NTSX vs. CSHI

Last updated Jun 13, 2026

NTSX (WisdomTree U.S. Efficient Core Fund) and CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) are both exchange-traded funds - NTSX is a Diversified Portfolio fund actively managed by WisdomTree, while CSHI is a Ultrashort Bond fund actively managed by Neos. Both are actively managed. Over the past 3 years, NTSX returned 18.55%/yr vs 5.42%/yr for CSHI. At a 0.31 correlation, their price movements are largely independent. NTSX charges 0.20%/yr vs 0.38%/yr for CSHI.

Performance

NTSX vs. CSHI - Performance Comparison

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

Returns By Period

In the year-to-date period, NTSX achieves a 7.28% return, which is significantly higher than CSHI's 2.31% return.

NTSX

• 1D: 0.53%
• 1M: -0.68%
• YTD: 7.28%
• 6M: 7.49%
• 1Y: 23.34%
• 3Y*: 18.55%
• 5Y*: 9.23%
• 10Y*: —

CSHI

• 1D: 0.06%
• 1M: 0.27%
• YTD: 2.31%
• 6M: 2.56%
• 1Y: 5.17%
• 3Y*: 5.42%
• 5Y*: —
• 10Y*: —

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

NTSX vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NTSX WisdomTree U.S. Efficient Core Fund	7.28%	18.82%	20.20%	22.70%	-7.18%
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF	2.31%	5.05%	5.66%	6.21%	1.39%

Correlation

The correlation between NTSX and CSHI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.31

The correlation between NTSX and CSHI shifts across timeframes, from 0.29 (3 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.

NTSX vs. CSHI - Sectors Allocation Comparison

Sectors	NTSX	CSHI
Technology	35.1%	35.6%
Communication Services	12.5%	11.2%
Financial Services	12.3%	11.8%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.5%
Industrials	7.7%	8.3%
Consumer Defensive	5.5%	4.9%
Energy	3.5%	3.5%
Utilities	2.1%	2.3%
Real Estate	1.5%	1.9%
Basic Materials	1.4%	1.8%

Return for Risk

NTSX vs. CSHI — Risk / Return Rank

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

NTSX

NTSX Risk / Return Rank: 59
NTSX Sharpe Ratio Rank: 58
NTSX Sortino Ratio Rank: 56
NTSX Omega Ratio Rank: 57
NTSX Calmar Ratio Rank: 55
NTSX Martin Ratio Rank: 66

CSHI

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

NTSX vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Efficient Core Fund (NTSX) 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.

	NTSX	CSHI	Difference
Sharpe ratio: Return per unit of total volatility	1.72	5.77	-4.05
Sortino ratio: Return per unit of downside risk	2.33	10.45	-8.12
Omega ratio: Gain probability vs. loss probability	1.31	2.60	-1.29
Calmar ratio: Return relative to maximum drawdown	2.42	24.49	-22.07
Martin ratio: Return relative to average drawdown	10.43	131.09	-120.66

NTSX vs. CSHI - Sharpe Ratio Comparison

The current NTSX Sharpe Ratio is 1.72, which is lower than the CSHI Sharpe Ratio of 5.77. The chart below compares the historical Sharpe Ratios of NTSX 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.

Drawdowns

NTSX vs. CSHI - Drawdown Comparison

The maximum NTSX drawdown since its inception was -31.34%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for NTSX and CSHI.

Drawdown Indicators

	NTSX	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-1.69%	-29.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-0.21%	-8.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-1.69%	-15.13%
Max Drawdown (5Y) Largest decline over 5 years	-31.34%	—	—
Current Drawdown Current decline from peak	-2.27%	0.00%	-2.27%
Average Drawdown Average peak-to-trough decline	-6.78%	-0.03%	-6.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	0.04%	+2.09%

Volatility

NTSX vs. CSHI - Volatility Comparison

WisdomTree U.S. Efficient Core Fund (NTSX) has a higher volatility of 5.05% compared to NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI) at 0.33%. This indicates that NTSX'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

	NTSX	CSHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	0.33%	+4.72%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	0.60%	+9.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	0.91%	+12.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	1.33%	+15.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	1.33%	+16.97%

NTSX vs. CSHI - Expense Ratio Comparison

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

Dividends

NTSX vs. CSHI - Dividend Comparison

NTSX's dividend yield for the trailing twelve months is around 1.09%, less than CSHI's 5.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
NTSX WisdomTree U.S. Efficient Core Fund	1.09%	1.14%	1.14%	1.21%	1.36%	0.82%	0.92%	1.42%	0.62%

Frequently Asked Questions

Can I hold both NTSX and CSHI in my portfolio?

NTSX and CSHI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTSX or CSHI?

NTSX has higher volatility (5.05%) compared to CSHI (0.33%). In terms of maximum drawdown, NTSX dropped -31.34% vs CSHI's -1.69%.

Which ETF is better, NTSX or CSHI?

On 3-year performance, NTSX leads with 18.55% vs 5.42% for CSHI. On fees, NTSX is cheaper at 0.20% per year. On volatility, CSHI has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NTSX or CSHI?

Over the 3-year period, NTSX has performed better with a 18.55% return vs 5.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NTSX or CSHI?

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

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

CSHI has the higher dividend yield at 5.31%, compared with 1.09% for NTSX.

What is the main difference between NTSX and CSHI?

NTSX is categorized as Diversified Portfolio, while CSHI is Ultrashort Bond. They also come from different issuers: WisdomTree and Neos. Their fees differ too: 0.20% for NTSX and 0.38% for CSHI.

Which has better risk-adjusted returns?

CSHI currently has the higher Sharpe Ratio (5.77 vs 1.72), 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.