ETF Comparison
TSPY vs SPYI: Which Is the Better Pick in 2026?
A head-to-head comparison of SPY Growth & Daily Income ETF and NEOS S&P 500 High Income ETF covering yield, cost, risk, and income potential.
Data updated April 2, 2026
Side-by-side snapshot
| TSPY | SPYI | |
|---|---|---|
| Full name | SPY Growth & Daily Income ETF | NEOS S&P 500 High Income ETF |
| Issuer | TappAlpha | NEOS |
| Price | $23.12 | $49.37 |
| Distribution yield | 14.56% | 12.04% |
| Expense ratio | 0.77% | 0.68% |
| AUM | $255M | $8.1B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | SPDR S&P 500 ETF Trust (SPY) | S&P 500 Index |
| Objective | 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. | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. |
| Asset class | Equity | Equity |
| Inception date | 08/14/2024 | 08/29/2022 |
| Beta | 0.0 | 0.68 |
| Last dividend | $0.28 | $0.53 |
| Ex-dividend date | 03/31/2026 | 01/21/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
TSPY (SPY Growth & Daily Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both popular monthly-pay 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. ETFs, but they take different approaches.
TSPY offers the higher yield at 14.56% vs 12.04% for SPYI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYI is cheaper with an expense ratio of 0.68% compared to 0.77%.
They track different benchmarks: TSPY is linked to SPDR S&P 500 ETF Trust (SPY) while SPYI tracks S&P 500 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, TSPY would generate roughly $121.33/month while SPYI would produce $100.33/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, TSPY would cost approximately $770 in fees vs $680 for SPYI (simplified, not compounded). The $90.00 difference may be offset by yield or performance.
Strategy & risk
TSPY tracks SPDR S&P 500 ETF Trust (SPY) with a 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. approach, while SPYI tracks S&P 500 Index using a seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. strategy. Beta is 0.0 for TSPY and 0.68 for SPYI, indicating TSPY is less volatile relative to the market.
Fund details
TSPY is managed by TappAlpha (launched 08/14/2024) with $255M in assets. SPYI is managed by NEOS (launched 08/29/2022) with $8.1B in assets.
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Frequently asked questions
Is TSPY or SPYI 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 TSPY and SPYI?
TSPY (SPY Growth & Daily Income ETF) tracks SPDR S&P 500 ETF Trust (SPY) with a 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. strategy, while 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. approach. They are issued by TappAlpha and NEOS respectively.
Can I hold both TSPY and SPYI?
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, TSPY or SPYI?
TSPY has an expense ratio of 0.77% 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 TSPY vs SPYI generate?
At current yields, $10,000 in TSPY would generate roughly $121.33 per month ($1,456.00 annually). The same in SPYI would produce about $100.33 per month ($1,204.00 annually).
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