CSHI vs USFR: Yield, Cost and Returns Compared
As of Nov 5, 2026, CSHI yields more: 4.81% (current yield) against 3.71% for USFR. USFR is cheaper to own at 0.15% a year vs 0.38%. Over the same 4 years (Aug 2022 to Oct 2026), CSHI returned 5.4% a year with distributions reinvested, and USFR 4.7%. CSHI's income is partly from Treasuries and partly from options; USFR's is generally exempt from state income tax.
USFRWisdomTree Floating Rate Treasury Fund3.71%current yield| Compared | CSHI | USFR |
|---|---|---|
| YieldCurrent yield | 4.81% | 3.71% |
| Expense ratio | 0.38% | 0.15% |
| Total return, 1 yr | +4.8% | +4.0% |
| Total return, 3 yr (a year) | +5.3% | +4.6% |
| Total return, 5 yr (a year) | — | +4.0% |
| Total return, 10 yr (a year) | — | +2.6% |
| Worst drop since Aug 2022 | 0.0% | 0.0% |
| Share price since Aug 2022 | −1% | +0% |
| Pays | Monthly | Monthly |
| Issuer | Neos | WisdomTree |
| Assets | $2.1B | $21.3B |
| Started | 2022 | 2014 |
| Type | T-bills plus options | Treasury ETF |
Higher yield
CSHI
4.81%
Lower cost
USFR
0.15%
Better total return
CSHI
5.4%/yr
Smaller worst drop
CSHI
0.0%
Key facts: CSHI vs USFR
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, CSHI yields 4.81% (current yield) and USFR yields 3.71% (current yield).
- CSHI's expense ratio is 0.38% and USFR's is 0.15%: $38 vs $15 a year on $10,000.
- From Aug 2022 to Oct 2026, $10,000 in CSHI grew to $12,437 (5.4% a year) and $10,000 in USFR to $12,095 (4.7% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for CSHI and 0.0% for USFR.
- CSHI's income is partly from Treasuries and partly from options, while USFR's is generally exempt from state income tax.
Cite this page
SmarterDividends, "CSHI vs USFR: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/cshi-vs-usfr
$10,000 in each, Aug 2022 to Oct 2026
Distributions reinvested, month-end values.
CSHI became
$12,437
5.4% a year
USFR became
$12,095
4.7% a year
Year by year
| Year | CSHI | USFR |
|---|---|---|
| 2025 | +5.1% | +4.2% |
| 2024 | +5.6% | +5.5% |
| 2023 | +6.2% | +5.2% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- CSHI · T-bills plus options
- Holds Treasury bills and sells options for extra income, so it pays more than a T-bill fund but its price can move more.
- USFR · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
Top holdings
No overlap in the top ten.
CSHI
- Holdings not reported.
USFR
- DTRXX BNY Dreyfus Treasury Oblgtns Csh Mgt Ins0.0%
CSHI vs USFR: questions
Is CSHI or USFR better?
It depends on the job. CSHI pays more today (4.81% vs 3.71%), USFR costs less, and CSHI has the better total return over Aug 2022 to Oct 2026, with CSHI holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, CSHI or USFR?
CSHI, at 4.81% against 3.71% for USFR as of Nov 5, 2026. On $10,000 that's about $481 vs $371 a year at today's rates.
Which has the better total return?
CSHI. From Aug 2022 to Oct 2026, it returned 5.4% a year with distributions reinvested, against 4.7% for USFR. $10,000 became $12,437 vs $12,095.
Which is cheaper, CSHI or USFR?
USFR, with a 0.15% expense ratio against 0.38%.
How are CSHI and USFR taxed?
CSHI: Holds Treasury bills and sells options for extra income, so it pays more than a T-bill fund but its price can move more. USFR: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). General information, not tax advice.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. CSHI leads on 3 of 4 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.