FIYY vs. SPYI

Last updated Aug 6, 2026

FIYY (GraniteShares YieldBOOST 20Y+ Treasuries ETF) and SPYI (NEOS S&P 500 High Income ETF) are both Derivative Income funds. Both are actively managed. Their 0.39 correlation means their historical movements had little consistent relationship. FIYY charges 1.07%/yr vs 0.68%/yr for SPYI.

Performance

FIYY vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIYY

• 1D: 0.04%
• 1M: 0.79%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPYI

• 1D: -0.07%
• 1M: 2.04%
• 6M: 9.44%
• YTD: 10.29%
• 1Y: 20.17%
• 3Y*: 16.26%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.08%

*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)
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	$2.87K	$1.63K	$1.40K
SPYI NEOS S&P 500 High Income ETF	$164.26M	$144.49M	$150.73M

FIYY vs. SPYI - Yearly Performance Comparison

	2026 (YTD)
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	-1.15%
SPYI NEOS S&P 500 High Income ETF	6.19%

Correlation

The correlation between FIYY and SPYI is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 5, 2026	0.39

Return for Risk

FIYY vs. SPYI — Risk / Return Rank

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

FIYY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPYI

SPYI Risk / Return Rank: 73
SPYI Sharpe Ratio Rank: 73
SPYI Sortino Ratio Rank: 70
SPYI Omega Ratio Rank: 77
SPYI Calmar Ratio Rank: 65
SPYI Martin Ratio Rank: 83

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.

FIYY vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY) 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.

	FIYY	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.89	—
Sortino ratio: Return per unit of downside risk	—	2.60	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	2.63	—
Martin ratio: Return relative to average drawdown	—	12.61	—

Drawdowns

FIYY vs. SPYI - Drawdown Comparison

The maximum FIYY drawdown since its inception was -2.94%, smaller than the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for FIYY and SPYI.

Drawdown Indicators

	FIYY	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-2.94%	-16.47%	+13.53%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.47%	—
Current Drawdown Current decline from peak	-1.27%	-0.07%	-1.20%
Average Drawdown Average peak-to-trough decline	-1.58%	-1.78%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.60%	—

Volatility

Volatility by Period

	FIYY	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.65%	10.74%	-5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.65%	12.96%	-7.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.65%	12.96%	-7.31%

FIYY vs. SPYI - Expense Ratio Comparison

FIYY has a 1.07% expense ratio, which is higher than SPYI's 0.68% expense ratio.

Dividends

FIYY vs. SPYI - Dividend Comparison

FIYY's dividend yield for the trailing twelve months is around 1.24%, less than SPYI's 11.68% yield.

Position	TTM	2025	2024	2023	2022
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	1.24%	0.00%	0.00%	0.00%	0.00%
SPYI NEOS S&P 500 High Income ETF	11.68%	11.70%	12.04%	12.01%	4.10%

Frequently Asked Questions

Can I hold both FIYY and SPYI in my portfolio?

FIYY and SPYI have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FIYY or SPYI?

On fees, SPYI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FIYY or SPYI?

SPYI is cheaper with a 0.68% expense ratio, compared with 1.07% for FIYY.

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

SPYI has the higher dividend yield at 11.68%, compared with 1.24% for FIYY.

What is the main difference between FIYY and SPYI?

They also come from different issuers: GraniteShares and Neos. Their fees differ too: 1.07% for FIYY and 0.68% for SPYI.