NEHI

NEOS Ethereum High Income ETF

Fund Performance Distribution Calendar

Distribution Information
Average Annual Total Returns

As of 12/31/2025

Distribution Frequency

Monthly

Expense Ratio

0.98%

Distribution Rate

--%

30-Day SEC Yield

--%

As of 12/31/2025

Inception

Nav

0.93%

Market Price

1.17%

1YR

Nav

--%

Market Price

--%

5YR

Nav

--%

Market Price

--%

10YR

Nav

--%

Market Price

--%

Targeted Benefits of NEHI's Strategy:

The Fund seeks to distribute monthly income generated from writing call options on Ethereum Futures ETFs
Actively managed by NEOS, the Fund seeks to offer upside potential via efficient exposure to Ethereum ETPs
The Fund implements a data-driven call option strategy, saving investors the time and potential expenses of trading options themselves.

Investment Objective:

The NEOS Ethereum High Income ETF (the “Fund”) seeks to generate high monthly income with the potential for appreciation based on exposure to exchange-traded products (“ETP”) that have direct exposure to Ethereum.

Distributions made by the Fund have been classified as a return of capital and may be comprised of option premiums, dividends, capital gains, and interest payments. As of the most recent distribution by the Fund, 98% was estimated to be return of capital. Please see the 19a-1 notices for a more comprehensive breakdown. To learn more about the potential tax efficiencies of return of capital distributions, click here.

The Fund does not invest in Ether directly.

Fund Details	As of: 01/21/2026
Fund Inception	12/3/2025
Fund Ticker	NEHI
CUSIP	78433H535
ISIN	US78433H5357
Gross Expense Ratio	0.98%
Net Assets	$26,834,710
Shares Outstanding	550,000
Primary Exchange	Cboe
Underlying Exposure	Ethereum ETPs
Distribution Frequency	Monthly

Fund Resources
Fact sheet
Prospectus

Pricing Information

Data as of 01/21/2026

Closing NAV Price
Net Asset Value	$48.79
Daily Change ($)	$-1.10
Daily Change (%)	-2.20%

Closing Market Price
Market Price	$49.12
Daily Change ($)	$-1.18
Daily Change (%)	-2.35%

Premium / Discount
Premium Discount (%)	0.68%
30-Day Median Bid-Ask Spread (%)	0.26%

Premium / Discount Information

Where might NEHI fit into an investment portfolio?

NEHI aims to offer exposure to Ethereum via ETPs with a data-driven call option overlay that seeks high monthly income and upside potential. The Fund may provide a way to pursue high levels of current income from Ethereum's price volatility, a source that's potentially less correlated to traditional income oriented investments.

Fund Performance

Data as of: 12/31/2025

	1 Mo	3 Mo	6 Mo	YTD	Inception (Cumulative)	1 Yr	3 Yr	5 Yr	Inception (Annualized)
Cumulative						Annualized
NAV Performance	-	-	-	-	0.93%	-	-	-	-
Market Performance	-	-	-	-	1.17%	-	-	-	-

Past performance is no guarantee of future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. For performance data current to the most recent month end, please call (866) 498-5677.

NEHI is bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns. Market Price returns are based upon the official closing price on the listing exchange (CBOE) at 4:00 p.m. ET when NAV is normally determined for NEHI, and do not represent the returns you would receive if you traded shares at other times. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding.

Data as of: 12/31/2025

	1 Mo	3 Mo	6 Mo	YTD	Inception (Cumulative)	1 Yr	3 Yr	5 Yr	Inception (Annualized)
Cumulative						Annualized
NAV Performance	-	-	-	-	0.93%	-	-	-	-
Market Performance	-	-	-	-	1.17%	-	-	-	-

Data as of: 12/31/2025

	1 Mo	3 Mo	6 Mo	YTD	Inception (Cumulative)	1 Yr	3 Yr	5 Yr	Inception (Annualized)
Cumulative						Annualized
NAV Performance (Post-Tax on Fund Distributions)	-	-	-	-	-0.24%	-	-	-	-
NAV Performance (Post-Tax on Fund Distributions and Shares Sold)	-	-	-	-	0.54%	-	-	-	-
Market Performance (Post-Tax on Fund Distributions)	-	-	-	-	0.00%	-	-	-	-
Market Performance (Post-Tax on Fund Distributions and Shares Sold)	-	-	-	-	0.68%	-	-	-	-

