XSPI vs. CWII

Last updated Jun 24, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and CWII (REX CRWV Growth & Income ETF) are both Derivative Income funds. XSPI is passively managed, while CWII is actively managed. At a 0.41 correlation, their price movements are largely independent. XSPI charges 0.98%/yr vs 1.03%/yr for CWII.

Performance

XSPI vs. CWII - 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 REX CRWV Growth & Income ETF (CWII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XSPI

• 1D: -1.72%
• 1M: -1.90%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CWII

• 1D: 0.00%
• 1M: 10,273.16%
• YTD: 13,199.78%
• 6M: 11,946.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSPI vs. CWII - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	3.95%
CWII REX CRWV Growth & Income ETF	10,885.81%

Correlation

The correlation between XSPI and CWII is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	0.41

Return for Risk

XSPI vs. CWII - 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 REX CRWV Growth & Income ETF (CWII). 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

XSPI vs. CWII - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.78%, smaller than the maximum CWII drawdown of -51.04%. Use the drawdown chart below to compare losses from any high point for XSPI and CWII.

Drawdown Indicators

	XSPI	CWII	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-51.04%	+39.26%
Current Drawdown Current decline from peak	-3.70%	0.00%	-3.70%
Average Drawdown Average peak-to-trough decline	-2.41%	-33.26%	+30.85%

Volatility

Volatility by Period

	XSPI	CWII	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.76%	13,701.30%	-13,682.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.76%	13,701.30%	-13,682.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.76%	13,701.30%	-13,682.54%

XSPI vs. CWII - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is lower than CWII's 1.03% expense ratio.

Dividends

XSPI vs. CWII - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 7.03%, less than CWII's 123.26% yield.

Position	TTM	2025
CWII REX CRWV Growth & Income ETF	123.26%	6.09%
XSPI NEOS Boosted S&P 500 High Income ETF	7.03%	0.00%

Frequently Asked Questions

Can I hold both XSPI and CWII in my portfolio?

XSPI and CWII have a correlation of 0.41, 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 CWII?

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 CWII?

XSPI is cheaper with a 0.98% expense ratio, compared with 1.03% for CWII.

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

CWII has the higher dividend yield at 123.26%, compared with 7.03% for XSPI.

What is the main difference between XSPI and CWII?

They also come from different issuers: NEOS Investments and REX Shares. Their fees differ too: 0.98% for XSPI and 1.03% for CWII.