HYBI

NEOS Enhanced Income Credit Select ETF

  • Distribution Information
  • Average Annual Total Returns
As of 02/28/2025
Distribution Frequency
Monthly
Expense Ratio
0.68%
Distribution Rate
9.04%
30-Day SEC Yield
6.30%
As of 12/31/2024
Inception
Nav
3.92%
Market Price
3.92%
1YR
Nav
4.96%
Market Price
4.93%
5YR
Nav
4.30%
Market Price
4.30%
10YR
Nav
4.14%
Market Price
4.14%

HYBI began as the WSTCM Credit Select Risk-Managed Fund (Predecessor Fund), an open-end mutual fund which operated since September 30, 2014. As of the close of business on September 27, 2024, HYBI acquired the Predecessor Fund's assets and liabilities, and assumed its performance, financial and other historical information.

Targeted Benefits of HYBI's Strategy:

  1. The Fund allocates assets between High-Yield Securities and Investment Grade Securities using a proprietary quantitative model, and overlays a data-driven put option strategy
  2. The Fund will primarily invest in such securities indirectly through ETFs that invest primarily in debt securities
  3. The Fund seeks to generate additional tax efficient monthly income from the sale of SPX Index options classified as section 1256 contracts, which are subject to lower 60/40 tax rates

Investment Objective:

The investment objective of the NEOS Enhanced Income Credit Select ETF (the “Fund”) is to seek total return from income and capital appreciation while providing a tax efficient monthly income.

Fund Details As of: 03/14/2025
Fund Inception 9/30/2024
Fund Ticker HYBI
CUSIP 78433H584
ISIN US78433H5845
Gross Expense Ratio* 0.73%
Net Expense Ratio* 0.68%
Net Assets $142,889,168
Shares Outstanding 2,833,997
Primary Exchange NASDAQ
Distribution Frequency Monthly

*The Adviser has contractually agreed to keep net expenses from exceeding 0.68% of the Fund's average daily net assets through September 30, 2025 subject to approval of the agreement by the Board

Pricing Information

Data as of 03/14/2025

Closing NAV Price
Net Asset Value $50.42
Daily Change ($) $0.16
Daily Change (%) 0.32%
Closing Market Price
Market Price $50.46
Daily Change ($) $0.17
Daily Change (%) 0.33%
Premium / Discount
Premium Discount (%) 0.07%
30-Day Median Bid-Ask Spread (%) 0.04%
Premium / Discount Information

Where might HYBI fit into an investment portfolio?

HYBI offers exposure to high-yield fixed income securities selected by a quantitative model, enhanced by a systematic options overlay strategy that seeks to provide tax-efficient monthly income, which may be considered as a compelling alternative to traditional high yield credit investments.

Fund Performance

Data as of: 02/28/2025

1 Mo 3 Mo 6 Mo YTD Inception
(Cumulative)
1 Yr 3 Yr 5 Yr 10 Yr Inception
(Annualized)
Cumulative Annualized
NAV Performance 0.78% 0.82% 2.71% 1.74% 50.97% 6.27% 3.86% 4.94% 4.15% 4.03%
Market Performance 0.61% 0.75% 2.69% 1.75% 50.94% 6.25% 3.85% 4.93% 4.15% 4.03%
Bloomberg U.S. Corporate High Yield Index 0.67% 1.61% 3.88% 2.05% 67.22% 10.09% 4.94% 4.93% 5.06% 5.06%

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.

HYBI 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 (NASDAQ) at 4:00 p.m. ET when NAV is normally determined for HYBI, 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.

Prior to close of business on 9/27/2024, the ETF operated as an open-end mutual fund. The NAV returns include returns of the Institutional Class Shares of the Predecessor Fund prior to the ETF's commencement of operations. Market price returns are calculated using the official closing price of the Fund on the listing exchange. Prior to the ETF's listing on 9/30/2024, the NAV performance of the ETF and the Institutional Class Shares of the Predecessor Fund are used as proxy market price returns.

Data as of: 12/31/2024

1 Mo 3 Mo 6 Mo YTD Inception
(Cumulative)
1 Yr 3 Yr 5 Yr 10 Yr Inception
(Annualized)
Cumulative Annualized
NAV Performance -0.91% -0.30% 3.92% 4.96% 48.39% 4.96% 2.81% 4.30% 4.14% 3.92%
Market Performance -0.98% -0.48% 3.89% 4.93% 48.35% 4.93% 2.80% 4.30% 4.14% 3.92%
Bloomberg U.S. Corporate High Yield Index -0.43% 0.17% 5.47% 8.19% 63.86% 8.19% 2.92% 4.21% 5.17% 4.94%

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.

HYBI 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 (NASDAQ) at 4:00 p.m. ET when NAV is normally determined for HYBI, 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.

Prior to close of business on 9/27/2024, the ETF operated as an open-end mutual fund. The NAV returns include returns of the Institutional Class Shares of the Predecessor Fund prior to the ETF's commencement of operations. Market price returns are calculated using the official closing price of the Fund on the listing exchange. Prior to the ETF's listing on 9/30/2024, the NAV performance of the ETF and the Institutional Class Shares of the Predecessor Fund are used as proxy market price returns.

Growth of $10,000 at NAV Since Inception

The hypothetical growth of $10,000 chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

Distributions

Distribution Information
(as of 02/28/2025)
Distribution Frequency Monthly
Distribution Rate 9.04%
Distribution Amount / Share ($) $0.3865
Distribution Amount / Share (%) 0.75%
30-Day SEC Yield 6.30%
Unsubsidized 30-Day SEC Yield 6.25%
2024 Distribution Calendar
Supplemental Tax Information: 19a-1 Notices
Declaration Date Ex-Div Date Record Date Payable Date Amount ($)
1/21/2025 1/22/2025 1/22/2025 1/24/2025 $0.3970
2/25/2025 2/26/2025 2/26/2025 2/28/2025 $0.3865
3/25/2025 3/26/2025 3/26/2025 3/28/2025
4/22/2025 4/23/2025 4/23/2025 4/25/2025
5/20/2025 5/21/2025 5/21/2025 5/23/2025
6/24/2025 6/25/2025 6/25/2025 6/27/2025
7/22/2025 7/23/2025 7/23/2025 7/25/2025
8/19/2025 8/20/2025 8/20/2025 8/22/2025
9/23/2025 9/24/2025 9/24/2025 9/26/2025
10/21/2025 10/22/2025 10/22/2025 10/24/2025
11/25/2025 11/26/2025 11/26/2025 11/28/2025
12/23/2025 12/24/2025 12/24/2025 12/26/2025

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, 67% 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.

Top Holdings

Data as of 03/17/2025   Download Full Holdings

Security Name Identifier Weighting (%)
Spdr Portfolio High Yield Bond Etf SPHY 25.64%
United States Treasury Note/bond 4% 10/31/2029 91282CFT3 25.09%
Ishares Broad Usd High Yield Corporate Bond Etf USHY 25.06%
United States Treasury Bill 05/06/2025 912797PC5 11.31%
United States Treasury Bill 04/22/2025 912797PA9 11.26%
Spxw Us 03/27/25 P5075 SPXW 250327P05075000 0.02%
Spxw Us 03/27/25 P5000 SPXW 250327P05000000 0.02%
Spxw Us 03/27/25 P4900 SPXW 250327P04900000 0.01%
Spxw Us 03/27/25 P5175 SPXW 250327P05175000 -0.03%
Spxw Us 03/27/25 P5225 SPXW 250327P05225000 -0.04%

Holdings are subject to change

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.

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