SLJY vs. IWMI

Last updated Jun 24, 2026

SLJY (Amplify SILJ Covered Call ETF) and IWMI (NEOS Russell 2000 High Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.46 correlation, their price movements are largely independent. SLJY charges 0.75%/yr vs 0.68%/yr for IWMI.

Performance

SLJY vs. IWMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify SILJ Covered Call ETF (SLJY) and NEOS Russell 2000 High Income ETF (IWMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLJY achieves a -4.62% return, which is significantly lower than IWMI's 16.33% return.

SLJY

• 1D: -4.03%
• 1M: -10.47%
• YTD: -4.62%
• 6M: -7.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMI

• 1D: -0.73%
• 1M: 3.68%
• YTD: 16.33%
• 6M: 14.17%
• 1Y: 35.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLJY vs. IWMI - Yearly Performance Comparison

	2026 (YTD)	2025
SLJY Amplify SILJ Covered Call ETF	-4.62%	42.11%
IWMI NEOS Russell 2000 High Income ETF	16.33%	9.37%

Correlation

The correlation between SLJY and IWMI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 19, 2025	0.46

Return for Risk

SLJY vs. IWMI — Risk / Return Rank

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

SLJY

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

IWMI

IWMI Risk / Return Rank: 79
IWMI Sharpe Ratio Rank: 77
IWMI Sortino Ratio Rank: 76
IWMI Omega Ratio Rank: 72
IWMI Calmar Ratio Rank: 83
IWMI Martin Ratio Rank: 87

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.

SLJY vs. IWMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify SILJ Covered Call ETF (SLJY) and NEOS Russell 2000 High Income ETF (IWMI). 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.

	SLJY	IWMI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.34	—
Sortino ratio: Return per unit of downside risk	—	3.23	—
Omega ratio: Gain probability vs. loss probability	—	1.40	—
Calmar ratio: Return relative to maximum drawdown	—	4.29	—
Martin ratio: Return relative to average drawdown	—	17.68	—

Drawdowns

SLJY vs. IWMI - Drawdown Comparison

The maximum SLJY drawdown since its inception was -32.40%, which is greater than IWMI's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for SLJY and IWMI.

Drawdown Indicators

	SLJY	IWMI	Difference
Max Drawdown Largest peak-to-trough decline	-32.40%	-23.88%	-8.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.40%	—
Current Drawdown Current decline from peak	-30.62%	-0.73%	-29.89%
Average Drawdown Average peak-to-trough decline	-10.64%	-4.03%	-6.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.04%	—

Volatility

Volatility by Period

	SLJY	IWMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	50.39%	15.41%	+34.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.39%	17.95%	+32.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.39%	17.95%	+32.44%

SLJY vs. IWMI - Expense Ratio Comparison

SLJY has a 0.75% expense ratio, which is higher than IWMI's 0.68% expense ratio.

Dividends

SLJY vs. IWMI - Dividend Comparison

SLJY's dividend yield for the trailing twelve months is around 18.88%, more than IWMI's 14.53% yield.

Position	TTM	2025	2024
IWMI NEOS Russell 2000 High Income ETF	14.53%	14.05%	8.78%
SLJY Amplify SILJ Covered Call ETF	18.88%	6.26%	0.00%

Frequently Asked Questions

Can I hold both SLJY and IWMI in my portfolio?

SLJY and IWMI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLJY or IWMI?

On fees, IWMI 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, SLJY or IWMI?

IWMI is cheaper with a 0.68% expense ratio, compared with 0.75% for SLJY.

Which ETF pays a higher dividend yield, SLJY or IWMI?

SLJY has the higher dividend yield at 18.88%, compared with 14.53% for IWMI.

What is the main difference between SLJY and IWMI?

They also come from different issuers: Amplify and Neos. Their fees differ too: 0.75% for SLJY and 0.68% for IWMI.