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 (ICSH) operates within the Ultra-Short / Cash category, which currently contains 9 ETFs tracked by ETFValuer. Issued by iShares, the fund holds an asset base of $7.77 billion and trades at a price of $50.50 per share. It carries an expense ratio of 0.08% and offers a dividend yield of 4.33%. In the broader market of 458 tracked ETFs across all categories, ICSH holds an overall rank of #313 with an ETFValuer grade of C, reflecting a score of 55.7 out of 100. The substantial asset under management relative to the small category size suggests significant investor adoption for this specific strategy. Despite the high yield, the fund's ranking indicates it faces stiff competition or specific performance headwinds compared to the wider universe of available funds.

Over the most recent trading day, the fund posted a return of +0.02%, followed by a slight decline of -0.04% over the past week. Monthly performance showed acceleration with a +0.24% gain, which extended to +0.82% over the three-month period. This upward trajectory continued into the six-month horizon with a +1.69% return, while year-to-date gains reached +1.87%. The one-year return stands at +4.05%, and the three-year annualized return is recorded at +15.82%. The data reveals a consistent pattern of positive returns across all measured timeframes from one month through three years, with the magnitude of gains generally increasing as the investment horizon extends.

ICSH is assigned a Very Low volatility label and exhibits a beta of 0.04, indicating minimal sensitivity to broader market movements. Despite the low volatility and beta, the fund reports a Sharpe ratio of -2.16, suggesting that the risk-adjusted returns have been negative relative to the risk-free rate over the measurement period. The maximum drawdown recorded for the fund is -0.10%, which aligns with the low volatility profile and suggests limited downside severity during market stress. This combination of extremely low beta and drawdown with a negative Sharpe ratio implies that while the fund successfully avoided significant losses, its returns have not sufficiently compensated for the time value of money or risk taken. The fund appears designed to preserve capital with minimal fluctuation rather than to generate excess risk-adjusted returns.

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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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 2026-06-01) — 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 0.08% and average daily volume is 1.5M/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 $7.77B 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