A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and NEOS S&P 500 High Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares operates a focused suite of two income-focused ETFs designed to generate regular distributions through options strategies and dividend investing. The firm's lineup includes ODTE and VAIE, both emphasizing yield generation for investors seeking regular cash flow. With a specialized niche in options-based and dividend income strategies, VegaShares targets investors prioritizing distributions over capital appreciation.
See our curated list of related YouTube videos on ODTE.
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.
Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.
Asset class
Equity
Equity
Inception date
04/03/2026
08/29/2022
Beta
—
0.7
Last dividend
$0.0740
$0.5300
Ex-dividend date
07/30/2026
07/22/2026
Bottom lineChoose ODTE if you want to maximize current income — roughly 14.92%, generated by selling options premium. Choose SPYI if you are comfortable trading away most upside for a large, steady payout.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
ODTE has lagged SPYI over the year to date, posting a 7.07% total return against 7.83%. SPYI has been the steadier holding, though — annualized volatility of 11.0% against 15.2% for ODTE. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 31, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Apr 2026. 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 shared window since Apr 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
ODTE (VegaShares SPX NDX RTY Premium Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both dividend ETFs, but they take different approaches.
ODTE offers the higher yield at 14.92% vs 12.03% for SPYI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYI is cheaper with an expense ratio of 0.68% compared to 0.76%.
They track different benchmarks: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while SPYI tracks S&P 500 Index, which means their performance drivers differ.
SPYI has $10.9B in assets vs $3.08M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.
Who should choose each?
Choose ODTE
VegaShares SPX NDX RTY Premium Income ETF
Want to maximize current income — ODTE distributes roughly 14.92% from selling options premium, vs 12.03% for SPYI.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Choose SPYI
NEOS S&P 500 High Income ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.68% expense ratio vs 0.76% for ODTE.
Prefer an established track record — ODTE only launched April 2026.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track ODTE & SPYI for free
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On a $10,000 investment, ODTE would generate roughly $124.33/month, while SPYI would produce $100.25/month, at current distribution rates.
ODTE yield14.92%
SPYI yield12.03%
Monthly diff on $10K$24.08
Cost & efficiency
Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $680 for SPYI (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
ODTE ER0.76%
SPYI ER0.68%
Strategy & risk
ODTE tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while SPYI tracks S&P 500 Index with an options approach.
ODTE beta—
SPYI beta0.7
Fund details
ODTE is managed by VegaShares (launched 04/03/2026) with $3.08M in assets. SPYI is managed by NEOS (launched 08/29/2022) with $10.9B in assets.
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Frequently asked questions
Is ODTE or SPYI better for dividend income?
It depends on your goals. ODTE 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 ODTE and SPYI?
ODTE (VegaShares SPX NDX RTY Premium Income ETF) tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while SPYI (NEOS S&P 500 High Income ETF) tracks S&P 500 Index with an options approach. They are issued by VegaShares and NEOS respectively.
Can I hold both ODTE and SPYI?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, ODTE or SPYI?
ODTE has an expense ratio of 0.76% 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 ODTE vs SPYI generate?
At current rates, $10,000 in ODTE would generate roughly $124.33 per month ($1,492.00 annually). The same in SPYI would produce about $100.25 per month ($1,203.00 annually).
Which has performed better historically, ODTE or SPYI?
ODTE has lagged SPYI over the year to date, posting a 7.07% total return against 7.83%. SPYI has been the steadier holding, though — annualized volatility of 11.0% against 15.2% for ODTE. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
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