NEOS Russell 2000 High Income ETF (IWMI) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with IWMI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to IWMI
IWMI charges 0.68% annually. There are 80 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 29.05M | Nov 2024 | IWMI vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 329.53M | Mar 2024 | IWMI vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 46.39M | Sep 2024 | IWMI vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | IWMI vs FYEE | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.29% | 5.01B | Oct 2023 | IWMI vs GPIX |
Best Risk-Adjusted Alternatives to IWMI
IWMI has a PortfoliosLab risk / return rank of 87. There are 14 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| SoFi Enhanced Yield ETF | 96 | 34.73M | Nov 2023 | IWMI vs THTA | |
| Global X S&P 500 Covered Call ETF | 92 | 3.24B | Jun 2013 | IWMI vs XYLD | |
| Invesco S&P 500 BuyWrite ETF | 92 | 358.08M | Dec 2007 | IWMI vs PBP | |
| Simplify Treasury Option Income ETF | 91 | 489.70M | Oct 2022 | IWMI vs BUCK | |
| Global X Russell 2000 Covered Call ETF | 90 | 1.37B | Apr 2019 | IWMI vs RYLD |
Top Performing IWMI Alternatives (YTD)
IWMI is at 18.49% YTD. There are 29 ETFs in the Derivative Income category with higher YTD returns, going as high as 184.82%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 184.82% | 22.04M | Oct 2025 | IWMI vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 175.61% | 114.09M | Jul 2025 | IWMI vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 105.10% | 382.78M | Sep 2023 | IWMI vs AMDY | |
| YieldMax Target 12™ Semiconductor Option Income ET... | 70.13% | 64.01M | Dec 2024 | IWMI vs SOXY | |
| YieldMax MRNA Option Income Strategy ETF | 67.49% | 106.87M | Oct 2023 | IWMI vs MRNY |
Lowest Volatility Alternatives to IWMI
IWMI has 15.34% 1-year volatility. There are 113 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.47%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.47% | 489.70M | Oct 2022 | IWMI vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | 2.94% | 112.06M | Aug 2022 | IWMI vs HYGW | |
| Janus Henderson Equity Linked Moderate Income ETF | 3.69% | — | Apr 2026 | IWMI vs JELM | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.79% | 289.20M | Apr 2026 | IWMI vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.28M | Feb 2025 | IWMI vs HYTI |
Lowest Drawdown Alternatives to IWMI
IWMI has a 1-year max drawdown of -8.40%. There are 66 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.84%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -0.84% | 489.70M | Oct 2022 | IWMI vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | -1.82% | 112.06M | Aug 2022 | IWMI vs HYGW | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.28M | Feb 2025 | IWMI vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.30B | Dec 2015 | IWMI vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | IWMI vs THTA |
Other ETFs from Neos
The 10 most viewed Neos ETFs shown here include QQQI, SPYI, BTCI and span 14 categories. AUM among these funds goes as high as $13B.
Often Compared With IWMI
Investors most often compare IWMI with IWM, IWMY, RDTE. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare IWMI with Any Fund or Stock
Compare IWMI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair IWMI with funds that move differently
NEOS Russell 2000 High Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to IWMI.
Explore IWMI Diversifiers