QQQI vs. TSPY

Last updated Jun 9, 2026

QQQI (NEOS Nasdaq-100 High Income ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both exchange-traded funds - QQQI is a Nasdaq-100 fund actively managed by Neos, while TSPY is a Derivative Income fund actively managed by TappAlpha. Both are actively managed. Over the past year, QQQI returned 25.86% vs 23.65% for TSPY. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.68% expense ratio.

Performance

QQQI vs. TSPY - Performance Comparison

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

Returns By Period

In the year-to-date period, QQQI achieves a 9.93% return, which is significantly higher than TSPY's 6.27% return.

QQQI

• 1D: 1.27%
• 1M: -0.05%
• YTD: 9.93%
• 6M: 9.25%
• 1Y: 25.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSPY

• 1D: 0.24%
• 1M: 0.11%
• YTD: 6.27%
• 6M: 6.48%
• 1Y: 23.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QQQI vs. TSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	9.93%	18.62%	11.29%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	6.27%	17.29%	6.59%

Correlation

The correlation between QQQI and TSPY 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 (1Y) Calculated over the trailing 1-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024	0.86

The correlation between QQQI and TSPY has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

QQQI vs. TSPY — Risk / Return Rank

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

QQQI

QQQI Risk / Return Rank: 64
QQQI Sharpe Ratio Rank: 63
QQQI Sortino Ratio Rank: 58
QQQI Omega Ratio Rank: 66
QQQI Calmar Ratio Rank: 60
QQQI Martin Ratio Rank: 71

TSPY

TSPY Risk / Return Rank: 65
TSPY Sharpe Ratio Rank: 67
TSPY Sortino Ratio Rank: 66
TSPY Omega Ratio Rank: 69
TSPY Calmar Ratio Rank: 55
TSPY 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. TSPY - Risk-Adjusted Trends Comparison

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

	QQQI	TSPY	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.99	-0.09
Sortino ratio: Return per unit of downside risk	2.48	2.74	-0.26
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	2.70	2.47	+0.24
Martin ratio: Return relative to average drawdown	11.98	10.91	+1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQI vs. TSPY - Sharpe Ratio Comparison

The current QQQI Sharpe Ratio is 1.91, which is comparable to the TSPY Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of QQQI and TSPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQQI	TSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	1.99	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	1.05	+0.17

Drawdowns

QQQI vs. TSPY - Drawdown Comparison

The maximum QQQI drawdown since its inception was -20.00%, which is greater than TSPY's maximum drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for QQQI and TSPY.

Drawdown Indicators

	QQQI	TSPY	Difference
Max Drawdown Largest peak-to-trough decline	-20.00%	-18.02%	-1.98%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-9.63%	+0.02%
Current Drawdown Current decline from peak	-3.26%	-2.82%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.20%	-2.52%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.17%	-0.01%

Volatility

QQQI vs. TSPY - Volatility Comparison

NEOS Nasdaq-100 High Income ETF (QQQI) has a higher volatility of 5.07% compared to TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) at 3.54%. This indicates that QQQI's price experiences larger fluctuations and is considered to be riskier than TSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQI	TSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	3.54%	+1.53%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	9.15%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.65%	11.94%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	16.13%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.25%	16.13%	+1.12%

QQQI vs. TSPY - Expense Ratio Comparison

Both QQQI and TSPY have an expense ratio of 0.68%.

Dividends

QQQI vs. TSPY - Dividend Comparison

QQQI's dividend yield for the trailing twelve months is around 13.61%, less than TSPY's 14.06% yield.

Position	TTM	2025	2024
QQQI NEOS Nasdaq-100 High Income ETF	13.61%	13.82%	12.85%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	14.06%	13.69%	3.45%

Frequently Asked Questions

Can I hold both QQQI and TSPY in my portfolio?

QQQI and TSPY 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 is riskier, QQQI or TSPY?

QQQI has higher volatility (5.07%) compared to TSPY (3.54%). In terms of maximum drawdown, QQQI dropped -20.00% vs TSPY's -18.02%.

Which ETF is better, QQQI or TSPY?

On 1-year performance, QQQI leads with 25.86% vs 23.65% for TSPY. Both ETFs have the same 0.68% expense ratio. On volatility, TSPY has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQI or TSPY?

Over the 1-year period, QQQI has performed better with a 25.86% return vs 23.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQI or TSPY?

QQQI and TSPY have the same expense ratio: 0.68% per year.

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

TSPY has the higher dividend yield at 14.06%, compared with 13.61% for QQQI.

What is the main difference between QQQI and TSPY?

QQQI is categorized as Nasdaq-100, while TSPY is Derivative Income. They also come from different issuers: Neos and TappAlpha.

Which has better risk-adjusted returns?

TSPY currently has the higher Sharpe Ratio (1.99 vs 1.91), 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.