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FTQI vs. SPYI
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FTQI and SPYI is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

FTQI vs. SPYI

Last updated May 30, 2025

Compare and contrast key facts about First Trust Nasdaq BuyWrite Income ETF (FTQI) and NEOS S&P 500 High Income ETF (SPYI).

FTQI and SPYI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTQI is a passively managed fund by First Trust that tracks the performance of the NASDAQ-100 Index. It was launched on Jan 6, 2014. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FTQI or SPYI.

Performance

FTQI vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq BuyWrite Income ETF (FTQI) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

FTQI:

0.33

SPYI:

0.70

Sortino Ratio

FTQI:

0.57

SPYI:

1.07

Omega Ratio

FTQI:

1.09

SPYI:

1.17

Calmar Ratio

FTQI:

0.31

SPYI:

0.71

Martin Ratio

FTQI:

1.11

SPYI:

2.97

Ulcer Index

FTQI:

5.36%

SPYI:

3.96%

Daily Std Dev

FTQI:

19.06%

SPYI:

17.20%

Max Drawdown

FTQI:

-19.42%

SPYI:

-16.47%

Current Drawdown

FTQI:

-6.66%

SPYI:

-2.63%

Returns By Period

In the year-to-date period, FTQI achieves a -3.48% return, which is significantly lower than SPYI's 1.48% return.

FTQI

YTD

-3.48%

1M

3.48%

6M

-3.75%

1Y

6.23%

3Y*

8.62%

5Y*

7.92%

10Y*

5.19%

SPYI

YTD

1.48%

1M

4.86%

6M

-0.11%

1Y

12.01%

3Y*

N/A

5Y*

N/A

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

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First Trust Nasdaq BuyWrite Income ETF

NEOS S&P 500 High Income ETF

FTQI vs. SPYI - Expense Ratio Comparison

FTQI has a 0.75% expense ratio, which is higher than SPYI's 0.68% expense ratio.

FTQI
First Trust Nasdaq BuyWrite Income ETF
SPYI
NEOS S&P 500 High Income ETF
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

FTQI vs. SPYI — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FTQI
The Risk-Adjusted Performance Rank of FTQI is 3434
Overall Rank
The Sharpe Ratio Rank of FTQI is 3333
Sharpe Ratio Rank
The Sortino Ratio Rank of FTQI is 3131
Sortino Ratio Rank
The Omega Ratio Rank of FTQI is 3636
Omega Ratio Rank
The Calmar Ratio Rank of FTQI is 3535
Calmar Ratio Rank
The Martin Ratio Rank of FTQI is 3535
Martin Ratio Rank
SPYI
The Risk-Adjusted Performance Rank of SPYI is 6767
Overall Rank
The Sharpe Ratio Rank of SPYI is 6565
Sharpe Ratio Rank
The Sortino Ratio Rank of SPYI is 6262
Sortino Ratio Rank
The Omega Ratio Rank of SPYI is 7272
Omega Ratio Rank
The Calmar Ratio Rank of SPYI is 6767
Calmar Ratio Rank
The Martin Ratio Rank of SPYI is 6969
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FTQI vs. SPYI - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) 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.

The current FTQI Sharpe Ratio is 0.33, which is lower than the SPYI Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of FTQI and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

FTQI vs. SPYI - Dividend Comparison

FTQI's dividend yield for the trailing twelve months is around 12.68%, more than SPYI's 12.54% yield.

TTM20242023202220212020201920182017201620152014
FTQI
First Trust Nasdaq BuyWrite Income ETF		12.68%11.66%11.49%9.85%3.05%3.27%2.95%3.27%2.77%3.04%3.32%3.30%
SPYI
NEOS S&P 500 High Income ETF		12.54%12.04%12.01%4.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

FTQI vs. SPYI - Drawdown Comparison

The maximum FTQI drawdown since its inception was -19.42%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for FTQI and SPYI.

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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

FTQI vs. SPYI - Volatility Comparison

The current volatility for First Trust Nasdaq BuyWrite Income ETF (FTQI) is 2.41%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 3.21%. This indicates that FTQI 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.

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