After-tax returns are calculated using the highest individual federal income tax rates in effect at the time of each distribution, and do not reflect the impact of state and local taxes. After-tax returns for most funds are calculated using the tax liability implied by each of their respective declared distributions. However, the exact tax characteristics of many distributions aren't known until after the close of the calendar year. When accounting for the return of capital, the system uses the pro-rata method to reduce cost basis. The pre-liquidation return is identical to a standard rate of return except when reinvesting the distributions, we must first reduce the reinvestment amount of each component of the distribution by the appropriate tax rate. Post-liquidation returns may be adversely impacted by an investor's deferred tax liabilities.

Distributions

Distribution Information (as of 12/31/2025)
Distribution Frequency	Monthly
Distribution Rate	--%
Distribution Amount / Share ($)	$1.4098
Distribution Amount / Share (%)	2.91%
30-Day SEC Yield	--%

Declaration Date	Ex-Div Date	Record Date	Payable Date	Amount ($)
01/20/2026	01/21/2026	01/21/2026	01/23/2026	$1.5061
02/17/2026	02/18/2026	02/18/2026	02/20/2026
03/17/2026	03/18/2026	03/18/2026	03/20/2026
04/21/2026	04/22/2026	04/22/2026	04/24/2026
05/19/2026	05/20/2026	05/20/2026	05/22/2026
06/15/2026	06/16/2026	06/16/2026	06/18/2026
07/21/2026	07/22/2026	07/22/2026	07/24/2026
08/18/2026	08/19/2026	08/19/2026	08/21/2026
09/15/2026	09/16/2026	09/16/2026	09/18/2026
10/20/2026	10/21/2026	10/21/2026	10/23/2026
11/17/2026	11/18/2026	11/18/2026	11/20/2026
12/15/2026	12/16/2026	12/16/2026	12/18/2026

Declaration Date	Ex-Div Date	Record Date	Payable Date	Amount ($)
12/23/2025	12/24/2025	12/24/2025	12/26/2025	$1.4098

Notification of Source of Distributions Pursuant to Rule 19a-1 under the Investment Company Act of 1940

2026

19a-1 Notice - January

2025

19a-1 Notice - December

Form 8937 – Report of Organizational Actions Affecting Basis of Securities

To facilitate tax basis reporting, since January 2012, the Internal Revenue Service has required certain securities activity to be reported on Form 8937.

For more information, consult with a tax professional and/or your financial professional.

No Form 8937 documents available.

Top Holdings

Data as of 01/23/2026 Download Full Holdings

Security Name	Identifier	Weighting (%)
United States Treasury Bill 02/26/2026	912797RU3	77.40%
Ishares Ethereum Trust Etf	ETHA	24.77%
Etha Us 04/17/26 C23	ETHA 260417C00023000	8.11%
Etha Us 02/20/26 C27	ETHA 260220C00027000	-0.26%
Etha Us 02/20/26 C25	ETHA 260220C00025000	-0.55%
Etha Us 04/17/26 P23	ETHA 260417P00023000	-9.97%

Holdings are subject to change

Documents

Legal Documents & Reports
Prospectus
Summary Prospectus
Statement of Additional Information

Fund Resources
Recent Content

Potential Benefits of Utilizing Options-Based ETFs

High Monthly Income

Investors may seek increased income generation potential within their portfolios through option writing (selling).

Lower Correlation

Options-based solutions may be less sensitive to traditional market risk factors such as credit, duration, and inflation risk.

Tax Efficiency

Index options are classified as Section 1256 contracts, which are subject to lower 60/40 tax rates.

