As of 12/31/2024
Distribution Frequency
Monthly
Expense Ratio
0.68%
Distribution Rate 
11.91%
30-Day SEC Yield
0.68%
Targeted Benefits of SPYI's Strategy:
- The Fund seeks to distribute high monthly income generated from investing in the constituents of the S&P 500 Index and implementing a data-driven call option strategy
- Actively managed by NEOS, the Fund seeks to take advantage of tax loss harvesting opportunities in addition to utilizing SPX Index options classified as section 1256 contracts, which are subject to lower 60/40 tax rates
- The Fund utilizes a call option strategy that may include both sold and purchased SPX index options, which may provide the opportunity for upside capture in rising equity markets
Investment Objective:
The NEOS S&P 500 High Income ETF (CBOE: SPYI) seeks high monthly income in a tax efficient manner, with the potential for upside appreciation in rising markets
| Fund Details | As of: 01/17/2025 |
|---|---|
| Fund Inception | 8/30/2022 |
| Fund Ticker | SPYI |
| CUSIP | 78433H303 |
| ISIN | US1078433H3031 |
| Gross Expense Ratio | 0.68% |
| Net Assets | $2,798,382,553 |
| Shares Outstanding | 54,160,000 |
| Primary Exchange | CBOE |
| Underlying Exposure | S&P 500 Index |
| Distribution Frequency | Monthly |
| Fund Resources |
|---|
Fact sheet 
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Prospectus
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Pricing Information
Data as of 01/17/2025
| Closing NAV Price | |
|---|---|
| Net Asset Value | $51.67 |
| Daily Change ($) | $0.33 |
| Daily Change (%) | 0.64% |
| Closing Market Price | |
|---|---|
| Market Price | $51.68 |
| Daily Change ($) | $0.31 |
| Daily Change (%) | 0.60% |
| Premium / Discount | |
|---|---|
| Premium Discount (%) | 0.02% |
| 30-Day Median Bid-Ask Spread (%) | 0.02% |
Where might SPYI fit into an investment portfolio?
SPYI may be considered as an alternative to existing core equity allocations, and seeks to provide a tax efficient monthly income stream, while maintaining the opportunity for upside participation when market conditions warrant.
Fund Overview: S&P 500 High Income ETF (SPYI)
The Classification of SPYI's Monthly Distributions
Fund Performance
Data as of: 12/31/2024
| 1 Mo | 3 Mo | 6 Mo | YTD | Inception (Cumulative) |
1 Yr | 3 Yr | 5 Yr | Inception (Annualized) |
|
|---|---|---|---|---|---|---|---|---|---|
| Cumulative | Annualized | ||||||||
| NAV Performance | -1.83% | 2.19% | 7.75% | 19.03% | 35.65% | 19.03% | - | - | 13.92% |
| Market Performance | -1.83% | 2.22% | 7.74% | 19.02% | 35.67% | 19.02% | - | - | 13.93% |
| Cboe S&P 500 BuyWrite Monthly Index | 2.22% | 5.78% | 11.65% | 20.12% | 31.80% | 20.12% | - | - | 12.53% |
| S&P 500 Index | -2.38% | 2.41% | 8.44% | 25.02% | 51.33% | 25.02% | - | - | 19.37% |
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.
SPYI 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 SPYI, 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: 12/31/2024
| 1 Mo | 3 Mo | 6 Mo | YTD | Inception (Cumulative) |
1 Yr | 3 Yr | 5 Yr | Inception (Annualized) |
|
|---|---|---|---|---|---|---|---|---|---|
| Cumulative | Annualized | ||||||||
| NAV Performance | -1.83% | 2.19% | 7.75% | 19.03% | 35.65% | 19.03% | - | - | 13.92% |
| Market Performance | -1.83% | 2.22% | 7.74% | 19.02% | 35.67% | 19.02% | - | - | 13.93% |
| Cboe S&P 500 BuyWrite Monthly Index | 2.22% | 5.78% | 11.65% | 20.12% | 31.80% | 20.12% | - | - | 12.53% |
| S&P 500 Index | -2.38% | 2.41% | 8.44% | 25.02% | 51.33% | 25.02% | - | - | 19.37% |
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.
SPYI 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 SPYI, 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.
Growth of $10,000 at NAV Since Inception
The hypothetical growth of $10,000 chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.
