CSHI vs HEMI

CSHIANeos Enhanced Income Cash Alternative ETF

HEMIBHartford Equity Premium 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.

HEMI Hartford's late entry into the crowded S&P 500 premium-income field, with a twist: an actively picked, value-quality-momentum stock book sits under the options overlay, aimed at tax-efficient income while leaving room to appreciate.

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.

HEMI Seeks tax-efficient current income while retaining potential for capital appreciation.

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.

• HEMI Not a plain index buy-write. An active portfolio screened on value, quality and momentum sits under the options sleeve, with the S&P 500 as the reference point.
• The mandate is written for tax-efficient current income while retaining potential for capital appreciation, not income at any cost.
• At 0.58%, the fee lands just under the median for S&P 500 options-income ETFs, a group where plenty of funds charge north of 0.90%.

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.

• HEMI It launched in December 2025, so there is no multi-year record showing how the strategy handles a full market cycle.
• A small asset base and light trading make spreads wider than in the category's giants. Limit orders matter more here.
• Cheaper rivals crowd the same trade: IVVW at 0.25%, RSPA at 0.32%, GPIX and BALI at 0.35%.

Full CSHI profile⁠

Full HEMI profile⁠