NIHI vs. SPYI

Last updated Aug 2, 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. Their 0.79 correlation means they have sometimes moved together and sometimes differently. 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 8.84% return, which is significantly higher than SPYI's 7.96% return.

NIHI

• 1D: -0.33%
• 1M: 1.22%
• 6M: 5.27%
• YTD: 8.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SPYI

• 1D: 0.65%
• 1M: 0.62%
• 6M: 6.50%
• YTD: 7.96%
• 1Y: 18.69%
• 3Y*: 14.78%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NIHI NEOS MSCI EAFE High Income ETF	$2.03M	$2.13M	$2.32M
SPYI NEOS S&P 500 High Income ETF	$155.71M	$137.58M	$149.04M

NIHI vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025
NIHI NEOS MSCI EAFE High Income ETF	8.84%	4.89%
SPYI NEOS S&P 500 High Income ETF	7.96%	4.51%

Correlation

The correlation between NIHI and SPYI is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.79

NIHI vs. SPYI - Sectors Allocation Comparison

Sectors	NIHI	SPYI
Financial Services	23.1%	11.7%
Industrials	19.7%	8.4%
Technology	12.6%	38.3%
Healthcare	9.8%	8.9%
Consumer Cyclical	8.1%	9.6%
Consumer Defensive	6.5%	4.6%
Basic Materials	6.3%	1.7%
Communication Services	4.3%	10.0%
Utilities	3.5%	2.2%
Energy	3.3%	3.0%
Real Estate	2.8%	1.8%

Return for Risk

NIHI vs. SPYI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NIHI

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

SPYI

SPYI Risk / Return Rank: 72
SPYI Sharpe Ratio Rank: 71
SPYI Sortino Ratio Rank: 68
SPYI Omega Ratio Rank: 73
SPYI Calmar Ratio Rank: 64
SPYI Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	NIHI	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.59	—
Sortino ratio: Return per unit of downside risk	—	2.21	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.23	—
Martin ratio: Return relative to average drawdown	—	10.69	—

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	-0.33%	-0.65%	+0.32%
Average Drawdown Average peak-to-trough decline	-2.13%	-1.79%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.61%	—

Volatility

Volatility by Period

	NIHI	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.88%	10.80%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	12.96%	+1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	12.96%	+1.92%

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 9.35%, less than SPYI's 11.93% yield.

Position	TTM	2025	2024	2023	2022
NIHI NEOS MSCI EAFE High Income ETF	9.35%	3.44%	0.00%	0.00%	0.00%
SPYI NEOS S&P 500 High Income ETF	11.93%	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 0.79, 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 11.93%, compared with 9.35% for NIHI.