Rankings / IWMI
NEOS Russell 2000 High Income ETF
7.4
Overall Score
IWMI holds the Vanguard Russell 2000 ETF (VTWO) for about 99% of assets and layers Russell 2000 index options on top, both sold and purchased. The options qualify as Section 1256 contracts, taxed at the 60/40 rate. NEOS manages it actively and distributions have been classified as return of capital. It pays monthly.
Captured 81% of Russell 2000 upside with 25% lower volatility (13.9% vs 18.4%) and a 14.8% yield, over only 27 months.
Cumulative total return of IWMI against IWM, distributions reinvested.
Cumulative total return, rebased to 0% at the start of each period. Distributions reinvested. Data through end of previous month.
Calendar-year total return, distributions reinvested.
| Year | IWMI | IWM |
|---|---|---|
| 2026 YTD | +12.03% | +13.65% |
| 2025 | +15.01% | +12.66% |
| 2024 * | +5.36% | +9.61% |
Historical years are frozen. YTD is refreshed monthly. * Partial year: return from fund inception to December 31.
Composite score from six weighted criteria, measured since inception.
Performance since inception against the benchmark.
How much of the benchmark drawdown the fund absorbed.
How much of the benchmark rally the fund kept.
Frequency of distribution cuts below 85% of the previous payment.
Inversely proportional to the annual management fee.
Assets under management on a log scale.
Sector and geographic composition of IWMI underlying holdings.
| # | Symbol | Name | Weight |
|---|---|---|---|
| 1 | VTWO | Vanguard Russell 2000 ETF | 98.87% |
Holdings data from fund disclosures, updated periodically. Percentages may not sum to 100% due to cash, options, and other positions not shown.
The same six criteria, applied to different trailing periods. Pro subscribers see the full breakdown.
Since inception
7.4
3 years
7.4
1 year
7.9
3 months
6.7
How has IWMI ranked across inception, 3 years, 1 year, and 3 months? Pro subscribers can compare a fund's trajectory over every window, across all 28 funds.
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Expense Ratio
0.680%
Inception Date
September 14, 2023
Benchmark
IWM
Category
Covered Call - Small Cap
Distribution Frequency
Monthly
Maturity Rating
2/5 stars
Scores calculated using CoveredRank methodology. Every formula is published and reproducible.
See full methodology→Disclaimer: CoveredRank provides independent educational content only. This is not financial advice. Please consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results.