Data as of Oct 28, 2026.
BIL vs CSHI: Differences, Returns & Fees
Over the year to Oct 28, 2026, BIL returned +3.7% to CSHI's +4.9%, and BIL charges 0.14% to CSHI's 0.38%.
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Net assets on Oct 27, 2026: $48.7bn for SPDR Bloomberg 1-3 Month T-Bill ETF and $2.1bn for NEOS Enhanced Income 1-3 Month T-Bill ETF.
Pair scorecard
BIL costs 0.24 points a year less; their one-year returns differ by 1.2 points; BIL is far larger, $48.7bn against $2.1bn.
| Measure | BIL | CSHI |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.7% | +4.9% |
| Price change, 1 year | fell 0.1% | fell 0.0% |
| Latest payout, annualized | 5.0% | |
| Return of capital, issuer estimate | 24% of the Oct 16, 2026 payment | |
| Benchmark | ||
| What it tracks | Bloomberg 1-3 Month U.S. Treasury Bill Index | Benchmark: 1-3 month T-bills, measured through BIL |
| Cost and size | ||
| Expense ratio | 0.14% | 0.38% |
| Net assets, as of Oct 27, 2026 | $48.7bn | $2.1bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Sep 9, 2022 to Oct 23, 2026 · 215 weekly returnsCSHI returned more: +24.1% to +19.5%. BIL swung less: 0.1% to 1.0%. BIL fell less at its worst: 0.0% to −1.3%.
Full scorecard
8 measures, with how each is measured Open ↓
| Measure | BIL | CSHI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +19.5% | +24.1% | CSHI | Price change plus distributions, reinvested. |
| Annualized | +4.4% | +5.4% | CSHI | Total return as a yearly rate. |
| Price return | +0.2% | −0.9% | BIL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 0.1% | 1.0% | BIL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 0.1% | 0.7% | BIL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | 0.0% | −1.3% | BIL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −1.63 | 0.69 | CSHI | Return above Treasury bills per unit of volatility. |
| Sortino | −1.93 | 0.91 | CSHI | Return above Treasury bills per unit of downside deviation. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 215 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BIL and CSHI hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Side by side
BIL and CSHI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price.
BIL and CSHI do different jobs. What does each one do in a portfolio?
- What each follows. BIL follows Bloomberg 1-3 Month U.S. Treasury Bill Index and CSHI is measured against 1-3 month T-bills through BIL.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Oct 28, 2026).
- Cost. BIL charges 0.14% of assets a year and CSHI 0.38%, a gap of 0.24 points.
Data as of Oct 28, 2026.
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BIL
BIL tracks an index of 1-3 month T-bills. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested. The prospectus expense ratio is 0.14% a year.
CSHI
Over the year to Oct 28, 2026, CSHI paid 4.8% of its starting value in cash distributions while its price fell 0.0%. With every distribution reinvested, the fund returned +4.9%. 1-3 month T-bills (BIL) returned +3.7% over the same days, so a holder was ahead by 1.2 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 5.0%, paid monthly. NEOS estimates that 24% of the distribution paid Oct 16, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
- Are BIL and CSHI in the same category?
- BIL is a bond ETF and CSHI is an option-income ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, BIL or CSHI?
- In the year to Oct 28, 2026, with distributions reinvested, BIL returned +3.7% and CSHI +4.9%.
- Which is cheaper, BIL or CSHI?
- BIL is cheaper, by 0.24 percentage points a year. That is about $24 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, BIL against CSHI, data as of Oct 28, 2026. https://etfiq.com/compare/any/bil-vs-cshi
ETFIQ. (Oct 28, 2026). BIL against CSHI. Retrieved from https://etfiq.com/compare/any/bil-vs-cshi
[BIL against CSHI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bil-vs-cshi)
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