UYLD vs. CSHI

Last updated Jun 5, 2026

UYLD (Angel Oak Ultrashort Income ETF) and CSHI (Neos Enhanced Income Cash Alternative ETF) are both Ultrashort Bond funds. UYLD is actively managed, while CSHI is passively managed. Over the past 3 years, UYLD returned 5.92%/yr vs 5.45%/yr for CSHI. At a 0.02 correlation, their price movements are largely independent. UYLD charges 0.29%/yr vs 0.38%/yr for CSHI.

Performance

UYLD vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Ultrashort Income ETF (UYLD) 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, UYLD achieves a 1.95% return, which is significantly lower than CSHI's 2.30% return.

UYLD

• 1D: 0.03%
• 1M: 0.67%
• YTD: 1.95%
• 6M: 2.40%
• 1Y: 5.14%
• 3Y*: 5.92%
• 5Y*: —
• 10Y*: —

CSHI

• 1D: 0.04%
• 1M: 0.38%
• YTD: 2.30%
• 6M: 2.65%
• 1Y: 5.29%
• 3Y*: 5.45%
• 5Y*: —
• 10Y*: —

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

UYLD vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UYLD Angel Oak Ultrashort Income ETF	1.95%	5.36%	6.10%	6.90%	1.12%
CSHI Neos Enhanced Income Cash Alternative ETF	2.30%	5.05%	5.66%	6.21%	0.83%

Correlation

The correlation between UYLD and CSHI is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Oct 26, 2022	0.02

The correlation between UYLD and CSHI shifts across timeframes, from 0.02 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

UYLD vs. CSHI — Risk / Return Rank

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

UYLD

UYLD Risk / Return Rank: 99
UYLD Sharpe Ratio Rank: 99
UYLD Sortino Ratio Rank: 99
UYLD Omega Ratio Rank: 99
UYLD Calmar Ratio Rank: 99
UYLD 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.

UYLD vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Ultrashort Income ETF (UYLD) 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.

	UYLD	CSHI	Difference
Sharpe ratio: Return per unit of total volatility	7.96	6.21	+1.75
Sortino ratio: Return per unit of downside risk	21.74	11.93	+9.81
Omega ratio: Gain probability vs. loss probability	4.32	2.77	+1.55
Calmar ratio: Return relative to maximum drawdown	37.76	29.39	+8.37
Martin ratio: Return relative to average drawdown	225.62	155.42	+70.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UYLD vs. CSHI - Sharpe Ratio Comparison

The current UYLD Sharpe Ratio is 7.96, which is comparable to the CSHI Sharpe Ratio of 6.21. The chart below compares the historical Sharpe Ratios of UYLD 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

	UYLD	CSHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.96	6.21	+1.75
Sharpe Ratio (All Time) Calculated using the full available price history	5.99	4.19	+1.80

Drawdowns

UYLD vs. CSHI - Drawdown Comparison

The maximum UYLD drawdown since its inception was -0.54%, smaller than the maximum CSHI drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for UYLD and CSHI.

Drawdown Indicators

	UYLD	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-0.54%	-1.69%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-0.14%	-0.18%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.54%	-1.69%	+1.15%
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	0.02%	0.03%	-0.01%

Volatility

UYLD vs. CSHI - Volatility Comparison

Angel Oak Ultrashort Income ETF (UYLD) has a higher volatility of 0.38% compared to Neos Enhanced Income Cash Alternative ETF (CSHI) at 0.12%. This indicates that UYLD'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

	UYLD	CSHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	0.12%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	0.52%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	0.65%	0.86%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.00%	1.32%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.00%	1.32%	-0.32%

UYLD vs. CSHI - Expense Ratio Comparison

UYLD has a 0.29% expense ratio, which is lower than CSHI's 0.38% expense ratio.

Dividends

UYLD vs. CSHI - Dividend Comparison

UYLD's dividend yield for the trailing twelve months is around 5.03%, more 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%
UYLD Angel Oak Ultrashort Income ETF	5.03%	5.07%	4.97%	5.92%	0.75%

Frequently Asked Questions

Can I hold both UYLD and CSHI in my portfolio?

UYLD and CSHI have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UYLD or CSHI?

UYLD has higher volatility (0.38%) compared to CSHI (0.12%). In terms of maximum drawdown, UYLD dropped -0.54% vs CSHI's -1.69%.

Which ETF is better, UYLD or CSHI?

On 3-year performance, UYLD leads with 5.92% vs 5.45% for CSHI. On fees, UYLD is cheaper at 0.29% per year. On volatility, CSHI has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYLD or CSHI?

Over the 3-year period, UYLD has performed better with a 5.92% return vs 5.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYLD or CSHI?

UYLD is cheaper with a 0.29% expense ratio, compared with 0.38% for CSHI.

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

UYLD has the higher dividend yield at 5.03%, compared with 4.90% for CSHI.

What is the main difference between UYLD and CSHI?

They also come from different issuers: Angel Oak and Neos. Their fees differ too: 0.29% for UYLD and 0.38% for CSHI.

Which has better risk-adjusted returns?

UYLD currently has the higher Sharpe Ratio (7.96 vs 6.21), 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.