Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
DIVO has lagged SPYI over the trailing twelve months, posting a 12.22% total return against 15.39%. The lead holds up over 3 years too: SPYI has compounded at 17.96% a year, against 16.71% for DIVO. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Aug 2022” measures every fund from August 30, 2022 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
Metric
DIVO
SPYI
Forward distribution rate
4.85%
11.95%
Trailing 12-month yield
6.45%
11.83%
30-day SEC yield
—
0.46%
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Total return against the stated underlying is on SPYI vs SPY.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
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.
Bottom lineChoose DIVO if you want selected dividend stocks with tactical calls on individual holdings. Choose SPYI if you want S&P 500-oriented exposure with an active index-option strategy. Payments can change and may include tax return of capital. Neither a payout rate nor tax character proves total return, distribution coverage, or principal safety.
Selected dividend stocks versus S&P 500-oriented option income
DIVO actively selects dividend-paying large-cap stocks and writes calls tactically on individual holdings. SPYI combines S&P 500 equity exposure with active index calls, including purchased calls. Stock selection, concentration, and option positions distinguish them; payout size alone does not.
DIVO
SPYI
Approach
Selected dividend stocks and tactical stock calls
S&P 500 equity exposure and active index options
Risk review
Stock concentration, dividend cuts, and call obligations
Large-cap concentration, market losses, and option positioning
Expense ratio
0.56%
0.68%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. SPYI generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.
See our curated list of related YouTube videos on DIVO.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on SPYI.
DIVO (Amplify CWP Enhanced Dividend Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
SPYI offers the higher yield at 11.95% vs 4.85% 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%.
SPYI is the larger fund by assets ($12.4B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, DIVO would generate roughly $40.42 cash per distribution, while SPYI would produce $99.58 cash per distribution, at current distribution rates. Both pay monthly distributions.
DIVO yield4.85%
SPYI yield11.95%
Cash diff on $10K$59.17
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.
DIVO ER0.56%
SPYI ER0.68%
Strategy & risk
DIVO actively selects dividend-paying large-cap stocks and writes calls tactically on individual holdings. SPYI combines S&P 500 equity exposure with active index calls, including purchased calls. Stock selection, concentration, and option positions distinguish them; payout size alone does not. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
DIVO beta0.54
SPYI beta0.7
Fund details
DIVO is managed by Amplify ETFs (launched 12/14/2016) with $7.86B in assets. SPYI is managed by NEOS (launched 08/29/2022) with $12.4B in assets.
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Frequently asked questions
Does DIVO's lower payout guarantee a more sustainable investment?
No. A lower distribution does not prove coverage or smaller losses. DIVO's selected portfolio can differ substantially from the S&P 500, while SPYI's purchased and sold index calls affect its payoff. Compare matching net total returns, holdings, and distribution sources. Neither dividend history nor a tax-efficiency objective guarantees future results.
What is the difference between DIVO and SPYI?
DIVO (Amplify CWP Enhanced Dividend Income ETF) writes covered calls on a dividend-stock book. SPYI (NEOS S&P 500 High Income ETF) overlays S&P 500 exposure for income. The equity universe differs before the overlay does. Cost is 0.56% versus 0.68%; size is $7.86B versus $12.4B. Distributions are 4.85% and 11.95% as of October 2026. Book and overlay, not headline yield, are the decision.
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