FTQI vs. SPYI
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.
Performance
FTQI vs. SPYI - Performance Comparison
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FTQI vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | -0.38% | 12.68% | 18.30% | 23.63% | -6.84% |
SPYI NEOS S&P 500 High Income ETF | -2.59% | 16.67% | 19.03% | 18.09% | -2.44% |
Returns By Period
In the year-to-date period, FTQI achieves a -0.38% return, which is significantly higher than SPYI's -2.59% return.
FTQI
- 1D
- 1.00%
- 1M
- -0.70%
- YTD
- -0.38%
- 6M
- 3.73%
- 1Y
- 19.71%
- 3Y*
- 14.13%
- 5Y*
- 9.58%
- 10Y*
- 6.96%
SPYI
- 1D
- 0.56%
- 1M
- -3.70%
- YTD
- -2.59%
- 6M
- 0.63%
- 1Y
- 16.76%
- 3Y*
- 14.46%
- 5Y*
- —
- 10Y*
- —
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FTQI vs. SPYI - Expense Ratio Comparison
FTQI has a 0.75% expense ratio, which is higher than SPYI's 0.68% expense ratio.
Return for Risk
FTQI vs. SPYI — Risk / Return Rank
FTQI
SPYI
FTQI vs. SPYI - Risk-Adjusted Trends 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.
| FTQI | SPYI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 1.04 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.75 | 1.57 | +0.18 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.54 | +0.18 |
Martin ratioReturn relative to average drawdown | 10.01 | 8.06 | +1.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTQI | SPYI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.04 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 1.01 | -0.55 |
Correlation
The correlation between FTQI and SPYI is 0.88, 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.
Dividends
FTQI vs. SPYI - Dividend Comparison
FTQI's dividend yield for the trailing twelve months is around 11.85%, less than SPYI's 12.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTQI First Trust Nasdaq BuyWrite Income ETF | 11.85% | 11.46% | 11.66% | 11.49% | 9.85% | 3.05% | 3.27% | 2.95% | 3.27% | 2.74% | 3.02% | 3.54% |
SPYI NEOS S&P 500 High Income ETF | 12.43% | 11.70% | 12.04% | 12.01% | 4.10% | 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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Drawdown Indicators
| FTQI | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.42% | -16.47% | -2.95% |
Max Drawdown (1Y)Largest decline over 1 year | -11.75% | -11.02% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.42% | — | — |
Current DrawdownCurrent decline from peak | -2.41% | -4.50% | +2.09% |
Average DrawdownAverage peak-to-trough decline | -3.80% | -1.86% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.11% | -0.08% |
Volatility
FTQI vs. SPYI - Volatility Comparison
First Trust Nasdaq BuyWrite Income ETF (FTQI) has a higher volatility of 5.36% compared to NEOS S&P 500 High Income ETF (SPYI) at 5.10%. This indicates that FTQI'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.
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Volatility by Period
| FTQI | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 5.10% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 8.93% | 8.29% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.15% | 16.22% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.83% | 13.12% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.41% | 13.12% | +0.29% |