TOST vs. SPYI
TOST (Toast, Inc.) is a stock, while SPYI (NEOS S&P 500 High Income ETF) is Derivative Income fund actively managed by Neos. Over the past 3 years, TOST returned 4.72%/yr vs 16.57%/yr for SPYI. A 0.50 correlation means they provide meaningful diversification when combined.
Performance
TOST vs. SPYI - Performance Comparison
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Returns By Period
In the year-to-date period, TOST achieves a -28.98% return, which is significantly lower than SPYI's 8.08% return.
TOST
- 1D
- 0.60%
- 1M
- -11.63%
- YTD
- -28.98%
- 6M
- -28.35%
- 1Y
- -39.72%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
SPYI
- 1D
- 0.33%
- 1M
- 3.47%
- YTD
- 8.08%
- 6M
- 8.61%
- 1Y
- 23.19%
- 3Y*
- 16.57%
- 5Y*
- —
- 10Y*
- —
TOST vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TOST Toast, Inc. | -28.98% | -2.58% | 99.62% | 1.28% | -3.27% |
SPYI NEOS S&P 500 High Income ETF | 8.08% | 16.67% | 19.03% | 18.09% | -2.44% |
Correlation
The correlation between TOST and SPYI is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022 | 0.50 |
The correlation between TOST and SPYI shifts across timeframes, from 0.35 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TOST vs. SPYI — Risk / Return Rank
TOST
SPYI
TOST vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Toast, Inc. (TOST) and NEOS S&P 500 High Income ETF (SPYI). 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.
| TOST | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.29 | ||
| Sortino ratioReturn per unit of downside risk | -4.44 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.47 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 3.02 | -3.75 |
| Martin ratioReturn relative to average drawdown | -1.25 | 15.73 | -16.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TOST | SPYI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | 2.42 | -3.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.29 | 1.22 | -1.51 |
Drawdowns
TOST vs. SPYI - Drawdown Comparison
The maximum TOST drawdown since its inception was -80.56%, which is greater than SPYI's maximum drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for TOST and SPYI.
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Drawdown Indicators
| TOST | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.56% | -16.47% | -64.09% |
Max Drawdown (1Y)Largest decline over 1 year | -54.71% | -7.72% | -46.99% |
Max Drawdown (3Y)Largest decline over 3 years | -54.71% | -16.47% | -38.24% |
Current DrawdownCurrent decline from peak | -61.33% | -0.17% | -61.16% |
Average DrawdownAverage peak-to-trough decline | -57.92% | -1.80% | -56.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.73% | 1.48% | +30.25% |
Volatility
TOST vs. SPYI - Volatility Comparison
Toast, Inc. (TOST) has a higher volatility of 22.11% compared to NEOS S&P 500 High Income ETF (SPYI) at 1.78%. This indicates that TOST's price experiences larger fluctuations and is considered to be riskier than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TOST | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.11% | 1.78% | +20.33% |
Volatility (6M)Calculated over the trailing 6-month period | 36.65% | 7.42% | +29.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.93% | 9.62% | +36.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.35% | 12.91% | +48.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.35% | 12.91% | +48.44% |
Dividends
TOST vs. SPYI - Dividend Comparison
TOST has not paid dividends to shareholders, while SPYI's dividend yield for the trailing twelve months is around 11.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
SPYI NEOS S&P 500 High Income ETF | 11.60% | 11.70% | 12.04% | 12.01% | 4.10% |
TOST Toast, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TOST and SPYI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TOST has higher volatility (22.11%) compared to SPYI (1.78%). In terms of maximum drawdown, TOST dropped -80.56% vs SPYI's -16.47%.
SPYI currently has the higher Sharpe Ratio (2.42 vs -0.87), 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.
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