Schedule a meeting with a portfolio specialist

Important Disclosures:

An investment in NEOS ETFs involve risk, including possible loss of principal. The equity securities purchased by the Funds may involve large price swings and potential for loss. There is no guarantee the NEOS ETFs will make monthly distributions and the amounts may fluctuate from month to month. Distributions made by NEOS ETFs have been classified as a return of capital and may be comprised of option premiums, dividends, capital gains, and interest payments. To view both current and historical monthly estimates of ETF distribution composition, investors may view the 19a-1 notices available on each corresponding Fund's webpage. Distributions classified as return of capital will reduce an investor’s cost basis in Fund shares owned, which may result in higher taxes paid in the future when the Fund shares are sold, even if the shares are sold at a loss compared to the original investment.

The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. The use of leverage by the Fund, such as borrowing money to purchase securities or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s gains or losses. The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience. The funds are new with a limited operating history.

Investments in smaller companies typically exhibit higher volatility. Investors in NEOS ETFs should be willing to accept a high degree of volatility in the price of the fund’s shares and the possibility of significant losses.

Spot Ether ETP Risk. The value of a Spot Ether ETP security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole. It is possible that Spot Ether ETP issuer-specific attributes may cause an investment held by the Fund in such Spot Ether ETP to be more volatile than the market generally.

Ether Risk. The value of the Fund’s investment in Spot Ether ETPs and options on Ether-related instruments is subject to fluctuations in the value of Ether. Ether is a relatively new innovation and the market for Ether is subject to rapid price swings, changes and uncertainty. The further development of the Ether Network and the acceptance and use of Ether are subject to a variety of factors that are difficult to evaluate. The value of Ether has been, and may continue to be, substantially dependent on speculation, such that trading and investing in these assets generally may not be based on fundamental analysis. The slowing, stopping or reversing of the development of the Ether Network or the acceptance of Ether may adversely affect the price of Ether. Ether is subject to the risk of fraud, theft, manipulation or security failures, operational or other problems that impact ether trading venues. Additionally, if one or a coordinated group of validators were to gain control of 33% or more of staked Ether, they would have the ability to execute extensive attacks, manipulate transactions and fraudulently obtain ether. If such a validator or group of validators were to gain control of one-third of staked ether, they could halt payments. A significant portion of ether is held by a small number of holders sometimes referred to as “whales”. Transactions by these holders may influence the price of ether and these holders may have the ability to manipulate the price of Ether

Ether Tax Risk. By investing in Spot Ether ETPs indirectly through the Subsidiary, the Fund will obtain exposure to the crypto asset Ether within the federal tax requirements that apply to the Fund. However, because the Subsidiary is a controlled foreign corporation organized under the laws of the Cayman Islands, any income received by the Fund from its investments in the Subsidiary will be passed through to the Fund as ordinary income, which may be taxed at less favorable rates than capital gains.

Ether Futures ETFs Risks. The Ether Futures ETFs do not invest directly in Ether. Instead, the Ether Futures ETFs obtain indirect exposure to Ether by investing in Ether futures. The market for derivatives linked to Ether may be less developed, and potentially less liquid and more volatile, than more established markets. While these markets have grown substantially since Ether derivatives commenced trading, there can be no assurance that this growth will continue. The price for Ether futures and options is based on a number of factors, including the supply of and the demand for these derivatives. Market conditions and expectations, position limits, accountability levels, collateral requirements, availability of counterparties, and other factors each can impact the supply of and demand for these derivatives. Additionally, due to the high margin requirements that are unique to Ether futures contracts, the Ether Futures ETFs may experience difficulty maintaining the desired level of exposure to Ether solely through futures contracts. If an Ether Futures ETF is unable to achieve such exposure it may not be able to meet its investment objective and the Ether Futures ETF’s returns may be different or lower than expected. Additionally, collateral requirements may require the Ether Futures ETFs to liquidate their positions, potentially incurring losses and expenses, when it otherwise would not do so. Investing in derivatives like Ether futures may be considered aggressive and may expose the Ether Futures ETFs to significant risks. These risks include counterparty risk and liquidity risk.

