Rankings / SPYI
NEOS S&P 500 High Income ETF
7.2
Overall Score
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.
Pays 11.9%, 3.7 points more than GPIX, at a fee 2.3 times higher (0.68% vs 0.29%).
Cumulative total return of SPYI against SPY, 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 | SPYI | SPY |
|---|---|---|
| 2026 YTD | +10.80% | +12.71% |
| 2025 | +16.66% | +17.72% |
| 2024 | +19.04% | +24.89% |
| 2023 | +18.13% | +26.19% |
| 2022 * | -1.94% | -2.37% |
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 SPYI underlying holdings.
| # | Symbol | Name | Weight |
|---|---|---|---|
| 1 | NVDA | NVIDIA | 8.57% |
| 2 | AAPL | Apple | 7.30% |
| 3 | MSFT | Microsoft | 5.85% |
| 4 | AMZN | Amazon.com | 3.79% |
| 5 | GOOGL | Alphabet | 3.04% |
| 6 | AVGO | Broadcom | 2.66% |
| 7 | GOOG | Alphabet | 2.45% |
| 8 | META | Meta Platforms | 2.34% |
| 9 | MU | Micron Technology | 1.81% |
| 10 | TSLA | Tesla | 1.58% |
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
7.2
3 years
7.3
1 year
8.2
3 months
9.6
How has SPYI 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
August 30, 2022
Benchmark
SPY
Category
Covered Call - Large Cap
Distribution Frequency
Monthly
Maturity Rating
3/5 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.