XSPI vs. SPIN

Last updated Jun 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and SPIN (State Street US Equity Premium Income ETF) are both Derivative Income funds. XSPI is passively managed, while SPIN is actively managed. Their correlation of 0.93 suggests significant overlap in exposure. XSPI charges 0.98%/yr vs 0.25%/yr for SPIN.

Performance

XSPI vs. SPIN - 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 State Street US Equity Premium Income ETF (SPIN). 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*: —

SPIN

• 1D: -0.15%
• 1M: 2.52%
• YTD: 2.91%
• 6M: 3.47%
• 1Y: 19.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSPI vs. SPIN - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%
SPIN State Street US Equity Premium Income ETF	2.35%

Correlation

The correlation between XSPI and SPIN 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 4, 2026	0.93

Return for Risk

XSPI vs. SPIN — Risk / Return Rank

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

SPIN

SPIN Risk / Return Rank: 52
SPIN Sharpe Ratio Rank: 55
SPIN Sortino Ratio Rank: 54
SPIN Omega Ratio Rank: 58
SPIN Calmar Ratio Rank: 40
SPIN Martin Ratio Rank: 50

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. SPIN - 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 State Street US Equity Premium Income ETF (SPIN). 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	SPIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	0.95	+0.60

Drawdowns

XSPI vs. SPIN - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, smaller than the maximum SPIN drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for XSPI and SPIN.

Drawdown Indicators

	XSPI	SPIN	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-16.85%	+5.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.81%	—
Current Drawdown Current decline from peak	-0.89%	-0.40%	-0.49%
Average Drawdown Average peak-to-trough decline	-2.23%	-2.29%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.35%	—

Volatility

Volatility by Period

	XSPI	SPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	10.49%	+7.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	14.33%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	14.33%	+3.31%

XSPI vs. SPIN - Expense Ratio Comparison

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

Dividends

XSPI vs. SPIN - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.83%, more than SPIN's 5.64% yield.

Position	TTM	2025	2024
SPIN State Street US Equity Premium Income ETF	5.64%	8.20%	2.36%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSPI and SPIN in my portfolio?

With a correlation of 0.93, XSPI and SPIN 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, XSPI or SPIN?

On fees, SPIN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XSPI or SPIN?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.98% for XSPI.

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

XSPI has the higher dividend yield at 6.83%, compared with 5.64% for SPIN.

What is the main difference between XSPI and SPIN?

They also come from different issuers: NEOS Investments and State Street. Their fees differ too: 0.98% for XSPI and 0.25% for SPIN.