SPYH vs. EGGY

Last updated Jun 3, 2026

SPYH (NEOS S&P 500 Hedged Equity Income ETF) and EGGY (NestYield Dynamic Income ETF) are both exchange-traded funds - SPYH is a Equity Hedged fund actively managed by NEOS, while EGGY is a Derivative Income fund actively managed by NestYield. Both are actively managed. Over the past year, SPYH returned 19.81% vs 54.91% for EGGY. A 0.66 correlation means they provide meaningful diversification when combined. SPYH charges 0.68%/yr vs 0.95%/yr for EGGY.

Performance

SPYH vs. EGGY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS S&P 500 Hedged Equity Income ETF (SPYH) and NestYield Dynamic Income ETF (EGGY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYH achieves a 6.15% return, which is significantly lower than EGGY's 40.45% return.

SPYH

• 1D: 0.04%
• 1M: 3.31%
• YTD: 6.15%
• 6M: 6.77%
• 1Y: 19.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EGGY

• 1D: 4.65%
• 1M: 18.68%
• YTD: 40.45%
• 6M: 39.14%
• 1Y: 54.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPYH vs. EGGY - Yearly Performance Comparison

	2026 (YTD)	2025
SPYH NEOS S&P 500 Hedged Equity Income ETF	6.15%	21.09%
EGGY NestYield Dynamic Income ETF	40.45%	31.75%

Correlation

The correlation between SPYH and EGGY is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.66

The correlation between SPYH and EGGY has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.

Return for Risk

SPYH vs. EGGY — Risk / Return Rank

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

SPYH

SPYH Risk / Return Rank: 76
SPYH Sharpe Ratio Rank: 77
SPYH Sortino Ratio Rank: 77
SPYH Omega Ratio Rank: 80
SPYH Calmar Ratio Rank: 65
SPYH Martin Ratio Rank: 80

EGGY

EGGY Risk / Return Rank: 53
EGGY Sharpe Ratio Rank: 55
EGGY Sortino Ratio Rank: 47
EGGY Omega Ratio Rank: 54
EGGY Calmar Ratio Rank: 62
EGGY Martin Ratio Rank: 47

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.

SPYH vs. EGGY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS S&P 500 Hedged Equity Income ETF (SPYH) and NestYield Dynamic Income ETF (EGGY). 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.

	SPYH	EGGY	Difference
Sharpe ratio Return per unit of total volatility	2.55	1.90	+0.65
Sortino ratio Return per unit of downside risk	3.52	2.32	+1.20
Omega ratio Gain probability vs. loss probability	1.49	1.34	+0.15
Calmar ratio Return relative to maximum drawdown	3.33	3.06	+0.27
Martin ratio Return relative to average drawdown	16.13	7.74	+8.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYH vs. EGGY - Sharpe Ratio Comparison

The current SPYH Sharpe Ratio is 2.55, which is higher than the EGGY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SPYH and EGGY, 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

	SPYH	EGGY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.90	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	1.41	+0.55

Drawdowns

SPYH vs. EGGY - Drawdown Comparison

The maximum SPYH drawdown since its inception was -6.39%, smaller than the maximum EGGY drawdown of -18.34%. Use the drawdown chart below to compare losses from any high point for SPYH and EGGY.

Drawdown Indicators

	SPYH	EGGY	Difference
Max Drawdown Largest peak-to-trough decline	-6.39%	-18.34%	+11.95%
Max Drawdown (1Y) Largest decline over 1 year	-6.02%	-18.34%	+12.32%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.71%	-5.26%	+4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	7.26%	-6.02%

Volatility

SPYH vs. EGGY - Volatility Comparison

The current volatility for NEOS S&P 500 Hedged Equity Income ETF (SPYH) is 1.55%, while NestYield Dynamic Income ETF (EGGY) has a volatility of 12.46%. This indicates that SPYH experiences smaller price fluctuations and is considered to be less risky than EGGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYH	EGGY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	12.46%	-10.91%
Volatility (6M) Calculated over the trailing 6-month period	5.77%	23.89%	-18.12%
Volatility (1Y) Calculated over the trailing 1-year period	7.79%	29.04%	-21.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.37%	28.65%	-16.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	28.65%	-16.28%

SPYH vs. EGGY - Expense Ratio Comparison

SPYH has a 0.68% expense ratio, which is lower than EGGY's 0.95% expense ratio.

Dividends

SPYH vs. EGGY - Dividend Comparison

SPYH's dividend yield for the trailing twelve months is around 7.52%, less than EGGY's 25.40% yield.

Position	TTM	2025
EGGY NestYield Dynamic Income ETF	25.40%	28.26%
SPYH NEOS S&P 500 Hedged Equity Income ETF	7.52%	5.54%

Frequently Asked Questions

Can I hold both SPYH and EGGY in my portfolio?

SPYH and EGGY have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYH or EGGY?

EGGY has higher volatility (12.46%) compared to SPYH (1.55%). In terms of maximum drawdown, SPYH dropped -6.39% vs EGGY's -18.34%.

Which ETF is better, SPYH or EGGY?

On 1-year performance, EGGY leads with 54.91% vs 19.81% for SPYH. On fees, SPYH is cheaper at 0.68% per year. On volatility, SPYH has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYH or EGGY?

Over the 1-year period, EGGY has performed better with a 54.91% return vs 19.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYH or EGGY?

SPYH is cheaper with a 0.68% expense ratio, compared with 0.95% for EGGY.

Which ETF pays a higher dividend yield, SPYH or EGGY?

EGGY has the higher dividend yield at 25.40%, compared with 7.52% for SPYH.

What is the main difference between SPYH and EGGY?

SPYH is categorized as Equity Hedged, while EGGY is Derivative Income. They also come from different issuers: NEOS and NestYield. Their fees differ too: 0.68% for SPYH and 0.95% for EGGY.

Which has better risk-adjusted returns?

SPYH currently has the higher Sharpe Ratio (2.55 vs 1.90), 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.