TOPW vs. XSPI

Last updated Jun 23, 2026

TOPW (Roundhill Top WeeklyPay ETF) and XSPI (NEOS Boosted S&P 500 High Income ETF) are both Derivative Income funds - TOPW tracks the Solactive Roundhill WeeklyPay Universe Index while XSPI tracks the S&P 500. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. TOPW charges 0.99%/yr vs 0.98%/yr for XSPI.

Performance

TOPW vs. XSPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Top WeeklyPay ETF (TOPW) and NEOS Boosted S&P 500 High Income ETF (XSPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TOPW

• 1D: -2.84%
• 1M: -8.90%
• YTD: -1.90%
• 6M: -4.48%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XSPI

• 1D: -0.59%
• 1M: -0.19%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOPW vs. XSPI - Yearly Performance Comparison

	2026 (YTD)
TOPW Roundhill Top WeeklyPay ETF	1.77%
XSPI NEOS Boosted S&P 500 High Income ETF	5.77%

Correlation

The correlation between TOPW and XSPI is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.87

Return for Risk

TOPW vs. XSPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Top WeeklyPay ETF (TOPW) and NEOS Boosted S&P 500 High Income ETF (XSPI). 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.

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

Drawdowns

TOPW vs. XSPI - Drawdown Comparison

The maximum TOPW drawdown since its inception was -29.87%, which is greater than XSPI's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for TOPW and XSPI.

Drawdown Indicators

	TOPW	XSPI	Difference
Max Drawdown Largest peak-to-trough decline	-29.87%	-11.78%	-18.09%
Current Drawdown Current decline from peak	-18.04%	-2.02%	-16.02%
Average Drawdown Average peak-to-trough decline	-12.98%	-2.40%	-10.58%

Volatility

Volatility by Period

	TOPW	XSPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	27.79%	18.63%	+9.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.79%	18.63%	+9.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.79%	18.63%	+9.16%

TOPW vs. XSPI - Expense Ratio Comparison

TOPW has a 0.99% expense ratio, which is higher than XSPI's 0.98% expense ratio.

Dividends

TOPW vs. XSPI - Dividend Comparison

TOPW's dividend yield for the trailing twelve months is around 46.15%, more than XSPI's 6.91% yield.

Position	TTM	2025
TOPW Roundhill Top WeeklyPay ETF	46.15%	21.52%
XSPI NEOS Boosted S&P 500 High Income ETF	6.91%	0.00%

Frequently Asked Questions

Can I hold both TOPW and XSPI in my portfolio?

TOPW and XSPI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOPW or XSPI?

On fees, XSPI is cheaper at 0.98% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOPW or XSPI?

XSPI is cheaper with a 0.98% expense ratio, compared with 0.99% for TOPW.

Which ETF pays a higher dividend yield, TOPW or XSPI?

TOPW has the higher dividend yield at 46.15%, compared with 6.91% for XSPI.

What is the main difference between TOPW and XSPI?

TOPW tracks Solactive Roundhill WeeklyPay Universe Index, while XSPI tracks S&P 500. They also come from different issuers: Roundhill Investments and NEOS Investments. Their fees differ too: 0.99% for TOPW and 0.98% for XSPI.