SPYI vs. MOOD

Last updated Jun 9, 2026

SPYI (NEOS S&P 500 High Income ETF) and MOOD (Relative Sentiment Tactical Allocation ETF) are both exchange-traded funds - SPYI is a Derivative Income fund actively managed by Neos, while MOOD is a Tactical Allocation fund actively managed by Relative Sentiment. Both are actively managed. Over the past 3 years, SPYI returned 15.60%/yr vs 19.89%/yr for MOOD. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.68% expense ratio.

Performance

SPYI vs. MOOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS S&P 500 High Income ETF (SPYI) and Relative Sentiment Tactical Allocation ETF (MOOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYI achieves a 5.97% return, which is significantly lower than MOOD's 12.64% return.

SPYI

• 1D: 0.30%
• 1M: 0.11%
• YTD: 5.97%
• 6M: 6.55%
• 1Y: 20.24%
• 3Y*: 15.60%
• 5Y*: —
• 10Y*: —

MOOD

• 1D: 0.40%
• 1M: -0.30%
• YTD: 12.64%
• 6M: 14.97%
• 1Y: 33.33%
• 3Y*: 19.89%
• 5Y*: —
• 10Y*: —

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

SPYI vs. MOOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	5.97%	16.67%	19.03%	18.09%	-3.96%
MOOD Relative Sentiment Tactical Allocation ETF	12.64%	30.39%	12.53%	12.56%	-1.95%

Correlation

The correlation between SPYI and MOOD is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.75

The correlation between SPYI and MOOD has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

SPYI vs. MOOD - Sectors Allocation Comparison

Sectors	SPYI	MOOD
Technology	35.5%	27.6%
Financial Services	11.8%	15.7%
Communication Services	11.2%	7.9%
Consumer Cyclical	10.1%	9.5%
Healthcare	8.5%	8.4%
Industrials	8.4%	12.6%
Consumer Defensive	4.9%	5.1%
Energy	3.5%	3.7%
Utilities	2.3%	2.7%
Real Estate	2.0%	2.5%
Basic Materials	1.8%	4.4%

Return for Risk

SPYI vs. MOOD — Risk / Return Rank

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

SPYI

SPYI Risk / Return Rank: 70
SPYI Sharpe Ratio Rank: 70
SPYI Sortino Ratio Rank: 68
SPYI Omega Ratio Rank: 76
SPYI Calmar Ratio Rank: 59
SPYI Martin Ratio Rank: 78

MOOD

MOOD Risk / Return Rank: 74
MOOD Sharpe Ratio Rank: 81
MOOD Sortino Ratio Rank: 67
MOOD Omega Ratio Rank: 84
MOOD Calmar Ratio Rank: 75
MOOD 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.

SPYI vs. MOOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS S&P 500 High Income ETF (SPYI) and Relative Sentiment Tactical Allocation ETF (MOOD). 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.

	SPYI	MOOD	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.34	-0.28
Sortino ratio: Return per unit of downside risk	2.78	2.76	+0.02
Omega ratio: Gain probability vs. loss probability	1.40	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	2.63	3.45	-0.81
Martin ratio: Return relative to average drawdown	13.60	10.67	+2.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYI vs. MOOD - Sharpe Ratio Comparison

The current SPYI Sharpe Ratio is 2.06, which is comparable to the MOOD Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SPYI and MOOD, 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

	SPYI	MOOD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.34	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.31	-0.14

Drawdowns

SPYI vs. MOOD - Drawdown Comparison

The maximum SPYI drawdown since its inception was -16.47%, which is greater than MOOD's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for SPYI and MOOD.

Drawdown Indicators

	SPYI	MOOD	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-14.34%	-2.13%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-9.71%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	-16.47%	-9.71%	-6.76%
Current Drawdown Current decline from peak	-2.11%	-2.14%	+0.03%
Average Drawdown Average peak-to-trough decline	-1.80%	-2.32%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	3.13%	-1.64%

Volatility

SPYI vs. MOOD - Volatility Comparison

The current volatility for NEOS S&P 500 High Income ETF (SPYI) is 2.87%, while Relative Sentiment Tactical Allocation ETF (MOOD) has a volatility of 3.59%. This indicates that SPYI experiences smaller price fluctuations and is considered to be less risky than MOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYI	MOOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	3.59%	-0.72%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	12.55%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	9.88%	14.33%	-4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.95%	12.10%	+0.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	12.10%	+0.85%

SPYI vs. MOOD - Expense Ratio Comparison

Both SPYI and MOOD have an expense ratio of 0.68%.

Dividends

SPYI vs. MOOD - Dividend Comparison

SPYI's dividend yield for the trailing twelve months is around 11.83%, more than MOOD's 0.36% yield.

Position	TTM	2025	2024	2023	2022
MOOD Relative Sentiment Tactical Allocation ETF	0.36%	0.40%	1.33%	1.34%	1.43%
SPYI NEOS S&P 500 High Income ETF	11.83%	11.70%	12.04%	12.01%	4.10%

Frequently Asked Questions

Can I hold both SPYI and MOOD in my portfolio?

SPYI and MOOD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYI or MOOD?

MOOD has higher volatility (3.59%) compared to SPYI (2.87%). In terms of maximum drawdown, SPYI dropped -16.47% vs MOOD's -14.34%.

Which ETF is better, SPYI or MOOD?

On 3-year performance, MOOD leads with 19.89% vs 15.60% for SPYI. Both ETFs have the same 0.68% expense ratio. On volatility, SPYI has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYI or MOOD?

Over the 3-year period, MOOD has performed better with a 19.89% return vs 15.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYI or MOOD?

SPYI and MOOD have the same expense ratio: 0.68% per year.

Which ETF pays a higher dividend yield, SPYI or MOOD?

SPYI has the higher dividend yield at 11.83%, compared with 0.36% for MOOD.

What is the main difference between SPYI and MOOD?

SPYI is categorized as Derivative Income, while MOOD is Tactical Allocation. They also come from different issuers: Neos and Relative Sentiment.

Which has better risk-adjusted returns?

MOOD currently has the higher Sharpe Ratio (2.34 vs 2.06), 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.