CSHI ETF — NEOS Enhanced Income 1-3 Month T-Bill ETF

NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI)

Updated October 2, 2026.

CSHI is an ETF that tracks the 1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker). its distribution rate is 4.99%, its trailing-12-month yield is 4.82%, its expense ratio is 0.38%. Dividend Vision Distribution Safety Score™ is 86/100 (Safe). Total return is 24.0% over the past 4.1 years, 80.4 points behind SPY at 104.4%.

At the current 4.99% distribution rate, a $10,000 investment would generate approximately $499 per year, or $41.58 per month.

NEOS Enhanced Income 1-3 Month T-Bill ETF is an actively managed fund that holds short-duration U.S. Treasury bills while overlaying S&P 500 put spreads to generate income beyond what the Treasury holdings alone provide. The fund distributes monthly income at a high current rate, with an expense ratio of 0.38%. It appeals to income-focused investors seeking tax-efficient yield from a strategy combining the stability of short-term Treasuries with options-based income generation.

CSHI performance versus SPY

Price and return data through 2026-10-02.

Total return is 24.0% over the past 4.1 years, 80.4 points behind SPY at 104.4%. Over the past year its total return — price change plus distributions reinvested — is 5.0%. Its deepest 1-year drawdown was 0.2%.

CSHI key facts

Distribution Safety Score™

86 · Safe

Safety-Adjusted Yield

4.29%

Issuer

NEOS

Asset type

ETF

Asset class

Equity

Inception date

08/30/2022

Expense ratio

0.38%

Distribution rate

4.99%

Distribution frequency

Monthly

Trailing yield

4.82%

Last close

$49.73 (as of 2026-10-02)

AUM

$1,887,810,919

Average volume

919800.0

Last dividend

$0.2066

Last ex-dividend date

09/09/2026

Last payment date

09/11/2026

Beta

0.0316

P/E ratio

24.6014

How Dividend Vision calculates yield and returns

Distribution rate (4.99%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (4.82%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: NEOS or company page; Fact sheet; Prospectus; Index: 1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CSHI risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.2%.

Who may consider CSHI — and who may not

CSHI may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare CSHI

CSHI vs similar funds:

• CSHI vs SGOV

Frequently asked questions

More securities from NEOS.