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GSY vs ICSH: Differences, Returns & Fees

On Jul 31, 2026 GSY's duration was 0.8 years and ICSH's 0.7; ICSH charges 0.08% to GSY's 0.22%. Net assets on Oct 20, 2026: $4.0bn for Invesco Ultra Short Duration ETF and $9.0bn for iShares Ultra Short Duration Bond Active ETF.

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Ask IQ about GSY and ICSH

Answers cite the figures on this page.

ICSH costs 0.14 points a year less; their one-year returns differ by 0.2 points; ICSH is 2.2 times larger.

GSY vs ICSH: Differences, Returns & Fees
GSYICSH
Expense ratio0.22%0.08%
Net assets$4.0bn$9.0bn
Total return, 1 year+3.7%+3.5%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common5%

Holdings in common uses holdings dated Jul 31, 2026.

+3.7%
GSY total return, 1 year
+3.5%
ICSH total return, 1 year
0.22%
GSY expense ratio
0.08%
ICSH expense ratio

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Client brief · page 1 of 2Report BR-96142175CA

GSY and ICSH are built for the same job. How do they differ in cost, holdings and results?

  1. Holdings in common. 5% of the weight is in the same securities (holdings dated Jul 31, 2026).
  2. Cost. GSY charges 0.22% of assets a year and ICSH 0.08%, a gap of 0.14 points.
  3. What each follows (similar). Both follow No index, actively managed.

Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.

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What they hold in common

By the books each fund has filed, GSY and ICSH hold 5% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

half

5% in common

Positions both hold, largest shared weight first
Holding GSY ICSH
JPMorgan Chase & Co., due Feb 24, 2028 0.46% 0.56%
Lowe`s Cos., Inc., due Oct 15, 2027 0.51% 0.39%
Equitable America Global Funding, due Dec 15, 2028 0.38% 0.57%
Salesforce, Inc., due Mar 15, 2028 0.33% 0.65%
Protective Life Global Funding, due Sep 11, 2028 0.33% 0.37%
U.S. Treasury Notes/Bonds, due May 31, 2028 1.14% 0.31%
Wells Fargo & Co., due May 20, 2029 0.38% 0.23%
Metropolitan Life Global Funding I, due Apr 13, 2028 0.29% 0.23%
Nissan Auto Lease Trust, Series 2026-A, Class A2B, due May 15, 2028 0.31% 0.20%
Morgan Stanley, due Jul 12, 2029 0.20% 0.21%
Mars, Inc., due Mar 1, 2027 0.19% 0.22%
Citibank N.A., due Dec 4, 2026 0.25% 0.19%
Only in GSY
U.S. Treasury Bills, due May 13, 2027 1.24%
U.S. Treasury Notes/Bonds, due Jun 30, 2028 1.02%
American Tower Corp., due Jan 15, 2027 0.66%
Amazon.com, Inc., due Jul 9, 2029 0.64%
Jefferies Financial Group Inc., due Sep 15, 2026 0.64%
Haleon US Capital LLC, due Mar 24, 2027 0.63%
NatWest Group PLC, due Mar 1, 2028 0.53%
GA Global Funding Trust, due Sep 23, 2027 0.53%
Only in ICSH
Banco Bilbao Vizcaya Argentaria/New York NY, due Mar 10, 2027 0.91%
BPCE SA, due May 6, 2027 0.91%
Marubeni Finance America LLC, due Aug 7, 2026 0.77%
Cooperatieve Rabobank UA/NY, due Nov 16, 2026 0.74%
Svenska Handelsbanken AB, due Apr 13, 2027 0.72%
Northwestern Mutual Global Funding, due Mar 30, 2029 0.70%
MIZUHO BK LTD NEW YORK BRH INS, due May 26, 2027 0.70%
Toyota Motor Credit Corp, due May 12, 2028 0.68%

Check overlap with more funds →

On the same fields

GSY
Invesco Ultra Short Duration ETF
ICSH
iShares Ultra Short Duration Bond Active ETF
Where it sits Bond ETF Bond ETF
Issuer Invesco iShares
What it is Actively managed Actively managed
Total return, 1 year +3.7% +3.5%
Its benchmark over the same days +3.7% (SPTU) not measured
Gap to its benchmark 0.0 pts vs SPTU not measured
Expense ratio 0.22% 0.08%
Holdings 414 407
Net assets $4.0bn $9.0bn

GSY and ICSH on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.

About GSY

GSY is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.7% with distributions reinvested, against +3.7% for its benchmark, the ICE BofA US Treasury Bill Index. The prospectus expense ratio is 0.22% a year.

About ICSH

ICSH is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +3.5% with distributions reinvested. The prospectus expense ratio is 0.08% a year.

Questions people ask

Which returned more over the last year, GSY or ICSH?
In the year to Oct 20, 2026, with distributions reinvested, GSY returned +3.7% and ICSH +3.5%.
Which is cheaper, GSY or ICSH?
ICSH is cheaper, by 0.14 percentage points a year. That is about $14 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
GSY vs VUSBGSY vs TBILGSY vs VBILGSY vs USFRIBDS vs ICSHBILS vs ICSHICSH vs VNLAIBDR vs ICSH
GSY on its own →ICSH on its own →Hold both: look the portfolio through →Rankings →GSY dividend history →GSY holdings →ICSH dividend history →ICSH holdings →Standards and sources →
Where these figures came from
GSY filings on SEC EDGAR ↗GSY prospectus with the expense ratio (SEC) ↗Invesco page for GSY ↗ICSH filings on SEC EDGAR ↗ICSH prospectus with the expense ratio (SEC) ↗iShares page for ICSH ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, GSY against ICSH, data as of Oct 20, 2026. https://etfiq.com/compare/any/gsy-vs-icsh

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.