ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Schwab is known for offering low-cost, broad-based ETFs that serve both core portfolio holdings and specialized investment strategies. Their 33-fund lineup spans multiple asset classes including bonds, equities, international markets, digital assets, and factor-based strategies, with a notable emphasis on dividend-focused funds like SCHD alongside core index options. The issuer emphasizes accessibility for individual investors through competitive expense ratios and a diverse range of fund families designed to support various investment objectives.
See our curated list of related YouTube videos on SCHG.
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.
Dow Jones U.S. Large-Cap Growth Total Stock Market Index
S&P 500 Index
Objective
Capital Appreciation
Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.
Asset class
Equity
Equity
Inception date
12/11/2009
08/29/2022
Beta
1.21
0.7
Last dividend
$0.0340
$0.5310
Ex-dividend date
06/24/2026
06/16/2026
Bottom lineChoose SCHG if you want a growth tilt and can accept bigger swings for higher upside. Choose SPYI if you want to maximize current income — roughly 11.90%, generated by selling options premium. There's no free lunch: SPYI's payout comes from selling options, which caps upside and can erode the share price over time, while SCHG keeps full price exposure.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SCHG (Schwab U.S. Large-Cap Growth ETF) and SPYI (NEOS S&P 500 High Income ETF) are both dividend ETFs, but they take different approaches.
SPYI offers the higher yield at 11.90% vs 0.39% for SCHG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SCHG is cheaper with an expense ratio of 0.04% compared to 0.68%.
They track different benchmarks: SCHG is linked to Dow Jones U.S. Large-Cap Growth Total Stock Market Index while SPYI tracks S&P 500 Index, which means their performance drivers differ.
SCHG is the larger fund by assets ($58.4B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose SCHG
Schwab U.S. Large-Cap Growth ETF
Want a growth tilt and can accept larger swings for more upside.
Want to keep costs low — a 0.04% expense ratio vs 0.68% for SPYI.
Choose SPYI
NEOS S&P 500 High Income ETF
Want to maximize current income — SPYI distributes roughly 11.90% from selling options premium, vs 0.39% for SCHG.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Prefer lower volatility — a beta of 0.7 vs 1.2 for SCHG.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, SCHG would generate roughly $3.25/month, while SPYI would produce $99.17/month, at current distribution rates.
SCHG yield0.39%
SPYI yield11.90%
Monthly diff on $10K$95.92
Cost & efficiency
Over 10 years on $10,000, SCHG would cost approximately $40 in fees vs $680 for SPYI (simplified, not compounded). The $640.00 difference may be offset by yield or performance.
SCHG ER0.04%
SPYI ER0.68%
Strategy & risk
SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index with a capital appreciation approach, while SPYI tracks S&P 500 Index with an options approach. Beta is 1.21 for SCHG and 0.7 for SPYI, indicating SPYI is less volatile relative to the market.
SCHG beta1.21
SPYI beta0.7
Fund details
SCHG is managed by Schwab (launched 12/11/2009) with $58.4B in assets. SPYI is managed by NEOS (launched 08/29/2022) with $10.5B in assets.
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Frequently asked questions
Is SCHG 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 SCHG and SPYI?
SCHG (Schwab U.S. Large-Cap Growth ETF) tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index with a capital appreciation approach, while SPYI (NEOS S&P 500 High Income ETF) tracks S&P 500 Index with an options approach. They are issued by Schwab and NEOS respectively.
Can I hold both SCHG 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, SCHG or SPYI?
SCHG has an expense ratio of 0.04% 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 SCHG vs SPYI generate?
At current rates, $10,000 in SCHG would generate roughly $3.25 per month ($39.00 annually). The same in SPYI would produce about $99.17 per month ($1,190.00 annually).
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