KCSH vs. CSHI

Last updated Jun 4, 2026

KCSH (KraneShares Sustainable Ultra Short Duration Index ETF) and CSHI (Neos Enhanced Income Cash Alternative ETF) are both Ultrashort Bond funds - KCSH tracks the Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index while CSHI tracks the NONE. Both are passively managed. Over the past year, KCSH returned 4.06% vs 5.25% for CSHI. At a 0.20 correlation, their price movements are largely independent. KCSH charges 0.20%/yr vs 0.38%/yr for CSHI.

Performance

KCSH vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) 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, KCSH achieves a 1.49% return, which is significantly lower than CSHI's 2.26% return.

KCSH

• 1D: 0.02%
• 1M: 0.32%
• YTD: 1.49%
• 6M: 1.83%
• 1Y: 4.06%
• 3Y*: —
• 5Y*: —
• 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)

KCSH vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KCSH KraneShares Sustainable Ultra Short Duration Index ETF	1.49%	4.49%	1.94%
CSHI Neos Enhanced Income Cash Alternative ETF	2.26%	5.05%	2.50%

Correlation

The correlation between KCSH and CSHI is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jul 29, 2024	0.20

Return for Risk

KCSH vs. CSHI — Risk / Return Rank

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

KCSH

KCSH Risk / Return Rank: 95
KCSH Sharpe Ratio Rank: 92
KCSH Sortino Ratio Rank: 93
KCSH Omega Ratio Rank: 98
KCSH Calmar Ratio Rank: 94
KCSH Martin Ratio Rank: 98

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.

KCSH vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) 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.

	KCSH	CSHI	Difference
Sharpe ratio: Return per unit of total volatility	3.30	6.16	-2.86
Sortino ratio: Return per unit of downside risk	4.65	11.83	-7.18
Omega ratio: Gain probability vs. loss probability	2.16	2.75	-0.60
Calmar ratio: Return relative to maximum drawdown	7.00	29.16	-22.16
Martin ratio: Return relative to average drawdown	59.08	154.18	-95.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KCSH vs. CSHI - Sharpe Ratio Comparison

The current KCSH Sharpe Ratio is 3.30, which is lower than the CSHI Sharpe Ratio of 6.16. The chart below compares the historical Sharpe Ratios of KCSH 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

	KCSH	CSHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	6.16	-2.86
Sharpe Ratio (All Time) Calculated using the full available price history	3.26	4.18	-0.92

Drawdowns

KCSH vs. CSHI - Drawdown Comparison

The maximum KCSH drawdown since its inception was -0.58%, smaller than the maximum CSHI drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for KCSH and CSHI.

Drawdown Indicators

	KCSH	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-0.58%	-1.69%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-0.58%	-0.18%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.69%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.03%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	0.03%	+0.04%

Volatility

KCSH vs. CSHI - Volatility Comparison

The current volatility for KraneShares Sustainable Ultra Short Duration Index ETF (KCSH) is 0.06%, while Neos Enhanced Income Cash Alternative ETF (CSHI) has a volatility of 0.11%. This indicates that KCSH experiences smaller price fluctuations and is considered to be less risky than CSHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KCSH	CSHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.11%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	0.83%	0.52%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	1.24%	0.86%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.33%	1.32%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.33%	1.32%	+0.01%

KCSH vs. CSHI - Expense Ratio Comparison

KCSH has a 0.20% expense ratio, which is lower than CSHI's 0.38% expense ratio.

Dividends

KCSH vs. CSHI - Dividend Comparison

KCSH's dividend yield for the trailing twelve months is around 3.97%, less than CSHI's 4.90% yield.

Position	TTM	2025	2024	2023	2022
CSHI Neos Enhanced Income Cash Alternative ETF	4.90%	5.11%	5.72%	6.15%	1.52%
KCSH KraneShares Sustainable Ultra Short Duration Index ETF	3.97%	4.35%	2.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KCSH and CSHI in my portfolio?

KCSH and CSHI have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KCSH or CSHI?

CSHI has higher volatility (0.11%) compared to KCSH (0.06%). In terms of maximum drawdown, KCSH dropped -0.58% vs CSHI's -1.69%.

Which ETF is better, KCSH or CSHI?

On 1-year performance, CSHI leads with 5.25% vs 4.06% for KCSH. On fees, KCSH is cheaper at 0.20% 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, KCSH or CSHI?

Over the 1-year period, CSHI has performed better with a 5.25% return vs 4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KCSH or CSHI?

KCSH is cheaper with a 0.20% expense ratio, compared with 0.38% for CSHI.

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

CSHI has the higher dividend yield at 4.90%, compared with 3.97% for KCSH.

What is the main difference between KCSH and CSHI?

KCSH tracks Solactive ISS Sustainable Select 0-1 Year USD Corporate IG Index, while CSHI tracks NONE. They also come from different issuers: KraneShares and Neos. Their fees differ too: 0.20% for KCSH and 0.38% for CSHI.

Which has better risk-adjusted returns?

CSHI currently has the higher Sharpe Ratio (6.16 vs 3.30), 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.