IWMI vs. XQQI

Last updated Jun 5, 2026

IWMI (NEOS Russell 2000 High Income ETF) and XQQI (NEOS Boosted Nasdaq-100 High Income ETF) are both exchange-traded funds - IWMI is a Derivative Income fund actively managed by Neos, while XQQI is a Nasdaq-100 fund actively managed by NEOS. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. IWMI charges 0.68%/yr vs 0.98%/yr for XQQI.

Performance

IWMI vs. XQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Russell 2000 High Income ETF (IWMI) and NEOS Boosted Nasdaq-100 High Income ETF (XQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IWMI

• 1D: 1.10%
• 1M: 3.08%
• YTD: 14.60%
• 6M: 13.67%
• 1Y: 35.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XQQI

• 1D: -0.37%
• 1M: 7.87%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWMI vs. XQQI - Yearly Performance Comparison

	2026 (YTD)
IWMI NEOS Russell 2000 High Income ETF	9.02%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	17.69%

Correlation

The correlation between IWMI and XQQI is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026	0.81

Return for Risk

IWMI vs. XQQI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IWMI

IWMI Risk / Return Rank: 78
IWMI Sharpe Ratio Rank: 76
IWMI Sortino Ratio Rank: 76
IWMI Omega Ratio Rank: 71
IWMI Calmar Ratio Rank: 82
IWMI Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IWMI vs. XQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Russell 2000 High Income ETF (IWMI) and NEOS Boosted Nasdaq-100 High Income ETF (XQQI). 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.

	IWMI	XQQI	Difference
Sharpe ratio: Return per unit of total volatility	2.43	—	—
Sortino ratio: Return per unit of downside risk	3.37	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	4.29	—	—
Martin ratio: Return relative to average drawdown	17.85	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IWMI	XQQI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	2.86	-1.78

Drawdowns

IWMI vs. XQQI - Drawdown Comparison

The maximum IWMI drawdown since its inception was -23.88%, which is greater than XQQI's maximum drawdown of -12.53%. Use the drawdown chart below to compare losses from any high point for IWMI and XQQI.

Drawdown Indicators

	IWMI	XQQI	Difference
Max Drawdown Largest peak-to-trough decline	-23.88%	-12.53%	-11.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	—	—
Current Drawdown Current decline from peak	0.00%	-0.96%	+0.96%
Average Drawdown Average peak-to-trough decline	-4.11%	-2.04%	-2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	—	—

Volatility

Volatility by Period

	IWMI	XQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	22.21%	-7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	22.21%	-4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	22.21%	-4.32%

IWMI vs. XQQI - Expense Ratio Comparison

IWMI has a 0.68% expense ratio, which is lower than XQQI's 0.98% expense ratio.

Dividends

IWMI vs. XQQI - Dividend Comparison

IWMI's dividend yield for the trailing twelve months is around 13.38%, more than XQQI's 7.91% yield.

Position	TTM	2025	2024
IWMI NEOS Russell 2000 High Income ETF	13.38%	14.05%	8.78%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	7.91%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWMI and XQQI in my portfolio?

IWMI and XQQI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWMI or XQQI?

On fees, IWMI 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, IWMI or XQQI?

IWMI is cheaper with a 0.68% expense ratio, compared with 0.98% for XQQI.

Which ETF pays a higher dividend yield, IWMI or XQQI?

IWMI has the higher dividend yield at 13.38%, compared with 7.91% for XQQI.

What is the main difference between IWMI and XQQI?

IWMI is categorized as Derivative Income, while XQQI is Nasdaq-100. They also come from different issuers: Neos and NEOS. Their fees differ too: 0.68% for IWMI and 0.98% for XQQI.