SPYI and ETV are both covered call ETFs tracking the same benchmark, but with different approaches. SPYI offers ~11.7% yield with a focus on investor in taxable accounts seeking tax-efficient income, while ETV provides ~8% yield targeting income investor comfortable with cef structure seeking long track record. 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
NEOS S&P 500 High Income ETF
6.2
Overall Score
Eaton Vance Tax-Managed Buy-Write Opportunities
5.5
Overall Score
| Criteria | SPYI | ETV |
|---|---|---|
| Overall Score | 6.2 5.5 | |
| Total Return (25%) | 7.2 5.8 | |
| Downside Protection (25%) | 5.3 3.5 | |
| Upside Participation (25%) | 7.5 8.2 | |
| Consistency (15%) | 4.3 5.0 | |
| Expense Ratio (5%) | 4.0 1.4 | |
| Liquidity (5%) | 7.4 5.0 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | SPYI | ETV |
|---|---|---|
| Expense Ratio | 0.680% | 0.890% |
| Inception Date | Aug 30, 2022 | Sep 30, 2005 |
| Issuer | NEOS | Eaton Vance |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 5/5 stars |
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
Historical value for stress-testing — but newer ETF alternatives offer better structure and lower fees
Investor Profile:
Income investor comfortable with CEF structure seeking long track record