71%
21684X5Y8COOPERATIEVE RABOBANK UA (NEW YORK 11/16/20260.70%
86960KRD6SVENSKA HANDELSBANKEN AB 144A 04/13/20270.67%
66815L3A5NORTHWESTERN MUTUAL GLOBAL FUNDING MTN 144A 4.40% 03/30/20290.65%
60701AEH2MIZUHO BANK LTD (NEW YORK BRANCH) 05/26/20270.65%
89236TPZ2TOYOTA MOTOR CREDIT CORP MTN 4.25% 05/12/20280.63%
12509TQQ3CDP FINANCIAL INC 144A 03/24/20270.63%
86564TUM3SUMITOMO MITSUI TRUST BANK LTD (NE 11/24/20260.62%
79466LAQ7SALESFORCE INC 4.50% 03/15/20280.61%
6944PL3P2PACIFIC LIFE GLOBAL FUNDING II MTN 144A 4.30% 04/27/20290.61%
7497MBKM3RWE AG 144A 10/21/20260.61%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ICSH Return0%1%6%6%5%2%21%
Peers Return-0%1%5%5%4%2%20%
S&P 500 Return27%-19%24%23%16%12%103%

Monthly Win Rates [3]
ICSH Win Rate67%50%100%100%100%89% 
Peers Win Rate38%72%100%100%100%89% 
S&P 500 Win Rate75%42%67%75%67%44% 

Max Drawdowns [4]
ICSH Max Drawdown-0%-1%-0%-0%-0%-0% 
Peers Max Drawdown-0%-0%-0%-0%-0%-0% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: SGOV, BIL, JPST, SHV, USFR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/10/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker1Y3Y5Y
ICSH-1.071.430.10
Cash Top Results (3Y)   
ICSH-1.071.430.10
JPST-0.921.21-0.04
SGOV-3.131.06-0.34
TFLO-1.380.830.10
SHV-3.270.69-1.04

Results as of 8312026.

Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

TickerNameDip %Mkt PricePrice DatePeak PricePeak Date# Days
QQQInvesco QQQ Trust, Series 1-5.0%708.699102026746.166022026100
QQQMInvesco NASDAQ 100 ETF-5.0%291.809102026307.236022026100
QQEWFirst Trust Nasdaq-100 Select Equal Weight ETF-6.2%156.659102026167.03813202628
IJHiShares Core S&P Mid-Cap ETF-6.1%73.86910202678.67816202625
IWRiShares Russell Mid-Cap ETF-5.1%108.969102026114.82816202625
MDYState Street SPDR S&P MIDCAP 400 ETF Trust-6.1%673.259102026716.91816202625
SCHMSchwab U.S. Mid-Cap ETF-5.4%34.89910202636.87630202672
IVOOVanguard S&P Mid-Cap 400 ETF-6.1%125.019102026133.08816202625
IJRiShares Core S&P Small-Cap ETF-6.0%141.449102026150.44816202625
VBVanguard Small-Cap ETF-5.9%291.189102026309.29816202625
IWMiShares Russell 2000 ETF-5.7%287.709102026305.09816202625
SCHASchwab U.S. Small-Cap ETF-6.9%33.65910202636.13630202672
VTWOVanguard Russell 2000 ETF-5.7%116.349102026123.31816202625
DFASDimensional U.S. Small Cap ETF-5.3%80.01910202684.48816202625
ESMLiShares ESG Aware MSCI USA Small-Cap ETF-5.7%53.41910202656.64816202625
NUSCNuveen ESG Small-Cap ETF-6.5%49.80910202653.27816202625
IWFiShares Russell 1000 Growth ETF-5.8%121.329102026128.776012026101
VONGVanguard Russell 1000 Growth ETF-5.7%124.849102026132.356012026101
AKREAkre Focus ETF-8.8%56.38910202661.85830202611
IWPiShares Russell Mid-Cap Growth ETF-7.5%136.689102026147.70817202624
VOTVanguard Mid-Cap Growth ETF-6.8%292.759102026314.02816202625
IJKiShares S&P Mid-Cap 400 Growth ETF-7.2%110.559102026119.11817202624
MDYGState Street SPDR S&P 400 Mid Cap Growth ETF-7.2%105.509102026113.69817202624
IWOiShares Russell 2000 Growth ETF-7.6%365.679102026395.65816202625
VBKVanguard Small-Cap Growth ETF-7.7%337.989102026366.24817202624
IJTiShares S&P Small-Cap 600 Growth ETF-7.5%165.679102026179.07804202637
SLYGState Street SPDR S&P 600 Small Cap Growth ETF-7.5%110.569102026119.50804202637
IJJiShares S&P Mid-Cap 400 Value ETF-5.0%144.079102026151.67816202625
IEMGiShares Core MSCI Emerging Markets ETF-5.1%81.58910202686.00622202680
EEMiShares MSCI Emerging Markets ETF-5.9%67.00910202671.21622202680
ASHRXtrackers Harvest CSI 300 China A-Shares ETF-9.9%33.62910202637.30622202680
EWYiShares MSCI South Korea ETF-16.6%182.789102026219.20621202681
EWZiShares MSCI Brazil ETF-7.6%38.56910202641.734142026149
FXIiShares China Large-Cap ETF-10.2%34.35910202638.265132026120
KWEBKraneShares CSI China Internet ETF-20.2%24.44910202630.643162026178
NOBLProShares S&P 500 Dividend Aristocrats ETF-5.1%56.08910202659.07824202617
MTUMiShares MSCI USA Momentum Factor ETF-12.2%303.159102026345.22622202680
SPHQInvesco S&P 500 Quality ETF-7.0%83.75910202690.10630202672
FNDASchwab Fundamental U.S. Small Company ETF-6.0%36.19910202638.52816202625
SPMOInvesco S&P 500 Momentum ETF-8.7%147.539102026161.66622202680
URAGlobal X Uranium ETF-22.8%45.00910202658.265062026127
BOTZGlobal X Funds Global X Robotics & Artificial Intelligence ETF-16.5%34.76910202641.635132026120
ROBOROBO Global Robotics & Automation Index ETF-13.9%77.82910202690.346022026100
LITGlobal X Lithium & Battery Tech ETF-21.6%71.81910202691.625112026122
ICLNiShares Global Clean Energy ETF-25.0%17.82910202623.756022026100
ARKQARK Autonomous Technology & Robotics ETF-16.2%120.499102026143.825282026105
ARKXARK Space & Defense Innovation ETF-16.1%31.66910202637.745282026105
NASATema Space Innovators ETF-45.0%23.04910202641.895272026106
AGIXKraneShares Artificial Intelligence ETF-8.3%45.28910202649.406012026101
DRSKAptus Defined Risk ETF-6.1%27.86910202629.676012026101
GDEWisdomTree Efficient Gold Plus Equity Strategy Fund-8.1%65.53910202671.30825202616
XLKState Street Technology Select Sector SPDR ETF-6.6%185.229102026198.216022026100
XLVState Street Health Care Select Sector SPDR ETF-5.7%165.669102026175.68819202622
XLIState Street Industrial Select Sector SPDR ETF-8.6%170.559102026186.51816202625
XLCState Street Communication Services Select Sector SPDR ETF-6.4%111.509102026119.104192026144
XLYState Street Consumer Discretionary Select Sector SPDR ETF-8.3%111.969102026122.065282026105
XLUState Street Utilities Select Sector SPDR ETF-9.8%42.52910202647.154092026154
XLBState Street Materials Select Sector SPDR ETF-5.4%50.76910202653.67826202615
VHTVanguard Health Care ETF-5.5%311.279102026329.48819202622
IYJiShares U.S. Industrials ETF-7.8%156.539102026169.86804202637
IYMiShares U.S. Basic Materials ETF-5.3%186.039102026196.45825202616
SMHVanEck Semiconductor ETF-16.2%560.289102026668.91622202680
SOXXiShares Semiconductor ETF-21.0%517.439102026655.01622202680
IBBiShares Biotechnology ETF-6.6%202.649102026216.96819202622
XBIState Street SPDR S&P Biotech ETF-7.5%156.829102026169.55819202622
ITAiShares U.S. Aerospace & Defense ETF-13.8%218.329102026253.22816202625
IGViShares Expanded Tech-Software Sector ETF-8.3%101.209102026110.32827202614
IYTiShares U.S. Transportation ETF-8.9%82.03910202690.01716202656
KREState Street SPDR S&P Regional Banking ETF-5.3%73.81910202677.93816202625
MISLFirst Trust Indxx Aerospace & Defense ETF-14.0%42.29910202649.195282026105
RINGiShares MSCI Global Gold Miners ETF-9.2%84.56910202693.17825202616
SOXQInvesco PHLX Semiconductor ETF-20.5%91.479102026115.11622202680
TLTiShares 20+ Year Treasury Bond ETF-6.9%80.78910202686.78629202673
VGLTVanguard Long-Term Treasury ETF-5.9%51.88910202655.12629202673
SPTLState Street SPDR Portfolio Long Term Treasury ETF-6.2%24.70910202626.33629202673
TLHiShares 10-20 Year Treasury Bond ETF-5.5%95.049102026100.56629202673
EDVVanguard World Funds Extended Duration ETF-10.1%58.85910202665.43624202678
VCLTVanguard Long-Term Corporate Bond ETF-5.7%70.62910202674.85629202673
SPLBState Street SPDR Portfolio Long Term Corporate Bond ETF-6.1%21.03910202622.40629202673
IGLBiShares 10+ Year Investment Grade Corporate Bond ETF-6.0%47.07910202650.05629202673
LMUBiShares Long-Term National Muni Bond ETF-6.4%47.74910202651.00705202667
GSGiShares GSCI Commodity-5.8%30.01910202631.853182026176
GLDSPDR Gold Trust-15.1%396.369102026466.883122026182
IAUiShares Gold Trust-13.5%82.69910202695.653122026182
GLDMSPDR Gold MiniShares Trust-15.0%85.519102026100.603122026182
SGOLETFS Physical Swiss Gold Shares-7.8%44.66910202648.433122026182
BARDirexion Daily Gold Bull 3X Shares-11.4%44.34910202650.063122026182
SLViShares Silver Trust-23.5%60.72910202679.355132026120
PPLTETFS Physical Platinum Shares-17.5%16.13910202619.555132026120
CPERUnited States Copper Index Fund ETV-6.6%33.33910202635.693162026178
PALLETFS Physical Palladium Shares-21.0%23.23910202629.413122026182
UNGUnited States Natural Gas Fund LP-21.9%10.19910202613.043122026182
BNOUnited States Brent Oil Fund LP ETV-7.1%55.85910202660.135042026129
VNQVanguard Real Estate ETF-6.8%94.129102026100.95728202644
XLREState Street Real Estate Select Sector SPDR ETF-6.4%43.05910202646.01728202644
SCHHSchwab U.S. REIT ETF-7.2%23.06910202624.86726202646
IYRiShares U.S. Real Estate ETF-6.8%99.979102026107.26728202644
REETiShares Global REIT ETF-6.9%26.89910202628.89726202646
USRTiShares Core U.S. REIT ETF-8.0%64.22910202669.82726202646
IBITiShares Bitcoin Trust ETF-6.0%43.68910202646.475112026122
FBTCFidelity Wise Origin Bitcoin Fund-6.0%67.06910202671.355112026122