Distributions
| Distribution Information (as of 12/31/2024) |
|
|---|---|
| Distribution Frequency | Monthly |
Distribution Rate  |
11.91% |
| 12-Month Trailing Distribution Rate |
11.76% |
| Distribution Amount / Share ($) | $0.5164 |
| Distribution Amount / Share (%) | 0.99% |
| 30-Day SEC Yield |
0.68% |
2023 Distribution Calendar
2022 Distribution Calendar
Supplemental Tax Information: 19a-1 Notices
Supplemental Tax Information: Form 8937
| Declaration Date | Ex-Div Date | Record Date | Payable Date | Amount ($) |
|---|---|---|---|---|
| 1/21/2025 | 1/22/2025 | 1/22/2025 | 1/24/2025 | |
| 2/25/2025 | 2/26/2025 | 2/26/2025 | 2/28/2025 | |
| 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, 96% 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.
2024 Distribution Calendar
| Declaration Date | Record Date | Ex-Div Date | Payable Date | Amount ($) |
|---|---|---|---|---|
| 1/23/2024 | 1/24/2024 | 1/25/2024 | 1/26/2024 | $0.4896 |
| 2/20/2024 | 2/21/2024 | 2/22/2024 | 2/23/2024 | $0.4967 |
| 3/19/2024 | 3/20/2024 | 3/21/2024 | 3/22/2024 | $0.5014 |
| 4/23/2024 | 4/24/2024 | 4/25/2024 | 4/26/2024 | $0.4892 |
| 5/21/2024 | 5/22/2024 | 5/23/2024 | 5/24/2024 | $0.4997 |
| 6/25/2024 | 6/26/2024 | 6/26/2024 | 6/27/2024 | $0.5051 |
| 7/23/2024 | 7/24/2024 | 7/24/2024 | 7/25/2024 | $0.5088 |
| 8/20/2024 | 8/21/2024 | 8/21/2024 | 8/22/2024 | $0.5564 |
| 9/24/2024 | 9/25/2024 | 9/25/2024 | 9/26/2024 | $0.5147 |
| 10/22/2024 | 10/23/2024 | 10/23/2024 | 10/24/2024 | $0.5196 |
| 11/19/2024 | 11/20/2024 | 11/20/2024 | 11/21/2024 | $0.5206 |
| 12/23/2024 | 12/24/2024 | 12/24/2024 | 12/26/2024 | $0.5164 |
2023 Distribution Calendar
| Declaration Date | Record Date | Ex-Div Date | Payable Date | Amount ($) |
|---|---|---|---|---|
| 1/24/2023 | 1/26/2023 | 1/25/2023 | 1/27/2023 | $0.4755 |
| 2/22/2023 | 2/24/2023 | 2/23/2023 | 2/27/2023 | $0.4716 |
| 3/21/2023 | 3/23/2023 | 3/22/2023 | 3/24/2023 | $0.4660 |
| 4/25/2023 | 4/27/2023 | 4/26/2023 | 4/28/2023 | $0.4823 |
| 5/23/2023 | 5/25/2023 | 5/24/2023 | 5/26/2023 | $0.4865 |
| 6/21/2023 | 6/23/2023 | 6/22/2023 | 6/26/2023 | $0.4966 |
| 7/25/2023 | 7/27/2023 | 7/26/2023 | 7/28/2023 | $0.5047 |
| 8/22/2023 | 8/24/2023 | 8/23/2023 | 8/25/2023 | $0.4864 |
| 9/19/2023 | 9/21/2023 | 9/20/2023 | 9/22/2023* | $0.4895 |
| 10/24/2023 | 10/26/2023 | 10/25/2023 | 10/27/2023 | $0.4650 |
| 11/21/2023 | 11/24/2023 | 11/22/2023 | 11/27/2023 | $0.4783 |
| 12/19/2023 | 12/21/2023 | 12/20/2023 | 12/22/2023 | $0.4849 |
*Due to a distribution calendar error by The Depository Trust Company (DTC) in which they entered an incorrect payment date in their system, the September SPYI distribution was paid on 9/26/23 instead of the originally scheduled payment date of 9/22/2023. For more information about DTC, the organization responsible for sending payment to shareholder brokerages, please click here: https://www.dtcc.com/about. DTC has communicated to NEOS that they've taken steps to ensure these issues do not occur in the future.
2022 Distribution Calendar
| Declaration Date | Record Date | Ex-Div Date | Payable Date | Amount ($) |
|---|---|---|---|---|
| 9/20/2022 | 9/22/2022 | 9/21/2022 | 9/23/2022 | $0.4853 |
| 10/25/2022 | 10/27/2022 | 10/26/2022 | 10/28/2022 | $0.4647 |
| 11/22/2022 | 11/25/2022 | 11/23/2022 | 11/28/2022 | $0.4782 |
| 12/22/2022 | 12/27/2022 | 12/23/2022 | 12/28/2022 | $0.4615 |
