JPST vs. CSHI

Last updated Jun 4, 2026

JPST (JPMorgan Ultra-Short Income ETF) and CSHI (Neos Enhanced Income Cash Alternative ETF) are both Ultrashort Bond funds. JPST is actively managed, while CSHI is passively managed. Over the past 3 years, JPST returned 5.16%/yr vs 5.45%/yr for CSHI. At a 0.03 correlation, their price movements are largely independent. JPST charges 0.18%/yr vs 0.38%/yr for CSHI.

Performance

JPST vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Ultra-Short Income ETF (JPST) and Neos Enhanced Income Cash Alternative ETF (CSHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPST achieves a 1.40% return, which is significantly lower than CSHI's 2.26% return.

JPST

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.40%
• 6M: 1.74%
• 1Y: 4.31%
• 3Y*: 5.16%
• 5Y*: 3.61%
• 10Y*: —

CSHI

• 1D: 0.02%
• 1M: 0.37%
• YTD: 2.26%
• 6M: 2.59%
• 1Y: 5.25%
• 3Y*: 5.45%
• 5Y*: —
• 10Y*: —

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

JPST vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JPST JPMorgan Ultra-Short Income ETF	1.40%	4.99%	5.58%	5.13%	1.14%
CSHI Neos Enhanced Income Cash Alternative ETF	2.26%	5.05%	5.66%	6.21%	1.46%

Correlation

The correlation between JPST and CSHI is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.03

The correlation between JPST and CSHI shifts across timeframes, from 0.02 (3 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.

JPST vs. CSHI - Sectors Allocation Comparison

Sectors	JPST	CSHI
Financial Services	22.6%	11.8%
Communication Services	5.5%	11.2%
Utilities	2.8%	2.3%
Consumer Cyclical	2.5%	10.1%
Industrials	2.1%	8.3%
Technology	1.8%	35.6%
Healthcare	1.5%	8.5%
Real Estate	0.7%	1.9%
Consumer Defensive	0.7%	4.9%
Energy	0.4%	3.5%
Basic Materials	0.2%	1.8%

Return for Risk

JPST vs. CSHI — Risk / Return Rank

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

JPST

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

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.

JPST vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Ultra-Short Income ETF (JPST) 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.

	JPST	CSHI	Difference
Sharpe ratio: Return per unit of total volatility	8.09	6.16	+1.93
Sortino ratio: Return per unit of downside risk	17.60	11.83	+5.77
Omega ratio: Gain probability vs. loss probability	3.94	2.75	+1.19
Calmar ratio: Return relative to maximum drawdown	29.16	29.16	0.00
Martin ratio: Return relative to average drawdown	144.13	154.18	-10.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPST vs. CSHI - Sharpe Ratio Comparison

The current JPST Sharpe Ratio is 8.09, which is higher than the CSHI Sharpe Ratio of 6.16. The chart below compares the historical Sharpe Ratios of JPST 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.

Sharpe Ratios by Period

	JPST	CSHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.09	6.16	+1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	6.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.20	4.18	-0.98

Drawdowns

JPST vs. CSHI - Drawdown Comparison

The maximum JPST drawdown since its inception was -3.28%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for JPST and CSHI.

Drawdown Indicators

	JPST	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-3.28%	-1.69%	-1.59%
Max Drawdown (1Y) Largest decline over 1 year	-0.15%	-0.18%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-1.69%	+1.39%
Max Drawdown (5Y) Largest decline over 5 years	-0.79%	—	—
Current Drawdown Current decline from peak	-0.02%	0.00%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.08%	-0.03%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.03%	0.00%

Volatility

JPST vs. CSHI - Volatility Comparison

JPMorgan Ultra-Short Income ETF (JPST) has a higher volatility of 0.15% compared to Neos Enhanced Income Cash Alternative ETF (CSHI) at 0.11%. This indicates that JPST'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

	JPST	CSHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	0.11%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.36%	0.52%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	0.54%	0.86%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.58%	1.32%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.93%	1.32%	-0.39%

JPST vs. CSHI - Expense Ratio Comparison

JPST has a 0.18% expense ratio, which is lower than CSHI's 0.38% expense ratio.

Dividends

JPST vs. CSHI - Dividend Comparison

JPST's dividend yield for the trailing twelve months is around 4.26%, less than CSHI's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSHI Neos Enhanced Income Cash Alternative ETF	4.90%	5.11%	5.72%	6.15%	1.52%	0.00%	0.00%	0.00%	0.00%	0.00%
JPST JPMorgan Ultra-Short Income ETF	4.26%	4.43%	5.16%	4.79%	1.83%	0.73%	1.43%	2.69%	2.07%	0.96%

Frequently Asked Questions

Can I hold both JPST and CSHI in my portfolio?

JPST and CSHI have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPST or CSHI?

JPST has higher volatility (0.15%) compared to CSHI (0.11%). In terms of maximum drawdown, JPST dropped -3.28% vs CSHI's -1.69%.

Which ETF is better, JPST or CSHI?

On 3-year performance, CSHI leads with 5.45% vs 5.16% for JPST. On fees, JPST is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPST or CSHI?

Over the 3-year period, CSHI has performed better with a 5.45% return vs 5.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPST or CSHI?

JPST is cheaper with a 0.18% expense ratio, compared with 0.38% for CSHI.

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

CSHI has the higher dividend yield at 4.90%, compared with 4.26% for JPST.

What is the main difference between JPST and CSHI?

They also come from different issuers: JPMorgan and Neos. Their fees differ too: 0.18% for JPST and 0.38% for CSHI.

Which has better risk-adjusted returns?

JPST currently has the higher Sharpe Ratio (8.09 vs 6.16), 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.