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-09-10

Asset allocation rotation · Past month

  • Bond ETFs drew the largest net inflows (+$16.2B), followed by Equity (+$15.4B), while Real Estate (−$520M) saw the largest outflows.
  • Within the mix, money rotated into Short Treasury (+$9.1B) and out of US Large Cap Core (−$18.4B).
  • Relative to fund size, CNEQ drew the largest inflow (+79.2% of AUM) and SNXX the largest outflow (−41.2%).
Largest inflows
#TickerNameTypeNet flow% of AUM
1VOOVanguard S&P 500 ETFEquity US Large Cap Core+$43.65B+4.2%
2VTIVanguard Morningstar Total Stock Market ETFEquity US Total Market+$7.65B+1.1%
3SGOViShares 0-3 Month Treasury Bond ETFCash+$7.49B+7.1%
4VGSHVanguard Short-Term Treasury ETFBond Short Treasury+$4.68B+14.9%
5GLDSPDR Gold SharesCommodity Gold+$4.19B+2.8%
6SCHDSchwab U.S. Dividend Equity ETFEquity Dividend Income+$3.83B+3.4%
7AVLVAvantis U.S. Large Cap Value ETFOther+$3.78B+17.5%
8TLTiShares 20+ Year Treasury Bond ETFBond Long Treasury+$3.65B+7.8%
9VXUSVanguard Total International Stock ETFEquity International Broad+$3.31B+2.0%
10IBITiShares Bitcoin Trust ETFCrypto+$2.8B+4.6%
Largest outflows
#TickerNameTypeNet flow% of AUM
1IVViShares Core S&P 500 ETFEquity US Large Cap Core-$59.47B-6.7%
2SPYMState Street SPDR Portfolio S&P 500 ETFEquity US Large Cap Core-$4.97B-2.9%
3LQDiShares iBoxx $ Investment Grade Corporate Bond ETFBond Intermediate Corporate-$4.14B-12.6%
4XLFState Street Financial Select Sector SPDR ETFEquity Broad Sector-$3.42B-6.2%
5HYGiShares iBoxx $ High Yield Corporate Bond ETFBond High Yield Corporate-$3.03B-18.4%
6VGITVanguard Intermediate-Term Treasury ETFBond Intermediate Treasury-$2.47B-5.8%
7DRAMRoundhill Memory ETFOther-$2.14B-8.2%
8GOVTiShares U.S. Treasury Bond ETFBond Intermediate Treasury-$1.82B-4.2%
9XLKState Street Technology Select Sector SPDR ETFEquity Broad Sector-$1.18B-1.0%
10EWYiShares MSCI South Korea ETFEquity Emerging Markets-$1.06B-3.8%

