AGGY vs. SPYI

Last updated Jun 3, 2026

AGGY (WisdomTree Yield Enhanced U.S. Aggregate Bond Fund) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - AGGY is a Intermediate Core Bond fund tracking the Bloomberg US Aggregate Yield Enhanced, while SPYI is a Derivative Income fund actively managed by Neos. AGGY is passively managed, while SPYI is actively managed. Over the past 3 years, AGGY returned 4.72%/yr vs 16.61%/yr for SPYI. At a 0.24 correlation, their price movements are largely independent. AGGY charges 0.12%/yr vs 0.68%/yr for SPYI.

Performance

AGGY vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGGY achieves a 0.61% return, which is significantly lower than SPYI's 8.26% return.

AGGY

• 1D: 0.00%
• 1M: 0.37%
• YTD: 0.61%
• 6M: 0.63%
• 1Y: 6.07%
• 3Y*: 4.72%
• 5Y*: 0.25%
• 10Y*: 1.74%

SPYI

• 1D: 0.14%
• 1M: 4.01%
• YTD: 8.26%
• 6M: 9.24%
• 1Y: 23.93%
• 3Y*: 16.61%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGGY vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AGGY WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	0.61%	7.38%	1.82%	7.29%	-3.31%
SPYI NEOS S&P 500 High Income ETF	8.26%	16.67%	19.03%	18.09%	-2.44%

Correlation

The correlation between AGGY and SPYI is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.24

Return for Risk

AGGY vs. SPYI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGGY

AGGY Risk / Return Rank: 40
AGGY Sharpe Ratio Rank: 41
AGGY Sortino Ratio Rank: 42
AGGY Omega Ratio Rank: 38
AGGY Calmar Ratio Rank: 41
AGGY Martin Ratio Rank: 38

SPYI

SPYI Risk / Return Rank: 75
SPYI Sharpe Ratio Rank: 76
SPYI Sortino Ratio Rank: 75
SPYI Omega Ratio Rank: 81
SPYI Calmar Ratio Rank: 63
SPYI Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGGY vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) and NEOS S&P 500 High Income ETF (SPYI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AGGY	SPYI	Difference
Sharpe ratio Return per unit of total volatility	1.45	2.50	-1.06
Sortino ratio Return per unit of downside risk	2.16	3.42	-1.26
Omega ratio Gain probability vs. loss probability	1.25	1.49	-0.24
Calmar ratio Return relative to maximum drawdown	2.07	3.17	-1.10
Martin ratio Return relative to average drawdown	6.12	16.55	-10.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGGY vs. SPYI - Sharpe Ratio Comparison

The current AGGY Sharpe Ratio is 1.45, which is lower than the SPYI Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of AGGY and SPYI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AGGY	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.50	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	1.23	-0.84

Drawdowns

AGGY vs. SPYI - Drawdown Comparison

The maximum AGGY drawdown since its inception was -20.98%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for AGGY and SPYI.

Drawdown Indicators

	AGGY	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-20.98%	-16.47%	-4.51%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-7.72%	+4.91%
Max Drawdown (3Y) Largest decline over 3 years	-5.40%	-16.47%	+11.07%
Max Drawdown (5Y) Largest decline over 5 years	-20.60%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-20.98%	—	—
Current Drawdown Current decline from peak	-2.15%	0.00%	-2.15%
Average Drawdown Average peak-to-trough decline	-5.03%	-1.80%	-3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.48%	-0.53%

Volatility

AGGY vs. SPYI - Volatility Comparison

The current volatility for WisdomTree Yield Enhanced U.S. Aggregate Bond Fund (AGGY) is 1.44%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 1.73%. This indicates that AGGY experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGGY	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.73%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	7.40%	-4.32%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	9.61%	-5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.07%	12.92%	-6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.49%	12.92%	-7.43%

AGGY vs. SPYI - Expense Ratio Comparison

AGGY has a 0.12% expense ratio, which is lower than SPYI's 0.68% expense ratio.

Dividends

AGGY vs. SPYI - Dividend Comparison

AGGY's dividend yield for the trailing twelve months is around 4.48%, less than SPYI's 11.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGGY WisdomTree Yield Enhanced U.S. Aggregate Bond Fund	4.48%	4.48%	4.38%	3.78%	2.77%	2.10%	2.96%	3.02%	3.36%	2.78%	3.19%	1.27%
SPYI NEOS S&P 500 High Income ETF	11.58%	11.70%	12.04%	12.01%	4.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGGY and SPYI in my portfolio?

AGGY and SPYI have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGGY or SPYI?

SPYI has higher volatility (1.73%) compared to AGGY (1.44%). In terms of maximum drawdown, AGGY dropped -20.98% vs SPYI's -16.47%.

Which ETF is better, AGGY or SPYI?

On 3-year performance, SPYI leads with 16.61% vs 4.72% for AGGY. On fees, AGGY is cheaper at 0.12% per year. On volatility, AGGY has been the lower-risk option at 1.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGGY or SPYI?

Over the 3-year period, SPYI has performed better with a 16.61% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGGY or SPYI?

AGGY is cheaper with a 0.12% expense ratio, compared with 0.68% for SPYI.

Which ETF pays a higher dividend yield, AGGY or SPYI?

SPYI has the higher dividend yield at 11.58%, compared with 4.48% for AGGY.

What is the main difference between AGGY and SPYI?

AGGY is categorized as Intermediate Core Bond, while SPYI is Derivative Income. They also come from different issuers: WisdomTree and Neos. Their fees differ too: 0.12% for AGGY and 0.68% for SPYI.

Which has better risk-adjusted returns?

SPYI currently has the higher Sharpe Ratio (2.50 vs 1.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.