NLSI vs. NIHI

Last updated Jun 4, 2026

NLSI (Neos Long/Short Equity Income ETF) and NIHI (NEOS MSCI EAFE High Income ETF) are both exchange-traded funds - NLSI is a Long-Short fund actively managed by Neos, while NIHI is a Derivative Income fund actively managed by Neos. Both are actively managed. At a 0.01 correlation, their price movements are largely independent. NLSI charges 2.89%/yr vs 0.68%/yr for NIHI.

Performance

NLSI vs. NIHI - Performance Comparison

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

Returns By Period

In the year-to-date period, NLSI achieves a 7.01% return, which is significantly higher than NIHI's 5.84% return.

NLSI

• 1D: -0.92%
• 1M: 10.92%
• YTD: 7.01%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NIHI

• 1D: -0.52%
• 1M: 3.11%
• YTD: 5.84%
• 6M: 8.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NLSI vs. NIHI - Yearly Performance Comparison

	2026 (YTD)	2025
NLSI Neos Long/Short Equity Income ETF	7.01%	1.90%
NIHI NEOS MSCI EAFE High Income ETF	5.84%	1.52%

Correlation

The correlation between NLSI and NIHI is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.01

Return for Risk

NLSI vs. NIHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Long/Short Equity Income ETF (NLSI) and NEOS MSCI EAFE High Income ETF (NIHI). 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

	NLSI	NIHI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.10	-0.06

Drawdowns

NLSI vs. NIHI - Drawdown Comparison

The maximum NLSI drawdown since its inception was -13.82%, which is greater than NIHI's maximum drawdown of -10.88%. Use the drawdown chart below to compare losses from any high point for NLSI and NIHI.

Drawdown Indicators

	NLSI	NIHI	Difference
Max Drawdown Largest peak-to-trough decline	-13.82%	-10.88%	-2.94%
Current Drawdown Current decline from peak	-1.33%	-1.15%	-0.18%
Average Drawdown Average peak-to-trough decline	-6.10%	-2.38%	-3.72%

Volatility

Volatility by Period

	NLSI	NIHI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	19.37%	15.11%	+4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	15.11%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.37%	15.11%	+4.26%

NLSI vs. NIHI - Expense Ratio Comparison

NLSI has a 2.89% expense ratio, which is higher than NIHI's 0.68% expense ratio.

Dividends

NLSI vs. NIHI - Dividend Comparison

NLSI's dividend yield for the trailing twelve months is around 2.42%, less than NIHI's 7.83% yield.

Position	TTM	2025
NIHI NEOS MSCI EAFE High Income ETF	7.83%	3.44%
NLSI Neos Long/Short Equity Income ETF	2.42%	0.46%

Frequently Asked Questions

Can I hold both NLSI and NIHI in my portfolio?

NLSI and NIHI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NLSI or NIHI?

On fees, NIHI 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, NLSI or NIHI?

NIHI is cheaper with a 0.68% expense ratio, compared with 2.89% for NLSI.

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

NIHI has the higher dividend yield at 7.83%, compared with 2.42% for NLSI.

What is the main difference between NLSI and NIHI?

NLSI is categorized as Long-Short, while NIHI is Derivative Income. Their fees differ too: 2.89% for NLSI and 0.68% for NIHI.