Options Risk. Buying and selling (writing) options are speculative activities and entail greater than ordinary investment risks. Options enable the Fund to purchase exposure that is significantly greater than the premium paid. Consequently, the value of such options can be volatile, and a small investment in options can have a large impact on the performance of the Fund. The Fund risks losing all or part of the cash paid (premiums) for purchasing options. Even a small decline in the value of a reference asset underlying call options or a small increase in the value of a reference asset underlying put options can result in the entire investment in such options being lost. The Fund’s options also may fail to track the performance of their underlying reference asset, which may limit the effectiveness of the Fund’s strategy. The potential loss from written options can exceed the Fund’s initial investment in such options and could be unlimited.

Concentration Risk. Because the Fund invests more than 25% of its assets in Spot Ether ETPs and options on Ether-related instruments, the Fund’s net asset value may fluctuate more than that of a fund that does not concentrate in Spot Ether ETPs and options on Ether-related instruments.

Custody Risk. Security breaches, computer malware and computer hacking attacks have been a prevalent concern in relation to digital assets. The Ether held by the Spot Ether ETPs’ custodian will likely be an appealing target to hackers or malware distributors seeking to destroy, damage or steal the Spot Ether ETPs’ ether. To the extent that the Spot Ether ETPs and their service providers are unable to identify and mitigate or stop new security threats or otherwise adapt to technological changes in the digital asset industry, a Spot Ether ETP’s ether may be subject to theft, loss, destruction or other attack. The Spot Ether ETPs have put security procedures in place to prevent such theft, loss or destruction, including but not limited to, offline storage, or cold storage, multiple encrypted private key “shards”, and other measures. Nevertheless, the security procedures cannot guarantee the prevention of any loss due to a security breach, software defect or act of God that may be borne by the Spot Ether ETPs and the security procedures may not protect against all errors, software flaws or other vulnerabilities in an Spot Ether ETP’s technical infrastructure, which could result in theft, loss or damage of its assets. The Spot Ether ETPs do not control the operations of their service providers or their implementation of such security procedures and there can be no assurance that such security procedures will actually work as designed or prove to be successful in safeguarding a Spot Ether ETP’s assets against all possible sources of theft, loss or damage. Assets not held in cold storage, such as assets held in a trading account, may be more vulnerable to security breach, hacking or loss than assets held in cold storage. Furthermore, assets held in a trading account are held on an omnibus, rather than segregated basis, which creates greater risk of loss. The security procedures and operational infrastructure may be breached due to the actions of outside parties, error or malfeasance of an employee of an Spot Ether ETP’s service providers, and, as a result, an unauthorized party may obtain access to the Spot Ether ETP’s account at the custodian where its ether is held, the relevant private keys (and therefore ether) or other data or property of a Spot Ether ETP. Additionally, outside parties may attempt to fraudulently induce employees of a Spot Ether ETP or its service providers to disclose sensitive information in order to gain access to a Spot Ether ETP’s infrastructure. As the techniques used to obtain unauthorized access, disable or degrade service, or sabotage systems change frequently, or may be designed to remain dormant until a predetermined event and often are not recognized until launched against a target, a Spot Ether ETP and its service providers may be unable to anticipate these techniques or implement adequate preventative measures.

FLEX Options Risk. Trading FLEX Options involves risks different from, or possibly greater than, the risks associated with investing directly in securities. The Fund may experience losses from specific FLEX Option positions and certain FLEX Option positions may expire worthless. The FLEX Options are listed and trade on an exchange; however, no one can guarantee that a liquid secondary trading market will exist for the FLEX Options. In the event that trading in the FLEX Options is limited or absent, the value of the Fund’s FLEX Options may decrease. In a less liquid market for the FLEX Options, liquidating the FLEX Options may require the payment of a premium (for written FLEX Options) or acceptance of a discounted price (for purchased FLEX Options) and may take longer to complete. A less liquid trading market may adversely impact the value of the FLEX Options and Fund shares and result in the Fund being unable to achieve its investment objective. Less liquidity in the trading of the Fund’s FLEX Options could have an impact on the prices paid or received by the Fund for the FLEX Options in connection with creations and redemptions of the Fund’s shares. Depending on the nature of this impact to pricing, the Fund may be forced to pay more for redemptions (or receive less for creations) than the price at which it currently values the FLEX Options. Such overpayment or under collection could reduce the Fund’s ability to achieve its investment objective. Additionally, in a
less liquid market for the FLEX Options, the liquidation of a large number of options may more significantly impact the price. A less liquid trading market may adversely impact the value of the FLEX Options and the value of your investment. The trading in FLEX Options may be less deep and liquid than the market for certain other exchange-traded options, non-customized options or other securities.

