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 QQQI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
TappAlpha operates a focused ETF lineup of four funds organized around two main families: Growth & Daily Income and T² Lift Series. The company's fund offerings span growth-oriented strategies and daily income approaches, with ticker symbols including TDAQ, TDAX, TSPY, and TSYX that target investors seeking regular income generation or equity growth exposure. As a smaller, specialized ETF provider, TappAlpha positions itself in a niche segment of the ETF market focused on daily income strategies and differentiated growth approaches.
See our curated list of related YouTube videos on TSPY.
Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.
The TappAlpha SPY Growth & Daily Income ETF (the "Fund") seeks current income while maintaining prospects for capital appreciation. The Fund’s secondary investment objective is to seek exposure to the performance of the SPDR S&P 500 ETF Trust ("SPY"), subject to a limit on potential investment gains.
Asset class
Equity
Equity
Inception date
01/29/2024
08/14/2024
Beta
1.0553
0.935
Last dividend
$0.6350
$0.3001
Ex-dividend date
07/22/2026
08/04/2026
Bottom lineQQQI and TSPY are nearly interchangeable — both track the Nasdaq-100 with very similar cost and risk. The clearest tie-breaker is cost: QQQI is cheaper at 0.68% vs 0.71%.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
QQQI has outpaced TSPY over the trailing twelve months, posting a 20.07% total return against 19.91%. Measured from Aug 2024 — when the younger fund began trading — QQQI has compounded at 19.99% a year versus 17.02% for TSPY. TSPY has been the steadier holding, though — annualized volatility of 12.6% against 16.7% for QQQI. 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 August 5, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Aug 2024” measures every fund from August 15, 2024 — 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 past year. 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 past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
QQQI (NEOS Nasdaq-100 High Income ETF) and TSPY (SPY Growth & Daily Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
TSPY offers the higher yield at 14.01% vs 13.89% for QQQI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
QQQI is cheaper with an expense ratio of 0.68% compared to 0.71%.
They track different benchmarks: QQQI is linked to NASDAQ 100 while TSPY tracks SPDR S&P 500 ETF Trust (SPY), which means their performance drivers differ.
QQQI is the larger fund by assets ($13.4B), which generally means tighter spreads and better liquidity.
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On a $10,000 investment, QQQI would generate roughly $115.75/month, while TSPY would produce $116.75/month, at current distribution rates. Both pay monthly distributions.
QQQI yield13.89%
TSPY yield14.01%
Monthly diff on $10K$1.00
Cost & efficiency
Over 10 years on $10,000, QQQI would cost approximately $680 in fees vs $710 for TSPY (simplified, not compounded). The $30.00 difference may be offset by yield or performance.
QQQI ER0.68%
TSPY ER0.71%
Strategy & risk
QQQI tracks NASDAQ 100 with an options approach, while TSPY tracks SPDR S&P 500 ETF Trust (SPY) with a growth approach. Beta is 1.0553 for QQQI and 0.935 for TSPY, indicating TSPY is less volatile relative to the market.
QQQI beta1.0553
TSPY beta0.935
Fund details
QQQI is managed by NEOS (launched 01/29/2024) with $13.4B in assets. TSPY is managed by TappAlpha (launched 08/14/2024) with $308M in assets.
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Frequently asked questions
What is the current distribution yield for QQQI and TSPY?
QQQI currently distributes 13.89% and TSPY 14.01%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is QQQI or TSPY better for dividend income?
It depends on your goals. TSPY 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 QQQI and TSPY?
QQQI (NEOS Nasdaq-100 High Income ETF) tracks NASDAQ 100 with an options approach, while TSPY (SPY Growth & Daily Income ETF) tracks SPDR S&P 500 ETF Trust (SPY) with a growth approach. They are issued by NEOS and TappAlpha respectively.
Can I hold both QQQI and TSPY?
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, QQQI or TSPY?
QQQI has an expense ratio of 0.68% while TSPY charges 0.71%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in QQQI vs TSPY generate?
At current rates, $10,000 in QQQI would generate roughly $115.75 per month ($1,389.00 annually). The same in TSPY would produce about $116.75 per month ($1,401.00 annually).
Which has performed better historically, QQQI or TSPY?
QQQI has outpaced TSPY over the trailing twelve months, posting a 20.07% total return against 19.91%. Measured from Aug 2024 — when the younger fund began trading — QQQI has compounded at 19.99% a year versus 17.02% for TSPY. TSPY has been the steadier holding, though — annualized volatility of 12.6% against 16.7% for QQQI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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