QQQI vs. ISPY

Last updated Jun 18, 2026

QQQI (NEOS Nasdaq-100 High Income ETF) and ISPY (ProShares S&P 500 High Income ETF) are both exchange-traded funds - QQQI is a Nasdaq-100 fund actively managed by Neos, while ISPY is a Derivative Income fund tracking the S&P 500 Daily Covered Call Index. QQQI is actively managed, while ISPY is passively managed. Over the past year, QQQI returned 26.87% vs 22.42% for ISPY. Their correlation of 0.91 suggests significant overlap in exposure. QQQI charges 0.68%/yr vs 0.55%/yr for ISPY.

Performance

QQQI vs. ISPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Nasdaq-100 High Income ETF (QQQI) and ProShares S&P 500 High Income ETF (ISPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQQI achieves a 10.87% return, which is significantly higher than ISPY's 7.37% return.

QQQI

• 1D: -0.89%
• 1M: 1.10%
• YTD: 10.87%
• 6M: 13.62%
• 1Y: 26.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISPY

• 1D: -1.35%
• 1M: 0.29%
• YTD: 7.37%
• 6M: 9.40%
• 1Y: 22.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQI vs. ISPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	10.87%	18.62%	19.44%
ISPY ProShares S&P 500 High Income ETF	7.37%	13.15%	18.70%

Correlation

The correlation between QQQI and ISPY is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.91

The correlation between QQQI and ISPY has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

QQQI vs. ISPY - Sectors Allocation Comparison

Sectors	QQQI	ISPY
Technology	58.1%	32.3%
Communication Services	14.2%	8.8%
Consumer Cyclical	11.3%	8.0%
Consumer Defensive	6.5%	4.0%
Healthcare	3.9%	7.4%
Industrials	3.0%	6.7%
Utilities	1.3%	2.2%
Basic Materials	1.0%	1.5%
Energy	0.5%	2.8%
Financial Services	0.2%	20.1%
Real Estate	0.1%	1.6%

Return for Risk

QQQI vs. ISPY — Risk / Return Rank

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

QQQI

QQQI Risk / Return Rank: 62
QQQI Sharpe Ratio Rank: 60
QQQI Sortino Ratio Rank: 55
QQQI Omega Ratio Rank: 63
QQQI Calmar Ratio Rank: 60
QQQI Martin Ratio Rank: 70

ISPY

ISPY Risk / Return Rank: 59
ISPY Sharpe Ratio Rank: 60
ISPY Sortino Ratio Rank: 55
ISPY Omega Ratio Rank: 58
ISPY Calmar Ratio Rank: 57
ISPY Martin Ratio Rank: 65

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.

QQQI vs. ISPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Nasdaq-100 High Income ETF (QQQI) and ProShares S&P 500 High Income ETF (ISPY). 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.

	QQQI	ISPY	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.88	0.00
Sortino ratio: Return per unit of downside risk	2.50	2.47	+0.03
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	2.81	2.67	+0.14
Martin ratio: Return relative to average drawdown	12.05	11.06	+0.99

QQQI vs. ISPY - Sharpe Ratio Comparison

The current QQQI Sharpe Ratio is 1.88, which is comparable to the ISPY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of QQQI and ISPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QQQI vs. ISPY - Drawdown Comparison

The maximum QQQI drawdown since its inception was -20.00%, which is greater than ISPY's maximum drawdown of -16.88%. Use the drawdown chart below to compare losses from any high point for QQQI and ISPY.

Drawdown Indicators

	QQQI	ISPY	Difference
Max Drawdown Largest peak-to-trough decline	-20.00%	-16.88%	-3.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-8.43%	-1.18%
Current Drawdown Current decline from peak	-2.42%	-2.74%	+0.32%
Average Drawdown Average peak-to-trough decline	-2.21%	-2.09%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.03%	+0.21%

Volatility

QQQI vs. ISPY - Volatility Comparison

NEOS Nasdaq-100 High Income ETF (QQQI) has a higher volatility of 6.81% compared to ProShares S&P 500 High Income ETF (ISPY) at 4.70%. This indicates that QQQI's price experiences larger fluctuations and is considered to be riskier than ISPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQI	ISPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.81%	4.70%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	9.46%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	12.00%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.42%	13.72%	+3.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	13.72%	+3.70%

QQQI vs. ISPY - Expense Ratio Comparison

QQQI has a 0.68% expense ratio, which is higher than ISPY's 0.55% expense ratio.

Dividends

QQQI vs. ISPY - Dividend Comparison

QQQI's dividend yield for the trailing twelve months is around 14.83%, more than ISPY's 4.50% yield.

Position	TTM	2025	2024
ISPY ProShares S&P 500 High Income ETF	4.50%	8.56%	9.84%
QQQI NEOS Nasdaq-100 High Income ETF	14.83%	13.82%	12.85%

Frequently Asked Questions

Can I hold both QQQI and ISPY in my portfolio?

With a correlation of 0.91, QQQI and ISPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QQQI or ISPY?

QQQI has higher volatility (6.81%) compared to ISPY (4.70%). In terms of maximum drawdown, QQQI dropped -20.00% vs ISPY's -16.88%.

Which ETF is better, QQQI or ISPY?

On 1-year performance, QQQI leads with 26.87% vs 22.42% for ISPY. On fees, ISPY is cheaper at 0.55% per year. On volatility, ISPY has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQI or ISPY?

Over the 1-year period, QQQI has performed better with a 26.87% return vs 22.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQI or ISPY?

ISPY is cheaper with a 0.55% expense ratio, compared with 0.68% for QQQI.

Which ETF pays a higher dividend yield, QQQI or ISPY?

QQQI has the higher dividend yield at 14.83%, compared with 4.50% for ISPY.

What is the main difference between QQQI and ISPY?

QQQI is categorized as Nasdaq-100, while ISPY is Derivative Income. They also come from different issuers: Neos and ProShares. Their fees differ too: 0.68% for QQQI and 0.55% for ISPY.

Which has better risk-adjusted returns?

ISPY currently has the higher Sharpe Ratio (1.88 vs 1.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.