DVDN vs. SPYI

Last updated Aug 2, 2026

DVDN (Kingsbarn Dividend Opportunity ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - DVDN is a Large Cap Value Equities fund actively managed by Kingsbarn, while SPYI is a Derivative Income fund actively managed by Neos. Both are actively managed. Over the past year, DVDN returned -19.60% vs 18.69% for SPYI. Their 0.48 correlation means their historical movements had little consistent relationship. DVDN charges 1.72%/yr vs 0.68%/yr for SPYI.

Performance

DVDN vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kingsbarn Dividend Opportunity ETF (DVDN) 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, DVDN achieves a -13.21% return, which is significantly lower than SPYI's 7.96% return.

DVDN

• 1D: -0.71%
• 1M: -4.05%
• 6M: -11.26%
• YTD: -13.21%
• 1Y: -19.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.51%

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)
DVDN Kingsbarn Dividend Opportunity ETF	$20.62K	$39.35K	$30.11K
SPYI NEOS S&P 500 High Income ETF	$155.71M	$137.58M	$149.04M

DVDN vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DVDN Kingsbarn Dividend Opportunity ETF	-13.21%	-17.23%	2.17%	16.65%
SPYI NEOS S&P 500 High Income ETF	7.96%	16.67%	19.03%	6.31%

Correlation

The correlation between DVDN and SPYI is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.48

DVDN vs. SPYI - Sectors Allocation Comparison

Sectors	DVDN	SPYI
Real Estate	59.7%	1.8%
Financial Services	40.4%	11.7%
Basic Materials	-	1.7%
Communication Services	-	10.0%
Consumer Cyclical	-	9.6%
Consumer Defensive	-	4.6%
Energy	-	3.0%
Healthcare	-	8.9%
Industrials	-	8.4%
Technology	-	38.3%
Utilities	-	2.2%

Return for Risk

DVDN vs. SPYI — Risk / Return Rank

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

DVDN

DVDN Risk / Return Rank: 2
DVDN Sharpe Ratio Rank: 1
DVDN Sortino Ratio Rank: 2
DVDN Omega Ratio Rank: 2
DVDN Calmar Ratio Rank: 3
DVDN Martin Ratio Rank: 3

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.

DVDN vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kingsbarn Dividend Opportunity ETF (DVDN) 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.

	DVDN	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	-1.11	1.59	-2.70
Sortino ratio: Return per unit of downside risk	-1.49	2.21	-3.70
Omega ratio: Gain probability vs. loss probability	0.83	1.30	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.78	2.23	-3.01
Martin ratio: Return relative to average drawdown	-1.23	10.69	-11.92

DVDN vs. SPYI - Sharpe Ratio Comparison

The current DVDN Sharpe Ratio is -1.11, which is lower than the SPYI Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of DVDN 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

DVDN vs. SPYI - Drawdown Comparison

The maximum DVDN drawdown since its inception was -34.59%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for DVDN and SPYI.

Drawdown Indicators

	DVDN	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-16.47%	-18.12%
Max Drawdown (1Y) Largest decline over 1 year	-25.34%	-7.72%	-17.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.47%	—
Current Drawdown Current decline from peak	-34.38%	-0.65%	-33.73%
Average Drawdown Average peak-to-trough decline	-13.77%	-1.79%	-11.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.05%	1.61%	+14.44%

Volatility

DVDN vs. SPYI - Volatility Comparison

Kingsbarn Dividend Opportunity ETF (DVDN) has a higher volatility of 4.10% compared to NEOS S&P 500 High Income ETF (SPYI) at 3.22%. This indicates that DVDN's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVDN	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	3.22%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	14.30%	8.68%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.93%	10.80%	+7.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	12.96%	+5.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.64%	12.96%	+5.68%

DVDN vs. SPYI - Expense Ratio Comparison

DVDN has a 1.72% expense ratio, which is higher than SPYI's 0.68% expense ratio.

Dividends

DVDN vs. SPYI - Dividend Comparison

DVDN's dividend yield for the trailing twelve months is around 15.51%, more than SPYI's 11.93% yield.

Position	TTM	2025	2024	2023	2022
DVDN Kingsbarn Dividend Opportunity ETF	15.51%	17.27%	14.43%	2.74%	0.00%
SPYI NEOS S&P 500 High Income ETF	11.93%	11.70%	12.04%	12.01%	4.10%

Frequently Asked Questions

Can I hold both DVDN and SPYI in my portfolio?

DVDN and SPYI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVDN or SPYI?

DVDN has higher volatility (4.10%) compared to SPYI (3.22%). In terms of maximum drawdown, DVDN dropped -34.59% vs SPYI's -16.47%.

Which ETF is better, DVDN or SPYI?

On 1-year performance, SPYI leads with 18.69% vs -19.60% for DVDN. On fees, SPYI is cheaper at 0.68% per year. On volatility, SPYI has been the lower-risk option at 3.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVDN or SPYI?

Over the 1-year period, SPYI has performed better with a 18.69% return vs -19.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVDN or SPYI?

SPYI is cheaper with a 0.68% expense ratio, compared with 1.72% for DVDN.

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

DVDN has the higher dividend yield at 15.51%, compared with 11.93% for SPYI.

What is the main difference between DVDN and SPYI?

DVDN is categorized as Large Cap Value Equities, while SPYI is Derivative Income. They also come from different issuers: Kingsbarn and Neos. Their fees differ too: 1.72% for DVDN and 0.68% for SPYI.

Which has better risk-adjusted returns?

SPYI currently has the higher Sharpe Ratio (1.59 vs -1.11), 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.