ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on SPY.
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
01/22/1993
08/29/2022
Beta
1.0
0.7
Last dividend
$1.9035
$0.5310
Ex-dividend date
09/18/2026
06/16/2026
Bottom lineChoose SPY if you want simple, diversified core exposure in one low-cost fund. 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 SPY keeps full price exposure.
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Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
SPY (SPDR S&P 500 ETF Trust) 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 1.01% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPY is cheaper with an expense ratio of 0.10% compared to 0.68%.
SPY is the larger fund by assets ($783B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose SPY
SPDR S&P 500 ETF Trust
Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.10% 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 1.01% for SPY.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Prefer lower volatility — a beta of 0.7 vs 1.0 for SPY.
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, SPY would generate roughly $8.42/month, while SPYI would produce $99.17/month, at current distribution rates.
SPY yield1.01%
SPYI yield11.90%
Monthly diff on $10K$90.75
Cost & efficiency
Over 10 years on $10,000, SPY would cost approximately $100 in fees vs $680 for SPYI (simplified, not compounded). The $580.00 difference may be offset by yield or performance.
SPY ER0.10%
SPYI ER0.68%
Strategy & risk
SPY tracks S&P 500 Index with a large cap approach, while SPYI tracks S&P 500 Index with an options approach. Beta is 1.0 for SPY and 0.7 for SPYI, indicating SPYI is less volatile relative to the market.
SPY beta1.0
SPYI beta0.7
Fund details
SPY is managed by State Street (launched 01/22/1993) with $783B in assets. SPYI is managed by NEOS (launched 08/29/2022) with $10.5B in assets.
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Frequently asked questions
Is SPY 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 SPY and SPYI?
SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach, while SPYI (NEOS S&P 500 High Income ETF) tracks S&P 500 Index with an options approach. They are issued by State Street and NEOS respectively.
Can I hold both SPY 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, SPY or SPYI?
SPY has an expense ratio of 0.10% 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 SPY vs SPYI generate?
At current rates, $10,000 in SPY would generate roughly $8.42 per month ($101.00 annually). The same in SPYI would produce about $99.17 per month ($1,190.00 annually).
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