SPYI
NEOS S&P 500 High Income ETF
SPYI aims for tax-efficient and high monthly income by actively investing in stocks and options on the S&P 500 Index. The fund employs a call spread approach that uses SPX index option futures contracts.
US
EQUITY
Active
MANAGEMENT STYLE
3.7 B
ASSETS UNDER MGMT
68 bp
EXPENSES
Fund Basics
| Fund sponsor | Neos Investments LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 29, 2022 |
| Assets (mns) | $3,742 |
| Expense ratio | 68 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top Holdings
| MICROSOFT CORP | 6.8 % |
| NVIDIA CORP | 6.6 % |
| APPLE INC | 6.0 % |
| AMAZON.COM INC | 3.9 % |
| META PLATFORMS INC | 2.8 % |
| BROADCOM INC | 2.3 % |
| ALPHABET INC | 2.0 % |
| TESLA INC | 1.9 % |
| BERKSHIRE HATHAWAY INC | 1.9 % |
| ALPHABET INC | 1.6 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -3.5% | -1.1% | 0.7% | -- | -- | -- | -- | -0.1% |
| Dividend Yield | 1.0% | 7.3% | 10.1% | -- | -- | -- | -- | 10.8% |
| Total Returns | -2.6% | 6.2% | 10.8% | -- | -- | -- | -- | 10.7% | Ann. Volatility | 24.1% | 17.6% | 13.7% | -- | -- | -- | -- | 14.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.66 | 91% |
| MSCI EAFE | 0.35 | 29% |
| MSCI Emg Mkts | 0.28 | 15% |
Liquidity Measures
| Avg. volume (000) | 1,318 |
| ADV traded (mns) | $65 |
| Turnover | 1.8% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $49.67 |
| 30d moving avg. | $47.93 |
| Annualized volatility | 8.9% |
| Relative strength (RSI) | 53 |
| Short interest | 1.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| SPYI (68 bp) Percentile rank | 54 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SPYI | 68.0 | 8.4 | 76.4 |
| Peer Avg. | 49.0 | 20.1 | 69.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .