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BALI vs CSHI

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

Neos Enhanced Income Cash Alternative ETF

CSHIANYSE Arca

Overlap

Expense ratio

BALI −0.03pt a year

BALI0.35%CSHI0.38%

Avg volume · 30D

CSHI 2.1×the volume

BALI337KCSHI712K

3Y return · a year

BALI +15.9pt

BALI+21.2%CSHI+5.3%

BALI vs CSHI Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%BALI+4.8%CSHI

Oct 31, 2025 to Oct 30, 2026. BALI +15.6%. CSHI +4.8%. Use the arrow keys to read each point.0%10%Oct 2025Apr 2026Oct 2026
Expense ratio
BALI 0.35%, better
CSHI 0.38%
Fund size
BALI $1.54B
CSHI $2.12B
1Y total return
BALI +15.6%, better
CSHI +4.8%
Yield (12M)
BALI 7.84%, better
CSHI 4.82%
Holdings
BALI 193
CSHI 20
Avg volume (30D)
BALI 337K sh
CSHI 712K sh, better
NAV per share
BALI $34.08
CSHI $49.67
52W range

ETF.net Grade

BALI: Cost 77, Risk 56, Mission 100, Tradability 83, Holdings 83, Durability 85. CSHI: Cost 75, Risk 84, Mission 92, Tradability 98, Holdings 69, Durability 80.
Pillar letters and Scores for BALI, CSHI, with each pillar’s weight
PillarBALICSHI
Cost30% weightA77HigherA75
Mission25% weightA100HigherA92
Risk15% weightB56A84Higher
Tradability15% weightA83A98Higher
Holdings10% weightA83HigherB69
Durability5% weightA85HigherA80

Rank among S&P 500 Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BALI and CSHI are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds
See all 51 ›

CSHI ranks 1st and BALI 2nd of 51 funds in the S&P 500 Option Income Category.

  1. Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
  2. Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
  3. Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

CSHIANeos Enhanced Income Cash Alternative ETF

In short

BALI BlackRock's active answer to the covered-call crowd: roughly 200 hand-picked U.S. large caps, calls written on the S&P 500 itself rather than single stocks, monthly payouts, at well under the typical fee in its peer group.

CSHI A 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.

Stated mandate

BALI BALI seeks consistent income with lower volatility than the broader U.S. equity market. It primarily holds U.S. large-cap equities, sells calls on a large-cap equity index, and uses related index futures to pursue premium income and capital appreciation.

CSHI 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

  • BALI 0.35% a year against a 0.60% median for S&P 500 option-income funds, and below what XYLD (0.60%) or SPYI (0.68%) charge for similar work.
  • Actively run, not a mechanical buy-write: about 200 large caps picked by the manager, index calls sold on top, index futures used alongside.ishares.com
  • Pays monthly, and the mandate chases capital appreciation as well as premium, so the stock sleeve is not just collateral for the options.
  • Does what its documents say it does, and stands among the stronger implementations in the S&P 500 option-income group.
  • CSHI 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

  • BALI Selling index calls swaps part of a big rally for premium. The design targets lower volatility than the broad market, not maximum upside.
  • Distributions can include return of capital, meaning part of a payout may be your own money coming back rather than fund earnings.ishares.com
  • Launched in 2023, so the track record is short, and it trades at moderate volume rather than with the tightest spreads in the category.
  • CSHI 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.

Full BALI profile⁠

Full CSHI profile⁠

BALI vs CSHI Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BALI vs CSHI Cost

Overpaying CSHI vs BALI

$580

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BALI 0.35%

    $7,126

  • CSHI 0.38%

    $7,706

$10,000
30 years

Cost over time

  • BALI 0.35%
  • CSHI 0.38%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530CSHI $7,706BALI $7,126

Year by year

YearBALICSHIOverpaying
10$634$688$54
20$2,454$2,658$204
30$7,126$7,706$580

Expense ratio

  • 0.35%BALI, cheaper
  • 0.38%CSHI
  • Middle half of S&P 500 Option Income funds
  • Median 0.60%

