ETF Comparison
SPYI vs QYLD: Which Is the Better Pick in 2026?
A head-to-head comparison of NEOS S&P 500 High Income ETF and Global X Nasdaq 100 Covered Call ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SPYI | QYLD | |
|---|---|---|
| Full name | NEOS S&P 500 High Income ETF | Global X Nasdaq 100 Covered Call ETF |
| Issuer | NEOS | Global X |
| Price | $49.65 | $17.25 |
| Distribution yield | 11.84% | 11.62% |
| Expense ratio | 0.68% | 0.60% |
| AUM | $8.1B | $8.3B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | S&P 500 Index | NASDAQ 100 |
| Objective | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. | Covered Call |
| Asset class | Equity | Equity |
| Inception date | 08/29/2022 | 12/11/2013 |
| Beta | 0.68 | 0.51 |
| Last dividend | $0.51 | $0.17 |
| Ex-dividend date | 03/18/2026 | 03/23/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPYI (NEOS S&P 500 High Income ETF) and QYLD (Global X Nasdaq 100 Covered Call ETF) are both popular monthly-pay seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. ETFs, but they take different approaches.
SPYI offers the higher yield at 11.84% vs 11.62% for QYLD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
QYLD is cheaper with an expense ratio of 0.60% compared to 0.68%.
They track different benchmarks: SPYI is linked to S&P 500 Index while QYLD tracks NASDAQ 100, which means their performance drivers differ.
QYLD is the larger fund by assets ($8.3B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, SPYI would generate roughly $98.67/month while QYLD would produce $96.83/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, SPYI would cost approximately $680 in fees vs $600 for QYLD (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
Strategy & risk
SPYI tracks S&P 500 Index with a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. approach, while QYLD tracks NASDAQ 100 using a covered call strategy. Beta is 0.68 for SPYI and 0.51 for QYLD, indicating QYLD is less volatile relative to the market.
Fund details
SPYI is managed by NEOS (launched 08/29/2022) with $8.1B in assets. QYLD is managed by Global X (launched 12/11/2013) with $8.3B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is SPYI or QYLD 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 SPYI and QYLD?
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. strategy, while QYLD (Global X Nasdaq 100 Covered Call ETF) tracks NASDAQ 100 with a covered call approach. They are issued by NEOS and Global X respectively.
Can I hold both SPYI and QYLD?
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, SPYI or QYLD?
SPYI has an expense ratio of 0.68% while QYLD charges 0.60%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPYI vs QYLD generate?
At current yields, $10,000 in SPYI would generate roughly $98.67 per month ($1,184.00 annually). The same in QYLD would produce about $96.83 per month ($1,162.00 annually).
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