ETF Comparison
SPYI vs SPYD: Which Is the Better Pick in 2026?
A head-to-head comparison of NEOS S&P 500 High Income ETF and SPDR Portfolio S&P 500 High Dividend ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| SPYI | SPYD | |
|---|---|---|
| Full name | NEOS S&P 500 High Income ETF | SPDR Portfolio S&P 500 High Dividend ETF |
| Issuer | NEOS | State Street |
| Price | $49.65 | $45.35 |
| Distribution yield | 11.84% | 4.08% |
| Expense ratio | 0.68% | 0.07% |
| AUM | $8.1B | $7.5B |
| Distribution frequency | Monthly | Quarterly |
| Underlying index | S&P 500 Index | S&P 500 High Dividend Index |
| Objective | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. | Track the S&P 500 High Dividend Index, holding the highest-yielding stocks within the S&P 500. |
| Asset class | Equity | Equity |
| Inception date | 08/29/2022 | 10/21/2015 |
| Beta | 0.68 | 0.77 |
| Last dividend | $0.51 | $0.45 |
| 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 SPYD (SPDR Portfolio S&P 500 High Dividend 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 4.08% for SPYD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYD is cheaper with an expense ratio of 0.07% compared to 0.68%.
They track different benchmarks: SPYI is linked to S&P 500 Index while SPYD tracks S&P 500 High Dividend Index, which means their performance drivers differ.
SPYI is the larger fund by assets ($8.1B), 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 SPYD would produce $34.00/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 $70 for SPYD (simplified, not compounded). The $610.00 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 SPYD tracks S&P 500 High Dividend Index using a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. strategy. Beta is 0.68 for SPYI and 0.77 for SPYD, indicating SPYI is less volatile relative to the market.
Fund details
SPYI is managed by NEOS (launched 08/29/2022) with $8.1B in assets. SPYD is managed by State Street (launched 10/21/2015) with $7.5B 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 SPYD 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 SPYD?
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 SPYD (SPDR Portfolio S&P 500 High Dividend ETF) tracks S&P 500 High Dividend Index with a track the s&p 500 high dividend index, holding the highest-yielding stocks within the s&p 500. approach. They are issued by NEOS and State Street respectively.
Can I hold both SPYI and SPYD?
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 SPYD?
SPYI has an expense ratio of 0.68% while SPYD charges 0.07%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPYI vs SPYD generate?
At current yields, $10,000 in SPYI would generate roughly $98.67 per month ($1,184.00 annually). The same in SPYD would produce about $34.00 per month ($408.00 annually).
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