VTG vs. CSHI

Last updated Jun 25, 2026

VTG (Vanguard Total Treasury ETF) and CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) are both exchange-traded funds - VTG is a Intermediate Core Bond fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index, while CSHI is a Ultrashort Bond fund actively managed by Neos. VTG is passively managed, while CSHI is actively managed. At a 0.23 correlation, their price movements are largely independent. VTG charges 0.03%/yr vs 0.38%/yr for CSHI.

Performance

VTG vs. CSHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Treasury ETF (VTG) 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, VTG achieves a 0.59% return, which is significantly lower than CSHI's 2.39% return.

VTG

• 1D: 0.48%
• 1M: 1.13%
• YTD: 0.59%
• 6M: 0.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CSHI

• 1D: 0.00%
• 1M: 0.27%
• YTD: 2.39%
• 6M: 2.47%
• 1Y: 5.00%
• 3Y*: 5.40%
• 5Y*: —
• 10Y*: —

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

VTG vs. CSHI - Yearly Performance Comparison

	2026 (YTD)	2025
VTG Vanguard Total Treasury ETF	0.59%	3.07%
CSHI NEOS Enhanced Income 1-3 Month T-Bill ETF	2.39%	2.27%

Correlation

The correlation between VTG and CSHI is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.23

Return for Risk

VTG vs. CSHI — Risk / Return Rank

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

VTG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

VTG vs. CSHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Treasury ETF (VTG) 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.

	VTG	CSHI	Difference
Sharpe ratio: Return per unit of total volatility	—	5.63	—
Sortino ratio: Return per unit of downside risk	—	10.15	—
Omega ratio: Gain probability vs. loss probability	—	2.56	—
Calmar ratio: Return relative to maximum drawdown	—	23.70	—
Martin ratio: Return relative to average drawdown	—	126.95	—

Drawdowns

VTG vs. CSHI - Drawdown Comparison

The maximum VTG drawdown since its inception was -2.89%, which is greater than CSHI's maximum drawdown of -1.69%. Use the drawdown chart below to compare losses from any high point for VTG and CSHI.

Drawdown Indicators

	VTG	CSHI	Difference
Max Drawdown Largest peak-to-trough decline	-2.89%	-1.69%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.69%	—
Current Drawdown Current decline from peak	-1.21%	-0.02%	-1.19%
Average Drawdown Average peak-to-trough decline	-0.79%	-0.03%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.04%	—

Volatility

Volatility by Period

	VTG	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	3.54%	0.90%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	1.33%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	1.33%	+2.21%

VTG vs. CSHI - Expense Ratio Comparison

VTG has a 0.03% expense ratio, which is lower than CSHI's 0.38% expense ratio.

Dividends

VTG vs. CSHI - Dividend Comparison

VTG's dividend yield for the trailing twelve months is around 3.18%, 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%
VTG Vanguard Total Treasury ETF	3.18%	1.65%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTG and CSHI in my portfolio?

VTG and CSHI have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VTG or CSHI?

On fees, VTG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VTG or CSHI?

VTG is cheaper with a 0.03% expense ratio, compared with 0.38% for CSHI.

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

CSHI has the higher dividend yield at 5.31%, compared with 3.18% for VTG.

What is the main difference between VTG and CSHI?

VTG is categorized as Intermediate Core Bond, while CSHI is Ultrashort Bond. They also come from different issuers: Vanguard and Neos. Their fees differ too: 0.03% for VTG and 0.38% for CSHI.