ETF Comparison
XYLD vs SPYI: Which Is the Better Pick in 2026?
A head-to-head comparison of Global X S&P 500 Covered Call ETF and NEOS S&P 500 High Income ETF covering yield, cost, risk, and income potential.
Data updated April 5, 2026
Side-by-side snapshot
| XYLD | SPYI | |
|---|---|---|
| Full name | Global X S&P 500 Covered Call ETF | NEOS S&P 500 High Income ETF |
| Issuer | Global X | NEOS |
| Price | $39.31 | $49.65 |
| Distribution yield | 10.58% | 11.84% |
| Expense ratio | 0.60% | 0.68% |
| AUM | $3.2B | $8.1B |
| Distribution frequency | Monthly | Monthly |
| Underlying index | S&P 500 Index | S&P 500 Index |
| Objective | Covered Call | Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation. |
| Asset class | Equity | Equity |
| Inception date | 06/24/2013 | 08/29/2022 |
| Beta | 0.4 | 0.68 |
| Last dividend | $0.39 | $0.51 |
| Ex-dividend date | 03/23/2026 | 03/18/2026 |
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
XYLD (Global X S&P 500 Covered Call ETF) and SPYI (NEOS S&P 500 High Income ETF) are both popular monthly-pay covered call ETFs, but they take different approaches.
SPYI offers the higher yield at 11.84% vs 10.58% for XYLD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
XYLD is cheaper with an expense ratio of 0.60% compared to 0.68%.
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, XYLD would generate roughly $88.17/month while SPYI would produce $98.67/month at current distribution rates. Both pay monthly distributions.
Cost & efficiency
Over 10 years on $10,000, XYLD would cost approximately $600 in fees vs $680 for SPYI (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
Strategy & risk
XYLD tracks S&P 500 Index with a covered call 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 0.4 for XYLD and 0.68 for SPYI, indicating XYLD is less volatile relative to the market.
Fund details
XYLD is managed by Global X (launched 06/24/2013) with $3.2B 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 XYLD 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 XYLD and SPYI?
XYLD (Global X S&P 500 Covered Call ETF) tracks S&P 500 Index with a covered call 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 Global X and NEOS respectively.
Can I hold both XYLD 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, XYLD or SPYI?
XYLD has an expense ratio of 0.60% 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 XYLD vs SPYI generate?
At current yields, $10,000 in XYLD would generate roughly $88.17 per month ($1,058.00 annually). The same in SPYI would produce about $98.67 per month ($1,184.00 annually).
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