NIHI vs. SPYI

Last updated Jun 3, 2026

NIHI (NEOS MSCI EAFE High Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both Derivative Income funds from Neos. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.68% expense ratio.

Performance

NIHI vs. SPYI - Performance Comparison

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

Returns By Period

In the year-to-date period, NIHI achieves a 6.39% return, which is significantly lower than SPYI's 8.26% return.

NIHI

• 1D: 0.41%
• 1M: 2.67%
• YTD: 6.39%
• 6M: 9.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYI

• 1D: 0.14%
• 1M: 4.01%
• YTD: 8.26%
• 6M: 9.24%
• 1Y: 23.93%
• 3Y*: 16.61%
• 5Y*: —
• 10Y*: —

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

NIHI vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025
NIHI NEOS MSCI EAFE High Income ETF	6.39%	5.33%
SPYI NEOS S&P 500 High Income ETF	8.26%	4.51%

Correlation

The correlation between NIHI and SPYI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.78

NIHI vs. SPYI - Sectors Allocation Comparison

Sectors	NIHI	SPYI
Financial Services	22.9%	11.8%
Industrials	20.5%	8.4%
Technology	10.2%	35.5%
Healthcare	9.8%	8.5%
Consumer Cyclical	8.2%	10.1%
Basic Materials	6.6%	1.8%
Consumer Defensive	6.4%	4.9%
Communication Services	4.5%	11.2%
Energy	4.0%	3.5%
Utilities	3.8%	2.3%
Real Estate	3.1%	2.0%

Return for Risk

NIHI vs. SPYI — Risk / Return Rank

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

SPYI

SPYI Risk / Return Rank: 75
SPYI Sharpe Ratio Rank: 76
SPYI Sortino Ratio Rank: 75
SPYI Omega Ratio Rank: 81
SPYI Calmar Ratio Rank: 63
SPYI Martin Ratio Rank: 82

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. SPYI - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	NIHI	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.23	-0.06

Drawdowns

NIHI vs. SPYI - Drawdown Comparison

The maximum NIHI drawdown since its inception was -10.88%, smaller than the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for NIHI and SPYI.

Drawdown Indicators

	NIHI	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-10.88%	-16.47%	+5.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.47%	—
Current Drawdown Current decline from peak	-0.63%	0.00%	-0.63%
Average Drawdown Average peak-to-trough decline	-2.39%	-1.80%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.48%	—

Volatility

Volatility by Period

	NIHI	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.14%	9.61%	+5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	12.92%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	12.92%	+2.22%

NIHI vs. SPYI - Expense Ratio Comparison

Both NIHI and SPYI have an expense ratio of 0.68%.

Dividends

NIHI vs. SPYI - Dividend Comparison

NIHI's dividend yield for the trailing twelve months is around 7.79%, less than SPYI's 11.58% yield.

Position	TTM	2025	2024	2023	2022
NIHI NEOS MSCI EAFE High Income ETF	7.79%	3.44%	0.00%	0.00%	0.00%
SPYI NEOS S&P 500 High Income ETF	11.58%	11.70%	12.04%	12.01%	4.10%

Frequently Asked Questions

Can I hold both NIHI and SPYI in my portfolio?

NIHI and SPYI have a correlation of 0.78, 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 SPYI?

Both ETFs have the same 0.68% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIHI or SPYI?

NIHI and SPYI have the same expense ratio: 0.68% per year.

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

SPYI has the higher dividend yield at 11.58%, compared with 7.79% for NIHI.