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 $11.7 billion in assets under management. It holds a C grade and ranks 5th out of 10 peers in its category, placing it in the middle of the pack for income-focused strategies. The fund’s 0.68% expense ratio exceeds the category median of 0.6%, while its 1.45% dividend yield trails the category median of 8.37% significantly. Despite the lower yield relative to peers, the fund concentrates its top ten holdings in 36.4% of its assets, with NVIDIA Corp representing the largest single position at 7.5%.

The fund’s price of $53.86 sits at 90.9% of its 52-week range, indicating it is near the top of its recent trading band. Short-term momentum shows a 1-month return of +0.81%, which accelerates into a 3-month gain of +5.17% and a year-to-date increase of +10.99%. Over the longer term, the 1-year return of +17.50% lags the category median of +18.66%, though the 3-year return of +57.36% demonstrates sustained growth. The ETFValuer grade has remained unchanged at C over the last 35 tracked days, reflecting a stable assessment of its performance relative to peers. Historical data is available for 3.0 years, providing a limited but sufficient record for this relatively new fund.

With a beta of 0.70, the fund exhibits lower sensitivity to market movements compared to the broader market. Annualized volatility is recorded at 10.65%, which is labeled as Low, suggesting a smoother ride than many equity peers. The Sharpe ratio of 1.17 indicates that the fund has generated favorable risk-adjusted returns relative to its volatility. Maximum drawdowns have reached -16.47%, highlighting the potential for significant temporary losses despite the low volatility label. Liquidity is robust, with an average daily volume of 2,667,452 shares and a tight bid/ask spread of 0.39%, facilitating easy entry and exit for investors.

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: 4.77% (as of 2026-09-03) — 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): 14.32 (as of 2026-09-03) — 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: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

SPYI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.39% and average daily volume is 2.7M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $11.7B 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