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. With assets under management totaling $10.4 billion and a current share price of $52.46, the fund has achieved significant scale relative to its peers. It holds an overall rank of #185 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 63.5 out of 100. The fund charges an expense ratio of 0.68% while offering a dividend yield of 1.46%. Although the category contains 10 ETFs tracked by ETFValuer, SPYI represents a substantial portion of the sector by asset size. The combination of high assets and a mid-tier grade suggests broad investor adoption despite the moderate performance rating.

Over the last day, the ETF gained 0.27% before declining 0.83% over the subsequent week. Monthly returns accelerated to +1.91% and continued to build momentum with a 3-month return of +3.40%. This upward trajectory extended to a 6-month gain of +5.69% and a year-to-date increase of +7.02%. The one-year return reached +15.85%, which compares to peer GPIX at +17.95% and XYLD at +16.88% over the same period. The longer-term trend shows significant growth, with a three-year return of +51.76% indicating sustained performance over multiple market cycles. The data reflects a pattern of consistent gains that have strengthened as the investment horizon extends from daily fluctuations to multi-year periods.

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 swings. A Sharpe ratio of 1.03 suggests the fund has generated a favorable amount of return relative to the volatility experienced. However, the maximum drawdown of -16.47% highlights the potential for significant temporary losses during market downturns. This combination of low beta and a moderate Sharpe ratio implies the fund may offer some downside protection while still participating in market rallies. The max drawdown figure serves as a reminder that even funds with low volatility labels can experience substantial declines. Investors should consider that the fund's risk profile balances reduced sensitivity to market moves with the possibility of notable drawdowns during stress periods.

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: 4.65% (as of 2026-07-27) — 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): 18.67 (as of 2026-07-27) — 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 — 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