CSHI vs. NIHI

Last updated Jun 5, 2026

CSHI (Neos Enhanced Income Cash Alternative ETF) and NIHI (NEOS MSCI EAFE High Income ETF) are both exchange-traded funds - CSHI is a Ultrashort Bond fund tracking the NONE, while NIHI is a Derivative Income fund actively managed by Neos. CSHI is passively managed, while NIHI is actively managed. At a 0.46 correlation, their price movements are largely independent. CSHI charges 0.38%/yr vs 0.68%/yr for NIHI.

Performance

CSHI vs. NIHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Cash Alternative ETF (CSHI) and NEOS MSCI EAFE High Income ETF (NIHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSHI achieves a 2.30% return, which is significantly lower than NIHI's 6.43% return.

CSHI

• 1D: 0.04%
• 1M: 0.38%
• YTD: 2.30%
• 6M: 2.65%
• 1Y: 5.29%
• 3Y*: 5.45%
• 5Y*: —
• 10Y*: —

NIHI

• 1D: 0.56%
• 1M: 2.77%
• YTD: 6.43%
• 6M: 8.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CSHI vs. NIHI - Yearly Performance Comparison

	2026 (YTD)	2025
CSHI Neos Enhanced Income Cash Alternative ETF	2.30%	1.45%
NIHI NEOS MSCI EAFE High Income ETF	6.43%	5.33%

Correlation

The correlation between CSHI and NIHI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.46

CSHI vs. NIHI - Sectors Allocation Comparison

Sectors	CSHI	NIHI
Technology	35.6%	10.2%
Financial Services	11.8%	22.9%
Communication Services	11.2%	4.5%
Consumer Cyclical	10.1%	8.2%
Healthcare	8.5%	9.8%
Industrials	8.3%	20.5%
Consumer Defensive	4.9%	6.4%
Energy	3.5%	4.0%
Utilities	2.3%	3.8%
Real Estate	1.9%	3.1%
Basic Materials	1.8%	6.6%

Return for Risk

CSHI vs. NIHI — Risk / Return Rank

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

CSHI

CSHI Risk / Return Rank: 99
CSHI Sharpe Ratio Rank: 98
CSHI Sortino Ratio Rank: 99
CSHI Omega Ratio Rank: 99
CSHI Calmar Ratio Rank: 99
CSHI Martin Ratio Rank: 99

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.

CSHI vs. NIHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Cash Alternative ETF (CSHI) and NEOS MSCI EAFE High Income ETF (NIHI). 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.

	CSHI	NIHI	Difference
Sharpe ratio: Return per unit of total volatility	6.21	—	—
Sortino ratio: Return per unit of downside risk	11.93	—	—
Omega ratio: Gain probability vs. loss probability	2.77	—	—
Calmar ratio: Return relative to maximum drawdown	29.39	—	—
Martin ratio: Return relative to average drawdown	155.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CSHI	NIHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.19	1.16	+3.03

Drawdowns

CSHI vs. NIHI - Drawdown Comparison

The maximum CSHI drawdown since its inception was -1.69%, smaller than the maximum NIHI drawdown of -10.88%. Use the drawdown chart below to compare losses from any high point for CSHI and NIHI.

Drawdown Indicators

	CSHI	NIHI	Difference
Max Drawdown Largest peak-to-trough decline	-1.69%	-10.88%	+9.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.69%	—	—
Current Drawdown Current decline from peak	0.00%	-0.59%	+0.59%
Average Drawdown Average peak-to-trough decline	-0.03%	-2.37%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	—	—

Volatility

Volatility by Period

	CSHI	NIHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.86%	15.08%	-14.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	15.08%	-13.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.32%	15.08%	-13.76%

CSHI vs. NIHI - Expense Ratio Comparison

CSHI has a 0.38% expense ratio, which is lower than NIHI's 0.68% expense ratio.

Dividends

CSHI vs. NIHI - Dividend Comparison

CSHI's dividend yield for the trailing twelve months is around 4.90%, less than NIHI's 7.79% yield.

Position	TTM	2025	2024	2023	2022
CSHI Neos Enhanced Income Cash Alternative ETF	4.90%	5.11%	5.72%	6.15%	1.52%
NIHI NEOS MSCI EAFE High Income ETF	7.79%	3.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSHI and NIHI in my portfolio?

CSHI and NIHI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSHI or NIHI?

On fees, CSHI is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSHI or NIHI?

CSHI is cheaper with a 0.38% expense ratio, compared with 0.68% for NIHI.

Which ETF pays a higher dividend yield, CSHI or NIHI?

NIHI has the higher dividend yield at 7.79%, compared with 4.90% for CSHI.

What is the main difference between CSHI and NIHI?

CSHI is categorized as Ultrashort Bond, while NIHI is Derivative Income. Their fees differ too: 0.38% for CSHI and 0.68% for NIHI.