SIXH and SPYI are both covered call ETFs tracking the same benchmark, but with different approaches. SIXH offers a 1.77% 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
6 Meridian Hedged Equity-Income ETF
6.21
Overall Score
NEOS S&P 500 High Income ETF
7.23
Overall Score
| Criteria | SIXH | SPYI |
|---|---|---|
| Overall Score | 6.21 7.23 | |
| Total Return (25%) | 5.42 7.34 | |
| Downside Protection (25%) | 10.00 5.75 | |
| Upside Participation (25%) | 4.39 7.54 | |
| Consistency (15%) | 5.95 10.00 | |
| Expense Ratio (5%) | 2.75 4.00 | |
| Liquidity (5%) | 4.63 7.40 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | SIXH | SPYI |
|---|---|---|
| Expense Ratio | 0.780% | 0.680% |
| Inception Date | Oct 8, 2020 | Aug 30, 2022 |
| Issuer | 6 Meridian | NEOS |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 4/5 stars | 3/5 stars |
Cut the worst drawdown to -10.1% (SPY -23.9%), but pays only 1.8% and captured 44% of S&P 500 upside.
Investor Profile:
SIXH is an actively managed Exchange Traded Concepts fund that provides exposure to U.S. equities, 52 positions, and sells call options against SPY. Its largest positions are SPY (5.1%) and Altria (5.0%). The hedged label and a 20% down capture indicate a protective component, but the fund page does not describe it [to confirm with 6 Meridian]. It pays monthly.
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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