DIVS vs. SPYI

Last updated Aug 2, 2026

DIVS (SmartETFs Dividend Builder ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - DIVS is a Global Equities fund actively managed by Guinness Atkinson, while SPYI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past 3 years, DIVS returned 13.13%/yr vs 14.78%/yr for SPYI. Their 0.75 correlation means they have sometimes moved together and sometimes differently. DIVS charges 0.65%/yr vs 0.68%/yr for SPYI.

Performance

DIVS vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Dividend Builder ETF (DIVS) 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, DIVS achieves a 12.05% return, which is significantly higher than SPYI's 7.96% return.

DIVS

• 1D: -0.08%
• 1M: 2.99%
• 6M: 8.15%
• YTD: 12.05%
• 1Y: 16.97%
• 3Y*: 13.13%
• 5Y*: 9.70%
• 10Y*: —
• ALL TIME*: 10.99%

SPYI

• 1D: 0.65%
• 1M: 0.62%
• 6M: 6.50%
• YTD: 7.96%
• 1Y: 18.69%
• 3Y*: 14.78%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVS SmartETFs Dividend Builder ETF	$40.08K	$44.03K	$61.52K
SPYI NEOS S&P 500 High Income ETF	$155.71M	$137.58M	$149.04M

DIVS vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DIVS SmartETFs Dividend Builder ETF	12.05%	11.66%	12.60%	15.98%	3.31%
SPYI NEOS S&P 500 High Income ETF	7.96%	16.67%	19.03%	18.09%	-3.96%

Correlation

The correlation between DIVS and SPYI is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.75

The correlation between DIVS and SPYI has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.

DIVS vs. SPYI - Sectors Allocation Comparison

Sectors	DIVS	SPYI
Industrials	25.2%	8.4%
Technology	21.4%	38.3%
Consumer Defensive	21.0%	4.6%
Healthcare	13.6%	8.9%
Financial Services	13.1%	11.7%
Communication Services	3.3%	10.0%
Consumer Cyclical	2.4%	9.6%
Basic Materials	-	1.7%
Energy	-	3.0%
Real Estate	-	1.8%
Utilities	-	2.2%

Return for Risk

DIVS vs. SPYI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVS

DIVS Risk / Return Rank: 61
DIVS Sharpe Ratio Rank: 70
DIVS Sortino Ratio Rank: 73
DIVS Omega Ratio Rank: 67
DIVS Calmar Ratio Rank: 44
DIVS Martin Ratio Rank: 50

SPYI

SPYI Risk / Return Rank: 72
SPYI Sharpe Ratio Rank: 71
SPYI Sortino Ratio Rank: 68
SPYI Omega Ratio Rank: 73
SPYI Calmar Ratio Rank: 64
SPYI Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVS vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Dividend Builder ETF (DIVS) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DIVS	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.59	0.00
Sortino ratio: Return per unit of downside risk	2.33	2.21	+0.12
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	1.57	2.23	-0.65
Martin ratio: Return relative to average drawdown	5.75	10.69	-4.94

DIVS vs. SPYI - Sharpe Ratio Comparison

The current DIVS Sharpe Ratio is 1.59, which is comparable to the SPYI Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of DIVS 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.

Drawdowns

DIVS vs. SPYI - Drawdown Comparison

The maximum DIVS drawdown since its inception was -29.55%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for DIVS and SPYI.

Drawdown Indicators

	DIVS	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-29.55%	-16.47%	-13.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-7.72%	-2.90%
Max Drawdown (3Y) Largest decline over 3 years	-12.61%	-16.47%	+3.86%
Max Drawdown (5Y) Largest decline over 5 years	-20.71%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.65%	+0.57%
Average Drawdown Average peak-to-trough decline	-3.64%	-1.79%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	1.61%	+1.29%

Volatility

DIVS vs. SPYI - Volatility Comparison

SmartETFs Dividend Builder ETF (DIVS) and NEOS S&P 500 High Income ETF (SPYI) have volatilities of 3.12% and 3.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVS	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	3.22%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	8.68%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	10.80%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	12.96%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	12.96%	+12.92%

DIVS vs. SPYI - Expense Ratio Comparison

DIVS has a 0.65% expense ratio, which is lower than SPYI's 0.68% expense ratio.

Dividends

DIVS vs. SPYI - Dividend Comparison

DIVS's dividend yield for the trailing twelve months is around 2.78%, less than SPYI's 11.93% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVS SmartETFs Dividend Builder ETF	2.78%	2.61%	2.66%	3.14%	5.93%	3.76%
SPYI NEOS S&P 500 High Income ETF	11.93%	11.70%	12.04%	12.01%	4.10%	0.00%

Frequently Asked Questions

Can I hold both DIVS and SPYI in my portfolio?

DIVS and SPYI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVS or SPYI?

SPYI has higher volatility (3.22%) compared to DIVS (3.12%). In terms of maximum drawdown, DIVS dropped -29.55% vs SPYI's -16.47%.

Which ETF is better, DIVS or SPYI?

On 3-year performance, SPYI leads with 14.78% vs 13.13% for DIVS. On fees, DIVS is cheaper at 0.65% per year. On volatility, DIVS has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVS or SPYI?

Over the 3-year period, SPYI has performed better with a 14.78% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVS or SPYI?

DIVS is cheaper with a 0.65% expense ratio, compared with 0.68% for SPYI.

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

SPYI has the higher dividend yield at 11.93%, compared with 2.78% for DIVS.

What is the main difference between DIVS and SPYI?

DIVS is categorized as Global Equities, while SPYI is Derivative Income. They also come from different issuers: Guinness Atkinson and Neos. Their fees differ too: 0.65% for DIVS and 0.68% for SPYI.

Which has better risk-adjusted returns?

DIVS currently has the higher Sharpe Ratio (1.59 vs 1.59), 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.