A head-to-head comparison of NEOS Enhanced Income 1-3 Month T-Bill ETF and iShares 0-3 Month Treasury Bond ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on CSHI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on SGOV.
1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker)
ICE 0-3 Month US Treasury Securities Index
Objective
Seeks to generate monthly income in a tax-efficient manner by holding 1-3 month U.S. Treasury bills with an S&P 500 put-spread options overlay.
Treasury Bond
Asset class
Equity
Fixed Income
Inception date
08/30/2022
05/26/2020
Beta
0.0316
-0.0029
Last dividend
$0.1944
$0.2960
Ex-dividend date
06/10/2026
07/01/2026
Bottom lineChoose CSHI if you want higher current income (4.68% vs 3.53% for SGOV). Choose SGOV if you want fixed-income ballast that steadies the portfolio when stocks fall.
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Want to go deeper?
Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — no signup required.
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both monthly-pay dividend ETFs, but they take different approaches.
CSHI offers the higher yield at 4.68% vs 3.53% for SGOV. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SGOV is cheaper with an expense ratio of 0.07% compared to 0.38%.
They track different benchmarks: CSHI is linked to 1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker) while SGOV tracks ICE 0-3 Month US Treasury Securities Index, which means their performance drivers differ.
SGOV is the larger fund by assets ($95.2B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose CSHI
NEOS Enhanced Income 1-3 Month T-Bill ETF
Want higher current income — CSHI yields 4.68% vs 3.53% for SGOV.
Want broad equity exposure.
Choose SGOV
iShares 0-3 Month Treasury Bond ETF
Want fixed-income ballast that cushions equity drawdowns.
Want to keep costs low — a 0.07% expense ratio vs 0.38% for CSHI.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, CSHI would generate roughly $39.00/month, while SGOV would produce $29.42/month, at current distribution rates. Both pay monthly distributions.
CSHI yield4.68%
SGOV yield3.53%
Monthly diff on $10K$9.58
Cost & efficiency
Over 10 years on $10,000, CSHI would cost approximately $380 in fees vs $70 for SGOV (simplified, not compounded). The $310.00 difference may be offset by yield or performance.
CSHI ER0.38%
SGOV ER0.07%
Strategy & risk
CSHI tracks 1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker) with a cash approach, while SGOV tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach. Beta is 0.0316 for CSHI and -0.0029 for SGOV, indicating SGOV is less volatile relative to the market.
CSHI beta0.0316
SGOV beta-0.0029
Fund details
CSHI is managed by NEOS (launched 08/30/2022) with $1.33B in assets. SGOV is managed by iShares (launched 05/26/2020) with $95.2B in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
Is CSHI or SGOV better for dividend income?
It depends on your goals. CSHI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between CSHI and SGOV?
CSHI (NEOS Enhanced Income 1-3 Month T-Bill ETF) tracks 1-3 Month U.S. Treasury Bills; overlay: S&P 500 index put spreads (active, not an index tracker) with a cash approach, while SGOV (iShares 0-3 Month Treasury Bond ETF) tracks ICE 0-3 Month US Treasury Securities Index with a treasury bond approach. They are issued by NEOS and iShares respectively.
Can I hold both CSHI and SGOV?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, CSHI or SGOV?
CSHI has an expense ratio of 0.38% while SGOV charges 0.07%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in CSHI vs SGOV generate?
At current rates, $10,000 in CSHI would generate roughly $39.00 per month ($468.00 annually). The same in SGOV would produce about $29.42 per month ($353.00 annually).
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Still deciding? Compare them against your own portfolio
See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.
