ETF Comparison
DIVO vs SPYI: Which Is the Better Pick in 2026?
A head-to-head comparison of Amplify CWP Enhanced Dividend Income ETF and NEOS S&P 500 High Income ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| DIVO | SPYI | |
|---|---|---|
| Full name | Amplify CWP Enhanced Dividend Income ETF | NEOS S&P 500 High Income ETF |
| Issuer | Amplify ETFs | NEOS |
| Price | $44.93 | $49.65 |
| Distribution yield | 4.90% | 11.84% |
| Expense ratio | 0.56% | 0.68% |
| AUM | $6.6B | $8.1B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | Basket (Amplify Advanced Dividend Income ETF holdings) | S&P 500 Index |
| Objective | Seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying U.S. exchange-traded equity securities while opportunistically utilizing covered call options on those securities. | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. |
| Asset class | Equity | Equity |
| Inception date | 12/14/2016 | 08/29/2022 |
| Beta | 0.65 | 0.68 |
| Last dividend | $0.18 | $0.51 |
| Ex-dividend date | 03/30/2026 | 03/18/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
DIVO (Amplify CWP Enhanced Dividend Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both popular monthly-pay seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying u.s. exchange-traded equity securities while opportunistically utilizing covered call options on those securities. ETFs, but they take different approaches.
SPYI offers the higher yield at 11.84% vs 4.90% for DIVO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
DIVO is cheaper with an expense ratio of 0.56% compared to 0.68%.
They track different benchmarks: DIVO is linked to Basket (Amplify Advanced Dividend Income ETF holdings) while SPYI tracks S&P 500 Index, which means their performance drivers differ.
SPYI is the larger fund by assets ($8.1B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, DIVO would generate roughly $40.83/month while SPYI would produce $98.67/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, DIVO would cost approximately $560 in fees vs $680 for SPYI (simplified, not compounded). The $120.00 difference may be offset by yield or performance.
Strategy & risk
DIVO tracks Basket (Amplify Advanced Dividend Income ETF holdings) with a seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying u.s. exchange-traded equity securities while opportunistically utilizing covered call options on those securities. approach, while SPYI tracks S&P 500 Index using a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. strategy. Beta is 0.65 for DIVO and 0.68 for SPYI, indicating DIVO is less volatile relative to the market.
Fund details
DIVO is managed by Amplify ETFs (launched 12/14/2016) with $6.6B in assets. SPYI is managed by NEOS (launched 08/29/2022) with $8.1B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is DIVO or SPYI better for dividend income?
It depends on your goals. SPYI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between DIVO and SPYI?
DIVO (Amplify CWP Enhanced Dividend Income ETF) tracks Basket (Amplify Advanced Dividend Income ETF holdings) with a seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying u.s. exchange-traded equity securities while opportunistically utilizing covered call options on those securities. strategy, while SPYI (NEOS S&P 500 High Income ETF) tracks S&P 500 Index with a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. approach. They are issued by Amplify ETFs and NEOS respectively.
Can I hold both DIVO and SPYI?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, DIVO or SPYI?
DIVO has an expense ratio of 0.56% while SPYI charges 0.68%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in DIVO vs SPYI generate?
At current yields, $10,000 in DIVO would generate roughly $40.83 per month ($490.00 annually). The same in SPYI would produce about $98.67 per month ($1,184.00 annually).
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