Two of the market's most popular income ETFs compared side-by-side. See which one fits your yield strategy.
What this means: Both QQQI and SPYI fall intoTier 4: Harvest. This suggests they share a similar risk profile and volatility expectation.
| Metric | QQQI | SPYI |
|---|---|---|
| Total Return (1Y) | 18.34% | 16.35% |
| NAV Change (1Y) | 4.05% | 4.24% |
| Max Drawdown | -23.79% | -19.58% |
| Beta | - | 0.70 |
* Returns include dividend reinvestment. Drawdown calculates peak-to-trough decline over trailing 12 months.
QQQI (NEOS Nasdaq 100 High Income) is a options-based income fund managed by NEOS. It focuses on generating income through strategic holdings. With $7.4B in assets under management, this fund has been operational since its inception.
Strategy: Generates enhanced income through covered call options on equity holdings, trading upside potential for premium income.
SPYI (NEOS S&P 500 High Income) is a options-based income fund managed by NEOS. It tracks the S&P 500 index across approximately 503 positions. With $6.9B in assets under management, this fund has been operational since Aug 2022.
Strategy: Generates enhanced income through covered call options on equity holdings, trading upside potential for premium income.
In the head-to-head battle of QQQI vs SPYI, the choice depends on your specific goal. QQQI wins for Immediate Income with a 14.29% yield. However, QQQI is the better choice for Long-Term Growth due to superior total return performance.
Which fund is safer for retirement income? We analyze the yield sustainability and structural risk.
The Bottom Line Question: If you invest $100,000 today, how much cash will you actually receive each month? Here's the exact math:
QQQI
Annual Yield: 14.29%
$1,191/mo
($14,289/year)
Frequency: monthly
SPYI
Annual Yield: 12.11%
$1,009/mo
($12,112/year)
Frequency: monthly
Income Gap: QQQI generates $2,178/year more than SPYI on the same $100k investment.
Over 20 years, that's $43,558 in additional cash flow (before reinvestment).
Context Matters: Higher income doesn't always mean better investment. Review the "Yield Trap" and "Total Return" sections above—you want income that's sustainable, not just headline-grabbing.
Historical data reveals how these funds behave during market stress. QQQI has delivered a superior Total Return of 18.34% over the past year.
What is Max Drawdown? Max drawdown measures the largest peak-to-trough decline in portfolio value during a specific period. Unlike NAV change (which only looks at start vs. end), max drawdown captures the worst moment of pain an investor experienced.
Real-World Scenario: $100,000 Investment
SPYI (More Resilient)
Max Drawdown: -19.58%
-$19,580
Worst unrealized loss
QQQI (More Volatile)
Max Drawdown: -23.79%
-$23,790
Worst unrealized loss
Protection Value: SPYI saved investors $4,210 in drawdown severity on a $100k position.
Why This Matters More Than Total Return: During bear markets or corrections, investors with lower max drawdown are:
⚖️ Capital Preservation Winner: SPYI demonstrated superior downside protection, making it the better choice for retirees who cannot afford steep temporary losses.
Every investor has a unique risk profile. Use our Portfolio Intelligence tool to see the impact of adding these ETFs to your holdings.