NIHI vs. EFAA

Last updated Jun 5, 2026

NIHI (NEOS MSCI EAFE High Income ETF) and EFAA (Invesco MSCI EAFE Income Advantage ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. NIHI charges 0.68%/yr vs 0.39%/yr for EFAA.

Performance

NIHI vs. EFAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS MSCI EAFE High Income ETF (NIHI) and Invesco MSCI EAFE Income Advantage ETF (EFAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NIHI having a 6.43% return and EFAA slightly higher at 6.56%.

NIHI

• 1D: 0.56%
• 1M: 2.77%
• YTD: 6.43%
• 6M: 8.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFAA

• 1D: 0.82%
• 1M: 2.66%
• YTD: 6.56%
• 6M: 8.40%
• 1Y: 18.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIHI vs. EFAA - Yearly Performance Comparison

	2026 (YTD)	2025
NIHI NEOS MSCI EAFE High Income ETF	6.43%	5.33%
EFAA Invesco MSCI EAFE Income Advantage ETF	6.56%	5.22%

Correlation

The correlation between NIHI and EFAA is 0.89, 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 Sep 18, 2025	0.89

NIHI vs. EFAA - Sectors Allocation Comparison

Sectors	NIHI	EFAA
Financial Services	22.9%	24.5%
Industrials	20.5%	20.0%
Technology	10.2%	10.4%
Healthcare	9.8%	10.5%
Consumer Cyclical	8.2%	7.6%
Basic Materials	6.6%	5.9%
Consumer Defensive	6.4%	6.8%
Communication Services	4.5%	4.5%
Energy	4.0%	4.0%
Utilities	3.8%	3.9%
Real Estate	3.1%	1.9%

Return for Risk

NIHI vs. EFAA — Risk / Return Rank

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

EFAA

EFAA Risk / Return Rank: 44
EFAA Sharpe Ratio Rank: 46
EFAA Sortino Ratio Rank: 45
EFAA Omega Ratio Rank: 46
EFAA Calmar Ratio Rank: 37
EFAA Martin Ratio Rank: 45

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.

NIHI vs. EFAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS MSCI EAFE High Income ETF (NIHI) and Invesco MSCI EAFE Income Advantage ETF (EFAA). 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.

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

Sharpe Ratios by Period

	NIHI	EFAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.15	+0.01

Drawdowns

NIHI vs. EFAA - Drawdown Comparison

The maximum NIHI drawdown since its inception was -10.88%, smaller than the maximum EFAA drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for NIHI and EFAA.

Drawdown Indicators

	NIHI	EFAA	Difference
Max Drawdown Largest peak-to-trough decline	-10.88%	-11.97%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.14%	—
Current Drawdown Current decline from peak	-0.59%	-0.41%	-0.18%
Average Drawdown Average peak-to-trough decline	-2.37%	-2.03%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.61%	—

Volatility

Volatility by Period

	NIHI	EFAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.75%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	11.95%	+3.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	12.96%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	12.96%	+2.12%

NIHI vs. EFAA - Expense Ratio Comparison

NIHI has a 0.68% expense ratio, which is higher than EFAA's 0.39% expense ratio.

Dividends

NIHI vs. EFAA - Dividend Comparison

NIHI's dividend yield for the trailing twelve months is around 7.79%, less than EFAA's 8.07% yield.

Position	TTM	2025	2024
EFAA Invesco MSCI EAFE Income Advantage ETF	8.07%	7.94%	3.29%
NIHI NEOS MSCI EAFE High Income ETF	7.79%	3.44%	0.00%

Frequently Asked Questions

Can I hold both NIHI and EFAA in my portfolio?

NIHI and EFAA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIHI or EFAA?

On fees, EFAA is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIHI or EFAA?

EFAA is cheaper with a 0.39% expense ratio, compared with 0.68% for NIHI.

Which ETF pays a higher dividend yield, NIHI or EFAA?

EFAA has the higher dividend yield at 8.07%, compared with 7.79% for NIHI.

What is the main difference between NIHI and EFAA?

They also come from different issuers: Neos and Invesco. Their fees differ too: 0.68% for NIHI and 0.39% for EFAA.