NEOS S&P 500 High Income ETF (SPYI) 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 SPYI. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SPYI
SPYI charges 0.68% annually. There are 78 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 | SPYI vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 46.39M | Sep 2024 | SPYI vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 329.53M | Mar 2024 | SPYI vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | SPYI vs FYEE | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.29% | 5.01B | Oct 2023 | SPYI vs GPIX |
Best Risk-Adjusted Alternatives to SPYI
SPYI has a PortfoliosLab risk / return rank of 80. There are 40 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 | SPYI vs THTA | |
| Global X S&P 500 Covered Call ETF | 94 | 3.24B | Jun 2013 | SPYI vs XYLD | |
| Invesco S&P 500 BuyWrite ETF | 94 | 358.08M | Dec 2007 | SPYI vs PBP | |
| Simplify Treasury Option Income ETF | 93 | 489.70M | Oct 2022 | SPYI vs BUCK | |
| Global X Russell 2000 Covered Call ETF | 93 | 1.37B | Apr 2019 | SPYI vs RYLD |
Top Performing SPYI Alternatives (YTD)
SPYI is at 9.18% YTD. There are 105 ETFs in the Derivative Income category with higher YTD returns, going as high as 150.89%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill AMD WeeklyPay ETF | 150.89% | 114.09M | Jul 2025 | SPYI vs AMDW | |
| Roundhill ARM WeeklyPay ETF | 133.71% | 22.04M | Oct 2025 | SPYI vs ARMW | |
| YieldMax AMD Option Income Strategy ETF | 90.29% | 382.78M | Sep 2023 | SPYI vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 62.69% | 106.87M | Oct 2023 | SPYI vs MRNY | |
| YieldMax Target 12™ Semiconductor Option Income ET... | 59.66% | 64.01M | Dec 2024 | SPYI vs SOXY |
Lowest Volatility Alternatives to SPYI
SPYI has 10.78% 1-year volatility. There are 55 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 | SPYI vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | 2.94% | 112.06M | Aug 2022 | SPYI vs HYGW | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.76% | 289.20M | Apr 2026 | SPYI vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.81% | 90.28M | Feb 2025 | SPYI vs HYTI | |
| Main Buywrite ETF | 4.87% | 1.30B | Dec 2015 | SPYI vs BUYW |
Lowest Drawdown Alternatives to SPYI
SPYI has a 1-year max drawdown of -7.72%. There are 53 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 | SPYI vs BUCK | |
| iShares High Yield Corporate Bond Buywrite Strateg... | -1.82% | 112.06M | Aug 2022 | SPYI vs HYGW | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.28M | Feb 2025 | SPYI vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.30B | Dec 2015 | SPYI vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | SPYI vs THTA |
Other ETFs from Neos
The 10 most viewed Neos ETFs shown here include QQQI, BTCI, IAUI and span 13 categories. AUM among these funds goes as high as $13B.
Often Compared With SPYI
Investors most often compare SPYI with SPY, JEPI, JEPQ. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare SPYI with Any Fund or Stock
Compare SPYI with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SPYI with funds that move differently
NEOS S&P 500 High Income ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SPYI.
Explore SPYI Diversifiers