Neos Enhanced Income Cash Alternative ETF
$49.68+0.02 (+0.04%)
- Expense ratio
- 0.38%
- Fund size
- $1.9B
- 1Y return
- +4.9%
- Yield · Last 12 months
- 5.25%
- Holdings
- 10
- Volume · 30D
- 0.6M sh
- NAV per share
- $49.65
- 52W range
The ETF.net CSHI Grade
Score 81 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 73Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 88Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 83Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 98Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 70Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 80Category rank
Our read on CSHI
AA T-bill sleeve with a side hustle. CSHI parks in 1-3 month Treasuries and sells S&P 500 index puts on top, paying monthly. In a peer group built on stocks plus options, it is the cash-first one.
The Fund seeks monthly income by investing in 1-3 month Treasury bills or related ETFs and using S&P 500 Index put options to generate additional income.
Why people hold it
- Charges 0.38% a year, below the 0.60% median for its options-income cohort and cheaper than buy-write mainstays like XYLD (0.60%).
- Two income engines: interest from 1-3 month Treasury bills, plus premium collected from selling S&P 500 index put options. Distributions land monthly.neosfunds.com
- Running since 2022, now a multi-billion-dollar fund that trades actively, and one of the strongest implementations in its peer group.
Worth knowing
- Selling index puts imports equity risk. A sharp S&P 500 drop can cost the options side money, so this moves less predictably than a plain Treasury bill fund.neosfunds.com
- Income is variable by design, riding short-term Treasury rates and option premium levels rather than a fixed coupon.
- Its cohort is mostly S&P 500 stock-plus-options funds, while CSHI's core is Treasuries. Side-by-side yield comparisons are not apples to apples.
CSHI Holdings
- Bonds
- 10
- 72%
- 912797VG9
Geography
- United States100.00%
CSHI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CSHI |
|---|---|
| Year to date | +3.5% |
| 1 month | +0.3% |
| 3 months | +1.1% |
| 1 year | +4.9% |
| 3 years | +5.3% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CSHI |
|---|---|---|
| 2026 YTD | +3.5% | |
| 2025 | +5.0% | |
| 2024 | +5.6% | |
| 2023 | +6.2% | |
| 2022 | +1.5% |
CSHI in the news
ETF.net Research hasn’t filed on CSHI yet — coverage lands here as it’s written.
CSHI Dividends
- 5.25%
- $2.61
- $0.21 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 9, 2026 | Sep 11, 2026 | $0.21 |
| Aug 12, 2026 | Aug 14, 2026 | $0.21 |
| Jul 15, 2026 | Jul 17, 2026 | $0.19 |
| Jun 10, 2026 | Jun 12, 2026 | $0.19 |
| May 13, 2026 | May 15, 2026 | $0.19 |
| Apr 15, 2026 | Apr 17, 2026 | $0.19 |
| Mar 11, 2026 | Mar 13, 2026 | $0.19 |
| Feb 11, 2026 | Feb 13, 2026 | $0.20 |
| Jan 14, 2026 | Jan 16, 2026 | $0.20 |
| Dec 24, 2025 | Dec 26, 2025 | $0.20 |
| Nov 26, 2025 | Nov 28, 2025 | $0.20 |
| Oct 22, 2025 | Oct 24, 2025 | $0.21 |
CSHI Risk
- 0.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 2.06
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −1.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CSHI Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
14 of the 51 S&P 500 Option Income funds charge less.