SPYI: NEOS S&P 500 High Income ETF

What does SPYI hold?#

This fund owns the stocks in the S&P 500 and trades options on the index to create monthly income. The options trade away some of the gains when stocks rise fast. Its price can still drop when the stock market falls.

It does not track an index. Its managers choose what it holds. It had 510 holdings as of June 30, 2026, according to NEOS.

What is the SPYI expense ratio?#

SPYI charges 0.68% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.68% fee comes to about $68 a year.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

How has SPYI done since 2022?#

From August 2022 to October 2026, SPYI returned about 14.7% a year. Say you put in $10,000 at the start. It would have been worth about $17,611 at the end, with every dividend reinvested.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

SPYI returns by year#

What was SPYI’s worst drop?#

A drawdown is how far a fund falls from its last high point. SPYI’s worst fall was −16.5%, from February 19, 2025 to April 8, 2025. It got back to that high on June 25, 2025.

The chart shows how far below its last high the fund was on each day. Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

Which Tactfolio strategies hold SPYI?#

No classic strategy holds SPYI yet. You can add it to your own rules in the builder and see how they would have done.

How does SPYI compare with similar ETFs?#

Funds that can stand in for SPYI:

• GPIX: Goldman Sachs S&P 500 Premium Income ETF, 0.29% a year
• JEPI: JPMorgan Equity Premium Income ETF, 0.35% a year
• JEPQ: JPMorgan Nasdaq Equity Premium Income ETF, 0.35% a year
• DIVO: Amplify CWP Enhanced Dividend Income ETF, 0.56% a year

See all 8 SPYI alternatives, compared on the same dates as SPYI.

Test SPYI in your own rules#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add SPYI, and see how a rule such as “hold it only above its 200-day average” would have done. Strategies run on daily prices and hold US stocks and ETFs only.

The details#

Prices come from Tactfolio’s stored daily prices for SPYI. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns.

Fund facts come from NEOS. We checked them on October 17, 2026. Read what a backtest simulates and how to read drawdown and CAGR for more on these measures.