IWMI ETF — NEOS Russell 2000 High Income ETF

NEOS Russell 2000 High Income ETF (IWMI)

Updated October 2, 2026.

IWMI is an ETF that tracks the Russell 2000 Index. its distribution rate is 14.73%, its trailing-12-month yield is 14.67%, its expense ratio is 0.68%. Dividend Vision Distribution Safety Score™ is 84/100 (Safe). Total return is 38.8% over the past 2.3 years, 5.0 points behind IWM at 43.8%.

At the current 14.73% distribution rate, a $10,000 investment would generate approximately $1,473 per year, or $122.75 per month.

NEOS Russell 2000 High Income ETF is an actively managed ETF that invests in Russell 2000 stocks and overlays a call option strategy to generate high monthly income while seeking tax efficiency through favorable capital gains treatment and loss harvesting. The fund distributes income monthly and carries an expense ratio of 0.68%. It appeals to income-focused investors seeking steady cash flow from small-cap equities, though the covered call strategy may cap upside participation in strong rallies.

IWMI performance versus IWM

Price and return data through 2026-10-02.

Total return is 38.8% over the past 2.3 years, 5.0 points behind IWM at 43.8%. Over the past year its total return — price change plus distributions reinvested — is 16.9%. Its deepest 1-year drawdown was 8.4%.

IWMI key facts

Distribution Safety Score™

84 · Safe

Safety-Adjusted Yield

12.37%

Issuer

NEOS

Asset type

ETF

Asset class

Equity

Inception date

06/24/2024

Expense ratio

0.68%

Distribution rate

14.73%

Distribution frequency

Monthly

Trailing yield

14.67%

Last close

$49.48 (as of 2026-10-02)

AUM

$1,285,490,440

Average volume

417000.0

Last dividend

$0.6075

Last ex-dividend date

09/16/2026

Last payment date

09/18/2026

Beta

1.0582

P/E ratio

16.3663

How Dividend Vision calculates yield and returns

Distribution rate (14.73%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (14.67%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: NEOS or company page; Fact sheet; Prospectus; Index: Russell 2000 Index; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

IWMI risks and drawbacks

Total return has trailed IWM over the available window. The deepest 1-year drawdown on record here is 8.4%.

Who may consider IWMI — and who may not

IWMI may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors whose main goal is matching IWM total return. This is educational context, not a recommendation to buy or sell.

Compare IWMI

IWMI vs similar funds:

• IWMI vs IWM
• IWMI vs JEPQ
• IWMI vs QQQI
• IWMI vs SPYI
• IWMI vs GPIQ
• IWMI vs ITWO

Frequently asked questions

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