XQQI vs. SPYI

Last updated Jul 17, 2026

XQQI (NEOS Boosted Nasdaq-100 High Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - XQQI is a Nasdaq-100 fund actively managed by NEOS, while SPYI is a Derivative Income fund actively managed by Neos. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. XQQI charges 0.98%/yr vs 0.68%/yr for SPYI.

Performance

XQQI vs. SPYI - 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 S&P 500 High Income ETF (SPYI). 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*: —

SPYI

• 1D: -0.40%
• 1M: 0.74%
• 6M: 7.03%
• YTD: 8.23%
• 1Y: 18.77%
• 3Y*: 15.30%
• 5Y*: —
• 10Y*: —

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

XQQI vs. SPYI - Yearly Performance Comparison

	2026 (YTD)
XQQI NEOS Boosted Nasdaq-100 High Income ETF	8.53%
SPYI NEOS S&P 500 High Income ETF	6.24%

Correlation

The correlation between XQQI and SPYI is 0.93, 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	0.93

Return for Risk

XQQI vs. SPYI — 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.

SPYI

SPYI Risk / Return Rank: 70
SPYI Sharpe Ratio Rank: 70
SPYI Sortino Ratio Rank: 67
SPYI Omega Ratio Rank: 74
SPYI Calmar Ratio Rank: 61
SPYI Martin Ratio Rank: 79

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. SPYI - 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 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.

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	SPYI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.80	—
Sortino ratio: Return per unit of downside risk	—	2.49	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	11.93	—

Drawdowns

XQQI vs. SPYI - Drawdown Comparison

The maximum XQQI drawdown since its inception was -13.55%, smaller than the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for XQQI and SPYI.

Drawdown Indicators

	XQQI	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-13.55%	-16.47%	+2.92%
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	-6.94%	-0.40%	-6.54%
Average Drawdown Average peak-to-trough decline	-3.18%	-1.79%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.58%	—

Volatility

Volatility by Period

	XQQI	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.11%	10.45%	+16.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.11%	12.96%	+14.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.11%	12.96%	+14.15%

XQQI vs. SPYI - Expense Ratio Comparison

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

Dividends

XQQI vs. SPYI - Dividend Comparison

XQQI's dividend yield for the trailing twelve months is around 10.35%, less than SPYI's 11.75% yield.

Position	TTM	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	11.75%	11.70%	12.04%	12.01%	4.10%
XQQI NEOS Boosted Nasdaq-100 High Income ETF	10.35%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XQQI and SPYI in my portfolio?

With a correlation of 0.93, XQQI and SPYI 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, XQQI or SPYI?

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, XQQI or SPYI?

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

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

SPYI has the higher dividend yield at 11.75%, compared with 10.35% for XQQI.

What is the main difference between XQQI and SPYI?

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