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

The Neos S&P 500(R) High Income ETF, trading under the ticker SPYI, operates within the Covered Call / Income category managed by Neos Funds. This fund has attracted significant investor adoption, evidenced by its $10.4 billion in assets under management and a current share price of $52.30. Despite its substantial size, the ETF holds an overall rank of #180 out of 458 tracked funds across all categories, receiving an ETFValuer grade of C with a score of 64.1 out of 100. The fund charges an expense ratio of 0.68% and offers a dividend yield of 1.46%. It is one of 10 ETFs tracked by ETFValuer in its specific category. The combination of high assets and a mid-tier rank suggests a fund that has gained traction but faces stiff competition within its peer group.

Over the last trading day, the fund posted a gain of +0.08%, though it retreated -0.46% over the subsequent week. Monthly performance showed acceleration with a +1.25% return, which extended to +3.69% over the three-month period. This upward momentum continued into the six-month horizon with a +5.84% return, while year-to-date gains reached +6.69%. The one-year return stood at +15.82%, and the three-year return accumulated to +49.70%. The data indicates a consistent positive trend across all measured horizons from one month to three years, with the three-year figure representing the strongest cumulative performance.

The fund carries a Low volatility label and a beta of 0.70, indicating that its price movements have historically been less sensitive to broader market fluctuations. A Sharpe ratio of 1.02 suggests that the returns generated have been efficient relative to the amount of risk taken. However, the fund experienced a maximum drawdown of -16.47% during its history, reflecting the potential for significant temporary declines. This combination of low beta and a moderate Sharpe ratio implies a strategy that seeks to dampen market swings while delivering returns, though the drawdown figure confirms that downside protection is not absolute. The risk profile aligns with a covered call approach that trades some upside potential for reduced volatility.

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

SPYI Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 36.6% 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 (36.6% 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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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 2026-06-01) — 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 0.08% and average daily volume is 2.8M/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 $10.4B 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