XSPI vs. IVVW

Last updated Apr 2, 2026

Compare and contrast key facts about NEOS Boosted S&P 500 High Income ETF (XSPI) and iShares S&P 500 BuyWrite ETF (IVVW).

XSPI and IVVW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSPI is a passively managed fund by NEOS Investments that tracks the performance of the S&P 500. It was launched on Feb 2, 2026. IVVW is a passively managed fund by iShares that tracks the performance of the Cboe S&P 500 Enhanced 1% OTM BuyWrite Index. It was launched on Mar 14, 2024. Both XSPI and IVVW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XSPI vs. IVVW - 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 iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

XSPI vs. IVVW - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	-6.01%
IVVW iShares S&P 500 BuyWrite ETF	-1.92%

Returns By Period

XSPI

• 1D: 0.96%
• 1M: -5.82%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: 0.60%
• 1M: -2.43%
• YTD: -1.13%
• 6M: 4.20%
• 1Y: 13.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSPI vs. IVVW - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is higher than IVVW's 0.25% expense ratio.

XSPI

NEOS Boosted S&P 500 High Income ETF

IVVW

iShares S&P 500 BuyWrite ETF

Return for Risk

XSPI vs. IVVW — Risk / Return Rank

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

IVVW

IVVW Risk / Return Rank: 57
IVVW Sharpe Ratio Rank: 47
IVVW Sortino Ratio Rank: 51
IVVW Omega Ratio Rank: 73
IVVW Calmar Ratio Rank: 46
IVVW Martin Ratio Rank: 70

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. IVVW - 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 iShares S&P 500 BuyWrite ETF (IVVW). 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	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.48	0.88	-2.36

Correlation

The correlation between XSPI and IVVW is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XSPI vs. IVVW - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 3.05%, less than IVVW's 19.78% yield.

	TTM	2025	2024
XSPI NEOS Boosted S&P 500 High Income ETF	3.05%	0.00%	0.00%
IVVW iShares S&P 500 BuyWrite ETF	19.78%	18.55%	13.72%

Drawdowns

XSPI vs. IVVW - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for XSPI and IVVW.

Drawdown Indicators

	XSPI	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-16.79%	+5.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.21%	—
Current Drawdown Current decline from peak	-6.88%	-2.90%	-3.98%
Average Drawdown Average peak-to-trough decline	-3.57%	-1.87%	-1.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.88%	—

Volatility

Volatility by Period

	XSPI	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.54%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.09%	15.56%	+6.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.09%	13.10%	+8.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	13.10%	+8.99%