SPYI vs. XQQI

Last updated Aug 4, 2026

SPYI (NEOS S&P 500 High Income ETF) and XQQI (NEOS Boosted Nasdaq-100 High Income ETF) are both exchange-traded funds - SPYI is a Derivative Income fund actively managed by Neos, while XQQI is a Nasdaq-100 fund actively managed by Neos. Both are actively managed. Their correlation of 0.92 means they have usually moved in the same direction. SPYI charges 0.68%/yr vs 0.98%/yr for XQQI.

Performance

SPYI vs. XQQI - Performance Comparison

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

Returns By Period

SPYI

• 1D: 1.14%
• 1M: 1.76%
• 6M: 7.18%
• YTD: 9.18%
• 1Y: 20.03%
• 3Y*: 15.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.81%

XQQI

• 1D: 2.19%
• 1M: -2.75%
• 6M: 7.05%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPYI NEOS S&P 500 High Income ETF	$155.96M	$140.10M	$149.40M
XQQI NEOS Boosted Nasdaq-100 High Income ETF	$10.60M	$13.71M	$14.32M

SPYI vs. XQQI - Yearly Performance Comparison

	2026 (YTD)
SPYI NEOS S&P 500 High Income ETF	7.18%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	7.05%

Correlation

The correlation between SPYI and XQQI is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.92

Return for Risk

SPYI vs. XQQI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPYI

SPYI Risk / Return Rank: 80
SPYI Sharpe Ratio Rank: 80
SPYI Sortino Ratio Rank: 79
SPYI Omega Ratio Rank: 82
SPYI Calmar Ratio Rank: 74
SPYI Martin Ratio Rank: 86

XQQI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPYI vs. XQQI - Risk-Adjusted Trends Comparison

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

	SPYI	XQQI	Difference
Sharpe ratio: Return per unit of total volatility	1.87	—	—
Sortino ratio: Return per unit of downside risk	2.58	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	2.61	—	—
Martin ratio: Return relative to average drawdown	12.52	—	—

Drawdowns

SPYI vs. XQQI - Drawdown Comparison

The maximum SPYI drawdown since its inception was -16.47%, which is greater than XQQI's maximum drawdown of -15.48%. Use the drawdown chart below to compare losses from any high point for SPYI and XQQI.

Drawdown Indicators

	SPYI	XQQI	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-15.48%	-0.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.47%	—	—
Current Drawdown Current decline from peak	0.00%	-8.22%	+8.22%
Average Drawdown Average peak-to-trough decline	-1.79%	-3.84%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	—	—

Volatility

Volatility by Period

	SPYI	XQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	28.37%	-17.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	28.37%	-15.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.97%	28.37%	-15.40%

SPYI vs. XQQI - Expense Ratio Comparison

SPYI has a 0.68% expense ratio, which is lower than XQQI's 0.98% expense ratio.

Dividends

SPYI vs. XQQI - Dividend Comparison

SPYI's dividend yield for the trailing twelve months is around 11.80%, more than XQQI's 10.49% yield.

Position	TTM	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	11.80%	11.70%	12.04%	12.01%	4.10%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	10.49%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYI and XQQI in my portfolio?

With a correlation of 0.92, SPYI and XQQI 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 ETF is better, SPYI or XQQI?

On fees, SPYI 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, SPYI or XQQI?

SPYI is cheaper with a 0.68% expense ratio, compared with 0.98% for XQQI.

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

SPYI has the higher dividend yield at 11.80%, compared with 10.49% for XQQI.

What is the main difference between SPYI and XQQI?

SPYI is categorized as Derivative Income, while XQQI is Nasdaq-100. Their fees differ too: 0.68% for SPYI and 0.98% for XQQI.