XSPI vs. BUYW

Last updated Jun 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. XSPI is passively managed, while BUYW is actively managed. A 0.63 correlation means they provide meaningful diversification when combined. XSPI charges 0.98%/yr vs 1.29%/yr for BUYW.

Performance

XSPI vs. BUYW - Performance Comparison

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

Returns By Period

XSPI

• 1D: -0.89%
• 1M: 5.09%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

XSPI vs. BUYW - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%
BUYW Main Buywrite ETF	2.95%

Correlation

The correlation between XSPI and BUYW is 0.63, 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 4, 2026	0.63

Return for Risk

XSPI vs. BUYW — Risk / Return Rank

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

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

XSPI vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted S&P 500 High Income ETF (XSPI) and Main Buywrite ETF (BUYW). 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.

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

Sharpe Ratios by Period

	XSPI	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	1.17	+0.38

Drawdowns

XSPI vs. BUYW - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for XSPI and BUYW.

Drawdown Indicators

	XSPI	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-9.36%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.89%	-0.21%	-0.68%
Average Drawdown Average peak-to-trough decline	-2.23%	-0.61%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.48%	—

Volatility

Volatility by Period

	XSPI	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	4.85%	+12.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	8.47%	+9.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	8.47%	+9.17%

XSPI vs. BUYW - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

XSPI vs. BUYW - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.83%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSPI and BUYW in my portfolio?

XSPI and BUYW have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XSPI or BUYW?

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, XSPI or BUYW?

XSPI is cheaper with a 0.98% expense ratio, compared with 1.29% for BUYW.

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

XSPI has the higher dividend yield at 6.83%, compared with 5.91% for BUYW.

What is the main difference between XSPI and BUYW?

They also come from different issuers: NEOS Investments and Main Funds. Their fees differ too: 0.98% for XSPI and 1.29% for BUYW.