- ISIN
- US78433H5019
- Issuer
- Neos
- Inception Date
- Aug 29, 2022
- Region
- North America (U.S.)
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $1B
Share Price Chart
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Performance
CSHI Performance Chart
NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) is up 2.4% since the beginning of the year. CSHI is currently trading at $50 per share.
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Returns By Period
NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) has returned 2.41% so far this year and 5.17% over the past 12 months.
NEOS Enhanced Income 1-3 Month T-Bill ETF
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 2.41%
- 6M
- 2.58%
- 1Y
- 5.17%
- 3Y*
- 5.45%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.34%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
CSHI Monthly Returns History
Based on dividend-adjusted daily data since Aug 30, 2022, CSHI's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 98% of months were positive and 2% were negative. The best month was May 2025 with a return of +0.7%, while the worst month was Aug 2022 at -0.0%. The longest winning streak lasted 46 consecutive months, and the longest losing streak was 1 months.
On a daily basis, CSHI closed higher 64% of trading days. The best single day was Apr 9, 2025 with a return of +1.2%, while the worst single day was Apr 4, 2025 at -1.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.32% | 0.40% | 0.57% | 0.53% | 0.33% | 0.23% | 2.41% | ||||||
| 2025 | 0.37% | 0.36% | 0.21% | 0.34% | 0.69% | 0.45% | 0.49% | 0.35% | 0.43% | 0.48% | 0.36% | 0.41% | 5.05% |
| 2024 | 0.48% | 0.37% | 0.40% | 0.48% | 0.48% | 0.38% | 0.48% | 0.55% | 0.46% | 0.50% | 0.53% | 0.39% | 5.66% |
| 2023 | 0.68% | 0.37% | 0.68% | 0.44% | 0.48% | 0.53% | 0.38% | 0.45% | 0.42% | 0.61% | 0.55% | 0.43% | 6.21% |
| 2022 | -0.04% | 0.09% | 0.65% | 0.36% | 0.32% | 1.39% |
Benchmark Metrics
NEOS Enhanced Income 1-3 Month T-Bill ETF has an annualized alpha of 4.74%, beta of 0.04, and R2 of 0.25 versus S&P 500 Index. Calculated based on daily prices since August 30, 2022.
- This ETF captured 9.98% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -14.00%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.04 may look defensive, but with R2 of 0.25 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.25 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.74%
- Beta
- 0.04
- R²
- 0.25
- Upside Capture
- 9.98%
- Downside Capture
- -14.00%
Expense Ratio
CSHI has an expense ratio of 0.38%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CSHI ranks 99 for risk / return — in the top 99% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CSHI | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.80 | ||
| Sortino ratioReturn per unit of downside risk | +7.73 | ||
| Omega ratioGain probability vs. loss probability | 2.58 | 1.35 | +1.23 |
| Calmar ratioReturn relative to maximum drawdown | 24.30 | 2.66 | +21.64 |
| Martin ratioReturn relative to average drawdown | 130.29 | 11.86 | +118.43 |
Dividends
Dividend History
NEOS Enhanced Income 1-3 Month T-Bill ETF provided a 5.31% dividend yield over the last twelve months, with an annual payout of $2.64 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $2.64 | $2.54 | $2.85 | $3.07 | $0.76 |
Dividend yield | 5.31% | 5.11% | 5.72% | 6.15% | 1.52% |
Monthly Dividends
The table displays the monthly dividend distributions for NEOS Enhanced Income 1-3 Month T-Bill ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.20 | $0.20 | $0.19 | $0.19 | $0.19 | $0.19 | $1.18 | ||||||
| 2025 | $0.22 | $0.22 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.21 | $0.20 | $0.20 | $2.54 |
| 2024 | $0.25 | $0.25 | $0.25 | $0.25 | $0.23 | $0.23 | $0.23 | $0.24 | $0.23 | $0.23 | $0.23 | $0.23 | $2.85 |
| 2023 | $0.23 | $0.24 | $0.25 | $0.26 | $0.27 | $0.27 | $0.27 | $0.28 | $0.26 | $0.26 | $0.26 | $0.25 | $3.07 |
| 2022 | $0.16 | $0.19 | $0.20 | $0.21 | $0.76 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the NEOS Enhanced Income 1-3 Month T-Bill ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the NEOS Enhanced Income 1-3 Month T-Bill ETF was 1.69%, occurring on Apr 8, 2025. Recovery took 11 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -1.69%Apr 2025 | 5d | 16d | 21dApr 2025 - Apr 2025 |
2024 pullback2024 | -0.40%Aug 2024 | 5d | 3d | 8dJul 2024 - Aug 2024 |
2026 pullback2026 | -0.21%Jun 2026 | 5d | 2d | 7dJun 2026 - Jun 2026 |
2025 selloff2025 | -0.20%May 2025 | 0s | 3d | 3dMay 2025 - May 2025 |
2023 pullback2023 | -0.19%Mar 2023 | 3d | 2d | 5dMar 2023 - Mar 2023 |
Drawdown Indicators
| CSHI | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.69% | -56.78% | +55.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.21% | -9.10% | +8.89% |
Max Drawdown (3Y)Largest decline over 3 years | -1.69% | -18.90% | +17.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.49% | +2.49% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -10.72% | +10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 2.03% | -1.99% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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