XQQI vs. IWMI

Last updated Jul 17, 2026

XQQI (NEOS Boosted Nasdaq-100 High Income ETF) and IWMI (NEOS Russell 2000 High Income ETF) are both exchange-traded funds - XQQI is a Nasdaq-100 fund actively managed by NEOS, while IWMI is a Derivative Income fund actively managed by Neos. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. XQQI charges 0.98%/yr vs 0.68%/yr for IWMI.

Performance

XQQI vs. IWMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Boosted Nasdaq-100 High Income ETF (XQQI) and NEOS Russell 2000 High Income ETF (IWMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XQQI

• 1D: -2.27%
• 1M: -4.60%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMI

• 1D: 0.00%
• 1M: 1.67%
• 6M: 11.59%
• YTD: 17.17%
• 1Y: 32.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XQQI vs. IWMI - Yearly Performance Comparison

	2026 (YTD)
XQQI NEOS Boosted Nasdaq-100 High Income ETF	8.53%
IWMI NEOS Russell 2000 High Income ETF	11.66%

Correlation

The correlation between XQQI and IWMI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.79

Return for Risk

XQQI vs. IWMI — Risk / Return Rank

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

XQQI

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

IWMI

IWMI Risk / Return Rank: 85
IWMI Sharpe Ratio Rank: 84
IWMI Sortino Ratio Rank: 83
IWMI Omega Ratio Rank: 80
IWMI Calmar Ratio Rank: 86
IWMI Martin Ratio Rank: 90

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.

XQQI vs. IWMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted Nasdaq-100 High Income ETF (XQQI) and NEOS Russell 2000 High Income ETF (IWMI). 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.

	XQQI	IWMI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.13	—
Sortino ratio: Return per unit of downside risk	—	2.99	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.87	—
Martin ratio: Return relative to average drawdown	—	15.93	—

Drawdowns

XQQI vs. IWMI - Drawdown Comparison

The maximum XQQI drawdown since its inception was -13.55%, smaller than the maximum IWMI drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for XQQI and IWMI.

Drawdown Indicators

	XQQI	IWMI	Difference
Max Drawdown Largest peak-to-trough decline	-13.55%	-23.88%	+10.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.40%	—
Current Drawdown Current decline from peak	-6.94%	-0.82%	-6.12%
Average Drawdown Average peak-to-trough decline	-3.18%	-3.92%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.04%	—

Volatility

Volatility by Period

	XQQI	IWMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.11%	15.28%	+11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.11%	17.74%	+9.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.11%	17.74%	+9.37%

XQQI vs. IWMI - Expense Ratio Comparison

XQQI has a 0.98% expense ratio, which is higher than IWMI's 0.68% expense ratio.

Dividends

XQQI vs. IWMI - Dividend Comparison

XQQI's dividend yield for the trailing twelve months is around 10.35%, less than IWMI's 13.37% yield.

Position	TTM	2025	2024
IWMI NEOS Russell 2000 High Income ETF	13.37%	14.05%	8.78%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	10.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XQQI and IWMI in my portfolio?

XQQI and IWMI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XQQI or IWMI?

On fees, IWMI 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, XQQI or IWMI?

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

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

IWMI has the higher dividend yield at 13.37%, compared with 10.35% for XQQI.

What is the main difference between XQQI and IWMI?

XQQI is categorized as Nasdaq-100, while IWMI is Derivative Income. They also come from different issuers: NEOS and Neos. Their fees differ too: 0.98% for XQQI and 0.68% for IWMI.