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JPHSX vs. CSHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPHSX vs. CSHI

Last updated Jun 24, 2026

JPHSX (JPMorgan Floating Rate Income Fund) and CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) are both funds - JPHSX is a Bank Loan fund managed by JPMorgan, while CSHI is a Ultrashort Bond fund actively managed by Neos. Over the past 3 years, JPHSX returned 5.04%/yr vs 5.40%/yr for CSHI. At a 0.18 correlation, their price movements are largely independent. JPHSX charges 0.75%/yr vs 0.38%/yr for CSHI.

Performance

JPHSX vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Floating Rate Income Fund (JPHSX) and NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JPHSX achieves a 1.33% return, which is significantly lower than CSHI's 2.39% return.

JPHSX

1D
0.00%
1M
0.35%
YTD
1.33%
6M
1.44%
1Y
3.27%
3Y*
5.04%
5Y*
3.86%
10Y*
3.84%

CSHI

1D
-0.02%
1M
0.27%
YTD
2.39%
6M
2.58%
1Y
5.11%
3Y*
5.40%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPHSX vs. CSHI - Yearly Performance Comparison

2026 (YTD)2025202420232022
JPHSX
JPMorgan Floating Rate Income Fund		1.33%0.89%7.14%11.07%0.36%
CSHI
NEOS Enhanced Income 1-3 Month T-Bill ETF		2.39%5.05%5.66%6.21%1.39%

Correlation

The correlation between JPHSX and CSHI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.21

Correlation (3Y)
Calculated over the trailing 3-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Aug 30, 2022

0.18

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan Floating Rate Income Fund

NEOS Enhanced Income 1-3 Month T-Bill ETF

Often compared with JPHSX:
JPHSX vs. DFRTXJPHSX vs. SAMBXJPHSX vs. DDFLXJPHSX vs. FLYRXJPHSX vs. RSFYXJPHSX vs. CAPIXJPHSX vs. XPTFX
Often compared with CSHI:
CSHI vs. SGOVCSHI vs. BOXXCSHI vs. BUCKCSHI vs. BNDICSHI vs. HIGHCSHI vs. THTACSHI vs. PULS

Return for Risk

JPHSX vs. CSHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPHSX
JPHSX Risk / Return Rank: 4848
Overall Rank
JPHSX Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
JPHSX Sortino Ratio Rank: 2929
Sortino Ratio Rank
JPHSX Omega Ratio Rank: 8383
Omega Ratio Rank
JPHSX Calmar Ratio Rank: 5353
Calmar Ratio Rank
JPHSX Martin Ratio Rank: 3535
Martin Ratio Rank
CSHI
CSHI Risk / Return Rank: 9999
Overall Rank
CSHI Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
CSHI Sortino Ratio Rank: 9999
Sortino Ratio Rank
CSHI Omega Ratio Rank: 9999
Omega Ratio Rank
CSHI Calmar Ratio Rank: 9999
Calmar Ratio Rank
CSHI Martin Ratio Rank: 9999
Martin Ratio Rank
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.

JPHSX vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Floating Rate Income Fund (JPHSX) 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.

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.

JPHSXCSHIDifference
Sharpe ratioReturn per unit of total volatility
1.68
5.73

-4.05

Sortino ratioReturn per unit of downside risk
2.04
10.36

-8.31

Omega ratioGain probability vs. loss probability

1.51

2.59

-1.08

Calmar ratioReturn relative to maximum drawdown

2.66

24.19

-21.53

Martin ratioReturn relative to average drawdown

7.42

129.69

-122.27

JPHSX vs. CSHI - Sharpe Ratio Comparison

The current JPHSX Sharpe Ratio is 1.68, which is lower than the CSHI Sharpe Ratio of 5.73. The chart below compares the historical Sharpe Ratios of JPHSX and CSHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

JPHSX vs. CSHI - Drawdown Comparison

The maximum JPHSX drawdown since its inception was -20.95%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for JPHSX and CSHI.

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Drawdown Indicators

JPHSXCSHIDifference

Max Drawdown

Largest peak-to-trough decline

-20.95%

-1.69%

-19.26%

Max Drawdown (1Y)

Largest decline over 1 year

-1.28%

-0.21%

-1.07%

Max Drawdown (3Y)

Largest decline over 3 years

-4.10%

-1.69%

-2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-6.84%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-20.95%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.02%

+0.02%

Average Drawdown

Average peak-to-trough decline

-1.01%

-0.03%

-0.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.46%

0.04%

+0.42%

Volatility

JPHSX vs. CSHI - Volatility Comparison

JPMorgan Floating Rate Income Fund (JPHSX) and NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) have volatilities of 0.33% and 0.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JPHSXCSHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.33%

0.33%

0.00%

Volatility (6M)

Calculated over the trailing 6-month period

1.37%

0.60%

+0.77%

Volatility (1Y)

Calculated over the trailing 1-year period

2.04%

0.90%

+1.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.27%

1.33%

+0.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.65%

1.33%

+2.32%

JPHSX vs. CSHI - Expense Ratio Comparison

JPHSX has a 0.75% expense ratio, which is higher than CSHI's 0.38% expense ratio.

Dividends

JPHSX vs. CSHI - Dividend Comparison

JPHSX's dividend yield for the trailing twelve months is around 7.00%, more than CSHI's 5.31% yield.

PositionTTM20252024202320222021202020192018201720162015
CSHI
NEOS Enhanced Income 1-3 Month T-Bill ETF		5.31%5.11%5.72%6.15%1.52%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
JPHSX
JPMorgan Floating Rate Income Fund		7.00%6.84%9.21%7.94%5.12%3.34%3.88%5.27%4.57%3.78%4.49%4.52%

Frequently Asked Questions

JPHSX and CSHI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CSHI has higher volatility (0.33%) compared to JPHSX (0.33%). In terms of maximum drawdown, JPHSX dropped -20.95% vs CSHI's -1.69%.

CSHI currently has the higher Sharpe Ratio (5.73 vs 1.68), 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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