SPTU vs. CSHI
SPTU (State Street SPDR Portfolio Ultra Short T-Bill ETF) and CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) are both Ultrashort Bond funds. SPTU is passively managed, while CSHI is actively managed. At a correlation of -0.07, they often move in opposite directions. SPTU charges 0.05%/yr vs 0.38%/yr for CSHI.
Performance
SPTU vs. CSHI - Performance Comparison
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Returns By Period
In the year-to-date period, SPTU achieves a 1.66% return, which is significantly lower than CSHI's 2.39% return.
SPTU
- 1D
- 0.03%
- 1M
- 0.29%
- YTD
- 1.66%
- 6M
- 1.74%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CSHI
- 1D
- -0.02%
- 1M
- 0.27%
- YTD
- 2.39%
- 6M
- 2.58%
- 1Y
- 5.11%
- 3Y*
- 5.40%
- 5Y*
- —
- 10Y*
- —
SPTU vs. CSHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 1.66% | 0.87% |
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF | 2.39% | 1.10% |
Correlation
The correlation between SPTU and CSHI is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | -0.07 |
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Return for Risk
SPTU vs. CSHI — Risk / Return Rank
SPTU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CSHI
SPTU vs. CSHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio Ultra Short T-Bill ETF (SPTU) 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.
| SPTU | CSHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.59 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 24.19 | — |
| Martin ratioReturn relative to average drawdown | — | 129.69 | — |
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Drawdowns
SPTU vs. CSHI - Drawdown Comparison
The maximum SPTU drawdown since its inception was -0.04%, smaller than the maximum CSHI drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for SPTU and CSHI.
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Drawdown Indicators
| SPTU | CSHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -1.69% | +1.65% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.21% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.69% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.02% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -0.03% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.04% | — |
Volatility
SPTU vs. CSHI - Volatility Comparison
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Volatility by Period
| SPTU | CSHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.33% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 0.60% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.33% | 0.90% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.33% | 1.33% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.33% | 1.33% | -1.00% |
SPTU vs. CSHI - Expense Ratio Comparison
SPTU has a 0.05% expense ratio, which is lower than CSHI's 0.38% expense ratio.
Dividends
SPTU vs. CSHI - Dividend Comparison
SPTU's dividend yield for the trailing twelve months is around 2.36%, less than CSHI's 5.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF | 5.31% | 5.11% | 5.72% | 6.15% | 1.52% |
SPTU State Street SPDR Portfolio Ultra Short T-Bill ETF | 2.36% | 0.89% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPTU and CSHI have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPTU is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPTU is cheaper with a 0.05% expense ratio, compared with 0.38% for CSHI.
CSHI has the higher dividend yield at 5.31%, compared with 2.36% for SPTU.
They also come from different issuers: State Street and Neos. Their fees differ too: 0.05% for SPTU and 0.38% for CSHI.
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