XSPI vs. TSPY

Last updated Jun 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and TSPY (TappAlpha SPY Growth & Daily Income ETF) are both Derivative Income funds. XSPI is passively managed, while TSPY is actively managed. Their correlation of 0.93 suggests significant overlap in exposure. XSPI charges 0.98%/yr vs 0.68%/yr for TSPY.

Performance

XSPI vs. TSPY - 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 TappAlpha SPY Growth & Daily Income ETF (TSPY). 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*: —

TSPY

• 1D: -0.04%
• 1M: 5.21%
• YTD: 9.21%
• 6M: 9.43%
• 1Y: 27.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSPI vs. TSPY - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	8.22%
TSPY TappAlpha SPY Growth & Daily Income ETF	7.86%

Correlation

The correlation between XSPI and TSPY 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. TSPY — Risk / Return Rank

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

TSPY

TSPY Risk / Return Rank: 67
TSPY Sharpe Ratio Rank: 71
TSPY Sortino Ratio Rank: 71
TSPY Omega Ratio Rank: 71
TSPY Calmar Ratio Rank: 57
TSPY Martin Ratio Rank: 68

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. TSPY - 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 TappAlpha SPY Growth & Daily Income ETF (TSPY). 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	TSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.55	1.17	+0.38

Drawdowns

XSPI vs. TSPY - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.59%, smaller than the maximum TSPY drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for XSPI and TSPY.

Drawdown Indicators

	XSPI	TSPY	Difference
Max Drawdown Largest peak-to-trough decline	-11.59%	-18.02%	+6.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.63%	—
Current Drawdown Current decline from peak	-0.89%	-0.13%	-0.76%
Average Drawdown Average peak-to-trough decline	-2.23%	-2.53%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.16%	—

Volatility

Volatility by Period

	XSPI	TSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	11.68%	+5.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	16.05%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	16.05%	+1.59%

XSPI vs. TSPY - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is higher than TSPY's 0.68% expense ratio.

Dividends

XSPI vs. TSPY - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.83%, less than TSPY's 13.68% yield.

Position	TTM	2025	2024
TSPY TappAlpha SPY Growth & Daily Income ETF	13.68%	13.69%	3.45%
XSPI NEOS Boosted S&P 500 High Income ETF	6.83%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSPI and TSPY in my portfolio?

With a correlation of 0.93, XSPI and TSPY 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 TSPY?

On fees, TSPY 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, XSPI or TSPY?

TSPY is cheaper with a 0.68% expense ratio, compared with 0.98% for XSPI.

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

TSPY has the higher dividend yield at 13.68%, compared with 6.83% for XSPI.

What is the main difference between XSPI and TSPY?

They also come from different issuers: NEOS Investments and TappAlpha. Their fees differ too: 0.98% for XSPI and 0.68% for TSPY.