CSHI vs GQI

CSHIANeos Enhanced Income Cash Alternative ETF

GQIANatixis Gateway Quality Income ETF

In short

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.

GQI Most S&P 500 income funds sell calls against the whole book. GQI writes options on half its equity, leaves the other half unencumbered, screens its stocks for quality, and pays monthly.

Stated mandate

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.

GQI The Fund seeks current income with capital-appreciation potential. It invests in diversified high-quality U.S. common stocks and uses an options-selling overlay on 50% of the equity portfolio to support monthly cash distributions, enhance return, and reduce downside risk.

Why people hold it

• 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.

• GQI The options overlay covers 50% of the equity portfolio by design, so half the stock sleeve is never sitting under a call strike.
• At 0.34%, it undercuts the 0.60% median of its S&P 500 options-income cohort, and sits well below peers like SPYI (0.68%) and XYLD (0.60%).
• The equity side is a diversified basket of high-quality US common stocks, an advertised quality screen rather than a straight index clone.
• Cash goes out monthly, and the portfolio tracks the mandate in its prospectus closely. Rated in the top quartile of a 51-fund cohort of S&P 500 income strategies.

Worth knowing

• 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.

• GQI Written calls cap gains on the covered half. That is the trade: option premium now in exchange for giving up part of a strong rally.
• Shares are thinly traded, so the spread you pay getting in and out can matter more than the expense ratio.
• A 2023 launch with an asset base in the tens to low hundreds of millions, smaller and younger than the household names in this category.

Full CSHI profile⁠

Full GQI profile⁠