Largest ETF fund flows across ~2646 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About ICSH

0Holdings Count: 244
Expense Ratio: 0.08%
Inception Date: 2013-12-10
iShares Ultra Short Duration Bond Active ETF
This ETF aims to deliver a steady stream of income while also prioritizing the protection of investors' principal.
Asset Class: Fixed Income | ETF Website

Recent Active Movers

Peer Comparisons

Peers to compare with:

Profile

ICSHSGOVBILJPSTSHVUSFRMedian
NameiShares Ul.iShares 0-.State Stre.JPMorgan U.iShares Tr.WisdomTree. 
Asset ClassCashCashCashCashCashCash-
AUM ($ Bil)8.6106.746.541.320.918.831.1
Expense Ratio0.08%0.09%0.14%0.18%0.15%0.15%0.15%
10-D Avg Volume (Mil)1.5220.789.736.392.614.985.68
Latest Day Volume (Mil)-19.848.289.805.135.348.28
Holdings Count244243379314628
Inception Date12/10/20135/25/20205/25/20075/17/20171/4/20072/4/2014-

Fundamentals

ICSHSGOVBILJPSTSHVUSFRMedian
NameiShares Ul.iShares 0-.State Stre.JPMorgan U.iShares Tr.WisdomTree. 
Net Asset Value50.37100.4191.4150.36110.0650.39-
Premium/Discount0.0%0.1%0.1%-0.0%0.1%0.1%0.1%
Distribution Yield0.0%3.7%3.7%4.2%3.7%3.7%3.7%
Sales Yield-------
Earnings Yield-------

Valuation

ICSHSGOVBILJPSTSHVUSFRMedian
NameiShares Ul.iShares 0-.State Stre.JPMorgan U.iShares Tr.WisdomTree. 
P/S (TTM)-------
P/E (TTM)-------
P/FCF (TTM)-------
Forward P/E-------
Forward P/S-------

Risk

ICSHSGOVBILJPSTSHVUSFRMedian
NameiShares Ul.iShares 0-.State Stre.JPMorgan U.iShares Tr.WisdomTree. 
Volatility (1Y)0.5%0.3%0.4%0.6%0.4%0.4%0.4%
Volatility (3Y)0.5%0.3%0.3%0.6%0.3%0.4%0.3%
Volatility (5Y)0.5%0.3%0.3%0.6%0.3%0.4%0.4%
Beta (1Y)0.01-0.000.000.010.00-0.000.00
Beta (3Y)0.000.00-0.000.000.00-0.000.00
Beta (5Y)0.00-0.000.000.000.00-0.000.00
Sharpe Ratio (1Y)6.119.868.995.119.038.288.64
Sharpe Ratio (3Y)9.8015.6714.697.9514.5012.0513.27
Sharpe Ratio (5Y)7.1413.1911.855.9210.588.979.78
Max Drawdown (1Y)-0.3%-0.3%-0.3%-0.4%-0.3%-0.3%-0.3%
Max Drawdown (3Y)-0.3%-0.3%-0.3%-0.4%-0.3%-0.3%-0.3%
Max Drawdown (5Y)-0.7%-0.3%-0.3%-0.8%-0.4%-0.3%-0.3%

Returns

ICSHSGOVBILJPSTSHVUSFRMedian
NameiShares Ul.iShares 0-.State Stre.JPMorgan U.iShares Tr.WisdomTree. 
1M Return-0.2%-0.0%-0.0%-0.2%-0.0%0.0%-0.0%
3M Return0.5%0.6%0.6%0.5%0.6%0.6%0.6%
6M Return1.3%1.5%1.5%1.3%1.4%1.6%1.5%
YTD Return2.0%2.2%2.2%1.9%2.1%2.3%2.1%
1Y Return3.4%3.5%3.4%3.3%3.3%3.7%3.4%
2Y Return8.6%8.2%8.0%8.5%8.0%8.5%8.3%
3Y Return15.3%14.1%13.8%15.5%13.8%14.3%14.2%

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity1.3 Mil
Short Interest: % Change Since 7312026-72.5%
Average Daily Volume1.4 Mil
Days-to-Cover Short Interest1