CGMS vs. CSHI

Last updated Apr 1, 2026

Compare and contrast key facts about Capital Group U.S. Multi-Sector Income ETF (CGMS) and Neos Enhanced Income Cash Alternative ETF (CSHI).

CGMS and CSHI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CGMS is an actively managed fund by Capital Group. It was launched on Oct 25, 2022. CSHI is a passively managed fund by Neos that tracks the performance of the NONE. It was launched on Aug 29, 2022.

Performance

CGMS vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group U.S. Multi-Sector Income ETF (CGMS) and Neos Enhanced Income Cash Alternative ETF (CSHI). The values are adjusted to include any dividend payments, if applicable.

CGMS vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CGMS Capital Group U.S. Multi-Sector Income ETF	-0.24%	7.52%	7.24%	11.51%	2.61%
CSHI Neos Enhanced Income Cash Alternative ETF	1.30%	5.05%	5.66%	6.21%	0.74%

Returns By Period

In the year-to-date period, CGMS achieves a -0.24% return, which is significantly lower than CSHI's 1.30% return.

CGMS

• 1D: 0.78%
• 1M: -1.23%
• YTD: -0.24%
• 6M: 0.95%
• 1Y: 5.78%
• 3Y*: 7.33%
• 5Y*: —
• 10Y*: —

CSHI

• 1D: 0.18%
• 1M: 0.57%
• YTD: 1.30%
• 6M: 2.57%
• 1Y: 5.43%
• 3Y*: 5.49%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CGMS vs. CSHI - Expense Ratio Comparison

CGMS has a 0.39% expense ratio, which is higher than CSHI's 0.38% expense ratio.

CGMS

Capital Group U.S. Multi-Sector Income ETF

CSHI

Neos Enhanced Income Cash Alternative ETF

Return for Risk

CGMS vs. CSHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CGMS

CGMS Risk / Return Rank: 72
CGMS Sharpe Ratio Rank: 75
CGMS Sortino Ratio Rank: 74
CGMS Omega Ratio Rank: 74
CGMS Calmar Ratio Rank: 65
CGMS Martin Ratio Rank: 71

CSHI

CSHI Risk / Return Rank: 97
CSHI Sharpe Ratio Rank: 97
CSHI Sortino Ratio Rank: 98
CSHI Omega Ratio Rank: 98
CSHI Calmar Ratio Rank: 92
CSHI Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGMS vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group U.S. Multi-Sector Income ETF (CGMS) and Neos Enhanced Income Cash Alternative 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.

	CGMS	CSHI	Difference
Sharpe ratio Return per unit of total volatility	1.31	2.71	-1.40
Sortino ratio Return per unit of downside risk	1.82	4.01	-2.19
Omega ratio Gain probability vs. loss probability	1.27	2.01	-0.74
Calmar ratio Return relative to maximum drawdown	1.58	3.21	-1.63
Martin ratio Return relative to average drawdown	6.94	28.78	-21.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGMS vs. CSHI - Sharpe Ratio Comparison

The current CGMS Sharpe Ratio is 1.31, which is lower than the CSHI Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of CGMS and CSHI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CGMS	CSHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	2.71	-1.40
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	4.10	-2.48

Correlation

The correlation between CGMS and CSHI is 0.13, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CGMS vs. CSHI - Dividend Comparison

CGMS's dividend yield for the trailing twelve months is around 5.95%, more than CSHI's 4.98% yield.

	TTM	2025	2024	2023	2022
CGMS Capital Group U.S. Multi-Sector Income ETF	5.95%	6.00%	5.91%	5.84%	0.97%
CSHI Neos Enhanced Income Cash Alternative ETF	4.98%	5.11%	5.72%	6.15%	1.52%

Drawdowns

CGMS vs. CSHI - Drawdown Comparison

The maximum CGMS drawdown since its inception was -4.08%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for CGMS and CSHI.

Drawdown Indicators

	CGMS	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-1.69%	-2.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-1.69%	-1.96%
Current Drawdown Current decline from peak	-1.42%	0.00%	-1.42%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.03%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.19%	+0.64%

Volatility

CGMS vs. CSHI - Volatility Comparison

Capital Group U.S. Multi-Sector Income ETF (CGMS) has a higher volatility of 1.93% compared to Neos Enhanced Income Cash Alternative ETF (CSHI) at 0.39%. This indicates that CGMS'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.

Volatility by Period

	CGMS	CSHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	0.39%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	2.47%	0.68%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	4.44%	2.01%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.19%	1.35%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.19%	1.35%	+3.84%