ICSH — iShares Ultra Short Duration Bond Active ETF

ICSH Price Performance — Growth of $10,000

Value of a $10,000 investment in ICSH over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

ICSH Drawdown

The "underwater" chart: ICSH's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares Ultra Short Duration Bond Active ETF is an ultra-short cash instrument issued by iShares with $8.84 billion in assets under management. It holds a C grade and ranks 4th out of 9 peers in its category, placing it at #282 overall among all tracked ETFs. The fund’s 0.08% expense ratio sits below the category median of 0.15%, while its 4.13% dividend yield matches the peer average. Top holdings represent only 11.1% of assets, with the largest single position being BlackRock Funds III at 1.6%.

Returns have accelerated over longer horizons, with the 3-year return reaching 15.26% compared to a 1-year figure of 3.57%. This 1-year performance exactly matches the category median, indicating the fund has kept pace with its peers recently. Short-term momentum is evident in the 1-month return of 0.42% and a year-to-date gain of 2.75%. The share price currently trades at 35.2% of its 52-week range, reflecting a C grade that has remained unchanged over the last 35 tracked days. Historical data is available for only 3.0 years, limiting the depth of the long-term record.

The fund exhibits very low volatility at 0.44% annualized and a beta of 0.05, suggesting minimal sensitivity to broader market movements. Despite this stability, the Sharpe ratio of -3.26 indicates that risk-adjusted returns have been poor relative to the risk-free rate. Maximum drawdown was limited to -0.10%, underscoring the capital preservation nature of the strategy. Liquidity is supported by an average daily volume of 1,701,256 shares, facilitating easy entry and exit for investors.

AI-generated summary based on the data on this page.

ICSH Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 11.1% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how ICSH's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With ICSH

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with ICSH's top 10 — USIG overlaps most, holding 2 of the same companies as ICSH's top 10 (3.0% of ICSH's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ICSH Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 1.7M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $8.84B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: ICSH is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

ICSH Performance History

How ICSH Compares to Other Ultra-Short / Cash ETFs