AGG vs. CSHI
AGG (iShares Core U.S. Aggregate Bond ETF) and CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) are both exchange-traded funds - AGG is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while CSHI is a Ultrashort Bond fund actively managed by Neos. AGG is passively managed, while CSHI is actively managed. Over the past 3 years, AGG returned 3.88%/yr vs 5.40%/yr for CSHI. At a 0.05 correlation, their price movements are largely independent. AGG charges 0.03%/yr vs 0.38%/yr for CSHI.
Performance
AGG vs. CSHI - Performance Comparison
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Returns By Period
In the year-to-date period, AGG achieves a -0.08% return, which is significantly lower than CSHI's 2.22% return.
AGG
- 1D
- 0.00%
- 1M
- -0.69%
- YTD
- -0.08%
- 6M
- 0.26%
- 1Y
- 4.97%
- 3Y*
- 3.88%
- 5Y*
- -0.03%
- 10Y*
- 1.52%
CSHI
- 1D
- 0.12%
- 1M
- 0.23%
- YTD
- 2.22%
- 6M
- 2.51%
- 1Y
- 5.13%
- 3Y*
- 5.40%
- 5Y*
- —
- 10Y*
- —
AGG vs. CSHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | -0.08% | 7.19% | 1.31% | 5.65% | -3.14% |
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF | 2.22% | 5.05% | 5.66% | 6.21% | 1.46% |
Correlation
The correlation between AGG and CSHI is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022 | 0.05 |
The correlation between AGG and CSHI shifts across timeframes, from 0.03 (3 years) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGG vs. CSHI — Risk / Return Rank
AGG
CSHI
AGG vs. CSHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. Aggregate Bond ETF (AGG) and NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AGG | CSHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -8.57 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 2.61 | -1.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 25.71 | -23.91 |
| Martin ratioReturn relative to average drawdown | 5.44 | 141.38 | -135.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGG | CSHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 5.80 | -4.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 4.15 | -3.56 |
Drawdowns
AGG vs. CSHI - Drawdown Comparison
The maximum AGG drawdown since its inception was -18.43%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for AGG and CSHI.
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Drawdown Indicators
| AGG | CSHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -1.69% | -16.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -0.20% | -2.56% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -1.69% | -4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -17.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | — | — |
Current DrawdownCurrent decline from peak | -2.47% | -0.08% | -2.39% |
Average DrawdownAverage peak-to-trough decline | -2.71% | -0.03% | -2.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.04% | +0.88% |
Volatility
AGG vs. CSHI - Volatility Comparison
iShares Core U.S. Aggregate Bond ETF (AGG) has a higher volatility of 1.29% compared to NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) at 0.27%. This indicates that AGG's price experiences larger fluctuations and is considered to be riskier than CSHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGG | CSHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.27% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 0.57% | +2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 0.89% | +2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 1.33% | +4.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 1.33% | +4.08% |
AGG vs. CSHI - Expense Ratio Comparison
AGG has a 0.03% expense ratio, which is lower than CSHI's 0.38% expense ratio.
Dividends
AGG vs. CSHI - Dividend Comparison
AGG's dividend yield for the trailing twelve months is around 4.00%, less than CSHI's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGG iShares Core U.S. Aggregate Bond ETF | 4.00% | 3.89% | 3.74% | 3.13% | 2.39% | 1.77% | 2.14% | 2.70% | 2.72% | 2.32% | 2.39% | 2.45% |
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF | 4.91% | 5.11% | 5.72% | 6.15% | 1.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AGG and CSHI have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGG has higher volatility (1.29%) compared to CSHI (0.27%). In terms of maximum drawdown, AGG dropped -18.43% vs CSHI's -1.69%.
On 3-year performance, CSHI leads with 5.40% vs 3.88% for AGG. On fees, AGG is cheaper at 0.03% per year. On volatility, CSHI has been the lower-risk option at 0.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CSHI has performed better with a 5.40% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGG is cheaper with a 0.03% expense ratio, compared with 0.38% for CSHI.
CSHI has the higher dividend yield at 4.91%, compared with 4.00% for AGG.
AGG is categorized as Total Bond Market, while CSHI is Ultrashort Bond. They also come from different issuers: iShares and Neos. Their fees differ too: 0.03% for AGG and 0.38% for CSHI.
CSHI currently has the higher Sharpe Ratio (5.80 vs 1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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