BALI and SPYI are both covered call ETFs tracking the same benchmark, but with different approaches. BALI offers a 7.83% yield, while SPYI provides a 11.92% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
iShares U.S. Large Cap Premium Income Active ETF
7.26
Overall Score
NEOS S&P 500 High Income ETF
7.23
Overall Score
| Criteria | BALI | SPYI |
|---|---|---|
| Overall Score | 7.26 7.23 | |
| Total Return (25%) | 9.07 7.34 | |
| Downside Protection (25%) | 3.93 5.75 | |
| Upside Participation (25%) | 8.88 7.54 | |
| Consistency (15%) | 7.19 10.00 | |
| Expense Ratio (5%) | 9.38 4.00 | |
| Liquidity (5%) | 4.90 7.40 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | BALI | SPYI |
|---|---|---|
| Expense Ratio | 0.350% | 0.680% |
| Inception Date | Oct 18, 2022 | Aug 30, 2022 |
| Issuer | BlackRock | NEOS |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 3/5 stars |
Keeps 89% of S&P 500 upside for a 7.8% yield, but with 36 months of history and 80% down capture the downside protection is modest.
Investor Profile:
BALI is an actively managed BlackRock fund run by its Systematic Active Equity team (Robert Fisher, Travis Cooke, Raffaele Savi). It holds about 203 large-cap U.S. stocks, with technology at 36.8% of assets. It sells call options on a large-cap equity index to collect premium and pays monthly. Its benchmark is the S&P 500.
Pays 11.9%, 3.7 points more than GPIX, at a fee 2.3 times higher (0.68% vs 0.29%).
Investor Profile:
SPYI is an actively managed NEOS fund that holds S&P 500 stocks, 511 positions, and uses a call spread approach on SPX index option futures. The options qualify as Section 1256 contracts, taxed at the 60/40 rate. NEOS aims for high monthly income in a tax-efficient way, and distributions are partly return of capital. It pays monthly.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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