NEHI vs. SPYI
NEHI (NEOS Ethereum High Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - NEHI is a Cryptocurrency fund actively managed by Neos, while SPYI is a Derivative Income fund actively managed by Neos. Both are actively managed. Their 0.49 correlation means their historical movements had little consistent relationship. NEHI charges 0.98%/yr vs 0.68%/yr for SPYI.
Performance
NEHI vs. SPYI - Performance Comparison
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Returns By Period
In the year-to-date period, NEHI achieves a -34.62% return, which is significantly lower than SPYI's 9.18% return.
NEHI
- 1D
- 0.34%
- 1M
- 9.03%
- 6M
- -18.71%
- YTD
- -34.62%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPYI
- 1D
- 1.14%
- 1M
- 1.76%
- 6M
- 7.18%
- YTD
- 9.18%
- 1Y
- 20.03%
- 3Y*
- 15.87%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.32M | $1.23M | $2.12M | |
| $155.96M | $140.10M | $149.40M |
NEHI vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEHI NEOS Ethereum High Income ETF | -34.62% | -1.24% |
SPYI NEOS S&P 500 High Income ETF | 9.18% | 0.91% |
Correlation
The correlation between NEHI and SPYI is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025 | 0.49 |
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Return for Risk
NEHI vs. SPYI — Risk / Return Rank
NEHI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPYI
NEHI vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS Ethereum High Income ETF (NEHI) 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.
| NEHI | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.36 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.61 | — |
| Martin ratioReturn relative to average drawdown | — | 12.52 | — |
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Drawdowns
NEHI vs. SPYI - Drawdown Comparison
The maximum NEHI drawdown since its inception was -50.12%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for NEHI and SPYI.
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Drawdown Indicators
| NEHI | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.12% | -16.47% | -33.65% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.72% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.47% | — |
Current DrawdownCurrent decline from peak | -41.52% | 0.00% | -41.52% |
Average DrawdownAverage peak-to-trough decline | -29.67% | -1.79% | -27.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.60% | — |
Volatility
NEHI vs. SPYI - Volatility Comparison
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Volatility by Period
| NEHI | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.40% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.75% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 56.49% | 10.78% | +45.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.49% | 12.97% | +43.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.49% | 12.97% | +43.52% |
NEHI vs. SPYI - Expense Ratio Comparison
NEHI has a 0.98% expense ratio, which is higher than SPYI's 0.68% expense ratio.
Dividends
NEHI vs. SPYI - Dividend Comparison
NEHI's dividend yield for the trailing twelve months is around 30.56%, more than SPYI's 11.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
NEHI NEOS Ethereum High Income ETF | 30.56% | 2.87% | 0.00% | 0.00% | 0.00% |
SPYI NEOS S&P 500 High Income ETF | 11.80% | 11.70% | 12.04% | 12.01% | 4.10% |
Frequently Asked Questions
NEHI and SPYI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SPYI is cheaper with a 0.68% expense ratio, compared with 0.98% for NEHI.
NEHI has the higher dividend yield at 30.56%, compared with 11.80% for SPYI.
NEHI is categorized as Cryptocurrency, while SPYI is Derivative Income. Their fees differ too: 0.98% for NEHI and 0.68% for SPYI.
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