There is no assurance that the Fund will meet its investment objective. The value of your investment in the Fund, as well as the amount of return you receive on your investment in the Fund, may fluctuate significantly. You may lose part or all of your investment in the Fund or your investment may not perform as well as other similar investments. Therefore, you should consider carefully the following risks before investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency.

The information on this website does not constitute investment advice or a recommendation of any products, strategies, or services. Investors should consult with a financial professional regarding their individual circumstances before making investment decisions. NEOS Funds or its affiliates, nor Foreside Fund Services, LLC, or its affiliates accept any responsibility for loss arising from the use of the information contained herein.

NEOS ETFs are distributed by Foreside Fund Services, LLC.

Award-Related Disclosures:

QQQI was awarded "Best New Active ETF" at the 2025 ETF.com Awards. There were ~25 submissions for "Best New Active ETF". The criteria for inclusion were that the ETF needed to be launched in 2025 within the actively managed category. Judges looked at a number of factors including performance, flows, uniqueness, and overall value-add to the ETF space.

NEOS Investments was awarded "Best Options Strategies ETF Issuer ($1bn-$10bn)" at the 2025 ETF Express U.S. Awards. Trackinsight has provided the pre-selection data for ETF issuer shortlists since 2020. To determine candidates, all ETFs that have been listed for the past 12 months are included. For each award category, an issuer’s ETFs within that category are combined to calculate total AUM. Issuers with less than USD 100 million in average assets over the review period are excluded. Shortlists are formed based on the percentage change in AUM over the prior 12 months, and in some categories, issuers are further grouped by asset-size tiers. The resulting shortlist goes into an industry voting survey, with each company limited to 10 internal votes. After review, votes are tallied to determine the winners.

The Wealthmanagement.com Industry Awards are independently granted in recognition of business initiatives that enhance financial advisor success and help advisors create better outcomes for their clients. The program begins with an open nomination process for all categories which extends from February to May. Firms submit business initiatives either introduced or enhanced during the previous 18 months. Submissions are reviewed in June by a panel of independent judges with required industry expertise, looking at the submission’s innovation, scope and impact. From the pool of submissions, judges select finalists for each category. Each judge on the committee then ranks those finalists, with the weighted aggregate ranking determining the winner. Winners are announced in September. No financial compensation is paid for consideration in the award process. Judges’ decisions are made independent of any firm’s business relationships with Informa Plc. Judges recuse themselves from the process from selecting finalists or winners for any category where the conflict exists.

Definitions:

Option: Options are financial derivatives that give buyers the right, but not the obligation, to buy or sell an underlying asset at an agreed-upon price and date.

Distribution Rate: The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The distribution rate represents a single distribution from the Fund and is not a representation of the Fund's total return. The distribution rate is calculated by multiplying the most recent distribution by 12 in order to annualize it, and then dividing by the Fund's most recent ex-date NAV.

30-day SEC Yield: A calculation based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund's hypothetical annualized income, as a percentage of its assets. A security's income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund's holdings over a trailing 30-day period. This hypothetical income will differ (at times, significantly) from the fund's actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

Tax Loss Harvesting: The timely selling of securities at a loss in order to offset the amount of capital gains tax due on the sale of other securities at a profit.

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About NEOS Investments

Meet Our Team

NEHI

Targeted Benefits of NEHI's Strategy:

Investment Objective:

Pricing Information

Where might NEHI fit into an investment portfolio?

Fund Performance

Distributions

2026

2025

Top Holdings

Documents

Potential Benefits of Utilizing Options-Based ETFs

Schedule a meeting with a portfolio specialist