BALI 11th cheapest of 51 funds

CSHI 13th cheapest of 51 funds

BALI vs CSHI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BALI 7.84%, better
CSHI 4.82%
Payout (12M)
BALI $2.67
CSHI $2.39
Last payment
BALI $0.18
CSHI $0.21
Ex-dividend
BALI Oct 1, 2026
CSHI Oct 14, 2026
Paid on
BALI Oct 6, 2026
CSHI Oct 16, 2026
Frequency
BALI Monthly
CSHI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 36 paymentsAll BALI payments⁠
One bar per payment. 36 payments from 2023 to 2026 YTD. Nov 1, 2023 $0.20; Dec 1, 2023 $0.16; Dec 14, 2023 $0.21; Feb 1, 2024 $0.16; Mar 1, 2024 $0.18; Apr 1, 2024 $0.14; May 1, 2024 $0.20; Jun 3, 2024 $0.13; Jul 1, 2024 $0.17; Aug 1, 2024 $0.19; Sep 3, 2024 $0.23; Oct 1, 2024 $0.20; Nov 1, 2024 $0.13; Dec 2, 2024 $0.23; Dec 18, 2024 $0.20; Feb 3, 2025 $0.17; Mar 3, 2025 $0.21; Apr 1, 2025 $0.25; May 1, 2025 $0.38; Jun 2, 2025 $0.23; Jul 1, 2025 $0.20; Aug 1, 2025 $0.20; Sep 2, 2025 $0.19; Oct 1, 2025 $0.19; Nov 3, 2025 $0.19; Dec 1, 2025 $0.25; Dec 30, 2025 $0.22; Feb 2, 2026 $0.18; Mar 2, 2026 $0.20; Apr 1, 2026 $0.35; May 1, 2026 $0.22; Jun 1, 2026 $0.22; Jul 1, 2026 $0.27; Aug 3, 2026 $0.19; Sep 1, 2026 $0.21; Oct 1, 2026 $0.18. Use the arrow keys to read each point.$0$0.2520232026YTD
CSHIMonthly · 46 paymentsAll CSHI payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 25, 2023 $0.23; Feb 23, 2023 $0.24; Mar 22, 2023 $0.25; Apr 26, 2023 $0.26; May 24, 2023 $0.27; Jun 22, 2023 $0.27; Jul 26, 2023 $0.27; Aug 23, 2023 $0.28; Sep 20, 2023 $0.26; Oct 25, 2023 $0.26; Nov 22, 2023 $0.26; Dec 20, 2023 $0.25; Jan 24, 2024 $0.25; Feb 21, 2024 $0.25; Mar 20, 2024 $0.25; Apr 24, 2024 $0.25; May 22, 2024 $0.23; Jun 26, 2024 $0.23; Jul 24, 2024 $0.23; Aug 21, 2024 $0.24; Sep 25, 2024 $0.23; Oct 23, 2024 $0.23; Nov 20, 2024 $0.23; Dec 24, 2024 $0.23; Jan 22, 2025 $0.22; Feb 26, 2025 $0.22; Mar 26, 2025 $0.21; Apr 23, 2025 $0.21; May 21, 2025 $0.21; Jun 25, 2025 $0.21; Jul 23, 2025 $0.21; Aug 20, 2025 $0.21; Sep 24, 2025 $0.21; Oct 22, 2025 $0.21; Nov 26, 2025 $0.20; Dec 24, 2025 $0.20; Jan 14, 2026 $0.20; Feb 11, 2026 $0.20; Mar 11, 2026 $0.19; Apr 15, 2026 $0.19; May 13, 2026 $0.19; Jun 10, 2026 $0.19; Jul 15, 2026 $0.19; Aug 12, 2026 $0.21; Sep 9, 2026 $0.21; Oct 14, 2026 $0.21. Use the arrow keys to read each point.$0$0.2520232026YTD

BALI vs CSHI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BALI 10.2%CSHI 0.3%, better
Return per unit of riskSharpe ratio, 3 years
BALI 1.52CSHI 2.04, better
Worst fallMax drawdown, 5 years
BALI −16.6%since Sep 2023CSHI −1.7%since Aug 2022
Market sensitivityBeta, 5 years
BALI 0.79CSHI 0.01

BALI and CSHI in the news

All news⁠

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