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 iShares-managed fund tracking the Ultra-Short / Cash category, where it holds the fourth position among nine peers. With $8.65 billion in assets, the fund carries a C grade and an expense ratio of 0.08%, which sits below the category median of 0.15%. Its dividend yield of 4.20% is slightly higher than the 4.19% median, reflecting its income profile. The fund’s top ten holdings represent only 11.6% of assets, with the largest single position being BlackRock Funds III at 2.0%.

Price action shows the fund trading at 10.3% of its 52-week range, indicating a position near the lower end of recent historical bounds. Short-term returns have accelerated, with the one-month gain of 0.30% leading to a 3M return of 0.97% and a 1Y return of 3.87%. This one-year performance of 3.87% exceeds the category median of 3.80%, though the longer three-year return of 15.66% suggests a different historical context. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, and price history is available for only 3.0 years.

Risk metrics indicate a very low volatility profile, with an annualized standard deviation of 0.43% and a beta of 0.04. The maximum drawdown of -0.10% further underscores the limited downside exposure recorded in the data. However, the Sharpe ratio of -2.64 suggests that risk-adjusted returns have been negative relative to the risk-free rate during the measurement period. Liquidity is characterized by an average daily volume of 1,561,079 shares but a wide bid/ask spread of 6.11%, which may impact trading costs.

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

ICSH Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 11.6% 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 — LQD overlaps most, holding 2 of the same companies as ICSH's top 10 (3.3% 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: 4.77% (as of 2026-09-03) — 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): 14.32 (as of 2026-09-03) — 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: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

ICSH Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 6.11% and average daily volume is 1.6M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $8.65B 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