SPYI — Neos S&P 500(R) High Income ETF

SPYI Price Performance — Growth of $10,000

Value of a $10,000 investment in SPYI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

SPYI Drawdown

The "underwater" chart: SPYI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

Issued by Neos Funds, the Neos S&P 500(R) High Income ETF is a covered call strategy fund with $12.2 billion in assets under management. It holds a B grade and ranks 4th out of 10 peers in its category, placing it in the upper tier of similar income-focused vehicles. The fund’s 0.68% expense ratio sits slightly above the category median of 0.6%, while its 12.01% dividend yield exceeds the peer average of 11.79%. Concentration risk is evident, with the top ten holdings comprising 36.4% of assets and NVIDIA Corp representing the largest single position at 7.5%.

The fund’s price of $52.64 sits at 72.7% of its 52-week range, reflecting a recent upgrade from a C to a B grade on September 23, 2026. Short-term performance shows modest declines over the past day, week, and month, contrasting with a stronger 14.14% return over the last year. This one-year result outpaces the category median of 13.14%, indicating relative strength in the longer horizon. The record spans only 3.0 years, limiting the depth of historical context for these returns.

With a beta of 0.69, the ETF exhibits lower sensitivity to market movements compared to the broader index. Annualized volatility of 10.62% is classified as low, contributing to a Sharpe ratio of 0.86 that suggests efficient risk-adjusted returns. The maximum drawdown of -16.47% highlights the extent of peak-to-trough losses during the tracked period. Liquidity remains robust, supported by an average daily volume of 2,785,226 shares.

AI-generated summary based on the data on this page.

SPYI Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 36.4% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPYI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With SPYI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPYI's top 10 — VTI overlaps most, holding 9 of the same companies as SPYI's top 10 (36.4% of SPYI's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPYI Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 2.8M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $12.2B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: SPYI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

SPYI Performance History

How SPYI Compares to Other Covered Call / Income ETFs