FTHI and SPYI are both covered call ETFs tracking the same benchmark, but with different approaches. FTHI offers ~8% yield with a focus on investor seeking actively managed covered call strategy, while SPYI provides ~11.7% yield targeting investor in taxable accounts seeking tax-efficient income. 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
First Trust BuyWrite Income ETF
4.9
Overall Score
NEOS S&P 500 High Income ETF
6.2
Overall Score
| Criteria | FTHI | SPYI |
|---|---|---|
| Overall Score | 4.9 6.2 | |
| Total Return (25%) | 3.7 7.1 | |
| Downside Protection (25%) | 5.2 5.5 | |
| Upside Participation (25%) | 6.6 7.5 | |
| Consistency (15%) | 4.8 4.3 | |
| Expense Ratio (5%) | 1.9 4.0 | |
| Liquidity (5%) | 5.3 7.4 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | FTHI | SPYI |
|---|---|---|
| Expense Ratio | 0.850% | 0.680% |
| Inception Date | Jan 6, 2014 | Aug 30, 2022 |
| Issuer | First Trust | NEOS |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 3/5 stars |
Underrated fund with solid track record — the high expense ratio is the main drag
Investor Profile:
Investor seeking actively managed covered call strategy
The optimal choice for taxable accounts — the Section 1256 tax advantage is underappreciated by the market
Investor Profile:
Investor in taxable accounts seeking tax-efficient income
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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