CSHI vs WTPI

CSHIANeos Enhanced Income Cash Alternative ETF

WTPIBWisdomTree Equity Premium Income Fund

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.

WTPI Most S&P 500 income ETFs own the stocks and sell calls. WTPI flips the trade: Treasury collateral plus put options written on the index twice a month, each sized to target a 2.5% premium.

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.

WTPI The fund seeks capital appreciation and current income through a put-writing strategy tied to U.S. large-cap equity exposure. It is designed to provide enhanced income and potentially lower volatility than traditional equity exposure.

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.

• WTPI The put-writer in a room full of covered-call funds. Income comes from selling S&P 500 puts against Treasury collateral, targeting a 2.5% premium per option, not from dividends.sec.govwisdomtree.com
• Trading since 2016 as the WisdomTree PutWrite Strategy Fund before its 2025 rename, it predates most of the option-income boom and has run through several volatility spikes.nasdaq.com
• 0.44% a year undercuts the typical fund in its S&P 500 options-income group, and distributions land monthly.wisdomtree.com
• It hews closely to its index, and among dozens of S&P 500 option-income funds it sits in the upper half of the pack.

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.

• WTPI The math is asymmetric by design: gains are capped at the premiums collected, while a written put can lose value down toward its strike if the market drops.businesswire.comsec.gov
• No stocks under the hood, so no underlying dividends, and WisdomTree flags that the strategy may distribute more capital gains than a typical ETF.businesswire.comsec.gov
• Cheaper than the peer median, not the cheapest on the shelf: IVVW runs 0.25%, RSPA 0.32%, BALI and GPIX 0.35%.

Full CSHI profile⁠

Full WTPI profile⁠